No Government Support for Electric Vehicle Companies: Mitt Romney

As the 2012 presidential election approaches, candidate Mitt Romney is reiterating his stance on government funding for electric vehicle companies if he’s elected.

President Obama’s support for the Chevrolet Volt is well documented, and Romney has continuously criticized the current administration’s support and loans to EV and other advanced technology companies. Romney on the other hand, would rather support energy research if elected. Romney has also been critical on loans to both Tesla Motors and Fisker Automotive Inc.

“Rather than investing in new electric auto and solar companies, we will invest in energy science and research to make discoveries that can actually change our energy world. And by 2020, we will achieve North American energy independence,” Romney said in a speech in Ames, Iowa.

As a candidate, President Obama called for a plan of having one-million plug-in electric vehicles on the road, though that’s a highly optimistic number, even for 2015. This year however, the President has called for an increase to the EV tax credit, from $7,500 to $10,000.

“The president invested taxpayer money — your money — in green companies, now failed, that met his fancy, and sometimes were owned by his largest campaign contributors. He spent billions of taxpayer dollars on investments like Solyndra, Tesla, Fisker, and Ener1, which only added to our mounting federal debt,” Romney said.

[Source: Detroit News]