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.

Sarah Schmid Stevenson is the Custom Content Editor for Xconomy Insight. You can reach her at sschmid@xconomy.com. Follow @Xconomy

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