Automakers suffered two blows last week. On June 14, the House voted to cut $126.5 million or half the budget for research into more efficient vehicles under the Partnership for a New Generation of Vehicles (PNGV) program which opponents decry as “corporate welfare.” PNGV is the partnership between the federal government and Big Three struck in 1993 to develop vehicles with low emissions and up to three times the fuel efficiency of conventional vehicles without compromising performance, ...
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