Obama: Automakers need research funds - Automotive News

Obama: Automakers need research funds

Harry Stoffer
Automotive News
June 26, 2008 - 2:04 pm ET

Presidential hopeful Barack Obama told General Motors CEO Rick Wagoner and other economic leaders today that he sees a \"surprising consensus\" on what needs to be done to fix the nation\'s economy.

Obama, an Illinois senator and the presumptive Democratic nominee for president, made the declaration at the close of an economic roundtable today at Carnegie Mellon University in Pittsburgh.

One point of agreement is the need for federal investment in new technology, Obama said.

Obama has proposed a $150 billion green energy fund that he says will create 5 million new jobs and help \"the great assembly-line manufacturers\" build vehicles that run on alternatives to fuel from imported petroleum.

Obama also quipped to Wagoner and others that, as president, he \"looks forward to working with you over the next eight years.\"

Wagoner sat to Obama\'s immediate left and offered some now-familiar ideas about what the federal government can do to help the automobile industry: spend money on research and provide incentives for consumers to buy advanced technology vehicles.

The session was Obama\'s second in two days that included face time with top auto industry leaders.

Ford Motor Co. CEO Alan Mulally was one of a group of business executives who met with Obama in Chicago on Wednesday, June 25.

Mulally, in a statement, called the meeting \"very productive\" and said he was \"pleased to share the perspective on the important role American manufacturers play.\"

The events are seen as part of efforts by Obama to firm up his economic credentials as his contest with Sen. John McCain of Arizona, the presumptive Republican nominee, begins to heat up.

High gasoline prices, worries about climate change and the financial struggles of U.S. industry will make automakers, suppliers, dealers and their employees important factors in the unfolding campaign.

McCain is scheduled to visit GM\'s Lordstown, Ohio, assembly plant on Friday, June 27. The plant, which makes the Chevrolet Cobalt and Pontiac G5 sedans, is increasing production to help GM sell more fuel-efficient vehicles.