New York, New York – The U.S. Department of Energy has announced new funding to accelerate the development and deployment of new efficient vehicle technologies. The department will start accepting applications up to US$184 million for such technology approaches as advanced materials, combustion research, hybrid electric systems, fleet efficiency and fuels technology.

The U.S. remains the largest vehicle market in the world, according to energy research firm SBI Energy, with 204 million personal vehicles. The company said that future growth of the electric vehicle market on a global scale will depends on government incentives to consumers, an increase in the price of gasoline, and a reduction of the price difference between hybrids and conventional vehicles.

The awards “will help ensure America leads the world in the development of advanced vehicle technologies that support cost-competitive, convenient and comfortable fuel-efficient vehicles,” said Secretary of Energy Steven Chu. “Investments in the next generation of vehicle technologies are laying the groundwork for a sustainable transportation sector in America that strengthens our economy and improves our economic competitiveness.”

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