McCain proposes $300 million prize for battery tech

Motor Authority » McCain proposes $300 million prize for battery tech

Republican presidential candidate John McCain has intensified his efforts to fight global warming by proposing a $300 million government prize to the first person or corporation to develop vehicle battery technology superior to anything currently available. Speaking at Fresno State University in California today, McCain said that such a bounty would be a small price to pay for technology that could significantly reduce America’s dependence on foreign oil.
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As for the battery prize, McCain envisages the winning technology as having the size, capacity, cost and power to leapfrog the batteries found in current hybrid and all-electric vehicles. In addition to the battery prize, McCain has also proposed a new ‘Clean Car Challenge’ that would provide U.S. carmakers with a $5,000 tax credit for every zero-emissions vehicle they develop and sell, reports The Detroit News.