Energy Department awards $55 million to advance fuel efficiency and electric vehicle technologies

As part of the Obama Administration’s strategy to increase energy productivity, reduce America’s reliance on foreign oil and cut harmful emissions, the Department of Energy awarded $55 million to advance fuel efficiency and electric vehicle technologies through 24 projects.

The program is directly aiming at making electric vehicles as affordable to own as a gas-powered vehicles by 2022.

The money awarded went to projects ranging from material science on battery technologies to systems for making components lighter in order to increase efficiency of both battery-powered and gas-powered vehicles.