"Government can help facilitate innovation, but the natural business cycle remains - some failures in any emerging industry are inevitable," says Jay Friedland, Plug In America's legislative director. "Yet, our country is experiencing tremendous success as we electrify transportation. A raft of companies - Johnson Controls, Envia, Saft, GM, and LG Chem among them - are making great strides in driving down battery costs while creating a U.S.-based manufacturing sector for battery technology. This drives down the cost of plug-in vehicles while creating jobs and it helps keep at home the $1-billion per day we're sending overseas for oil, creating a better, safer America."
Jay Friedland will be available for media interviews after 12:30 p.m. Pacific. Please send interview requests to Zan Dubin Scott at email@example.com.
Other key considerations from the U.S. Dept. of Energy:
The advanced battery market is expanding dramatically in the United States and around the world -- from $5 billion in 2010 to nearly $50 billion in 2020, an average annual growth rate of roughly 25 percent.
A123’s promising technology has a long history of bipartisan support. In 2007, the company received a $6 million dollar grant as part of the Bush Administration's efforts to promote advanced battery manufacturing,
Prior to this investment, a battery with a 100 mile range cost $33,000. Because of technology improvements and the high volume manufacturing capability we have today, the estimated cost is down to about $17,000 and is expected to drop to $10,000 by 2015. As costs come down even further, the market for hybrids and electric vehicles – which has nearly doubled in the U.S. since last year – will grow even further.
About Plug In America: Plug In America is the preeminent advocacy organization advancing the plug-in vehicle market. The nonprofit organization works to accelerate the shift to plug-in vehicles powered by clean, affordable, domestic electricity to reduce our nation’s dependence on petroleum and improve the global environment. For more information: http://www.pluginamerica.org.