ANNOUNCEMENT 01 Jan 2010

The Department of Energy made this award as part of the Electric Drive Vehicle Battery and Component Manufacturing Initiative, as funded under the stimulus package approved during the 2008-2009 financial crisis.

 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 01 Jan 2010 | Removal date: open ended
Still in force

Financial grant

As part of the Electric Drive Vehicle Battery and Component Manufacturing Initiative, the Department of Energy (DOE) made an award to General Motors Corporation of $105.9 million for the production of high-volume battery packs for the GM Volt. The precise date for this award is not available from the data that the DOE has made public. The January 1, 2010 date shown here is an estimate.

The funding for this project came from the stimulus package that Congress approved in the financial crisis. On February 17, 2009 President Obama signed into law the American Recovery and Reinvestment Act (ARRA), which became Public Law 111-5. One provision in Title IV of the ARRA appropriated $16.8 billion for energy efficiency and renewable energy; $2 billion of those funds were to “be available for grants for the manufacturing of advanced batteries and components and the Secretary shall provide facility funding awards under this section to manufacturers of advanced battery systems and vehicle batteries that are produced in the United States, including advanced lithium ion batteries, hybrid electrical systems, component manufacturers, and software designers.”

AFFECTED SECTORS

 

AFFECTED PRODUCTS