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.
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 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.