Joe Biden Jump-Starts Plan to Put 1 Million EVs on the Road

The US Vice President, Joe Biden, has begun the Obama administration’s efforts to get 1 million plug-in electric cars on the road by 2015. Under the new plans, the $7,500 federal tax deduction for green vehicles would be turned into a rebate that consumers could receive at dealerships when they buy electric vehicles.

According to a recent Detroit News article, the president is also suggesting he wants to boost the available funds almost 90 percent to nearly $590 million. This could include the $200 million needed to develop the necessary infrastructure for widespread use of EV in as many as 30 cities across the nation.

"We can out-work, we can out-hustle, we out-think anyone on the planet. It's just a fact. You can never go wrong betting on the American people. It's time to get back up and apply all of our innovation," Biden reportedly said while touring the facilities of a New York-based battery producer.

At present, car buyers interested in EVs must wait several moths to claim the credit as a deduction on the income taxes, and not all qualify in the end. Dealers have long been calling for the tax credit to be turned into a rebate that is available immediately upon purchase.

The new budget could also offer a 30 percent increase in support for research and development, as well as a new Energy Innovation Hub that is devoted to improving batteries and energy storage for vehicles.

"We have to create whole new industries for the 21st century. We decided: Why should (electric vehicles) be made anywhere else but in America?" The US Vice President also stated.