Electric plug-in vehicles, such as the Chevrolet Volt, will achieve the affordability of a traditional car in 2020, but only if the government cements a $7,500 tax credit for the vehicles, a Congressional Budget Office (CBO) analyst said on Monday.
CBO analyst Ronald Gecan said the production costs of electric cars are falling as automakers improve the technology required to build the car, though the industry still has years to go before it pulls even with traditional internal combustion engines.
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