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Article: United States : GE sees $1 bln potential in advanced batteries.
- Article from:
- TendersInfo
- Article date:
- May 13, 2009
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Byline: shiv03
General Electric Co (GE.N: Quote, Profile, Research) plans to invest $100 million in a factory to build high-tech batteries for heavy equipment, which it believes could be a $1 billion business over the next decade.
The largest U.S. conglomerate plans to seek federal stimulus money to fund construction of the factory, near Albany, New York. Initially the factory will make batteries for GEs forthcoming hybrid railroad locomotive.
"This type of public-private partnership is essential to rebuild Americas manufacturing base, create new jobs and to accelerate the pace at which new technology comes to market," said Jeff Immelt, chief ...