A coalition of utilities, battery manufacturers and automakers today unveiled a plan to put more than 120 million plug-in vehicles on U.S. roads by 2030 – an ambitious proposal that comes with a federal price tag of more than $120 billion over the next eight years. Top executives from more than a dozen companies – including NRG Energy Inc., PG&E Corp., battery maker A123Systems Inc., venture capitalist firm Kleiner Perkins Caufield & Byers, and Nissan Motor Co. – announced they were partnering to form the Electrification Coalition to advocate for increased federal investment to spur both supply of and demand for electric cars and trucks. In a 170-page “Electrification Roadmap,” the group outlined how the federal cash would be used to provide tax credits for the installation of advanced automotive batteries in stationary applications – seen as a way to drive scale and bring down cost – and for both public charging stations and home charging equipment. A portion of the cash would also be used to provide loan guarantees to help retool auto plants to produce plug-in vehicles, similar to an existing $25 billion Energy Department loan program that was created in 2007 energy law. The group said the investment would help the market hit the critical mass necessary for exponential growth, estimating that the cash would help put 700,000 plug-ins on the road by 2013, 14 million by 2020 and more than 120 million by 2030. By 2040, under the plan, 75 percent of …
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Coalition Outlines Plan for 120 Million Plug-in Vehicles on U.S. Roads by 2030
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