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Obama hands out $2.4bn to jump-start US electric car development http://apocadocs.com/s.pl?1249649589
The Obama Administration this week pledged $2.4bn (£1.4bn) in stimulus money in its bid to make America a global leader in electric and hybrid car development.
"For too long we failed to invest in this kind of work, even as countries such as China and Japan were racing ahead," Obama said as he and his colleagues travelled the US this week doling out economic stimulus funds to programmes in 20 states.
Michigan, the state that is the traditional home of the US car industry and in the fallout from the recession has the nation's highest unemployment rate at 15.2 per cent, received 11 grants worth $1.36bn to develop new kinds of batteries and electric car technologies, as well as build new factories to manufacture them.
General Motors received more than $241m to make battery packs for its imminent Chevrolet Volt electric car and build a rear-wheel electric-drive system.
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That's almost 0.3 percent of the cost of the Iraq war!
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