WASHINGTON, D.C. --- The Energy Department last week announced it will provide up to $14 million in funding for a $28 million cost-shared project by the United States Advanced Battery Consortium (USABC) for plug-in hybrid electric vehicle (PHEV) battery development. This research aims to find solutions to improving battery performance so vehicles can deliver up to 40 miles of electric range without recharging. "By improving batteries for plug-in hybrids, we can help achieve the President's goal of reducing gasoline usage by 20 percent within the decade," said Energy Secretary Samuel W. Bodman. USABC is a consortium of the United States Council for Automotive Research (USCAR), the umbrella organization for collaborative research among DaimlerChrysler Corp., Ford Motor Co. and General Motors Corp. Supported by a cooperative agreement with the Energy Department, USABC's mission is to develop electrochemical energy storage technologies that support commercialization of fuel cell, hybrid, and electric vehicles.

Originally posted on Fleet Financials