GM HYBR.OB $4.26 Hybrid Technologies Remains a Market Driver for the Evolution of the Electric Vehicle
With rising concerns of air pollution, and gas prices inching toward $4 a gallon, it’s no wonder electric powered vehicles are gaining popularity. Hybrid Technologies (OTCBB: HYBR) is a concept and brand development corporation utilizing lithium-powered technology to fuel its off road cars; more than $100 million of venture investments were made in the battery market last year – a market expected to flourish with the rising demand for electric vehicles (EVs).
While hybrid vehicles typically cost more than gasoline-fueled vehicles, they are generally more dependable. The cars require no oil change or tune ups, and have 1/10 less parts to maintain than a gas car; EVs have no engines, transmissions, spark plugs, valves, fuel tanks, tailpipes, distributor starters, clutches, mufflers or catalytic converters.
EVs produce 98 percent fewer pollutants than gas cars – only about 4 percent of electric generation is produced from oil, reducing emissions and the dependence on oil. Additionally, fuel cells consume four times the amount of electricity as EVs.
There arguments that EVs require more infrastructure and additional implementation costs; however, according to the U.S. Department of Energy, sufficient excess generating capacity exists each night to charge approximately 180 million EVs. This squashes the notion that massive investments will be required for new power generation and transmission infrastructure to support the rising EV trend.
Hybrid Technologies’ vehicles run an average of 80 mph, up to 120 miles. The LiV RUSH hits 0-60 in 5.9 seconds, takes up to 10 hours to charge, and is equipped with an LCD touch screen that displays the vehicles operations such as miles remaining, power consumption, each cells’ charge level, battery temperature, drive time, distance traveled and average speed. Hybrid Technologies’ line of products includes five cars and one all terrain vehicle running under the company’s LiV trademark, a British Embassy Mini Cooper, a chopper, moped and the “commanding cycle.”
Big names such as FedEx Corp. are also seeking green alternatives; the company recently announced it has tracked more than two million miles of revenue service from its fleet of hybrid-electric trucks. The trucks improve fuel economy by 42 percent, reduce gas emissions by 30 percent, and slash particulate pollution by 96 percent. The company currently has 170 hybrid vehicles on roads around the world.
According to Electric Vehicle Market Statistics, the EV industry hit $31.1 billion in global sales in 2005, and is expected to grow 7.3 times that by 2015. While gas vehicles still largely outnumber EVs on the road, more than 1,000 companies such as Hybrid Technologies are paving the way for a greener future with innovative developments.
Hybrid Technologies closed the week at $4.26, after spiking to $4.70 Wednesday morning.
