US Gov't Launches New Electric Car Battery Program
The Obama administration launched a fresh $120-million research project Friday, aimed at developing cheaper batteries for electric vehicles, a sector that has faltered despite billions of dollars of prior government investment.
The Energy Department will dole out the money over five years to establish a research hub for batteries and energy storage, backed by five national laboratories, five Midwestern universities and four private firms.
The four companies joining the project are Dow Chemical Co, Applied Materials Inc, Johnson Controls Inc and Clean Energy Trust.
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