Governments Pouring Money Into Electric Car Programs

China, the U.S. and France are among the governments that have so far pledged to spend up to $15 billion over next five years.

Published: 22-Oct-2009

Governments are pumping more money into electric car projects, hoping the new vehicles can be part of the solution to major problems from global warming to dependence on oil.

China, the U.S. and France are among the governments that have so far pledged to spend up to $15 billion in the next five years in tax incentives, levies, subsidies and consumer bonuses to help car companies develop electric cars, according to the Boston Consulting Group.

The aid is crucial to car makers' chances of success in turning electric cars into mass-market products. At the Tokyo Motor Show, which opens to the media on Wednesday, Nissan Motor Co. plans to unveil a new electric car resembling a scooter. It is also aiming for 20,000 orders of another electric car, the Leaf, in the U.S. next year.

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