We all know the Prius. It put Toyota on the map for hybrid technology. There were many of us that even counted the Japanese car manufacturer out for the next stage in alternative fuel technology, yet they are busy getting ready to release their electric car, but who could possibly believe they are seeking to release a hydrogen fuel cell car by 2015?
Well they are.
This week's Detroit Auto Show showed off many electric cars.
We all know that the Prius made Toyota into a green car company, but critics have been fast to criticize the company for not moving forward with an EV the way GM has.
Although we all know that EVs are the wave of the future, one of the reasons they have not received more acclaim from the masses is the price tag. The main reason why a car like the Chevy Volt sells for $40,000 is the steep cost of its lithium ion battery. But that is about to change.
GM has hired South Korea's LG Chem to produce battery cells for its li-ion batteries. GM will use these cells for its Michigan plant battery production. GM figures that this will lower the cost of cars like the Chevy Volt and boost sales. Let's hope they are right.
I haven't written about Peak Oil in a while, but that doesn't mean I haven't been paying attention to it. Most people after a getting a little Peak Oil scare last year have begun to pay attention to the economy unraveling at the seams and have forgotten about the specter of Peak Oil as the oil prices have fallen below 50 dollars a barrel.
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