Government investment in electric cars not exactly proceeding at full speed

Jeff Horwich May 31, 2012

Supposedly the American market for electric cars will pick up any day now. Any… day… now. The Obama administration has given $1 billion since 2009 to American companies to produce better batteries for electric vehicles. It’s part of a six-year goal to make 1 million electric and plug-in cars. Half-way through, plants have made 50,000 cars and have created less than one third of the jobs promised by 2015. Thing is, these ambitious production goals are a problem when, um, no one is buying your product.

From the Wall Street Journal:

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