Obama announces $2.4 billion in EV funding
While visiting Southern California Edison's Electric Vehicle Center, President Obama announced the availability of $2.4 billion in funding for producing plug-in Hybrid Electric Vehicles and advanced battery components.
The initiative will create tens of thousands of U.S. jobs and Americans who decide to purchase these Hybrids can claim a tax credit of up to $7,500, according to the White House.
"This investment will not only reduce our dependence on foreign oil, it will put Americans back to work," Obama said.
"It positions American manufacturers on the cutting edge of innovation and solving our energy challenges."
The initiative will create tens of thousands of U.S. jobs and Americans who decide to purchase these Hybrids can claim a tax credit of up to $7,500, according to the White House.
"This investment will not only reduce our dependence on foreign oil, it will put Americans back to work," Obama said.
"It positions American manufacturers on the cutting edge of innovation and solving our energy challenges."
Obama also announced in Pomona:
-- 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.
By contributing to the reduction of petroleum use and greenhouse gas emissions, these projects will advance the United States' economic recovery, national energy security, and environmental sustainability.
-- 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.
By contributing to the reduction of petroleum use and greenhouse gas emissions, these projects will advance the United States' economic recovery, national energy security, and environmental sustainability.
Leave a comment