The Market for Electric Cars in the US

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“I know how much the auto industry and the autoworkers of this state have struggled over the last decade or so... But I also know where I want the fuel-efficient cars of tomorrow to be built -- not in Japan, not in China, but right here in the United States of America. Right here in the state of Michigan.”⁶

- Barack Obama, President, US, in 2009.

“If you look at the number of kilometers people drive per day to commute, more than 90 percent of the people do less than 100 kilometers (62 miles) a day... There is a huge, huge potential there for Electric Vehicles (EVs).”⁷

Carlos Tavares, Executive Vice President, Global Product Planning, Nissan Motor Company Ltd⁸, in October 2008.

“For battery-powered vehicles to become more widespread... we feel battery technology needs to advance further.” ⁹

- Masaaki Kato, President, Honda Motor Company Ltd¹⁰, Research & Development, in September 2008.

Introduction The overdependence on limited reserves of fossil fuels had forced many nations to look for alternatives that would make road transportation fuel-efficient. Moreover, according to International Energy Outlook 2009, released by the Energy Information Administration (EIA)11 of the US Government, worldwide Carbon dioxide (CO2)12 emissions from energy consumption using various sources such as coal, oil, and natural gases was expected to exceed 40 billion metric tons by 2030.13...

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6] Brent Snavely, “Challenges to Grow with Electric Cars’ Sales: Aging Grid Needs to Handle More Power,” www.istockanalyst.com, April 12, 2009.
7] Rick Kranz and David Sedgwick “Nissan: Electric Car to Get Here in 2010,” www.autoweek.com, October 3, 2008.
8] Founded in 1932, it is one of the leading global automakers from Japan. As of March 2009, it earned annual revenues of 8.437 trillion yen. Source: www.nissan-global.com (Accessed on July 24, 2009).
9] “Honda Aims to Avoid Plug-in-Hybrids,” www.mixedpower.com, September 17, 2008.
10] Headquartered at Tokyo, Honda Motor Company is one of the leading automobiles and motorcycles manufacturing companies in the world. It earned annual revenues of over US$ 119 billion for the year 2008, employing more than 167,000 people across its worldwide operations. Source: www.honda.com (Accessed on July 31, 2009).
11] EIA, an agency of the US Department of Energy, works toward providing vital statistics related to energy. Its reports are directed at encouraging governments to make effective polices and to generate public awareness on the effect of energy use on the economy and environment. Source: www.eia.doe.gov
12] It is one of the greenhouse gases that cause pollution of the earth’s atmosphere leading to a change in average temperature, a phenomenon known as climate change.
13] International Energy Outlook 2009, www.eia.doe.gov.