The President made the announcement while visiting Southern California Edison’s Electric Vehicle Center. SCE is one of the largest electric utilities in the country and researches battery-powered and hybrid engines, along with potential impacts of having massive numbers of electric vehicles taking power from conventional utility networks.
This investment will not only reduce our dependence on foreign oil, it will put Americans back to work. It positions American manufacturers on the cutting edge of innovation and solving our energy challenges.
-President Obama
The plan was partially outlined on the Department of Energy’s website:
The Department of Energy is offering up to $1.5 billion in grants to U.S. based manufacturers to produce these highly efficient batteries and their components.
The Department of Energy is offering up to $500 million in grants to U.S. based manufacturers to produce other components needed for electric vehicles, such as electric motors and other components.
The Department of Energy is offering up to $400 million to demonstrate and evaluate Plug-In Hybrids and other electric infrastructure concepts — like truck stop charging station, electric rail, and training for technicians to build and repair electric vehicles.
The money is being made available under the American Recovery and Reinvestment Act of 2009.
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