Electric Cars Poised to Jolt Auto Industry

Washington DC July 17, 2009; The AIADA newsletter reported that in the next year or so, the electric car may break free of the lunatic fringe and become a mainstream transportation option for everyday drivers.

MSNBC reports that the next step forward for electric cars will come on August 2, when Nissan is expected to unveil the first of three electric models in three vehicle segments that the automaker will reportedly sell en masse by 2013 in the United States, Japan, and Europe.

Ford, Nissan, and Tesla have received U.S. government loans that the companies say will help them tool up to manufacture their planned electric models, with the first cars arriving in 2010 from Ford and Nissan.

The market for electric cars is projected to reach between 270,000 and 335,000 units per year over the next five years in the U.S., according to one expert. These cars aren't likely to be cheap, but Nissan at least is promising to be price-competitive in the premium compact car segment.

Although it is unclear whether that competitive price will be the one before or after the $7,500 federal tax credit, it seems likely that the tax break will be needed to help make these cars reasonably competitive with gas-powered alternatives.

Click here to read more about what's in store for electric cars.

Click here for an interactive slideshow on the evolution of the electric car at MSNBC.com.