“Billionaires’ Club” enjoys cozy relationship with executive branch.Click here to read the brief
Obama touts Recovery Act at battery plant opening
President Barack Obama on Monday praised the grand opening of the nation's first large-scale advanced electric car battery plant, which he said was an example of the achievements of the 2009 economic stimulus law.
The 291,000-foot A123 Systems plant in Livonia, Mich., was backed by a $249 million stimulus grant.
During a telephone call from the Oval Office, Obama told a gathering at the plant that the $787 billion American Recovery and Reinvestment Act will help propel A123 and other U.S. manufacturers to a 40 percent share of the global advanced vehicle battery market. Another eight U.S. battery plants are to be built with stimulus money.
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