GE Gets Hybrid Technology Contracts

GE Gets Hybrid Technology Contracts
General Electric Gets $6.8 Million for Hybrid Vehicle Technology Development Projects

NEW YORK (Associated Press) - GE Global Research, the centralized research organization of the General Electric Co., said Tuesday it was awarded $6.8 million in funding for two projects designed to help bring plug-in hybrid vehicles to market.
The projects include a $5.6 million contract to develop smaller, lower cost, higher performance hybrid drivetrain motors. The second is a $1.2 million project to develop advanced high temperature, high energy density capacitors, GE said.
Both projects are co-funded by the U.S. Department of Energy's office of vehicle technologies and managed by the National Energy Technology Laboratory, GE said.
GE shares rose 32 cents to $40.49 in midday trading.