Chrysler LLC is asking the U.S. Department of Energy for $224 million from the department’s Transportation Electrification Initiative to finance the development of electric vehicles (EVs). It joins a long list of competitors also seeking federal funds.
The list of vehicles targeted from the program includes the Dodge Ram 1500 Plug-in Hybrid-electric Vehicles (PHEV), Chrysler Town & Country PHEVs and Chrysler Town & Country Electric Vehicles.
“Department of Energy (DOE) initiatives aimed at vehicle electrification “demonstrates how Chrysler LLC, with its partners and the DOE, can work together to promote technological innovation and energy independence in the United States,” Chrysler said.
Chrysler LLC applied for two programs established by the DOE: the Electric Drive Vehicle Battery and Component Manufacturing Initiative; and the Transportation Electrification Initiative.
Both are designed to speed up development, demonstration, evaluation and manufacturing of EVs and PHEVs. The programs represent a 50/50 cost-share opportunity with $224 million from Chrysler LLC and its partners, combined with a matching $224 million from the DOE. These funds will accelerate the market introduction and penetration of advanced powertrains. (more…)