May 31, 2012
Government investment in electric cars not exactly proceeding at full speed
This is a Marketplace.org Reader
Supposedly the American market for electric cars will pick up any day now. Any… day… now. The Obama administration has given $1 billion since 2009 to American companies to produce better batteries for electric vehicles. It’s part of a six-year goal to make 1 million electric and plug-in cars. Half-way through, plants have made 50,000 cars and have created less than one third of the jobs promised by 2015. Thing is, these ambitious production goals are a problem when, um, no one is buying your product.
From the Wall Street Journal:
