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Suppliers say U.S. risks losing electric car race
|Mounting losses for the U.S. auto industry threaten investment in cutting-edge battery development, raising the risk U.S. companies will be shut out in the race to produce the most valuable components in electric cars, industry executives say.|
Executives at U.S. auto parts companies gathered for a forum in Traverse City, Michigan, said the U.S. government needs to provide incentives to support the industry until costs for electric vehicles, including plug-in hybrids, fall far enough to make investments profitable.
That process could take up to a decade, executives said, warning that key battery technology for the emerging electric car market will otherwise be dominated by companies from Japan, Korea and China.
"For electric vehicles, nearly all major components come from Asia. We don't want to create another cartel for renewable energy, sustainable mobility," said MaryAnn Wright, who runs the hybrid business of Johnson Controls Inc.
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posted by CITIZEN POWER ALLIANCE at 6:47 PM - permanent link
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