Ann Arbor reaps windfall of investment for battery technologies
Advanced batteries for cars might scream Detroit but they mean big investment (and jobs) for Ann Arbor.Excerpt:The auto industry’s rapid embrace of lithium-ion batteries for future electric vehicles is fueling an oasis of investment for Ann Arbor in the midst of the economic desert that’s drying opportunity in Michigan.Ann Arbor’s scientific contributions to the battery development race are evident in the success of researchers and business executives in landing enormous amounts of government funding and private capital to accelerate the technology.A123Systems, a startup with strong ties to Ann Arbor, received $249.1 million in grant funding through the federal stimulus package in an announcement Aug. 5 in Detroit. The announcement was coupled with additional grants totaling some $2.4 billion, including more than $1 billion for Michigan operations.Read the rest of the story here.
Advanced batteries for cars might scream Detroit but they mean big investment (and jobs) for Ann Arbor.
Excerpt:
The auto industry’s rapid embrace of lithium-ion batteries for future electric vehicles is fueling an oasis of investment for Ann Arbor in the midst of the economic desert that’s drying opportunity in Michigan.
Ann Arbor’s scientific contributions to the battery development race are evident in the success of researchers and business executives in landing enormous amounts of government funding and private capital to accelerate the technology.
A123Systems, a startup with strong ties to Ann Arbor, received $249.1 million in grant funding through the federal stimulus package in an announcement Aug. 5 in Detroit. The announcement was coupled with additional grants totaling some $2.4 billion, including more than $1 billion for Michigan operations.
Read the rest of the story here.
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