Link to article from thehill.com

The Energy Department is offering more than $55 million to companies, universities and laboratories to develop and deploy fuel efficiency vehicle technology.

The grants are meant to increase the efficiency of the country’s vehicle fleet, reducing petroleum use and help attain the Obama administration’s goal of making electric vehicles’ pricing on par with traditional vehicles by 2022.

Energy Secretary Ernest Moniz announced the funding Thursday at the Washington Auto Show.

“Energy Department investments in advanced vehicle technologies have had a major impact on the industry, driving down costs for consumers and reducing carbon emissions,” Moniz said in a statement.

“These projects will continue America’s leadership in building safe, reliable, and efficient vehicles to support a strong, 21st century transportation system.”

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