US Energy Department will provide $50m for the development of advanced plug-in electric vehicle (PEV) technologies.

The funds will be employed under the EV Everywhere Grand Challenge – an initiative to make PEVs as affordable to own and operate as gasoline-powered vehicles in the next 10 years.

As part of the initiative, the department will select new research projects focusing in five key areas of research and development such as advanced light weighting and propulsion materials and advanced battery development.

Power electronics, Advanced heating, ventilation, and air conditioning systems and Fuels and lubricants are also part of the initiative.

The Department of the Army is providing a co-funding the project with $3.5m, as part of its Advanced Vehicle Power Technology Alliance with the energy department.