The Obama administration will soon announce the distribution of roughly $2 billion in stimulus grants to companies making advanced batteries for hybrid and all-electric vehicles, as well as related components.
Currently, advanced batteries, such as those made from lithium, are made primarily in Japan, China, Taiwan and South Korea. But numerous companies are vying for the funds that will allow them to set up shop in the U.S.
Companies could receive up to $150 million each, and the Department of Energy has received application requests totaling more than $6 billion.
A New York Times piece takes a closer look at some of the players involved and the goals that the Obama administration has set for the industry. Link to the story below.
