Research Report Examines the Electric Vehicle Industry and its Major Players
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- SEE ALSO: EV-Motoring.Com
According to the Electric Drive Transportation Association, the number of battery powered vehicles in the US grew to 76,000 in 2006 from 56,000 in 2004. From 1992 to 2006, the average growth for electric cars was around 28.5%. Automobile manufacturers are motivated to pursue battery powered technology due to the demand to reduce dependency on petroleum, reduce greenhouse gas emissions, and provide a more cost-effective means of transportation.
As part of the Emergency Economic Stabilization Act of 2008, the US government provides a tax credit for buyers of plug-in electric vehicles. Any buyer of an electric car would receive a base of $2,500 plus an additional $417 per kWh for batteries greater than 4 kWh up to a cap of $7,500. Electric Vehicle manufacturers of the GM Volt or Phoenix Motorcars SUT and SUV would qualify for $7,500 tax credit.
At $3.78/gallon, a car powered by an internal combustion engine with 23 mpg efficiency would cost about $9.80 per 60 miles. On the other hand, a battery version of that same car would cost $1.75 per 60 miles. Maintenance costs are also lower for an electric car as you do not have to add or replace engine oil, transmission fluid, air filters, etc. Regenerative braking also allows an electric vehicle to recharge while decelerating or braking so brake linings and related parts wear out much more slowly and require far fewer replacements.
To review the full report, please go to: http://www.floyd-associates.com/EV.pdf.
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Floyd Associates is a privately held consulting firm with expertise in strategic development, investment banking, and mergers and acquisitions. Our expert team advises companies of various sizes on international expansion strategies, optimal capital structures, and formation of strategic alliances. Floyd Associates Dubai is responsible for offering strategic development advice to companies interested in exploring opportunities in the rapidly growing markets of the Middle East. In addition to helping companies gain access to markets and sources of capital in the Middle East, the Company advises clients on how to obtain a listing on NASDAQ Dubai as well as matters related to compliance with the Shariah Law.
