Stimulus Grants: $2.4 Billion for Hybrid Cars

March 20, 2009

(ChattahBox)–President Obama announced yesterday, the availability of $2.4 Billion in Stimulus grants to manufacturers and researchers, for the development of hybrid vehicles and their components. Obama made his announcement while appearing at the Southern California Edison’s Electric Vehicle Center, which researches battery-powered and hybrid engines. These funds augment Obama’s plans to reduce our dependence on foreign oil while creating jobs in a difficult recession, and forcing auto manufacturers to move into the Twenty-first century by producing innovative hybrid and electrical vehicles.

These Stimulus grants should serve to advance Obama’s ambitious plans to fill America’s roads with one million plug-in hybrid vehicles by 2015. The hybrid vehicle grants are available to U.S. based manufacturers for research, production, training and battery manufacturing. Monies are also set aside for the construction of truck stop charging stations and electric rails, which will be needed if our roads are soon to be populated with hybrid vehicles. Interested manufacturers can apply for the grant money through the Department of Energy.

A123 Systems and Ener1, both battery companies, said they plan to apply for the Stimulus grant funds. Obama seeks to position the United States to be competitive in the hybrid car industry, already well advanced in Europe. President Obama invites companies to prove their worthiness as innovators before receiving the grant funds.


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