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IEEE-USA commends DOE's $2.4 billion grants to accelerate development of electric vehicles

August 10th, 2009

IEEE-USA commends the Department of Energy for awarding $2.4 billion in grants to fund 48 new advanced battery and electric drive projects.

"We welcome these investments, because electrifying transportation addresses two of our greatest needs: reducing our consumption of petroleum and limiting the release of greenhouse gases," IEEE-USA President Gordon Day said.

The grants are the largest single investment in advanced battery technology for hybrid and electric-drive vehicles. When coupled with an expected $2.4 billion in cost share from the grant awardees, they are expected to create thousands of jobs in the U.S. battery and automotive industries. General Motors will receive about $241 million, Ford will get nearly $100 million and Chrysler $70 million.

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IEEE-USA called for electrifying the transportation system through widespread deployment of plug-in hybrid electric vehicles in its January "National Energy Policy Recommendations." See www.ieeeusa.org/policy/positions/energypolicy.pdf.

The grants were announced by President Barack Obama on Wednesday. See www.whitehouse.gov/the_press_o … d-Electric-Vehicles/.

Source: IEEE-USA

Citation: IEEE-USA commends DOE's $2.4 billion grants to accelerate development of electric vehicles (2009, August 10) retrieved 23 August 2026 from https://sciencex.com/wire-news/11357434/ieee-usa-commends-does-24-billion-grants-to-accelerate-developme.html

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