Switch to Desktop Site
 
 

Obama gives $600 million to next-gen car batteries

Car companies received more than $600 million on Wednesday to further development of batteries for hybrids and electric cars.

Image

In April, Chrysler said that its initial ENVI vehicles will use lithium ion batteries from A123Systems.

BusinessWire

About these ads

Companies working with Ford Motor Co, Chrysler Group and General Motors Corp received more than $600 million on Wednesday to further development of batteries for hybrids and electric cars.

The awards were part of $2.4 billion in grants being announced by the Obama administration as part of its “green” economy vision and efforts to enhance U.S. energy independence.

The grants represent the nation’s largest-ever investment in battery technology for clean-energy cars, Obama said while visiting a plant in Wakarusa, Indiana, owned by Navistar International Corp.

The funding will “develop the next generation of fuel-efficient cars and trucks, powered by the next generation of battery technologies — all made right here in America,” said Obama, adding that he wants the United States to become a world leader in clean-energy vehicles.

Almost all battery manufacturing for advanced technology vehicles is currently based in Asia.

Next

Page:   1   |   2   |   3


Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.

Share

Loading...