Tuesday, February 5, 2013

How's that Electric Car "Investment" Working Out for Taxpayers?

From Reuters:
Are electric cars running out of juice again?

Recent moves by Japan’s two largest automakers suggest that the electric car, after more than 100 years of development and several brief revivals, still is not ready for prime time – and may never be.

In the meantime, the attention of automotive executives in Asia, Europe and North America is beginning to swing toward an unusual but promising new alternate power source: hydrogen.

The reality is that consumers continue to show little interest in electric vehicles, or EVs, which dominated U.S. streets in the first decade of the 20th century before being displaced by gasoline-powered cars.

Despite the promise of “green” transportation – and despite billions of dollars in investment, most recently by Nissan Motor Co – EVs continue to be plagued by many of the problems that eventually scuttled electrics in the 1910s and more recently in the 1990s. Those include high cost, short driving range and lack of charging stations.

The public’s lack of appetite for battery-powered cars persuaded the Obama administration last week to back away from its aggressive goal to put 1 million electric cars on U.S. roads by 2015.

The Administration has spent at least $5 billion on electric cars, with little to show for it. Unfortunately, the outcome was all too predictable. Politicians "investing" taxpayer money usually doesn't result in a happy ending.


  1. Electric cars are great to run and it is affordable as well. Lots of peoples are invest their money in electrical cars and it is pollution free as well.

    Lone Mountain Truck Leasing

    1. Good luck to you with your electric. Consumers aren't exactly having a love affair with them at the moment.