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Obama win should fuel electric car production, says Tesla CEO

NEW YORK – The re-election of President Barack Obama will likely mean a continuation of the U.S. government’s policy promoting electric and hybrid vehicles, Elon Musk, the chief executive of electric car maker Tesla Motors Inc , said on Monday.

“I think that we can expect at least that things will continue as they have,” Musk told reporters at an event in New York. “I wouldn’t expect it to get any worse for electric vehicles, hopefully it will get a little better.”

Musk also said he would back any effort to boost federal tax credits for electric cars to as much as $10,000. He also said the company would install fast-charging stations on major routes throughout the United States by the end of next year.

Obama has said he would like one million plug-in hybrids, extended-range electric cars and pure electric vehicles on U.S. roads by 2015, a target that many analysts view as unrealistic given high EV prices and the lack of charging infrastructure.

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