I just read about a Company Called Tesla (NOT THE BAND)Motors who has been developing the first fully electric high performance sports car (U.S.). I wanted to talk about this because, it kick ass, and the article, NY Times, discussed how the company has run out of money from its initial investors and in order to develop a second generation of their concept in the form of a less expensive sedan model, they need help from the Government in the form of Tax payers money. Is this a good investment for us?
The fact that battery technology currently does not progress like computer technology increases the expense of developing electric cars. The chemistry of a lithium Ion battery does not allow you to cram more stored power in a smaller and smaller battery. Computer chips on the other hand, double in capacity and become cheaper to produce by the week. The NY Times article quoted Moore's Law (rule of thumb in the computer industry) which implies that costs drop by half every two years while transistors on integrated circuits double. If this were true for battery technology, several auto makers would have better electric options today.
There are some options on the market like the gas-electric hybrid car that somewhat reduce emissions and decrease demand for gasoline but the fact is we need alternatives that emit zero carbon dioxide and use energy that can be renewed. Period. If the tax payers are giving billions to wall street to go on half million dollar retreats then we should give some millions to this company or any company that seems like they have a realistic chance of pushing these technologies forward.
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