Friday, February 6, 2009

Recharging a high-tech battery industry

Recharging a high-tech battery industry
The country is behind when it comes to advanced vehicle batteries, but innovation and a little stimulus money could head off another OPEC scenario.

NEW YORK ( -- There's a saying as the nation pushes for cleaner electric cars: The United States will end up trading dependence on Saudi oil for dependence on Asian batteries.
Most of the big players in advanced batteries - the ones used to power the cars of tomorrow - are from Japan, South Korea or China.
America's battery industry is in need of a shock. Enter Stimulus.
As part of the nearly $900 billion economic lifeline, lawmakers plan on spending $2 billion in loan guarantees and grants for makers of advanced batteries. They don't necessarily have to be U.S. companies that get the money, but they need to set up shop on American soil.
Industry observers have high hopes for the plan, but worry that the money won't be doled out fast enough or that it will be eaten up by a few big players. Read the whole article on CNN Money

See also our post on the Beurskrach Blog about Lithium and its uses

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