President Obama announces $2.4 Billion for electric vehicles

WASHINGTON, D.C. - President Barack Obama announced the launch of two major programs that will drive the development of the next generation of electric vehicles in the United States and support the growth of domestic jobs.

As part of the American Recovery and Reinvestment Act, the U.S. Department of Energy announced the release of two competitive solicitations for up to $2 billion in federal funding for competitively awarded cost-shared agreements for manufacturing of advanced batteries and related drive components as well as up to $400 million for transportation electrification demonstration and deployment projects.

By contributing to the reduction of petroleum use and greenhouse gas emissions, the President hopes these projects will advance the United States' economic recovery, national energy security, and environmental sustainability.

The announcement will also help meet the president's goal of putting one million plug-in hybrid vehicles on the road by 2015.

Related News

world heat electricity

7 steps to make electricity systems more resilient to climate risks

LONDON - Summer is just half done in the northern hemisphere and yet we are already seeing electricity systems around the world struggling to cope with the severe strain of heatwaves and low rainfall.

These challenges highlight the urgent need for strong and well-planned policies and investments to improve the security of our electricity systems, which supply power to homes, offices, factories, hospitals, schools and other fundamental parts of our economies and societies. This means making our electricity systems more resilient to the effects of global warming – and more efficient and flexible as they incorporate rising levels of solar and wind…

READ MORE
california-faces-power-outages-landslides-amid-severe-storm

California Faces Power Outages and Landslides Amid Severe Storm

READ MORE

inflation-climate-change-clean-energy-challenges

Rising Electricity Prices: Inflation, Climate Change, and Clean Energy Challenges

READ MORE

is-ontario-power-cost-effective

Is Ontario's Power Cost-Effective?

READ MORE

tesla electricity retailer

Tesla (TSLA) Wants to Become an Electricity Retailer

READ MORE