What would help our economy and the environment at the same time?  Massive production of more fuel-efficient vehicles that are made right here in the USA.

Ener1, an advanced Li-ion battery maker based in New York City, is trying to do just that.

They are asking the federal government for a $480 million loan to further develop their lithium-ion battery technology which is a crucial component of plug-in vehicles.

Ener1 Chairman and CEO Charles Gassenheimer says that “advanced lithium-ion battery technology is a basic need for every automaker in the world today, and that need will grow steadily.”

Gassenheimer also states that “building a strong U.S. supply chain in this rapidly emerging industry is a top priority to maintain competitiveness vis-a-vis foreign manufacturers that have already invested very heavily in this linchpin technology.”

The money that Ener1 is applying for would come from a new federal program that would give low-interest loans to help develop U.S. based technologies and enable the large-scale production of fuel-efficient cars and trucks on U.S. soil.

“We are very pleased to be able to participate in an initiative that will help strengthen U.S. energy security, radically reduce greenhouse gases, and sharpen the competitive edge of American producers of fuel-efficient vehicles,” said Ener1 Chairman and CEO Charles Gassenheimer.

“A special federal lending program to incentivize next-generation auto and components manufacturers is exactly what is needed at this juncture to help regain market share for the U.S. in this crucial industry.”

EnerDel, the lithium-ion batter subsidiary of Ener1, is the first and only advanced li-ion automotive manufacturer in the United States.

If the federal funding gets approved, Ener1 could double its manufacturing to produce 600,000 hybrid electric vehicle battery packs per year by 2011.  A second plant could also open and ramp that production up to 1.2 million packs by 2015.

And as a side benefit, these projects could create more than 1,300 new green jobs.

Learn more about Ener1


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