Thanks to $2.4 billion in grants awarded as part of the American Recovery and Reinvestment Act, 48 projects in 20 states will have more money to advance battery and electric vehicle technology.

“If we want to reduce our dependence on oil, put Americans back to work and reassert our manufacturing sector as one of the greatest in the world, we must produce the advanced, efficient vehicles of the future,” said President Obama. Source: White House

The grants include $1.5 billion to U.S.-based battery manufacturing companies, $500 million to U.S.-based electric vehicle component manufacturers, and $400 million to purchase plug-in hybrids and EVs as part of a massive road test.

Michigan, with its beleaguered economy due to the woes in the auto industry, will receive more than $1 billion of the $2.4 billion. GM, Chrysler, and Ford will share more than $400 million but companies like A123 and Johnson Controls will receive the bulk of the funding awarded to companies in that state.

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