North Carolina Wants Plug-in Hybrid Hub

North Carolina State University is excited about plug-in cars. They’re so psyched about them that they’re looking to launch a multi-million dollar research hub to develop new technologies — mainly advanced battery technology — that would eventually help lower the cost of plug-in cars for consumers.

They want to dub these advanced batteries Wolfpack Power Packs and hope to bring costs down from $10,000 to $3,000 for the most advanced batteries of plug-in electric and plug-in hybrid vehicles. Two regional power companies are pledging support for the project and General Motors is also interested.

N.C. State already researches hybrid vehicles, but this new initiative will start with $5 million in federal grants and get another $1 million annually. The university says it hopes to develop the new batteries in two to five years. The North Carolina governor hope that moves like this will spark a “new energy economy” in his state.

N.C. Seeks Research Hub for Plug-in Cars (CNNMoney)