From the left-wing Associated Press. (H/T Gateway Pundit)
Excerpt:
President Barack Obama celebrated the opening of an advanced battery plant in Michigan on Monday as a critical boost for hybrid and electric cars — and a success for his administration’s economic stimulus program.
But even as mass-produced advanced batteries start rolling off assembly lines, costs are high for consumers, and hurdles remain.
“This is about the birth of an entire new industry in America, an industry that’s going to be central to the next generation of cars,” Obama said Monday in a phone call broadcast at the opening of A123 Systems Inc.’s lithium ion battery plant in Livonia, Mich.
“And it’s going to allow us to start exporting those cars, making them comfortable, convenient, and affordable. …. When folks lift up their hoods on the cars of the future, I want them to see engines and batteries that are stamped: ‘Made in America,’” Obama said, according to a transcript of the call released by the White House…
…Despite the fanfare, the battery industry faces many hurdles. Gas-electric hybrid vehicles represent about 1 percent of new vehicle sales, and many plug-in hybrids and battery electric cars are just entering the market.
Costs are high. The government has estimated that a battery with a 100-mile range costs about $33,000, although stimulus money could bring that down to $10,000 by the end of 2015.
That stimulus money came from job-producing investors and private companies. The government wasted the money, after taking a cut for their unions.