In the company’s news yesterday,
ECOtality, Inc. expressed optimism today about President-elect Obama’s comprehensive energy plan, a set of programs that would invest billions of dollars in support of hybrid and electric vehicle development. The press release applauded the move to confront the country’s dependence on foreign oil, building a clean energy future for America, and pointed to key elements of the plan:
• $150 billion invested over 10 years for the commercialization of plug-in hybrid vehicles, renewable energy, low-emission coal plants, fuel infrastructure upgrades, and a new digital electricity grid
• Commitment that half of all cars purchased by the federal government will be hybrids or EV by 2012
• $7,000 tax credit toward the purchase of, or conversion to, advanced technology vehicles
• Mandate that 10% of all electricity generated come from renewable resources by 2012
ECOtality president and CEO, Jonathan Read, commented on what all this could mean for his company. “With our industry leading experience in electric vehicles and electric transportation infrastructure, combined with our strong solar offerings, ECOtality is uniquely positioned to directly support President-elect Obama’s energy goals. As we have the most advanced fast-charging technology and having installed more on-road charging systems in North America than any company, ECOtality is situated to be the leading infrastructure provider for electric transportation.
He continued, “Leveraging our strong relationships with the Department of Energy, major utilities, and automotive manufacturers, ECOtality will aggressively support the Obama-Biden Energy Plan by laying the groundwork for the mass adoption of electric vehicles.”
ECOtality seeks to accelerate the replacement of carbon based fuels with advanced electric technologies, through acquisitions, strategic partnerships, and its own innovations. It is currently focused on designing and licensing a cost effective electric power cell, using hydrogen and oxygen to produce power without combustion, for use in automobiles and industrial equipment.
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