There has been a huge amount of government funding given out recently, primarily in the form of grants, for automakers to explore battery technology. Toyota Motor Corp. however, sought none of it because they have no plans on moving that work out of Japan at this time.
Toyota said that it does support the government’s offering of such programs, and views the recent receipt by Nissan Motor Co. of $1.6 billion in funding by way of government grants as a positive sign, reports Automotive News.
On Wednesday, the U.S. government awarded $2.4 billion in grants for work on batteries or electric vehicles to various companies including; General Motors Co., Chrysler Group, Ford Motor Co. and Nissan. California startup Tesla Motors also received Department of Energy funding earlier this year.
By: Stephen Calogera