Prediction: Electric Cars Will Dominate Market

Posted: Oct. 10, 2008 11:10 a.m.

Reuters reports, "It will be years before demand for hybrid cars in the United States and Europe is big enough for battery manufacturers to make money from that business, but electric cars are nevertheless poised to dominate the market for greener vehicles, the world's largest car battery maker said on Tuesday."  Johnson Controls believes that "The premium consumers must pay for hybrid cars has prevented them from gaining a bigger share of the overall auto market," and the current financial turmoil is keeping new car buyers out of the market -- while battery technology continues to advance.

"Automakers from Detroit's General Motors Corp to Japan's Toyota Motor Corp are developing electric cars for the United States," which will probably become available around the time that the car market is expected to recover, Reuters says.   

Autoblog Green notes that there are "many differing types of green technology fighting for the chance to lure the green from your pocketbook," including electric, clean diesel and even hydrogen powered cars.  But "because there are only so many development dollars to spend, major automakers will need to pick a technology and stick with it." 

Electric cars like Nissan's planned electric Cube, and extended-range electrics like the Chevy Volt, may be the best bet.

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