Open Access Article Originally Published: December 01, 2008
The following proposal will be distributed at the Electric Drive Transportation Conference in Washington, D.C. during the week of December 1, 2008. EV World is reproducing it here to elicit discussion on the idea.
INTRO: "How Prepaying for Plug-In Cars Can Save and Transform the Auto Industry" is CalCars' proposal for federal actions in December-January to aid the auto industry. We hope that the concept and perhaps the specifics of this proposal can be incorporated into Congress's response to the "sustainable plans" the carmakers will be bringing to Washington DC.
HOW PREPAYING FOR PLUG-IN CARS CAN SAVE AND TRANSFORM THE AUTO INDUSTRY
Congress and the President-Elect have asked Detroit's automakers to come back with a plan. What if that plan, and automakers' credibility, could be based in large part on delivering the fuel-efficient low-emissions plug-in cars people want, using today's technology and today's infrastructure?
We propose a way to give carmakers the cash they need to keep going -- while making sure they devote maximum effort to rapidly transform their companies and their product lines. We build on the breakthrough $7,500+ plug-in tax credits enacted in October -- when the federal government quantified the public benefits of displacing petroleum with cleaner, cheaper, domestic electricity.
Our "end of business as usual" proposal is a multiple win: for car buyers, communities whose plants will stay open, automakers, energy security, and efforts to slow global warming. Here's our plan, followed by some additional explanations:
A FEDERAL "PREPAID PLUG-INS PLAN" FOR A 21ST CENTURY CAR INDUSTRY would give carmakers real targets and quick funds. Here's how it can work:
CARMAKERS PRE-SELL PLUG-INS. They're encouraged to accept $10,000/vehicle deposits on highway-capable PHEVs and EVs with at least 4kWh battery capacity (the minimum for existing tax credits), to be delivered ASAP and NO LATER THAN YEAR-END 2012. The sooner they issue PRELIMINARY specifications and maximum prices, the sooner they become eligible to collect prepayments. Any carmaker that wants to receive loan guarantees beginning in January 2009 must commit by year-end 2008 to have at least one eligible plug-in vehicle for sale by the end of 2010 in volumes greater than 10,000.
INDIVIDUAL CAR BUYERS get a 100% refundable federal tax credit on their $10K prepayments.
FLEET BUYERS get 100% refundable federal tax credits. (Public fleets receive 100% grants.)
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Reader Comments
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3 comments so far...
08-Dec-2008
65082
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This is an awesome plan and I support it wholeheartedly. I would put $10k down today!!!!!!
Thanks
Tim
Posted by: Tim Gordon
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18-Dec-2008
65202
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I think this is a great idea. If the auto companies and congress would do it, the companies could get the capital they need to survive and congress could hit the starter button on fulfilling more than simply the fuel and transportation needs for Americans and for everyone around the globe. $10,000 off the price of a car everyone needs should be an eye catcher for anyone who sees it!
Thanks for the opportunity to give you my comments.
Posted by: Lloyd Priddy
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21-Dec-2008
65234
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Where do I send my money?
Love to be on the buyers list for an EV or a plug-in hybrid.
I have been waiting for the Ford Escape PHEV to come to market!
If Lion EV can convert the existing Escape Hybrid to be a PHEV now, why does it take 4 or so years for the Ford guys to get this car to
market?
We need this car now!
I own an Escape Hybrid, I would love for it to be a PHEV. But, only one company will do the upgrade and the conversion cost is like $20K!
Rather just get a factory made PHEV...
If you think about it, this car is way better than a Tesla. A Tesla will run out of energy after 60 miles, not good for trips.
The Ford Excape PHEV offers the best af all worlds, EV for 'in town' driving and Hybrid use on trips or for extended range. Twice the
technology at less than half the cost over the Tesla.
Now, just get the cost of the Lithium battery down and sell the heck out of these cars. Get them to market ASAP maybe BEFORE the Chevrolet Volt comes out.
If you sold these cars now for $35K or so, you will not need a bail out loan from the taxpayers!
Mark
Posted by: Mark Yancey
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