You are here
Home > Cars

Environmentally Friendly Cars – Barack Obama And His $2.4 Billion Electric Car Stimulus Plan

Article: Environmentally Friendly Cars – Barack Obama And His $2.4 Billion Electric Car Stimulus Plan

Barack Obama has an Electric Car Dream, to fill our roads with 1 million electric cars by 2015, a mere 5 years later with a $2.4 Billion Stimulus Plan. Many are skeptical.

Key Success Factors of The American Electric Car Dream

One of the key success factor of American Electric Car Dream is to ensure that Electric Car Research and development technology is up to par with its competition. This is a fact that even Obama acknowledged that America need to step up on, and at a very steep learning curve at that too. The heat is on as the paradox of reality became apparent when he commented that “Germany is leading the world in solar power…Spain generates almost 30% of its power by harnessing the wind, while we manage less than one percent and Japan is producing the batteries that currently power American hybrid cars.”

The Vertical Integration All Encompassing Supply Chain Approach

From a vertical integration perspective, American electric car technology needs to be enhanced at breakneck speed, in order that production meets target numbers and target time. The American Department of Energy is offering up to $1.5 billion in grants to U.S. based manufacturers to produce highly efficient batteries and their components. Batteries technology is the heart of success for the electric car and there are vested interests in ensuring sufficient batteries that meet consumer standards and expectations.

Up to $500 million in grants will be given to U.S. based manufacturers to produce other components needed for electric vehicles, such as electric motors and batteries. This amount includes the adjustments and retooling for an entirely different core technology required in production process to produce an electric car.

With up to $400 million devoted to creating new infrastructures required for the electric car or hybrid plug-ins such as electric charging stations and specialized car shops, this would fully address the concern of recharging needs on the road.

And Finally, to stimulate demand for electric cars, the stimulus act gives consumers a federal tax credit worth up $7,500 for the purchase of plug-in electric vehicles.

Pick Your Favorite Electric Car, In Time

The green consumers of tomorrow will be spoilt for choice, as country after country jump on the green bandwagon, in attempt to rescue and boost their faltering economy with their very own versions of the electric cars.

A new chapter in the auto industry has opened, and we will be the ultimate beneficiaries of a better, greener and cleaner tomorrow, with generations to come.

Source: cngcar.org

Website collected information from carcrash.org

Leave a Reply

Top