The American car is in danger of becoming extinct. President Obama has pledged to make America the leading manufacturer of green cars, but is it wise for the government be involved in the car industry?
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The American car is in danger of becoming extinct. President Obama has pledged to make America the leading manufacturer of green cars, but is it wise for the government be involved in the car industry? Green cars make great PR. But the industry’s mainstay is still the same internal combustion gas engine that’s powered cars for a century. There had been a lot of news on electric vehicles launch and development and I was unable to post them until now First stop, last week, US petrochemical company ExxonMobil Chemical launched an electric car sharing and rental program called AltCar in Baltimore, Maryland, alongside Canadian battery developer Electrovaya. Vehicles in the program called the Maya-300, are powered by lithium ion battery technology that uses ExxonMobil’s battery separator film, which the company manufactures in If you thought the Obama administration was finished putting a hammerlock on the United States automotive industry, think again. On Wednesday, Energy Secretary Steve Chu announced that the first loans have been finalized from the $25 billion Advanced Technology Vehicle Manufacturing Program – a pot of money that will be doled out by the Department of Energy to help manufacturers offset retooling costs in converting factories to build eco-friendlier cars. Among the lucky applicants receiving app The Obama Administration today announced $8 billion in conditional loan commitments for development of green cars, including some which is expected to create up to 650 Bay Area jobs. The money includes $5.9 billion for Ford Motor Company to transform factories across Illinois, Kentucky, Michigan, Missouri, and Ohio to produce 13 more fuel efficient models; $1.6 billion to Nissan North America, Inc. to retool their Smyrna, Tenn., factory to build advanced electric automobiles and to build an ad |
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