ElectricVehicle

Hefty U.S. Funds to Jump-Start Electric-Car Sector

Federal funds will help create a big-enough manufacturing base to produce up to 500,000 electric cars yearly by 2015, according to the Energy Department. The funds, part of the economic stimulus program, will also boost the U.S. share of global battery production to 40% by 2015.

BMW Plans Electric Car With Lightweight Carbon Fiber Shell

BMW AG (BAMXF) plans to build a battery-powered city car with a lightweight shell made out of the same material used to protect Formula One drivers, Bloomberg News reported. The car will be cocooned in hardened carbon fiber supported by an aluminum frame, the company%u2019s development chief Klaus Draeger said. The carbon fibers will be made of 50,000 filaments that are each one-seventh the thickness of a human hair.