DETROIT (Reuters) - U.S. Energy Secretary Jennifer Granholm said Tuesday the department is working "as fast as we can" to finalize $1.7 billion in grants to fund the conversion of plants to build electric vehicles and components.

"We are working as fast as we can to finalize as much as we can -- to get the commitments in contract with all of those who have been selected," Granholm said in an interview on the sidelines of a Reuters Next conference. "We have a few months to make sure that we're doing that."

DOE announced plans in July to award General Motors $500 million and Chrysler-parent Stellantis nearly $600 million in grants to convert existing plants to build electric vehicles and components.