Google, who Monday announced plans for a new electric car, has also announced that they will promise $10 million to help jump start the electric car market.
The development of an electric car can be terribly expensive, considering the price of the advanced electronics and parts involved with a plug-in hybrid. It is estimated that the big car companies can be spending tens of millions of dollars for their plug-in cars. General Motors is the only big car maker that has announced plans for a plug-in. The GM car will arrive around 2010.
“Google is not going to get into the business of building and selling hybrid electrics. Our focus is on accelerating their developing through research, testing and investment,” says Google.org’s Dan Reicher.
The federal government has pledged $28 million in plug-in development in FY 2008.
Experts say that the technology is here for the plug-in electric car, it’s just up to auto makers to step up development. Google’s new commitment along with the fed’s funding may be the jump-start needed to get the electric car running.
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