This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

China's Oil Appetite to Charge Electric Car Market

Despite all this, Hill says it's important not to forget that certain states could continue to offer attractive incentives for fuel-efficient vehicles despite a reduction in Federal incentives. Much of it still "boils down to the will of the people in that individual state," he notes.

Based on CAR's study of hybrid vehicle sales during the last three years, the group projects an electric vehicle sales rate of roughly 120,000 units a year. That's about a 1% share of the total automobile market for 2011 to 2015.

Looking at the projections, Hill thinks California would likely account for about 25% of the electric vehicle sales, and New York and Virginia would be among the states to follow at about 4% to 5% of the sales. "The states with more incentives due to any public policy is based on who's electing the folks going into public office," Hill noted. "California is more progressive and left-leaning with politicians that like to advance social causes."

Hill thinks California's large Asian population might be another reason why the overall sales count for hybrid vehicles has been higher in California, with Japanese automaker Toyota (TM) enjoying sales in California that are almost three times its national sales rate. Toyota is the maker of the popular Prius hybrid, which has been available to consumers for more than a decade and is a bellwether for hybrid vehicle demand.

Lithium battery product suppliers were losing ground Tuesday morning. A123 Systems (AONE) was falling 2.4% to $4.72, Ener1 (HEV) was lower by 0.3% to 90 cents, Valence (VLNC) was behind by 0.8% to $1.28, Polypore International (PPO) was losing 5.1% to $65.06, Sociedad Quimica y Minera (SQM - Get Report) was behind 0.2% to $65.33, Johnson Controls (JCI - Get Report) was falling 1.1% to $37.10 and Advanced Battery Technologies (ABAT) was down 0.8% to $1.38.

-- Written by Andrea Tse in New York.

>To contact the writer of this article, click here: Andrea Tse.
Copyright 2011 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
VLNC $0.65 0.00%
PPO $0.00 0.00%
ABAT $0.04 -6.82%
JCI $40.60 0.00%
SQM $20.81 0.00%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs