Obama Set To Appoint Task Force To Help Promote Automakers Plug-In Hybrid Car Technology

July 22, 2010 - PRLog -- ROME- Analysts’ at Palatine Financial take President Obama’s push for 1 million plug-in hybrid automobiles by 2015 very seriously. The president has shown he is adamant about progressing U.S. use of hybrid technology, pledging to fund a $300 million dollar lithium-ion plant and now helping to push a $11 billion bill to assist automotive and electrical utility industries.

Major automakers like General Motors, Ford, Toyota, Honda and Volkswagen have all said they will commit to the presidents attempts and fulfill the market with a wide variety of plug-in ready cars.

The fears; however, fall down on the consumers commitment to overcome the higher price tags associated with plug-in vehicles. Prices could rise $15,000 to $20,000, which is much more then the average consumer would like to pay and a cost the conventional vechicles do not come with.

Environmental groups and the automakers insist that the savings long term would cover the added expenses at time of purchase, and the added bonus of reducing carbon emissions would be priceless in the long run. Federal credits of up to $7,500 coupled with gas prices staying stagnant also helps add incentive to consumers looking at electric and hybrid vehicles.

A collection of four trade groups representing both U.S. and foreign automaker, electrical utilities, and electric vehicle firms asked the Obama administration for the task force to help coordinate local and federal programs targeted to inform and encourage consumers of plug-in hybrids and the benefits they have.


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As a full service wealth management and financial services group, Palatine Financial is dedicated to providing individualized services that comprehensively meet all of our clients’ needs.