(President Barack Obama tours the Edison Electric Vehicle Technical Center in Pomona, California, and examines hybrid vehicles. White House Photo, 3/19/09, Lawrence Jackson)
After a daily dose of bad news yesterday we were touched with some great news. While at the
Edison Electric Vehicle Technical Center President Obama announced the availability of $2.4 billion in funding Americans working to produce the next generation of Plug-in Hybrid Electric Vehicles and the advanced battery components that will make these vehicles run. The initiative will create tens of thousands of jobs, and Americans who decide to purchase these Plug-in Hybrid vehicles can claim a tax credit of up to $7,500. He went on to announce that:
* 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.
For more on this Breakin' News
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