This RV plant in Elkhart, Ind., has laid off a third of its workers.
President Obama has announced $2.4 billion in grants to companies and universities that develop electric vehicles, parts for electric vehicles and the batteries that run them. The money will come the American Recovery and Reinvestment Act, the $787 billion stimulus package.
Obama detailed the grants today in Elkhart County, Ind., scene of the worst unemployment rate in the U.S at 16.8 percent. The president has made four trips there in the last 15 months. Elkhart is a manufacturing center for R.V.s, or was until the industry collapsed. One of those plants, Navistar International, will get a $39 million grant to develop manufacturing of electric trucks. Indiana stands to get seven grants totaling $400 million.
Vice President Biden, who's in Michigan, scene of the worst state unemployment rate at 15.2 percent, announced $1 billion in grants there for developing fuel cells. The administration made a full-court press of the announcement, with visits by officials to North Carolina, Florida, Pennsylvania and Missouri.
One $10 million grant goes to Smith Electric in Missouri for "up to 100 electric vehicles." Another $73 million grant goes to Chrysler for manufacturing 220 "plug-in hybrid and electric pickup trucks and vans" in St. Louis and Michigan. Ford's getting a $30 million grant for manufacturing "plug-in hybrid vehicles" in Kansas City and Michigan.
The idea of the grants, according to the White House press release is to "establish American leadership in creating the next generation of advanced vehicles." The $2.4 billion public outlay is to be matched by the award winners.
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