We're all waiting patiently for some real electric vehicles. I'm standing by my '98 Nissan Sentra until I can find something I can afford that doesn't require gasoline. But the credit crunch, it seems, may get in the way of my desires.
Zap Motorcars (which has never delivered on very many promises) recently had to stop building its manufacturing plant in Kentucky. They said the cause was GE Capital changing its mind about buying Zap's bonds. It turns out that GE Capital never promised to buy the bonds, just expressed some interest.
Tesla Motors, the creator of the $100,000 and two-years-late Tesla Roadster says that it wants a piece of the auto-industry bailout...$400,000,000 worth, actually. Frankly, that's ridiculous. Some people are pointing out that the money might go to their cheaper (currently indefinitely delayed) Model-S. But Randall Stross of the New York Times just ripped Tesla a new one in a column. His argument is that the tax payers probably shouldn't subsidize cute toys for the uber-wealthy. We tend to agree with him. Tesla, for its part, says it doesn't technically NEED the money...they just think they deserve it...since they're so cool and all.
Last on the list is probably the worst news of all. It looks like UK EV company NICE Cars is going out of business. The company makes small vehicles for local driving and it looks like the company couldn't last for a few reasons. First, London's backtrack on allowing free parking for EVs. But primarily, the economic situation throughout the world has plunged car purchases, and NICE, with relatively tiny sales numbers anyhow, couldn't handle the drop in income. We're not sure where the company, and its plans for several new and better vehicles will go from here.
So it isn't just the big three that are getting hammered...though I have to say, it will only be the big three who get bailed out. Electric cars, it seems, might be postponed for a little while.
written by Tim, December 05, 2008
written by DR. EDSON AN DRE' JOHNSON D.D.ULC, December 05, 2008
written by Alex Campbell, December 05, 2008
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