The right time for buying an Electric Car

Electric car

Electric car

Eight States pledge for Zero-Emission Vehicles. Governors of eight states announced a groundbreaking initiative to put 3.3 million zero-emission vehicles (ZEV) on the roads by 2025. These eight states representing nearly a quarter of U.S. auto sales signed a pact to boost the number of electric- and hydrogen-fueled cars, trucks and buses. These states have the main mission to help make the highways friendlier for zero-emission vehicles. And California is helping lead the charge.

New benefits could improve Electric Cars Sales

The memorandum of understanding (MOU) calls for developing joint policies to promote sales of electric cars, plug-in hybrids and hydrogen fuel-cell vehicles. To encourage them, the pledge calls on for development of more public charging stations, purchasing zero-emission vehicles for state government fleets. Together with providing tax breaks or other financial incentives to consumers and also reducing electric rates for home charging systems and many other incentives to increase electric cars sales, like lowering the cost of electric cars. By creating charging stations and other fuelling infrastructure the goal is to get 3.3 million of the vehicles on the roads by 2025 and hence curb greenhouse gas pollution.

In addition to California and New York, the pact includes Massachusetts, Maryland, Oregon, Connecticut, Rhode Island and Vermont. Each state already has policies in place to promote the use of zero-emission cars, viewing them as a crucial weapon against air pollution and global warming.
“Eight California emission states are standing up and putting forward an action plan that will make it easier to own and operate electric cars,” Stanley Young, a spokesman for the California Air Resources Board, said. “They’re making a decided effort to make it work, and paving the way for the successful introduction of zero emission vehicles.” The states partaking in the new pact want more. They’ve set a six-month time limit for drafting an implementation plan. However the agreement isn’t binding and any state can back out at any time, participating states claim they’re serious about building a strong EV market. Automakers say it’s a significant step toward getting consumers involvement in the technologies. So far, they’ve been slow to catch on because of worries about electric car range.

Reasons to plug in

California has around 34,000 electric vehicles and even more than 5,000 charging stations. New York is claimed to have nearly 4,000 cars, but only 649 charging stations. Oregon’s number of vehicles is 1,500 and 913 charging stations. The agreement was applauded by the American Lung Association and the Consumer Federation of America. Mark Cooper, the federation’s research director, said developing a broad market will surely ensure lower cost of electric cars. For example, a bare-bones Nissan Leaf price starts at $28,800, before state or federal incentives are considered. A new Chevrolet Volt costs nearly $34,185. “If you look at the diffusion of innovation, it always starts at the top,” Cooper said. “The key is to get it going and help it spread down so that everybody will have the benefit of this technology.” Lowering the cost of electric cars is definitely a measure to achieve that.

Carrie Ann
Carrie Ann is Editor-in-Chief at Industry Leaders Magazine, based in Las Vegas. Carrie covers technology, trends, marketing, brands, productivity, and leadership. When she isn’t writing she prefers reading. She loves reading books and articles on business, economics, corporate law, luxury products, artificial intelligence, and latest technology. She’s keen on political discussions and shares an undying passion for gadgets. Follow Carrie Ann on Twitter, Facebook

Recent Posts

BlackRock ETFs breach $3 trillion mark in May

BlackRock ETFs breach $3 trillion mark in May

BlackRocks’ exchange-traded fund crossed $3 trillion for the first time in May, in sync with the ETF industry’s race to an all-time high of $9 trillion.
1 hour ago
Flagship Pioneering, investor in Moderna raises $3.4 billion funds

Flagship Pioneering, investor in Moderna raises $3.4 billion funds

Flagship Pioneering, the bioplatform company, and the venture capital investor in Moderna, today announced that it had raised additional funding of $2.23 billion, which brings its
1 day ago
United to recall furloughed employees as travel recovers

United to recall furloughed employees as travel recovers

The fading of the pandemic and the rollout of vaccines has brought in some good cheer for the floundering air travel industry. More countries have opened up for business and are al
2 days ago
UK’s Sanne agrees to consider Cinven bid

UK’s Sanne agrees to consider Cinven bid

Sanne, a UK fund administration business that provides alternative asset and corporate services, has agreed to hold talks with private equity firm Cinven over a potential £1.4bn t
2 days ago
Global stocks rise as investors ignore inflations indicators

Global stocks rise as investors ignore inflations indicators

Global stocks rose to an all-time high, with investor showing confidence in a strong economic recovery from coronavirus and the vaccine effect, but the market is still a bit cautio
2 days ago
UK watchdog whacks Amazon with probe for unfair data collection practices

UK watchdog whacks Amazon with probe for unfair data collection practices

The Competition and Markets Authority will focus on whether Amazon, Inc. favors merchants that use its delivery services.
5 days ago