Grants or loans For Compounds

In Aug 2009, the Obama management announced a $2.4 billion investment in hybrid cars. Even of the grants offered to the American motorcar Production to promote hybrid and electric cars besides as to cultivate the batteries that capacity these cars. Moreover, almighty dollar has been granted to Car dealers to edit sales of hybrid cars and deed consumers a gap for investing in the hybrid cars. This money will help American automakers become competitive in a world market and meet President Obama's plans to have 1 million plug-in hybrids on the roads by 2015.

These universities are charged with the task of training researchers, technicians and service providers to keep the momentum rolling toward these advanced vehicles and the 2015 deadline.

Consumer Incentives

Several states offer rebates to help consumers offset the cost of a hybrid car. The rebates range from $500 to $5,000, and most of them are offered as tax rebates.

The U.S. Department of Energy will be determining the winners of this grant money.

Distribution of Grant Money

Grants totaling $1.5 billion have been given to U.S.-based companies to produce batteries and battery components and expand battery recycling; grants of $500 million have been awarded to manufacturers to produce components such as electric motors, drive train parts and power electronics; $400 million in grants have been awarded to buy plug-in hybrid and all-electric vehicles to test demonstrations in different locations in the United States. Grants have gone toward educating and training the work force to help transition to producing these new vehicles.

Grant Recipients

General Motors received $241 million to make the battery packs needed to fuel the Chevrolet Volt. Ford was granted $92.7 million make hybrid electric cars and their components. Chrysler received $70 million to produce plug-in hybrid electric trucks and minivans. A company in Elkhart, Ind., called Navistar will receive a $39 million grant to build 400 battery-powered trucks.

Training Grants

The University of Michigan, Wayne State University in Detroit, and Michigan Technological University in Houghton Michigan have received $40 million in grant money.

Grant Requirements

Hybrid vehicle grants are available to U.S. manufacturers for research, production, training and battery manufacturing. Additional money has been set aside for the construction of truck stop charging stations and electric rails critically needed to accommodate these cars by 2015.

Other states give special privileges to drivers of hybrid cars. Consumers who purchase Peterbilt hybrid trucks (Model 330 Hybrid Electric and Model 335) are eligible for a rebate worth 25 percent of total vehicle cost. Consumers can find out what incentives their state is offering by going to their state attorney general's website.