Google's philanthropic arm, Google.org, has issued a call for investment proposals. Specifically, they are looking for entrepreneurs to propose ways to develop plug-in hybrid vehicles. Google.org is prepared to invest $10M in such proposals. They indicated that they were treating this like an RFP process, rather than a typical investment process, because they wanted to encourage "new ideas and new entrants".
This continues the trend of major Internet companies getting directly involved in environmental issues. For example, earlier this year, Yahoo! committed to becoming carbon neutral. It's all good stuff guys. Keep it up!