The Obama administration launched a fresh US$120-million research project Friday, aimed at developing cheaper batteries for electric vehicles, a sector that has faltered despite billions of dollars of prior government investment.
The Energy Department will dole out the money over five years to establish a research hub for batteries and energy storage, backed by five national laboratories, five Midwestern universities and four private firms.
The four companies joining the project are Dow Chemical Co , Applied Materials Inc, Johnson Controls Inc and Clean Energy Trust.
During the Obama administration\'s first term, jump-starting advanced battery manufacturing was a major national initiative, which saw the Energy Department plow US$2 billion of grants into 29 battery makers to build or update plants.
The Energy Department will dole out the money over five years to establish a research hub for batteries and energy storage, backed by five national laboratories, five Midwestern universities and four private firms.
The four companies joining the project are Dow Chemical Co , Applied Materials Inc, Johnson Controls Inc and Clean Energy Trust.
During the Obama administration\'s first term, jump-starting advanced battery manufacturing was a major national initiative, which saw the Energy Department plow US$2 billion of grants into 29 battery makers to build or update plants.