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President Obama Announces $1 Billion Fund to Promote Energy Efficient Vehicles

President Obama visits the Tar Heel state to talk about ways his administration is taking an all-of-the-above approach to American energy
President Barack Obama tours a Daimler Trucks North America plant (March 7, 2012)

President Barack Obama tours Daimler Trucks North America Mt. Holly Truck Manufacturing Plant in Mount Holly, North Carolina, March 7, 2012. On this part of the tour the President saw the Chassis Airing Station where multi-colored nylon air lines are installed for the brake system. (Official White House Photo by Pete Souza)

Today, President Obama made a trip to a manufacturing plant for Daimler Trucks North America in Mount Holly, North Carolina. He was in the Tar Heel state to discuss more ways his administration is taking an all-of-the-above approach to American energy. 

He talked about how his administration is pursuing new domestic energy sources, expanding oil and gas production, and reducing our overall reliance on oil through development of renewable energy. 

But at a place where workers are busy assembling trucks that run on natural gas, the President also announced a new $1 billion National Community Deployment Challenge to help boost the deployment of clean, advanced vehicles all over America:

To cities and towns all across the country, what we’re going to say is, if you make a commitment to buy more advanced vehicles for your community -- whether they run on electricity or biofuels or natural gas -- we’ll help you cut through the red tape and build fueling stations nearby. And we’ll offer tax breaks to families that buy these cars, companies that buy alternative fuel trucks like the ones that are made right here at Mount Holly. So we’re going to give communities across the country more of an incentive to make the shift to more energy-efficient cars.

Have questions about President Obama's Blueprint for American-Made Energy? Learn more here.