McCain: $300 Million for a Better EV Battery

June 23, 2008
Presidential candidate Sen. John McCain (R.-Ariz.) has a new gamble for the auto industry: a $300 million prize for the inventor of a new battery.

McCain's on the stump today in California, and the Associated Press reports he'll deliver a speech in which he lays out the ground rules for the prize. First, presumably, you have to elect him the 44th president of the United States. Next, you have to invent a battery that will make electric vehicles and plug-in hybrids more practical. Then, you get your money.

McCain's also said to make comments in the speech about fines for doing an end-run around CAFE legislation, and will promise incentives to use U.S.-produced as well as foreign-made ethanol.

I'll update you later today on his speech, but in the meantime, check out my six ways to cut gas prices forever.

UPDATE: Looks like the Detroit News got a peekers at the speech, too. Here's their take.

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