Snatching the car battery biz from Asia

Ener1 aims to fuel the car of the future and bring jobs to the Midwest. But the jury is still out on whether or not it can compete against its larger, more established rivals.

INDIANAPOLIS (CNNMoney.com) — Thousands of jobs are riding on Ener1’s efforts to build the best car battery in the world.

The start-up firm is the only U.S. company able to mass produce batteries on American soil for an automobile industry poised to make a monumental shift from gasoline to electric power.

Many say whoever controls the battery industry will control the auto industry and the thousands of jobs that go with it.

Ener1’s newly opened production facility near Indianapolis could employ 3,000 workers. Like other renewable energy companies popping up in the Midwest, people are hoping Ener1 can replace some of the fast-disappearing auto and other manufacturing jobs.

Its lithium-ion battery technology is praised for being one of the best available. But Ener1 must compete for big contracts against larger, mostly Asian firms with much more experience in this field.

CNN