Funds Flow to Electric Cars: White House Unveils $2.4 Billion in Grants to Jump-Start Industry in Midwest

By Elizabeth Williamson on August 6, 2009

President Barack Obama used a factory in one of the most economically battered U.S. manufacturing regions Wednesday as the backdrop to unveil $2.4 billion in stimulus grants to jump-start an electric-vehicle industry centered in the Midwest. The program, outlined by Mr. Obama, Vice President Joe Biden and other members of his administration in separate appearances in six states, would make the U.S. government the major financial backer for 48 different projects to develop and produce electric-vehicle batteries, electric-drive components and various kinds of electric vehicles.

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