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The global automotive industry is receiving close to US$44 billion from governments around the world to develop alternative fuel technologies, analysts at Deloitte reveal. The market for alternative fuel vehicles is being strongly supported economic stimuluspackages and other government programs in at least 13 markets.
The economic stimuluspackage currently before Congress could include incentives for both buyers of electric vehicles and electric vehicle battery manufacturers. While it is not the first time a future of electric cars has been on the horizon, industry experts say this time its for real.
The new administration’s stimuluspackage allots $2B for advanced batteries, $300M for federal and states fleets to buy new clean fuel vehicles and $7,500 tax rebate for PHEV, with yet more money in the Auto-Industry Re-tooling fund. No on has a lock on this future; everything is up for grabs.
This is a global challenge, to which different countries can contribute in different ways, and the big picture must be in view. Since the general auto market remained slumped, global EV market share increased nicely from 2.8% Globally ~14k Ioniq BEVs were sold. It *is* literal madness to keep doing it. 3RD PLACE — TIE!
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