Obama says U.S. will make 40% of advanced vehicle batteries in five years

President Obama was in Michigan today to visit the construction site of LG Chem/CPI's new advanced battery plant in Holland. The federal government is involved in the plant through a $151.4-million grant, and the visit gave the President the chance to promote American manufacturing. He said the plant was "a symbol where Michigan is going, it's a symbol of where Holland is going and where America's going." As for where the U.S. will be going in the plug-in vehicle space, Obama said this country will make 40 percent of the world's automotive batteries in five years. Right now, the U.S. makes around two percent.

Once the plant is fully operational in 2012, somewhere between 300 and 400 people will be employed there. Last week, the President visited Smith Vehicles Kansas City, pictured above. The feds have put money into nine battery manufacturing projects around the country. Most of the government's $2.4 billion help for advanced batteries went to Michigan.

[Source: Lansing State Journal]

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