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Published on : Feb 03, 2015

The Department of Energy, recently declared that an amount exceeding US$55 million would be spent on developing and deploying advanced vehicle technologies that aim at improving fuel efficiency and also help to minimized excessive consumption of petrol. The EV Everywhere Grand Challenge of DOE has received much support from this funding opportunity. This particular challenge basically calls for major improvements in the performance and the efficiency of plug-in electric vehicles and as per predetermined targets, sufficient efforts need to be made to ensure that these electric vehicles become convenient and affordable by 2020. 

The targets for the year 2022 include reduced vehicle weight by 30%, battery cost of US$125/kWh, and an inverter cost of US$8/kWh. In May 2014, it was announced by the Multi-State ZEV Action Plan that by 2025, there will be approximately 3.3 million ZEVs (Zero Emission Vehicles) on the streets. Hydrogen powered fuel cell vehicles, battery electric vehicles, and plug-in hybrids will fall within the ambit of the Action Plan. Vermont, California, Rhode Island, Connecticut, Oregon, Maryland, and New York are some of the states participating in the same. 

Higher government spending on ZEV fleet, marketing activities for promoting ZEVs, incentives on consumer purchase, and standardized codes for charging stations will be some of the state initiatives. In spite of the progress so far, prices of domestic gasoline is still very very low (about US$2 a gallon). And if this is sustained, it could act like a major challenge for the growth of sales of EVs. Consistent state and federal efforts mainly aim at mitigating the economics of gasoline in order to bring about economic efficiency.