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Volkswagen will also invest $2 billion to build charging stations and other projects to promote the use of electric vehicles.
Nissan, which has been aggressively pursuing partnerships to build charging networks for its electric vehicles, was the only foreign automaker to get financing in the first round.
It needs other companies to help build charging stations, to improve batteries, and to change the perception that only rich guys in open-collared dress shirts drive these things.
HSBC is one backer of electric cars, investing $125 million in January in Better Place, a California company that wants to build charging networks and lease batteries to customers.
A recent report by the Boston Consulting Group argued that for 17 million electric and low-carbon-dioxide-emitting cars to be on the road in Europe by 2020, it would require $49 billion to develop the cars and batteries and $21 billion to build charging networks.
In an attempt to further reduce oil imports–and greenhouse-gas emissions the Obama administration pledged $2.4 billion of stimulus funds last March to manufacturers of components for plug-in hybrids and those seeking to build charging stations and other infrastructure for electric vehicles.
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Its nonconformist tendencies are showing again as it builds charging solutions for the Model S, the sedan expected to go on sale in mid-2012.
Two years ago Dong Energy took a stake in the Danish subsidiary of Better Place, a U.S. company that leases batteries and builds charging facilities for electric vehicles, including home charging equipment and battery swap stations.
While commercial availability of EV charging stations is part of the evolution of our business, we'll never build charge points.
But as the case builds — charges against the young man accused of driving the Ford pickup that hit Mr. Anderson were raised to capital murder on Friday, and the F.B.I. is now involved — significant questions remain.
Dabhol and its main shareholder, Enron Corp ,based in Texas, were accused of bribing Indian officials in order to get the project approved, and of tolerating police brutality to get it built, charges Enron says were dismissed by the courts.
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