Republican Party Presidential nomineee John McCain has championed zero-emission cars and called for more incentives to encourage greater take-up and technology enhancements.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
McCain said during a speech in Fresno, Calif., that a $5,000 tax credit for each zero-emission car sold should be granted to automakers.
McCain also called for a federally granted prize of $300 million — one dollar for every U.S. citizen — for a battery package that has the capacity to substantially increase the use of hybrids or electric cars.
“In the quest for alternatives to oil, our government has thrown around enough money subsidising special interests and excusing failure,” McCain said, according to a transcript of his speech reported by Dow Jones
“From now on, we will encourage heroic efforts in engineering, and we will reward the greatest success.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataMcCain also called for further development of alternative fuels and hastening the development of flex-fuel technology. He said that Brazil went from 5% flex-fuel use to more than 70% in just three years.
He also said that Corporate Average Fuel Economy, or CAFE standards, are not strictly imposed, leaving automakers unwilling to develop clean-air vehicles.
“Higher-end auto companies like BMW, Porsche and Mercedes employ some of the best engineering talent in the world,” McCain reportedly said. “But that talent isn’t put to the job of fuel efficiency, when the penalties are too small to encourage innovation.”
