US to Give $2.4Bn for Batteries, PHEV, EV

The US led offensive on the green vehicle front enters a new chapter today, as the country is getting ready to pump $2.4 billion in grants for research on advanced batteries and vehicle components, as well as for the purchase of plug-in hybrid vehicles (PHEV).

Today, President Obama, together with Vice President Joe Biden and Energy Secretary Steven Chu will make the announcement of the 48 winners of the grants in the states of Indiana, Michigan and North Carolina, reported.

The 48 grants include awards to some automakers for the development of plug-in passenger cars, utility and delivery trucks. Out of the $2.4 billion, $1.5 billion will go to battery production, components are recycling, $500 million to the production of components for vehicles (electric motors, power electronics, and other drive train components) and $400 million of the purchase and evaluation of PHEVs and EVs.

The money will also be used for the implementation of electric charging stations, as well as for the training of students, teachers, technicians, mechanics and emergency responders on how the new brave automotive world will look and work.

More than 200 companies applied for the grants, with only 20 percent of the money going to small businesses. The grants don't need to be repaid, as they are intended to help "stablish a domestic manufacturing industry able to produce the batteries and drive systems for the next generation of advanced vehicles here in the US," as the White House says.

The goal set by the Obama administration is that by 2015, 1 million hybrid and/or electric vehicles be on US streets.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram
About the author: Daniel Patrascu
Daniel Patrascu profile photo

Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
Full profile


Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories