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Financial News Network
July 10, 2012 AT 9:27 PM
In other news today, Electric Vehicles, or EV's are on the rise with a little push from 16 big cities around the world. While California may lead the US in green-biofuel equipped stations, LA is but one of the cities that are trying to sell 6 million plug in, electric cars by the year 2020. Other cities include NYC, Barcelona, Amsterdam, Berlin, and Shanghai. Some cities, like Amsterdam, are offering Electric Vehicle subsidies as an added incentive to switch over to the new type of car. They hope to put ten thousand on highways in the next 3 years. Ambitious indeed, but not unimaginable. With an increase in car rental agencies like ZipCar, people aren't necessarily committing to purchasing a new vehicle, and the option to rent a quiet, smooth riding, and ultimately green car, might be the perfect option for your city escape to the trails. Increasing car rentals is also a way to cut down on the number of vehicles on the road and would compound the benefits of having green cars. LA currently has a population of just under 10 million people and over 5 million registered vehicles. By 2015, LA hopes to raise the number of EV's from 2000, to 80000. According to Hybridcars.com, California is offering a $2500 rebate for the purchase of new EV's and it stacks with the government's $7500 tax credit. California will also be introducing electric public transportation and has invested over 60 million dollars to install and update local power grids to handle the new technology. You can also get a 2000 dollar discount if you install a power station at your home.