Stimulus Update: Next Generation Electric Vehicles Funds Released

While visiting Southern California Edison’s Electric Vehicle Center Thursday, President Obama announced the availability of $2.4 billion for the “Electric Drive Vehicle Battery and Component Manufacturing Initiative” and “Transportation Electrification”.

The funds will be awarded through competitive grants.  Specific announcements are available here (for the Manufacturing Initiative) and here (for the Transportation Electrification).  Both grants are “unrestricted” meaning all entities may apply.

The programs are intended…

To put American ingenuity and America’s manufacturers to work producing next generation Plug-in Hybrid Electric Vehicles and the advanced battery components that will make these vehicles run.  The initiative will create tens of thousands of U.S. jobs and help us end our addiction to foreign oil.  Americans who decide to purchase these Plug-in Hybrid vehicles can claim a tax credit of up to $7,500.

Specifically, the DOE is offering:

  • Up to $1.5 billion in grants to U.S. based manufacturers to produce these highly efficient batteries and their components.
  • 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.
  • 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.

Have any Question or Comment?

5 comments on “Stimulus Update: Next Generation Electric Vehicles Funds Released

Good stuff. Cali is about to join the Jetsons! Saw Obama on Lenno last night talking about these electric cars..interesting and promising way forward for whoever gets their piece of the $2.4B.

J Bodine

There have been suggestions about battery technology used for Toyota’s RAV4-EV products in the mid-90’s being bought and suppressed by Chevron, implying viable EV battery technology for 120 miles before recharging has been around a long time. Any truth to that and implications for how stimulus money for battery technology will be used?

nice stuff. electric cars are good for nature, these cars are eco-friedly cars, which is great thing..

thanks for posting…

i love electric cars. these cars are eco friendly and good for nature which is grate. thanks for good work. keep it up


Great think.

I like electric cars because electric cars are good for nature.

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