The DOE announced that the US Advanced Battery Consortium (USABC), an industry group managed by GM, Ford and Chrysler, will lead an industry-wide effort to accelerate development of next-generation battery technologies for electrified vehicles.

The DOE will invest $12.5 million per year for five years, subject to congressional appropriations, which will be matched by an equal amount of funding from the private sector. USABC will solicit, fund, and manage R&D projects, engaging battery and component manufacturers, universities and the national laboratories to coordinate research on advanced energy storage technologies for hybrids, PHEVs and EVs.

This initiative supports the DOE’s EV Everywhere Challenge, a national effort aimed at making electrified vehicles more affordable and convenient for the average American family by specifically targeting dramatic technological and cost improvements in batteries, electric motors, power electronics, light-weight structures, and fast charging technology.

Source: DOE