Obama Administration is requesting $2 Billion for Electric Vehicle Research & Development funding

President Obama is expecting Congress to approve the use of royalties granted for the use of oil exploration to give $2 billion of funding for the Research and Development of advanced vehicle technologies over a ten-year period.

This funding is intended to be used across several fields of research, including new technologies in the rechargeable battery field for autos. Congress was not as strongly focused as President Obama was regarding this endeavor, as they only initially granted half of the $650 million that was initially requested for Electrical vehicle research.

As referenced by Gas2.org:

The research mentioned is for the development of electric vehicle, biofuel, battery, and compressed natural gas technology. The development of battery technology is important to both electric vehicles, as well as the electricity grid, and the entire effort to switch to renewable energy sources such as solar and wind power.

It’s tremendous that the US President is pushing for advances in electric vehicles, and the associated battery technology that goes along with it, but is it realistic? President Obama has stated a goal of 1 million electric vehicles on the roads by 2015, just under 2 years from now. Even with the huge amount of funding being requested, the development of rechargeable battery technology will likely not happen so quickly as he has initially anticipated.

Hopefully this backing will be put to good use and we can see some future advancements in the electric vehicle as well as rechargeable battery developments, even if we do not reach the lofty goal of a million electrics whizzing down the road by 2015.
By Michael Nace

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