Global green transportation stimulus funding gets $44 billion boost

"Close to US$44 billion in economic stimulus funds and other incentives are being directed at the development of alternative fuel and advance technology vehicles according to a new analysis by the Deloitte Touche Tohmatsu (DTT) Global Manufacturing Industry group. The automotive analysis reveals that economic stimulus packages and other government programs are being emphasized in at least 13 markets.

'Consumer demand for greener vehicles as well as new regulations will heavily influence the development and marketability of innovations in the automotive industry,' says Hans Roehm, DTT Global Manufacturing Industry Leader. 'Our analysis shows that the United States is leading in terms of economic stimulus and other government incentives with an estimate of US$27.4 billion directed towards alternative fuel technologies such as EVs.'

In 2009, Deutsche Bank estimated that global sales of electric, hybrid, and other alternative fuel and advance technology vehicles stood at 1 million and could rise to 1.3 million in 2010. According to J.D. Power and Associates, sales of hybrid-electric vehicles could reach about 1.3 percent of an estimated 67 million light vehicle sales this year. While hybrids and electric vehicles (EVs) represent a small fraction of total cars on the road today, the DTT Global Manufacturing Industry group estimates that by 2020, electric vehicles and other "green" cars will represent up to a third of total global sales in developed markets and up to 20 percent in urban areas of emerging markets."

http://www.electricvehiclesresearch.com/articles/global-automotive-industry-gets-us-44-billion-boost-00002261.asp