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Plug In Drivers Not Missin' the Piston

This is the Kodak Moment for the Auto Industry. Electric vehicles are here to stay. Their market acceptance and growth will continue....

Tuesday, February 5, 2013

Chasing the Unicorn

Demand For 100% Electric-Powered Cars Is So Low, Toyota Has Basically Given Up On Them: "Just as new electric plug-in vehicles are hitting the U.S. market, Japanese auto giant Toyota Motor Corporation (TYO:7203) has given the strongest signal yet that technology available today has greater potential to become the future of driving than battery-operated cars have ever been: hydrogen power.

Meanwhile, consumers themselves have not exactly warmed up to vehicles that run purely on electricity, thanks largely to the lack of driving distances necessary to fuel enough of a demand to scale up production that would lower costs.

Demand for these vehicles has been as slow as a golf cart on a nearly depleted battery, so slow in fact that Energy Secretary Steven Chu indicated last week that the White House’s goal of 1 million electric vehicles on American roads by 2015 was “ambitious,” an indication that reality has set in on previously optimistic forecasts."