2010 - An Electric Car Odyssey

The year 2010 is packed with promises in the field of alternative fuel, more specifically - plug-in cars.

The most exciting promises seem to come from alternative groups, with names such as "Think Global" and "Project Better Place".

Think Global, a Norwegian based company funded among others by Rockport Capital Partners, Kleiner, Perkins, Caufield & Biers (early investors in Google (GOOG), AOL (TWX) and Amazon.com (AMZN) to name a few) and General Electric (GE), is planning to introduce their cars in the US market by the end of 2009. Price tag: about $25,000 and range per charge 110 miles.

Project Better Place, an Israeli based partnership that includes the Government of Israel, Nissan and Renault, led by the visionary entrepreneur Shai Agassi (former President of Products and Technology at SAP AG (SAP)) presented its working prototype this Sunday in Israel, and is planning to have "large numbers of the fully electric prototype in the streets of Israel at the end of 2010". The price that Israelis will have to pay for the car his yet to be determined, but it looks like it will be in the range of their current sedans, between $25,000-$40,000.

The Project was also launched in Denmark this past March, in partnership Danish company DONG Energy, planning to have the cars available for the public in early 2011. A fully charged battery will have a range of 125 miles.

One can only expect that if between now and 2010 these two projects prove to be in the right direction, we will be seeing massive investments so that larger markets can be targeted.

2010 is also the year when when Toyota (TM) and GM (GM) with their planned plug-in hybrid cars, Prius and Volt respectively, are preparing to hit the US market. Ford (F) is working on their Escape plug-in hybrid but no date has been set for its planned launch. I am sure that competition will accelerate Ford's plans.

History shows that times of crisis lead to technology breakthroughs. The truth, however, is that this technology has been available for quite a while already. The current oil crisis is just making those technologies resurface as worthy of attention. If not by our government acting more firmly to alleviate the oil crisis, clearly by a consumer driven market.

Comments

[MichaelTravaline]

Just home the Think makes it to Canada...I would gladly replace my 1991 Oldsmobile with an less expensive to fuel & operate EV. Senior with a fixed income who cannot aford an new ICE. Mike Travaline, Toronto, Canada

[bluesmoke]

It's about freakin' time!!!

[richjoy]

Here we go again...will we have 200 auto makers?...and 190 failed businesses?

If those companies can make vehicles that get 100 or more miles per charge, so can GM, Ford, Toyota, Nissan, etc....and they have the warranties, dealer and parts networks in place.

I welcome the new technology--and certainly those established companies need the push that is coming from new entrants.

But I would not invest in these new auto companies -- not their stocks, and not $30,000 to buy their product if the established players are competitive.