DOE Transportation Budget Is All About EVs

- February 17th, 2011

Reuters reports that The 2012 Department of Energy budget includes a 20-page section on Vehicle Technologies (VT), and many references to vehicle electrification.

Reuters reports that The 2012 Department of Energy budget includes a 20-page section on Vehicle Technologies (VT), and many references to vehicle electrification.

The market news is quoted as saying:

The majority ($229 million) of the VT budget increase goes towards the expansion of the EV deployment and infrastructure rollout. This is a $200 increase in the program that will largely benefit the Clean Cities program where metropolitan areas provide grants for purchasing of EVs and charging equipment.

This is welcome news for EV charging equipment (EVCE) companies who are likely to see increased orders for 2011-12 by local transit agencies and fleets. Pike Research projects that $61 million will be spent across the U.S. on EVCE during 2011.

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