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THURSDAY, NOVEMBER 26, 2009
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5

Would-Be Car-Battery Kings Jostle Over $2.4B From Feds

States seek to become lithium-ion capital of US

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(Newser) – Some 165 companies and states are battling for a $2.4 billion Obama administration grant aimed at making the US a leader in electric-car batteries, the Wall Street Journal reports. General Motors, Dow Chemical, and General Electric are among the firms vying for the money; states like Michigan, Kentucky, and Massachusetts are on board, hoping to become the center of an industry that promises big things.

Car batteries are currently a $9 billion a year market, but that could soar to $150 billion by 2030, a study finds. And “if you're the place where the batteries are made, there’s an opportunity to spin it into other things as well,” said a Michigan exec. The grant would fund the building of lithium-ion batteries, an industry frontrunner.

A123Systems announced today it has raised $69 million from GE and other investors to accelerate the expansion of its US lithium ion battery manufacturing and smart grid capabilities.
A123Systems announced today it has raised $69 million from GE and other investors to accelerate the expansion of its US lithium ion battery manufacturing and smart grid capabilities.   (Business Wire)
General Motors CEO Rick Wagoner introduces the Chevrolet Volt battery pack at the North American International Auto Show, Jan. 12, 2009, in Detroit.
General Motors CEO Rick Wagoner introduces the Chevrolet Volt battery pack at the North American International Auto Show, Jan. 12, 2009, in Detroit.   (AP Photo)
US Energy Secretary Steven Chu gestures during the closing joint press conference of the energy meeting of the Group of Eight industrialized countries in Rome yesterday.
US Energy Secretary Steven Chu gestures during the closing joint press conference of the energy meeting of the Group of Eight industrialized countries in Rome yesterday.   (AP Photo)
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5 comments
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Doctor_Zaius
May 26, 09 9:34 AM CDT
Drill baby, Drill! Reply
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Fondue
May 26, 09 10:13 AM CDT
Sarcasm I hope
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-1
IN RESPONSE:
Fondue
May 26, 09 10:14 AM CDT
(and it wasn't me that down-thumbed you =]
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TerrifiedCitizen
May 26, 09 11:18 AM CDT
I was reading the other day that several actual functional ancient batteries were discovered in present day Iraq by archeologists near the beginning of the last century. Termed the "Baghdad Batteries", and depending on whose interpretation you read, the discoveries may predate Alessandro Volta's more modern invention by nearly a millennium. The thought that ancient societies were technologically backward could be another outdated theory. Merely the fact that ancient evidence has been destroyed or hasn't been found yet, doesn't necessarily mean our theories are correct; it only means it's the best guess at this moment. Reply
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psycada
May 26, 09 1:04 PM CDT
You are correct TC. The Baghdad battery is supposed to be one of the very first batteries and is thought to have been used for electroplating jewelry. Clever people they were.
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energy • General Motors • General Electric • Kentucky • Massachusetts • Michigan • funding • auto industry • grants • lithium ion batteries • Dow Chemical Co. • Department of Energy • Obama administration

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