Wednesday, June 18, 2008

When Electric Cars Hit the Fast Lane - TIME

When Electric Cars Hit the Fast Lane - TIME: "Clearly that has changed, and young companies like GEM are taking advantage. GEM, which stands for Global Electric Motorcars, is a Fargo, North Dakota, subsidiary of Chrysler that's been selling small electric vehicles for a decade — or as GEM President Rick Kapser has said, 'back when gas was a $1.25 a gallon.' GEMs may look a bit like golf carts — and they may occasionally be used as golf carts as well — but they are real, street-legal vehicles, drivable on any road with a speed limit of 35 mph or less. Their success provides a good window into the growth of the electric car market — unlike Chrysler's other brands, GEM is profitable, selling about 37,000 cars over the past decade, ranging from $7,000 bare-bones 2-seaters to larger, more comfortable vehicles that can cost more than $12,000."

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