Obama opens spigot on plug-in electric-car grants
President Barack Obama on Thursday launched a $2.4 billion program to boost development of plug-in electric vehicles in the U.S., including grants to finance domestic production of auto batteries.
Obama spoke at Southern California Edison's Electric Vehicle Technical Center in Pomona, Calif., where he said the Department of Energy has now started taking grant proposals from electric-vehicle battery makers.
The stimulus plan passed earlier this year set aside $2 billion to jump-start electric-vehicle manufacturing. Out of that total, $1.5 billion is available for U.S. battery manufacturing and $500 million for related technology, such as electric … Read more