NEW YORK, NY -- (Marketwire) -- 09/09/11 -- The high price of oil and an increasing consumer focus on environmental impact has given a lot of momentum to electric cars. Companies are ramping up production in hopes the electric cars will ignite a secular change on the roads. The Bedford Report examines the outlook for companies in the Auto Manufacturing industry and provides equity research on Ford Motor Company (NYSE: F) and Tesla Motors, Inc. (NASDAQ: TSLA). Access to the full company reports can be found at:
While optimism is there, Electric Vehicles (EV) are currently struggling to compete with conventional automobiles due to the significantly higher price tag on an EV. A study published today by the Low Carbon Vehicle Partnership (LowCVP) finds that the total cost of electric and hydrogen cars may remain higher than petrol and diesel vehicles until 2025 or 2030, even if incentives continue and significant investment in supporting infrastructure is delivered.
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Tesla Motors states its goal is to accelerate the world's transition to electric mobility with a full range of increasingly affordable electric cars. Palo Alto, California-based Tesla designs and manufactures EVs and EV powertrain components. The company introduced its first vehicle, the Tesla Roadster, in 2008. The Model S, our four-door sedan, has a planned release in 2012.
Ford has been lobbying for electric vehicle tax breaks as well as making plans to triple its electric car output by 2013, and supports high fuel standards, provided they factor in the broader economic impact of higher vehicle costs.
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