Google is “Exploring” the Hybrid Vehicle Market ?!?

While Yahoo is working on expanding its market share, CNNMONEY reports this morning that Google had offered $10 million in funding for the development of a 100MPG vehicle.

Google said Tuesday it is getting in on the development of electric vehicles, awarding $1 million in grants and inviting applicants to bid for another $10 million in funding to develop plug-in hybrid electric vehicles capable of getting 70 to 100 miles per gallon.

I keep on asking myself WTF? I mean has the money gotten to their heads? Do they have nothing else to worry about? But then again, I must add that it is Google’s philanthropic arm, Google.org, who is working on the project… Go figure.