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Monday, February 07, 2011

Electric Car Stocks Get a Boost; Sen. Stabenow to Introduce Bill to Help Spur Advanced Vehicle Sales, Production Today

February 7, 2011 (Investorideas.com renewable energy/green newswire) Investorideas.com a leading global investor and industry portal covering the green and renewable energy sector reports on electric car stocks and battery stocks news and trading in morning trading as Senator Debbie Stabenow introduces legislation today to spur sales in the industry.
News:
Sen. Stabenow to Introduce Bill to Help Spur Advanced Vehicle Sales, Production Today
Legislation provides consumers $7500 rebate for electric vehicles, gives businesses a tax credit to purchase advanced vehicles
Monday, Feb 7
WASHINGTON - Senator Debbie Stabenow will introduce legislation today to spur the sale and production of advanced technology vehicles and create thousands of Michigan jobs. Sen. Stabenow's Charging America Forward Act will provide consumers with a rebate worth up to $7500 for plug-in electric vehicles at the time of purchase and give businesses a tax credit for purchasing medium or heavy duty plug-in hybrid trucks. The bill also extends a public-private partnership she helped create to increase the production of advanced battery technologies in America.
More info: http://stabenow.senate.gov/?p=press_release&id=239
Sector Snapshot
  • A123 Systems, Inc. (NasdaqGM: AONE) trading at $ 9.27, up 0.26 (2.89%) 10:19AM EST
  • ENER1, Inc. (NASDAQ: HEV) trading at $ 3.78, down 0.02 (0.53%)
  • Ecotality, Inc. (NasdaqCM: ECTY) trading at $ 3.70, up 0.10 (2.78%) 10:13AM EST
  • EVCARCO (OTCBB: EVCA)) trading at $ 0.0090 on over 1.1 million shares in early trading
  • Honda Motor Company, Ltd. (NYSE: HMC) trading at $ 42.97, down 0.24 (0.56%) 10:31AM EST
  • Tesla Motors, Inc. (NASDAQ: TSLA) trading at $ 22.95, down 0.51 (2.17%) 10:33AM EST
  • Valence Technology, Inc. (NASDAQ:VLNC) trading at $ 1.54 0.02 (1.32%) 10:33AM EST
  • ZENN MOTOR COMPANY INC. (CDNX: ZNN.V) trading at $ 1.65, up 0.07 (4.43%)
Market Snapshot
  • Dow 12,164.09 +71.94 +0.59%
  • Nasdaq 2,787.96 +18.66 +0.67%
  • S&P 500 1,320.17 +9.30 +0.71%
  • 10 Yr Bond (%) 3.6720% +0.0200
  • Oil 88.56 -0.47 -0.53%
Company Snapshots
EVCARCO (OTCBB: EVCA) (www.evcarco.com) is an automotive retail group dedicated to deploying a franchised coast-to-coast network of environmentally friendly dealerships and vehicles.
About A123 Systems
A123 Systems, Inc. (Nasdaq:AONE) develops and manufactures advanced lithium ion batteries and battery systems for the transportation, electric grid services and commercial markets. Headquartered in Massachusetts and founded in 2001, A123 Systems' proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology. www.a123systems.com.
Recent Green Car News:
NISSAN JOINS RENAULT'S ZERO-EMISSION MOBILITY PARTNERSHIP
WITH CASTILLA Y LEÓN
Castilla y León, Spain (Feb. 4, 2011) - Nissan International SA has joined Renault SA's partnership with the regional government of Castilla y León to advance zero-emission mobility in the region through the promotion of electric vehicles and an electric-vehicle charging network.
Under a Memorandum of Understanding signed by both parties, Nissan will deliver electric vehicles to Castilla y León through its dealer network, starting in 2011 with the 100% electric Nissan LEAF, the world's first affordable zero-emission vehicle for the global mass market. Nissan will also help define and validate EV charging devices in the region to ensure their compatibility with current and future regulations. The regional government plans to set up 900 public charging points by 2015. Of that total, 300 will be located on streets while 600 will be installed in underground parking areas. Castilla y León may supplement some with quick charging points depending upon market demand. By the end of 2011, 40 charging points are expected to have been installed above ground and 60 underground.
Castilla y León is also planning several financial and non-financial incentives to boost demand for electric vehicles, including tax credits and subsidies for home charging units.
"Castilla y León will be the first Spanish region to mass produce a 100% electric car when Renault, with whom we signed an agreement last year, starts producing here in late 2011. Our Regional Strategy for EVs includes measures to boost consumer demand and industrial activities linked to such cars. We are also investing in the necessary charging infrastructure to guarantee the success of this new mode of transportation. Together with Nissan and Renault, the two leading global automakers in electromobility, we now have a solid partnership for advancing the market," said Tomas Villanueva, Economic Vice President of the regional government of Castilla y León.
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