WASHINGTON The Obama administration on Wednesday (Aug. 5) announced 48 new advanced battery and electric car technology projects that will receive $2.4 billion in U.S. economic stimulus funding.
The Energy Department said the projects will seek to accelerate development of U.S. manufacturing capacity to produce advanced batteries and electric drive components. The funds also will be used to speed deployment of electric cars in the U.S.
The e-car and battery initiatives "will help achieve the president's goal of putting one million plug-in hybrid vehicles on the road by 2015," Energy Secretary Stephen Chu said in a statement. "Most importantly, they will launch an advanced battery industry in America and make our auto industry cleaner and more competitive."
The funding includes:
$1.5 billion in grants to U.S.-based manufacturers for battery and component production along with expanding battery recycling capacity.
$500 million in grants to product electric drive components for vehicles, including electric motors and power electronics.
$400 million in grants to purchase "thousands" of plug-in hybrid and all-electric vehicles for test demonstrations. The funds also will be used to install an electric charging infrastructure in the U.S.
Obama administrations officials fanned out across the country to announce the energy grants. President Obama visited a truck plant in Elkhart, Ind., which has been decimated by layoffs in the recreational vehicle industry.
Chu announced the grant awards at a North Carolina plant that produces components for lithium-ion batteries.
See a list of U.S. grant winners here.