3.B.1: Investment
Make the largest investment in technology for electric vehicles and transportation electrification in U.S. history. Other Information:
In early August the Administration announced $2 billion in grants which will catalyze private sector investment to build a
globally competitive domestic battery and electric drive component industry. With this support, American factories will produce
the lightest, cheapest, longest-lasting, and most powerful vehicle batteries in the world. American batteries and components
will power affordable electric cars that can travel over hundred miles on a single charge and offer customers superb performance.
These vehicles will be even more attractive thanks to the tax credit of up to $7,500 offered for electric and plug-in electric
vehicles in the Recovery Act. The Administration is also making a $400 million holistic investment in transportation electrification
as a system. Beyond batteries, vehicles, and components, this includes demonstrating pilot systems that put the pieces together
– testing the infrastructure to plug the cars, training the workers to build and service them, and educating the consumers
who will buy them. The lessons from these projects will help the private sector more quickly develop profitable electric vehicles
that meet the needs of drivers.
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