Hybrid & Electric Automakers Hopeful for Continued Obama Support

Hybrid and Electric Automakers Hopeful for Continued Obama SupportDevelopment of hybrid and fully electric car lines have increased substantially since Obama’s initial election in 2008. The automakers who engineer these vehicles in some cases rely on tax credits and payouts from the federal government for continued operation. In the vehicle transport services industry, we see more and more alternative energy models zipping across the country, but will it last?

Is It Working Out for the Obama Team?

It’s unclear whether Obama will continue to advocate aid for this industry because electrics and hybrids have not gained as much traction against the competition as was hoped by the Obama team and environmentalists worldwide.

Republicans in Congress will fight against any measures to extend stimulus efforts and tax code support of green energy technology. Lobbying on the opposite side is the Electric Drive Transportation Association, representing the relevant automakers.

Romney Expressed Negative Sentiments

Mitt Romney expressed negative sentiments toward continued support of alternative energy companies and more rigorous miles per gallon regulations for industrial transportation. The effects of this legislation would be felt throughout the entire economy. For instance, if you want to transport your vehicle from New York to Florida, or transport your vehicles from Florida to New York, the industrial trend is toward more environmentally friendly vehicles – not just for personal vehicles.

House Republicans have successfully removed teeth from green-energy vehicular R & D. The primary complaint is Solyndra. Solyndra received federal loans totaling almost half a billion dollars. Other companies perceived as too slow and ineffective include Fisker, which suddenly saw its federal funding source – its primary means of operation – dry up. Tesla, similarly, is being required to repay federal loans more quickly than anticipated.

Market Stays Vulnerable

The vulnerability of the market makes it confusing whether to invest – but the electric and hybrid carmakers, as well as those seeking to sell these cars at the highest price, continue to ship cars from one state to another nationwide, testing new markets for viability.

Essentially, each of these alternative energy automakers is struggling to get off the ground, and there is debate as to whether sustainability technology is a solid investment for economic recovery and/or worth it to build a cleaner future for the nation and world. Industry insiders agree that Obama’s reelection was pivotal to continued development of the field.

$7500 Tax Credit for Buying Electric Car

Electric cars, sometimes called battery cars because they operate purely off the rechargeable electric battery under the hood, currently receive a tax credit of $7,500 – but even that has not been enough to jumpstart meaningful sales expansion.

Obama has suggested additional ways to push consumers toward these types of vehicles – on a proposal level but not yet fully advanced for implementation (and it remains to be seen whether this policy will be advanced soon). The ideas he has suggested are to change the tax credit to $10,000 and to provide that savings as an immediate rebate as opposed to requiring buyers to wait until the next spring to see the IRS savings.

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