Industry News
Big Three ask U.S. administration for £500m grant for hybrid battery technology research
17th January 2007
The Wall Street Journal reported on 10 January that General Motors, Ford and Chrysler have jointly demanded grant aid for $500 million over the next five years to support their R&D activity aimed at supporting their efforts to develop lithium-ion battery technology for next-generation hybrid and battery-electric vehicles – such as the Volt plug-in hybrid concept shown by GM at the Detroit show this month.
The document sent to a White House official is said to underline the three manufacturers’ view that the U.S. industry would penalised in the market if it did not manage to catch up with the Japanese manufacturers’ lead in hybrid light vehicle technology. The three OEMs’ CEOs obtained an audience with President Bush last November, following a request for a meeting in the first half of the year.
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