The Department of Energy has announced a new multi-million (nearly $70M) dollar research and development grant program aimed at achieving the following three goals by 2028: 1)reducing battery pack cost to under $100 per kilowatt-hour, 2) increasing range to over 300 miles, and 3) charging in under 15 minutes or less. Numerous universities and industry research groups around the country have received funding and will be required to submit research results in the coming years.