US Supports Goal of 1M Electric Cars by 2015

Reuters reported that the United States Department of Energy (DOE) supports President Obama’s goal of putting a million electric cars in the country’s highways by 2015. The country’s federal policies to achieve this goal will cost $7.5 billion until 2019, including $2.4 billion in grants to lithium-ion battery makers.

As quoted in the market news:

Under the new strategy outlined on Thursday, the DOE is supporting research into new battery technologies and manufacturing methods that would lower the cost of lightweight materials and improve vehicles’ fuel-efficiency.

Click here to read the full Reuters report.