Chairman Markey Introduces Legislation on Next Generation of Hybrids

Washington, DC - Citing the vast potential to decrease America’s dependence on oil and address the looming threat of global warming, Representative Edward J. Markey (D-MA) introduced legislation last night that would give American families incentives to convert their existing hybrids into the next generation of plug-in hybrid technology. Plug-in hybrids increase the battery capacity of a standard hybrid, turning already-efficient vehicles into 150 mile per gallon gas-sippers.

The introduction of the legislation precedes a hearing and demonstration tomorrow of the vehicles by the Select Committee on Energy Independence and Global Warming. The hearing will feature actor Rob Lowe and experts on the field on the promise of these cars.
 
“These are the next coveted supercars that can go from zero to 60 miles without using a drop of oil,” said Rep. Markey, who serves as the Chairman of the Select Committee. “Our American automakers should take notice of this technological jump and make every effort to provide more hybrids to American families so they can take advantage of these innovations.”
 
The “Plug-in Hybrid Opportunity Act of 2007” would provide consumers with a vital tax incentive of 35% of the cost of conversion from a conventional hybrid into a plug-in hybrid. Initial conversion costs range from $6,000 to $9,500 depending on the size of the battery. This conversion would allow existing hybrids to begin traveling between 20 and 60 miles on a single charge, while using very little gasoline, allowing owners to recoup the conversion costs by increasing the overall efficiency of the vehicle to 150 mpg or more.

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