Wright on target (intro)

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Home > Journal > December, 2009

Wright on target

Electric vehicle pioneer Ian Wright is aiming for a different target from Detroit.

We are given plenty of reasons why we ‘should’ all buy electric cars. They will safeguard the environment. They will enhance national security by reducing our dependence on foreign oil. They will create a Detroit 2.0 that can pay back the taxpayer. What we do not hear is a more free-market economic argument.

“And the reason for that is because it fails,” says entrepreneur Ian Wright. “The fundamental problem is that you’re competing with the Toyota Camry, the best-selling mid-size car in the U.S. For less than $20,000, it does more than 30mpg. You can buy one and be sure that you’ll get 50,000 miles out of it and it’ll be reliable. The way things are today, an electric car is going to be $50,000—and that still might be subsidized. The number of people willing to pay that kind of premium is vanishingly small.”

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