Polypore Internation (NYSE:PPO)
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The Obama administration awarded $2.4 billion in grants to developers of next-generation car batteries and parts, a move that will give a lift to the Big Three automakers and position the companies in a position to lead the way in the development of a domestic electric-vehicle industry.

General Motors Corp. will receive more than $240 million, reflecting three separate grants, according to a list published by the U.S. Energy Department. Ford Motor Co. (F) will receive a total $92.7 million, including $62.7 million for an electric-drive parts facility in Michigan. Chrysler LLC will receive $70 million to develop and deploy advanced plug-in hybrid pickups and minivans.

The biggest single award will go to Johnson Controls Inc. (JCI), which will receive almost $300 million to produce battery parts for hybrid and electric vehicles, according to a list distributed by the White House. Johnson Controls is building a battery factory in Michigan with support from Ford. The next-biggest grant was awarded to A123 Systems Inc., which will receive $249.1 million. The company has a deal to supply Chrysler LLC with batteries for planned electric vehicles and hybrids.

EnerDel, the parent of Ener1 Inc. (HEV), will receive $118.5 million to produce lithium-ion cells and packs at a plant in Indianapolis.

-By Siobhan Hughes, Dow Jones Newswires; 202-862-6654; Siobhan.Hughes@dowjones.com