350-Mile, $25,000 Electric Car Could Be Reality By 2017 Says Department of Energy

350-Mile, $25,000 Electric Car Could Be Reality By 2017 Says Department of Energy
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Energy Secretary Steven Chu and Los Angeles Mayor Antonio Villaraigosa are looking to jump-start the American electric car industry, to use the hackneyed pun. With Department of Energy research funding going towards battery development, Chu believes that their goal of a car that can make LA to Las Vegas on one charge, and sell for $25,000 without a government subsidy, will be attainable in 6 years.

Chu said that the DOE is currently funding research to lower the cost of electric-vehicle batteries by half within the next three or four years, and increase their energy density trifold within six years. Currently, America only builds 1% of advanced batteries in the world, but the American Recovery and Reinvestment Act will invest in more battery research and create more manufacturing plants, securing more jobs.

Eventually, Chu hopes that the $25,000 price will come without federal subsidies for owners. But right now, with the cost of highly-efficient batteries still sky-high, he is working to turn the current $7,500 tax credit into an instant rebate so EV owners won’t have to wait until April.

Los Angeles is in on the program too: the city currently has 90 electric charging stations, but Villaraigosa is planning 400 more in and around the city.

[Source: LA Times]