Deutsche Bank makes a bold statement about electric cars in the US

Old-fashioned lead-acid battery, \"Shaddack,\" Wikimedia Three Deutsche Bank analysts took a hard look at Project Better Place’s business plan for an electric-car recharging grid in Israel and Denmark, and they drew this unexpected conclusion: The electric car scheme is viable in America, too. The assumption that it would make a cost-effective investment only in tiny nations with sky-high taxes and outrageous prices at the pump is dead wrong. How do they know?

Because Deutsche Bank crunched the numbers and found this. It will cost no more than seven cents to drive one mile under the Project Better Place scheme, including battery and electricity costs. Compare that with 24 cents per mile in Europe in a gas-powered car, and 15 to 20 cents per mile in America. Hence this conclusion: From checking the Project Better Place business model, we are concluding that a pure electric car should not cost any more than a diesel- or a gasoline-powered car, and in most countries its operating costs should actually be lower….


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