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White House Energy Advisor Reviews $500M Detroit Three Battery Assistance Proposal

$500 Million Well Spent!

Washington DC January 9, 2007; The AIADA newsletter reported that according to a Wall Street Journal report, a technology advisor to the President and the Energy Department is reviewing a proposal drafted by the Detroit Three automakers which calls for the federal government to spend roughly $500 million over five years to subsidize the development of advanced batteries required to power future vehicles.

In a white paper delivered by the chief executives of GM, Ford Motor Co. and DaimlerChrysler AG's Chrysler Group, the automakers say the U.S. is trailing Japan in development of batteries for fuel-efficient automobiles and could suffer economically if the government doesn't help accelerate domestic research efforts in this area, company officials said.

Japan has the lead in powerful, lightweight battery design. Toyota, for example, has poured millions into new technologies and fund development projects with myriad suppliers.