White House unveils $2.4 bn in grants

The US government will buy thousands of electric and hybrid vehicles. Government grants also would subsidize installation of electric-vehicle charging stations.  The move reflects the belief that current lower oil prices won’t last: In its models for the future, as part of the GM and Chrysler bankruptcies, the president’s auto task force assumed that gas prices would rise above $4 a gallon by 2015.

Tags: Business, Chrysler, Electric vehicle, Ford Motor Co, Ford Motor Company, General Motors, Hybrid vehicle, United States