In response to John McCain's proposed $300 million prize for the development of better batteries for hybrids and electric cars, Democratic presidential hopeful Barack Obama has a proposal of his own. The Detroit Free Press reports that at a meeting with economic leaders in Pittsburgh, the senator from Illinois proposed $150 billion over the next ten years to fund research into alternative fuel sources and cleaner cars.
According to the Free Press, GM CEO Rick Wagoner, who was at the meeting, said the auto industry needs three types of help from the government in order to go green. "He said the U.S. government should provide more support for basic research into new technologies, along with tax credits or other incentives for consumers to buy them once available, and that manufacturers may need some assistance in converting factories." Obama's proposal attempts to meet these needs. Automotive News (subscription required) reports that his funding plan will "create 5 million new jobs and help 'the great assembly-line manufacturers' build vehicles that run on alternatives to fuel from imported petroleum."
GM isn't the only automaker cozying up to the presumptive democratic presidential nominee and asking for help. The Associated Press reports that Ford CEO Alan Mulally and other business leaders spoke with Obama earlier this week. "Mulally called the meeting 'very productive' and said the vitality of the nation's economy depends on the government partnering with industry."
Car manufacturing is big business in swing states like Ohio and Michigan, making meetings with company heads and proposals to assist the ailing industry vital strategies of both presumptive presidential nominees. Not sure if McCain or Obama has the better plan? See which way your car would vote, or check out the greenest cars on the market now with U.S. News' car rankings and reviews.
