President Obama Details $2.4 Billion in Grants For Electric VehiclesS

Speaking at the Edison Electric Vehicle Tech Center in Pomona, California, BHO dropped details on exactly who can and will receive money for helping put one million plug-in hybrids on the road by 2015.

The plan is as follows:

* The Department of Energy is offering up to $1.5 billion in grants to U.S. based manufacturers to produce these highly efficient batteries and their components.

* The Department of Energy is offering up to $500 million in grants to U.S. based manufacturers to produce other components needed for electric vehicles, such as electric motors and other components.

* The Department of Energy is offering up to $400 million to demonstrate and evaluate Plug-In Hybrids and other electric infrastructure concepts — like truck stop charging station, electric rail, and training for technicians to build and repair electric vehicles.

All good news.

Another thing I've realized? After the last few months of $792 billion bailouts and an additional trillion dollars of various other cash infusions, and an additional trillion dollars going to AIG's janitorial staff, $2.4 billion just doesn't sound like a significant amount of money anymore. [Physorg, Whitehouse.gov]