DEPARTMENT OF ENERGY
THE RECOVERY ACT:
TRANSFORMING AMERICA’S TRANSPORTATION SECTOR
BATTERIES AND ELECTRIC VEHICLES
WEDNESDAY, JULY 14, 2010
**Embargoed until 8:00 PM EDT**
The Recovery Act:
Transforming America’s Transportation Sector
Batteries and Electric Vehicles
The Obama Administration is investing in a broad portfolio of advanced vehicle technologies.
These investments—investments in American ingenuity, innovation, and manufacturing—are
driving down the costs associated with electric vehicles and expanding the domestic market.
Investments in batteries alone, for example, should help lower the cost of some electric car
batteries by nearly 70 percent before the end of 2015. What’s more, thanks in part to these
investments, U.S. factories will be able to produce batteries and components to support up
to 500,000 electric-drive vehicles annually by 2015. Overall, these investments will create
tens of thousands of American jobs.
As part of the Department of Energy’s $12 billion investment in advanced vehicle technologies,
the Department is investing more than $5 billion to electrify America’s transportation sector.
These investments under the American Recovery and Reinvestment Act and DOE’s Advanced
Technology Vehicle Manufacturing (ATVM) Loan Program are supporting the development,
manufacturing, and deployment of the batteries, components, vehicles, and chargers necessary to
put millions of electric vehicles on America’s roads.
The Recovery Act included $2.4 billion to establish 30 electric vehicle battery and component
manufacturing plants and support some of the world’s first electric vehicle demonstration
projects. For every dollar of the $2.4 billion, the companies have matched it at minimum dollar
for dollar. Additionally, DOE’s Advanced Research Projects Agency-Ener