Home | Business News | Browse by Publication | T | The Washington Times (Washington, DC)

Stimulus to aid foreign battery builders; Grants impel electric cars.

Publication: The Washington Times (Washington, DC)
Publication Date: 06-AUG-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Stimulus to aid foreign battery builders; Grants impel electric cars.(PAGE ONE)

Article Excerpt
Byline: Jerry Seper, THE WASHINGTON TIMES

Nearly half of the $2.4 billion in federal grant money awarded Wednesday to stimulate the U.S. economy and boost the production of hybrid and electric vehicles went to six companies with ties to places as far away as Russia, China, South Korea and France.

President Obama announced the grants during a visit to Indiana and said the funds would create domestic jobs and instigate more green manufacturing in the United States. But because so few American companies have the necessary technology, much of the money will initially go toward manufacturing electric vehicle batteries overseas.

Three grants went to General Motors Corp., one for $105.9 million to help produce high-volume battery packs for the GM Volt automobile. But cells for the packs will be built in South Korea and by other cell providers to be named.

The largest single grant, for $299.2 million, went to Johnson Controls Inc. for the production of nickel-cobalt-metal...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from The Washington Times (Washington, DC)
8 GOP senators for, 30 against Sotomayor.(NATION), August 06, 2009
Court upholds ban on roads in national forests; Ruling declares 2005 B..., August 06, 2009
Post office closings, fewer mail days eyed; Service projects $7 billio..., August 06, 2009
Defense games, arms races: Not what you think.(NATION)(WHAT'S THE BIG ..., August 06, 2009
Time to go on offense against Chinese, other cyberespionage.(NATION)(W..., August 06, 2009

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.