Obama Announces $45M in Grants to MI Companies
President Barack Obama today announced that six Southeast Michigan-based companies would receive grants totaling approximately $45 million from the U.S. Department of Energy (DOE) to develop technologies used to make vehicles more fuel efficient. He made the announcement during a tour of Johnson Controls‘ advanced battery manufacturing facility in Holland, MI.
The Michigan companies receiving funding are Ford ($2.7 million), General Motors ($14 million), Chrysler ($10 million), Denso ($2.6 million), Vehma International of America ($10 million), and United States Automotive Materials Partnership ($3 million).
The DOE is awarding a total of $175 million to 40 projects in 15 states, which builds on the President’s recent announcement of fuel-efficiency standards for cars and light trucks of 54.5 miles per gallon by 2025.