Search This Blog

Wednesday, August 5, 2009

Johnson Controls gets $299 million for hybrid automotive battery work

From a news release issued by Johnson Controls:

DETROIT, Aug. 5 /PRNewswire/ -- Johnson Controls, Inc. (NYSE: JCI) today announced that it has been awarded a $299 million grant by the United States Department of Energy under the American Recovery and Reinvestment Act (ARRA) to build domestic manufacturing capacity for advanced batteries for hybrid and electric vehicles. This award represents approximately half of the company's total planned investment of $600 million in domestic advanced battery manufacturing capacity and infrastructure development.

"This investment is an important step toward creating and building an industry in the United States that addresses market requirements and long-term opportunities for growth and new jobs in this country," said Alex Molinaroli, president of Power Solutions for Johnson Controls. "We have assembled a world-class team of suppliers and automotive manufacturers, and we believe this comprehensive approach will enable the United States to establish a domestic industry that is competitive, economically viable and sustainable."

In April, Johnson Controls and its joint venture partner Saft announced that Johnson Controls-Saft was awarded incentives for $148.5 million from the State of Michigan for the establishment of a U.S. manufacturing facility for lithium-ion cells and complete hybrid battery systems in Holland, Michigan. The Holland, Michigan facility will serve the company's global customers, including Ford, for its first plug-in hybrid vehicle for 2012, Azure Dynamics, for its 2010 launch of the next generation Balance™ Hybrid Electric commercial vehicle, Daimler AG and BMW.

No comments:

Post a Comment