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Electric Car Prices to Drop by 2015

The future of the automobile industry is now upon us as electric cars continue to flood the roadways. Although, the electric car may cost $6,000 – $7,000 more than its gas powered counterparts, by 2015 or 2016 that price will fall dramatically, according to reports by Moneynews.com.

Michael Farkas, CEO of Car Charging Group, which provides public charging stations, says in an exclusive interview with John Bachman of Newsmax TV, “There will be a point in time — and it’s not going to be today, and it’s not going to be tomorrow — that electric cars will be cheaper, or at least as inexpensive, as internal combustion engine cars.”

According to Farkas, the biggest selling point at the moment for electric cars is that they cost approximately 20 cents per mile to operate, compared to $1.00 for a gas run vehicle. “[T]here’s no question of what people will buy,” given that differential, Farkas noted.

Another bright selling point in the electric automobiles favor is the owners receiving government subsidies to the tune of $7,500 a vehicle. “It’s very important right now for the government and business to work together,” Farkes said in a Moneynews.com article. “This is an industry that needs help,” he says.
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