Recession – A Blessing in Disguise for Electric Cars?

Recession has hit the world bad, and automakers are among the biggest hit. But this ongoing economic crisis may turn out to be a blessing in disguise for electric car companies. According to certain industry experts, plug in electric cars stand a substantial chance of making a breakthrough in the North American car market in the coming few years as the economy comes out of the slowdown. According to an electric car industry led panel that advises the Harper government, it’s quite likely that in the next 10 years 15 percent of the new cars on road would be electric vehicles.

However the key drivers of such growth would lie in more efficient batteries and better energy storage solutions. With leading companies like Ford and General Motors warming to the new technology and developing electric cars for sale, chances of better solutions being developed soon seem brighter. In fact according to industry insiders, leading car makers are already in the middle of a historic revolution in technology. That coupled with governments of several countries taking an interest in promoting electric cars, to ease environmental pollution and reduce dependence upon fossil fuels has created a fertile ground for the success of electric cars.

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