Thursday, July 15, 2010

Obama encourage electric vehicles in Michigan

President Barack Obama appointments to Michigan on Thursday to encourage savings in the electric vehicle battery industry, a sector the management sees as a bright mark in the drooping recovery. Obama will be present at a revolutionary ceremony for a plant that will assemble advanced batteries for Chevrolet and Ford electric cars.

The Compact Power plant in Holland, Mich., is the ninth factory to begin manufacture following the $2.4 billion venture in advanced batteries and electric vehicles Obama announced last August.
Michigan is the biggest recipient of the electric battery grants and is anticipated to receive more than $1 billion.

About $150 million of that is leaving to the Compact Power plant
Investing in electric vehicles has been a central opinion of Obama's message on the economy and clean energy. He's pledged to put 1 million plug-in hybrid electric vehicles on U.S. roads by 2015.

The organization has said the $2.4 billion venture could spur the manufacture of 50,000 batteries a year for plug-in hybrids by 2011 and 500,000 batteries a year for the superior vehicles by late 2014.