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]