BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Don't worry, the U.S. will make a decent electric car -- by 2014]]>http://www.bloggingstocks.com/2008/06/13/dont-worry-the-u-s-will-make-a-decent-electric-car-by-2014/http://www.bloggingstocks.com/2008/06/13/dont-worry-the-u-s-will-make-a-decent-electric-car-by-2014/http://www.bloggingstocks.com/2008/06/13/dont-worry-the-u-s-will-make-a-decent-electric-car-by-2014/#commentsFiled under: , , , , ,

The Department of Energy announced it was throwing some money at the electric car dream yesterday. They'll spend "up to $30 million in funding over three years" on three projects they hope will produce a viable electric car by 2014. Wow, that's a whole $10 million a year!

The DOE is funding three projects they hope will produce an electric car that can go 40 miles on a charge, enough for 70% of daily commuters. They made the announcement at a conference on Plug-in Electric Vehicles 2008: What Role for Washington? Apparently the Energy Department decided the role was to make a token amount of funding and let other countries take the lead. The plan is to split the cost 50-50 with industry. General Motors (NYSE:GM) is going to work on a Lithium-Ion battery. Ford (NYSE:F) will work on a way to speed up mass production of electric cars. And General Electric (NYSE:GE) will try to figure out a two-battery, 40-mile system.

I'm sure everyone's working on all sorts of other projects, but this one just seems tiny, especially in context of the current oil crisis and the $40.1 billion requested Department of Transportation budget for FY2009. As cNet's Elsa Wenzel helpfully points out, Toyota (NYSE:TM), working with Matsushita Electric Industrial (NYSE:MC), thinks it can mass market an electric car by 2010.

Don't worry, the U.S. will make a decent electric car -- by 2014 originally appeared on BloggingStocks on Fri, 13 Jun 2008 16:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>electric carElectricCarFGEGNinthenewsmatsushitamatsushita batteryMatsushitaBatteryMCoil shockOilShockTMFri, 13 Jun 2008 16:20:00 EST