China tells the New York Times that it's going to produce a half million electric and hybrid autos by the end of 2011. If you choose to believe that, then it sounds like bad news for the U.S. However, picking at the meat of the news, it really doesn't look all that bad.
China is offering a $8,800 subsidy for purchasing electric or hybrids. The U.S. offers a $7,500 subsidy for electric cars. There are also subsidies for hybrids available.
Chinese research on electric batteries is increasing. It is in the United States as well. We've got MIT scientists working on the problem around the clock. We've had auto companies investing in it for years now.
See full Article.
Posts
