The 2.4 billion dollars announced by President Obama on Tuesday is meant to stimulate the American economy and increase the production of "green" cars.
Unfortunately, about half of the money went to foreign firms, and much of that to foreign workers.
GM received 105.9 million dollars for battery packs for the GM Volt. But the cells for the batteries will be built in South Korea.
A French battery producer was the recipient of a $95.5 million grant.
A123 Systems Inc. got $249.1 million for batteries it will be producing in China. It hopes to build factories in Michigan.
Three other companies, based in South Korea and Russia, will receive a total of 420.9 million dollars for cathodes and batteries to be produced in US plants.
The Washington Times opines that "The president made no mention of the fact that only EnerDel has facilities up and running in the United States to produce the batteries, and that the other firms build their products overseas."
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