Obama Victory Means Sustained Support for EVs and CAFE Standards
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All the automakers were banking on Obama’s reelection as it maintains the promise of a $85-billion bailout fund for General Motors and Chrysler. The US president has not announced yet what will happen to the $500-million in GM stocks that the government currently owns. Also, regarding EVs, Roland Hwang, Director of the Transportation Program at the NRDC (Natural Resources Defense Council), has announced that he expects them to “pick up again in a second term and put everything back on track.”
Also, with the reelection, the CAFE standards will stay, but since the automakers have already gotten used to the idea of complying, the dropping of the standards would have caused more problems than it would have solved. So, things are still on track to achieve Obama’s goal of having 1-million electric cars on the road, by 2015. Also, the proposed plan to increase the federal tax credit for EVs, from $7,500 to $10,000 will most likely also go forth. Nothing is truly certain yet, and a reevaluation is in order, to get things moving in the right direction.
Story via autonews.com
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