U.S. awards $600 million in car battery grants

WASHINGTON (Reuters) – Companies working with Ford Motor Co, Chrysler Group and General Motors Corp received more than $600 million on Wednesday to further development of batteries for hybrids and electric cars.

The awards were part of $2.4 billion in grants being announced by the Obama administration as part of its “green” economy vision and efforts to enhance U.S. energy independence.

The grants represent the nation’s largest-ever investment in battery technology for clean-energy cars, Obama said while visiting a plant in Wakarusa, Indiana, owned by Navistar International Corp.

Reuters