President Obama Gives $2.4 Billion to Electric Car Manufacturers
President Obama has declard the American Recovery and Reinvestment Act will give $2.4 billion USD to the development, manufacturing, and production of the next generation of plug-in electric cars.
The president said, "this investment will not only reduce our dependence on foreign oil, it will put Americans back to work. It positions American manufacturers on the cutting edge of innovation and solving our energy challenges." This announcement pushes President Obama's goal of having one million plug-in hybrid vehicles on the road by 2015 closer to reality.
Read the full story at the U.S. Department of Energy: President Obama Announces $2.4 Billion in Funding to Support Next Generation Electric Vehicles
Nathanael Baker is the Managing Editor of EnergyBoom. He has researched and reported on the issues of renewable energy, sustainability, and climate change for over two years. He has provided research to the New York Times and The Economist, as well as being published on different media outlets including, The Energy Collective.
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