Show Me the Money: $2.4 Billion for NexGen Batteries and Electric Vehicles
48 new advanced battery and electric drive projects will receive a total of $2.4 billion under the American Recovery and Reinvestment Act. The projects, which were selected through a competitive bidding process by the Department of Energy, will support U.S. manufacturing of batteries, electric drive components and electric drive vehicles. The dollar amount of the awards will be matched by the recipients and industry experts believe that the sum of $4.8 billion will create thousands of new manufacturing jobs in the U.S. battery and auto industries.
The awards were divided up as follows:
- $1.5 billion to produce batteries, battery components and to expand battery recycling capacity
- $500 million to produce electric drive components for vehicles
- $400 million to purchase thousands of plug-in hybrid and all-electric vehicles and charging stations.
Trackbacks (0)
Links to blogs that reference this article
Trackback URL
http://www.lawofrenewableenergy.com/admin/trackback/149786
http://www.lawofrenewableenergy.com/admin/trackback/149786
Comments (0)
Read through and enter the discussion with the form at the end
Post A Comment / Question
Use this form to send a comment to the editor. Please do not include any information that you or someone else considers to be confidential in nature. Without prior establishment of an attorney-client relationship, unsolicited messages containing confidential information cannot be protected from disclosure.
Send To A Friend
Use this form to send this entry to a friend via email.
