According to Slashdot, Google has set up a subsidiary called Google.org, a for-profit philanthropy with initial capital of a billion dollars.

Unlike most charities, Google.org will be a for-profit one, allowing it to fund start-up companies, form partnerships with venture capitalists and even lobby Congress. It will also pay taxes.

One of Google.org's first projects is the development of a plug-in hybrid vehicle that achieves a mileage rating equivalent to 100 MPG.

This news article was written on September 19, 2006, quoting Slashdot.