Gallery: President Obama to Announce $1 Billion Initiative for Clean, A...


President Obama is set to announce today a $1 billion initiative that will assist communities around the country in developing the backbone infrastructure needed for the deployment of clean, advanced fuel technology vehicles. The President will announce the National Community Deployment Challenge initiative along with a proposal to expand the $7,500 tax credit for advanced, fuel-efficient vehicles to new technologies and raise the ceiling on the credit to $10,000. He’ll also unveil a new research challenge to make electric vehicles affordable to own and more convenient for the public to adopt. His remarks will be made at Daimler Trucks North America‘s manufacturing plant in Mt. Holly, North Carolina, where the most advanced alternative fuel and hybrid electric technologies in the trucking industry are being used to reduce environmental impact.

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