US Sen Levin Pushes For Grants To Car-Battery Manufacturers
January 12 2009 - 3:12PM
Dow Jones News
Sen. Carl Levin, D-Mich., is pushing for a federal grant program
to help U.S. companies develop batteries for fuel-efficient
cars.
The program would provide grants to manufacturers to invest in
the research and development of lithium-ion batteries used in
hybrids and other fuel-efficient cars. A program to spur the
development of battery technology was approved in a 2007 energy law
but needs funding.
Levin called on Monday for $1 billion in funding for grants to
be included in the economic stimulus package being crafted by
President-elect Barack Obama and congressional leaders.
Levin said battery manufacturers are assessing whether to
operate in the U.S. or other countries.
"We cannot afford to lose the development and production of
advanced batteries to other countries that are willing to offer
greater financial incentives than we are," Levin said from the
Senate floor.
-By Josh Mitchell, Dow Jones Newswires; 202-862-6637;
joshua.mitchell@dowjones.com
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