President Obama has made a declaration that his government will actually allocate a sum of $2.4 billion, in the form of grants in order to help the development of electric cars in the United States. This is actually a mere strategy for not relying anymore on other countries such as Japan and China. America has lagged since long in this field, giving enough time for other countries to get steps further in the production of electric cars.
Research seems to be the major part that is being taken into consideration by Obama, since he will be investing the greatest part of the fund into research in this particular sector. The most eminent trouble is about the batteries and this is what they will be basing their research on. Recycling solutions are also being taken into account through this research. The money that has been allocated for supporting the concerned companies is actually $1.5 billion. The President Barrack Obama seems not wanting these companies to go same as the Monaco RV. You should remember this company which was granted $39 m for realization of some 400 of electrical trucks upon financial troubles.
There is more than a company that is going to benefit from this new plan. Among them are General Motors, Ford and Chrysler.
The companies in the field of production of batteries, namely Johnson Controls (nickel and cobalt battery design specialist) and Compact Power (Chevy Volt Battery producer) will not be left out either. They will also be benefitting from these subsidies.
Yet, during his speech, the President Barrack Obama made it clear how these subsidies will be granted to them. It seems that the President wants the fund to go on major part on the conception of batteries but also better recycling structure which amounts to $1.5 billion. Another $500m will get as grants to the realization of electrical components. It will normally comprise of engines and transmission systems. Yet a further sum of $400m will be allocated for setting up an organization for better evaluation of the true potential of electric cars and hybrid.
I personally believe that this is a really good idea and plan that Obama has put forward. There will be many benefits to take out of it, employment creation, less pollution, less imports on the American budget and more.