Posted by: Lawyer Sanders | August 5, 2009

Kentucky environmental attorney Sanders says President Obama announces $2.4 billion investment in advanced battery technology.

$2.4 billion in new battery technology projects announced.

$2.4 billion in new battery technology projects announced.

President Obama announced 48 new advanced battery and electric drive projects that will receive $2.4 billion in funding under the American Recovery and Reinvestment Act. These projects, selected through a highly competitive process by the Department of Energy, will accelerate the development of U.S. manufacturing capacity for batteries and electric drive components as well as the deployment of electric drive vehicles, helping to establish American leadership in creating the next generation of advanced vehicles.

The announcement marks the single largest investment in advanced battery technology for hybrid and electric-drive vehicles ever made.  Industry officials expect that this $2.4 billion investment, coupled with another $2.4 billion in cost share from the award winners, will result directly in the creation tens of thousands of manufacturing jobs in the U.S. battery and auto industries.

The new awards cover the following areas:

  •  $1.5 billion in grants to U.S. based manufacturers to produce batteries and their components and to expand battery recycling capacity;
  •  $500 million in grants to U.S. based manufacturers to produce electric drive components for vehicles, including electric motors, power electronics, and other drive train components; and
  •  $400 million in grants to purchase thousands of plug-in hybrid and all-electric vehicles for test demonstrations in several dozen locations; to deploy them and evaluate their performance; to install electric charging infrastructure; and to provide education and workforce training to support the transition to advanced electric transportation systems.
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