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Power firms could spark US electrical car industry
Electricity companies are considering coming to the rescue of stricken automobile producers by investing heavily in electrical vehicles, reports the Wall Street Journal.
A worldwide financial downturn has seen car markets decrease significantly but utilities in the US are wary that if the companies fail the development of electrical vehicles could be affected.
And, since the power companies would benefit from selling customers the electricity if the technology is widely deployed, they are said to be considering making substantial orders, initially for electrical vehicles for their own large fleets.
"Our industry is interested in reducing carbon-dioxide emissions, and it seems like a good idea for auto makers and us to pull together," Bill Johnson, chief executive of Progress Energy Inc, told the newspaper.
Any move to boost the amount of electric vehicles on the roar would also appeal to the idea of energy independence.
According to a study by the Pacific Northwest National Laboratory, making 73 per cent of the nation's light vehicles electric could cut the amount of oil the US had to import by 52 per cent.
The UK automotive sector has called on the government to act more quickly than the EU to facilitate cheaper money to the industry to safeguard jobs.
Find out how the Energy Saving Trust work as fleet consultants
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