Investments in electric drive delivering dividends for consumers, the industry and the economy
Thursday, July 15, 2010
July 15, 2010 -- Federal programs and funding
that EDTA and its members worked to secure are
already jump starting the industry, driving
down costs and delivering jobs. In a report
released today by the Department of Energy, the
investments made during the Recovery Act of
2009 are producing advanced electric drive
jobs, lowering the costs of batteries,
supporting infrastructure developments across
the United States, and building U.S.
manufacturing capacity.
The report, The
Recovery Act: Transforming America’s
Transportation Sector, projects that Federal
investments will help lower some electric
vehicle battery costs nearly 70% by 2015,
create tens of thousands of American jobs and
increase public charging locations to over
20,000 locations by 2012.
As part of
the Administration’s ongoing emphasis on
electric drive and a week long blitz of visits
to electric drive manufacturers, President
Obama today visited the groundbreaking of EDTA
member Compact Power’s new battery
manufacturing plant in Holland, MI. The
President cited the Department of Energy
report, including the fact that over $2.5
billion was included in the Recovery Act to
establish 30 electric drive vehicle battery and
component projects and support plug-in electric
drive demonstrations.
The full
report and projections can be found on our
website by clicking
here.