PENDLETON, Ind. -- The United States Department of Energy (DOE) this week awarded $2.4 billion in grants to accelerate the manufacturing and deployment of the next generation of U.S. batteries and electric vehicles. Remy International was among the grant winners, and will receive $60.2 million to establish a standardized platform of hybrid electric motors and controls.

"This is outstanding news as it accelerates our growth strategy," said John Weber, president and CEO of Remy International. "This reconfirms Remy's technology in hybrid electric motors and will accelerate our leadership position in the market."

The DOE grant awarded to Remy and its co-applicant, Phoenix International (a John Deere company), will allow for critical capital and human resource investments to produce a full line of standard electric motors and power electronics. The investment will create or maintain nearly 1,000 highly skilled jobs in the United States for Remy, its partners and its supply base. According to Remy, it will also establish a strong domestic manufacturing base for electric drive motor technology and accelerate the use of electric drive vehicles with higher fuel efficiency.

Remy's hybrid electric motor platform can be used in passenger vehicles, trucks and heavy equipment vehicles.