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Dec 05, 2012 NEWSwire
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2013: Turning Point for Electric Cars?

Seeking Alpha contributor Richard Richter lists six reasons why he thinks 2013 may be the turning point for electric vehicle industry.

Published: 05-Dec-2012

In 2008, the electric vehicle industry entered into the hearts and minds Americans. What followed however, were years was wrought with many challenges and difficulties; the high costs of cars, limited range distance and poor planning each played a role in the slow adoption of electric vehicles. That's in the past, and with lessons learned, the electric vehicle industry is poised for an unprecedented upswing; from an investment standpoint, these stocks could not be any cheaper than they are now.

1. Valuable lessons from past mistakes

During the past few years, many companies who have received alternative energy grants from by the US Department of Energy have failed. A good example would be A123 Systems (AONEQ), a start-up company from MIT, to manufacture battery packs for electric vehicles and General Motors (GM) main battery supplier. The Company received a grant of $249 million dollars for a product that had numerous defects. Early this year, the Company announced a first quarter net loss that reached approximately $125 million due to a recall. Just last month however, the company filed for Chapter 11 bankruptcy and sold its assets, contracts and rights to Johnson Controls Inc., (JCI).

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