Thursday, July 01, 2010

Lithium and REE: Congress Should Consider Electric Vehicle Legislation to Spur Market: FedEx CEO TNR.v, CZX.v, RM.v, LIT.v, WLC.v, LMR.v, RTP, TSLA, F

FedEx is part of Electrification coalition and its CEO Frederick W. Smith is an outspoken advocate for Green Mobility revolution, who knows better with his transportation exposure and cost factor with volatile Oil prices? There is technology to address all issues related to addiction to Oil and it is ready to be deployed - we just need a political will now.

"This legislation is the key to fast advance of the Electrification of U.S. transportation system. It can change the landscape literally overnight and will find a lot of support from businesses and population on the local level. Will Obama be able to move it forward?"

EV World:

U.S. Mayors Lend Support to Vehicle Electrification Bills


By Rajani Baburajan

TMCnet Contributor

Electric vehicles are the cleanest alternative to fossil fuel-driven vehicles. Even after several years of their development, electric vehicles have not really hit the road. Blame it on their mileage, speed and cost concerns.

The mileage problems in electric vehicles could be dealt with by installing gasoline extenders. However, leading car manufacturers like General Motors (News - Alert), BMW and Nissan differ in their approach regarding this issue, says a TMCnet report.

Offering a ray of hope to electric vehicle manufacturers, FedEx CEO Frederick W. Smith strongly endorsed plug-in electric vehicles and a Senate bill promoting their development.

Smith argued before the Senate Energy and natural Resources Committee that the approach is also popular with the public.

"The receptivity of the public for electric plug-ins and hybrids is enormous," Smith said answering a question about investing in technologies that change human behavior from Sen. Bob Corker, R-Tenn. "Now, it's possibly because of every day you turn on the TV and see what's unfolding in the gulf or Afghanistan or what have you."

According to Smith, getting lithium battery technology scaled up so that electric vehicles are less expensive and no longer considered a 'niche' market should be a high national priority. He said the Promoting Electric Vehicles Act bill, would reduce the cost of lithium batteries and cause a 'very large adoption rate' for electric cars.

Smith views the country's dependence on foreign oil is 'an enormous national security problem' and said that electrifying the light-duty fleet of automobiles and trucks could help in solving this.

Vehicle electrification surely needs interference by government because it's 'the kind of game-changing thing that needs direction and policy choices that only the government can make."

'The government many times in the past has funded a technology that had great potential societal benefits but where the private sector simply could not put the funds in because the return on investment was too uncertain or the horizon was too far out or the funds required were too great,' Smith said citing examples of the origin of Internet for public use and the introduction of Boeing (News - Alert) 777 where government funds helped mass adoption of the technologies.

The bill envisions selecting as many as 15 'deployment communities' for demonstrating the technology, including both residential and workplace recharging stations. It also calls for a study for converting the federal fleet, including mail delivery, to plug-in vehicles.

Smith noted that FedEx already uses hybrid delivery trucks in California and has 15 all-electric vehicles in Europe.

Smith, who is also a co-chairman of the Energy Security Leadership Council, said the Council's focus on the country's dependence on foreign oil is the kind of focus Congress should have in passing electric vehicle legislation.

In his written testimony, Smith said that the goal of the bill is to create incentives to spur demand beyond what the auto industry's production capacity has projected for 2015."
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