Thursday, March 26, 2009 U.S. Government Finances Electric Car Initiatives
 The Obama administration announced it will inject $2.4 billion in electric vehicle research and manufacturing in order to create jobs and reduce U.S. dependence on petroleum. The Department of Energy is offering $1.5 billion in grants to U.S. based companies that will produce highly efficient batteries; $500 million for the production of electric motors and other electric vehicle components; and $400 million for those who will demonstrate and assess Plug-In Hybrids and other electric infrastructure concepts. (FC)
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