Fearing Asian dominance of the market to produce lithium-ion batteries for electric cars, major U.S. auto parts makers are asking federal and state governments to provide subsidies and incentives to develop the new technology. Meeting in Michigan, the parts makers said their industry needs government investment in research and development, as well as tax incentives, to help them get lithium-ion battery production off the ground. Otherwise, Japanese, Korean, and Chinese battery makers for hybrid and electric cars will dominate the market, creating what one executive labeled a foreign “cartel.” The lithium-ion batteries, which can hold a larger electrical charge and are longer-lasting than nickel-metal batteries, are used for plug-in vehicles.
Asian auto suppliers posted a $42 billion profit between 2002 and 2007, while U.S. companies lost $10 billion over the same period. The U.S. government has committed to spending $30 million over the next three years on plug-in projects planned by GM, Chrysler, and Ford.
U.S. Car Companies Seek Government Help in Battery Race
More From E360
-
Oceans
Dire Straits: Can a Fishing Ban Save the Elusive European Eel?
-
Climate
Scientists Are Trying to Coax the Ocean to Absorb More CO2
-
INTERVIEW
Marina Silva on Brazil’s Fight to Turn the Tide on Deforestation
-
Solutions
Solomon Islands Tribes Sell Carbon Credits, Not Their Trees
-
INTERVIEW
With Sea Turtles in Peril, a Call for New Strategies to Save Them
-
RIVERS
Jared Kushner Has Big Plans for Delta of Europe’s Last Wild River
-
Energy
A Nuclear Power Revival Is Sparking a Surge in Uranium Mining
-
OPINION
Despite Official Vote, the Evidence of the Anthropocene Is Clear
-
INTERVIEW
At 11,500 Feet, a ‘Climate Fast’ to Save the Melting Himalaya
-
Oceans
Octopuses Are Highly Intelligent. Should They Be Farmed for Food?
-
Climate
Nations Are Undercounting Emissions, Putting UN Goals at Risk
-
Solutions
As Carbon Air Capture Ramps Up, Major Hurdles Remain