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It goes by a different name, but the White House on Aug. 5, 2009, announced $2.4 billion in high-tech manufacturing grants that sound a lot like the "Advanced Manufacturing Fund" Barack Obama promised during the campaign. The grants are geared toward keeping American companies at the forefront of emerging manufacturing technologies.
The 48 grants announced in August, which were authorized under the economic stimulus package passed in February, will fund "the manufacturing and deployment of electric vehicles, batteries and components" in the United States, according to the White House. The winners were selected through "a highly competitive process by the Department of Energy" and represent "the single largest investment in advanced battery technology for hybrid and electric-drive vehicles ever made." The federal funds must be matched on a dollar-for-dollar basis by the recipients.
The grants include $1.5 billion for making batteries, battery components and expanding battery recycling capacity; $500 million for electric drive components for vehicles, including electric motors, power electronics and other drive train components; and $400 million to purchase thousands of plug-in hybrid and all-electric vehicles for test demonstrations, deployment, evaluation, and infrastructure installation, as well as work force training to support the shift to electric transportation systems.
We consider this a Promise Kept.
The White House, "President Obama Announces $2.4 Billion in Grants to Accelerate the Manufacturing and Deployment of the Next Generation of U.S. Batteries and Electric Vehicles ( news release ), Aug. 5, 2009