President Obama announces $2.4 Billion for electric vehicles

[FrenchieCat]

President Obama announces $2.4 Billion for electric vehicles
by Domenick Yoney on Mar 20th 2009

In the message-appropriate setting of the Southern California Edison Electric Vehicle Technical Center, President Obama announced yesterday the availability of $2.4 billion to aid the development of plug-in cars and the infrastructure required to keep them charged. The money will come from the American Recovery and Reinvestment Act of 2009 (ARRA) and is divided into 3 parts.


$1.5 billion for U.S.-based manufacturers to produce batteries and components
$500 million to help produce other electric vehicle (EV) components such as electric motors
$400 million to demonstrate and evaluate plug-in hybrids and other electric infrastructure concepts which could include charging stations, electric rail and training for technicians to build and repair EVs

The announcement was the center piece of a speech that focused on energy and the economy. The President stressed the need for more renewable sources for electricity and less dependence on imported oil, noting that the SUV of today gets worse mileage than the Model T of 100 years ago. While perhaps not the most even of vehicular match-ups, the point was subtextually made that gains in efficiency can be a source of prosperity.
http://www.autobloggreen.com/2009/03/20/president-obama-announces-2-4-billion-for-electric-vehicles

[ccharles000]

1. lovely

[Clio the Leo]

2. He was so ... I hate to say it ... cute the other day at the plant....

... talking about "they're making cars you can actually plug in at home!" And it wasn't speech rhetoric, I think he was literally geeked at the thought of home-plug in cars. lol

[Adelante]

3. Great news

:)