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  • Obama sends stimulus aid to foreign firms (Grants impel electric cars)

    08/06/2009 11:26:25 AM PDT · by jazusamo · 26 replies · 1,123+ views
    The Washington Times ^ | August 6, 2009 | Jerry Seper
    Nearly half of the $2.4 billion in federal grant money awarded Wednesday to stimulate the U.S. economy and boost the production of hybrid and electric vehicles went to six companies with ties to places as far away as Russia, China, South Korea and France. President Obama announced the grants during a visit to Indiana and said the funds would create domestic jobs and instigate more "green" manufacturing in the United States. But because so few American companies have the necessary technology, much of the money will initially go toward manufacturing electric vehicle batteries overseas. Three grants went to General Motors...