US VP Biden Presents Plan to Achieve 1 Million Electric Cars by 2015
2008, the President set an ambitious goal of putting 1 million advanced technology vehicles on the road by 2015 – which would reduce dependence on foreign oil and lead to a reduction in oil consumption of about 750 million barrels through 2030. To reach that goal, President Obama will propose in his Budget a new effort to win the future by supporting advanced technology vehicle manufacturing and adoption in the U.S. through new consumer rebates, investments in R&D, and competitive programs to encourage communities that invest in advanced technology vehicle infrastructure.
• Making electric vehicles more affordable with a rebate up to $7,500: The President is proposing to transform the existing $7,500 tax credit for electric vehicles into a rebate that will be available to all consumers immediately at the point of sale.
• Advancing innovative technologies through new R&D investments: Building on Recovery Act investments, the President’s Budget proposes enhanced R&D investments in electric drive, batteries, and energy storage technologies.
• Rewarding communities that invest in electric vehicle infrastructure through competitive grants: To provide an incentive for communities to invest in EV infrastructure and remove regulatory barriers, the President is proposing a new initiative that will provide grants to up to 30 communities that are prioritizing advanced technology vehicle deployment. This approach builds on bipartisan ideas and proposals.
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