Wall Street Journal's Electric Car Claim is Inaccurate

The editorial Electric Car Crash (October 17) fails to acknowledge that the status quo – dependence on imported petroleum – is a threat to our national security and addressing it is squarely within the federal government’s responsibility. 

Reinforcing the substantial private investment in advanced battery and electric vehicle technologies is a critical component of a comprehensive strategy to establish independence from the dictates of a global oil market.

Declaring that the electric drive industry and the two-year old market for plug-in cars have “crashed” is not correct. Consolidation is inevitable in emerging markets and this industry is no exception. The overall electric drive supply chain and vehicle market are growing steadily. Sales of plug-in vehicles have increased 180 percent over last year. There are 14 plug-in cars available in the U.S. today and consumer offerings will significantly expand to nearly 40 models in just over the next two years. Tens of thousands of American workers are now manufacturing vehicles and components at roughly 300 facilities in the U.S.

Fostering innovative technologies that benefit the nation in economic and energy security while giving citizens an alternative to paying at the pump is precisely how government should work with the private sector. The electric car that the author wants to cheer for is already here – ask one of the more than 50,000 people already driving one.

Wall Street Journal’s Electric Car Claim is Inaccurate originally appeared in Green Chip Stocks. Green Chip Review is a free 2x-per-week newsletter, is the first advisory to focus exclusively on investments in alternative and renewable energies.