"Obama Boosts Michigan's Advanced Battery Industry"

"HOLLAND, Mich. -- The official groundbreaking of a new advanced battery manufacturing plant in Holland on Thursday attracted both President Barack Obama and Michigan Governor Jennifer Granholm.

'Just a couple of years ago,' President Obama said at the event, 'American businesses manufactured only two percent of the world's advanced batteries for electric and hybrid vehicles. But because of what's happening at places like this, in just five years, we'll have up to 40 percent of the world's capacity.'

Compact Power, the North American subsidiary of Korea-based LG Chem Ltd., won a $151.4 million U.S. Department of Energy grant last August to begin production of lithium-ion battery cells for electric vehicles.

The award was one of 13 Michigan-based projects awarded more than $1.35 billion in Recovery Act funding to support advanced battery and electric vehicle manufacturing and development. "

Environment News Service had the story July 16, 2010.

Source: ENS, 07/19/2010