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There's a big push to -- make Americans be a little more green and more fuel economical right well is that what you wanna drive a hybrid -- some of the problems of the hybrids of the -- -- battery costs are expensive.
The car prices are a little higher than a lot of you would like to pay and some people not the battery life.
Well Charles -- the congress company and -- one is trying to solve both those problems.
They have just opened up a new lithium ion battery factory in Indiana.
And could add as many as 3000 jobs and we do appreciate you joining us here Charles definitely thank you thanks thanks for having all right well listen -- -- we talk about adding jobs were happy to do so so congratulations on that the factory right now is it is it up and running.
Yes we cut the -- and on the plants on Friday in Indiana we had senator Evan Bayh from our home state senator Indiana.
Help -- cut the ribbon and we also announced and you letter of intent with beautiful car that fiscal karma.
Will we be producing batteries hopefully that car in a -- a beautiful car yes.
It's not cheap and is not that my name on the roads I imagine you're looking for more mass production as well.
Yeah well one of the things -- think that we have to understand any knowledge is with any new technology introduction.
You have to start somewhere and and we need to build this thing brick by brick and as with the iPhone and the iPod and other introductions.
You start with a higher priced product and you drive the price down over time you need economies of scale that's the big problem people look at -- -- -- to be.
Fuel in you know in energy conscious but I'm not gonna pay seven grand more for hybrid.
-- never make that up in gas savings that he -- And with the current nickel metal high drive that's true but lithium -- just -- -- your cell phones and laptops half the size have to wait more than half the cost.
And when we shifted in the early ninety's to lithium from nickel -- in the nickel middle high -- in cell phones and laptops.
We drove penetration rates through the roof and then then that's the same sort of -- you're gonna have here where shifting from the current Prius nickel metal high tech technology.
To lithium batteries don't really gonna help and it was interesting I mean how green is this because WIRED Magazine pointed out that Toyota Prius is probably the least environmental car on the road.
Because -- -- -- nickel -- -- -- the and Nichols minded like the outskirts of Siberia and in South America.
That in order just to get the nickel to the market to a factory like yours to make the car.
You've already burned a 100000.
Miles worth of gasoline just to build a car -- That the Hummer was more environmentally sound in the Prius.
I was looking in my -- and I think that's a little bit of an exaggeration but that's WIRED Magazine -- having none nonetheless and and the.
Point is valid which is first of all we use very environmentally friendly materials to -- -- our product manganese titanium.
We -- very very small amounts of lithium which is a common misperception with lithium ion batteries I think that's step one.
Step two when you look at sort of the efficiencies that you get not just -- the hybrid that with the future with a plug in hybrids and full Electric's right.
You reducing your dependence on foreign oil completely out for example with the Fister.
Which is a plug in hybrid electric vehicle fifty or PA TV fifty meaning the first fifty miles a day you drive you know.
Uses no gasoline.
You don't let up this very small company comes out his car like that we've been waiting on the GM volt since like 1972.
So and about the comment on that you know look I mean Detroit is certainly behind people I think -- financial distress read like a couple hundred people working there and they came out -- car like that.
And that's why we're so excited to work with some of these venture -- car companies we do have a larger OEM customers in Europe and Asia.
And we're waiting for Detroit.
We're waiting for Detroit we really hope the Detroit gets in the game we think Obama is doing absolutely the right things.
In terms of putting strings attached to the dollars he's putting into Detroit.
That you have to make more fuel efficient vehicles so -- didn't get Detroit back in the game but do Americans want them.
Well end and they say that the president says it but I I don't care -- fuel economy yeah well.
Your -- you know that what you're -- a scorecard there is now.
I mean it yet again we don't want that's the beauty of this here by the way you can have I think they're trained to work every day -- compelled to drive around a little bit sure.
So I think the direct answer there is is you cannot have the the gasoline arbitrage we have in the US when I mean -- you paying ten dollars a gallon in Europe.
And you paid two dollars a gallon US you can't have that mean we need much more responsible policy.
Right I'm not sitting here in the middle of a recession calling for gasoline tax but we need to do something Europeans have been small towns close to where they work.
I don't live like we do.
There's no doubt that's ruled there's less range ideology and smaller geographic footprint.
But we also have to get away from having a large SUV in every driveway in America why is that the American dream right why not being more responsible.
And -- not being more fuel conscious in fuel efficient.
That to me is a government policy where we need to make sure that both from a carbon emissions and a and a fuel consumption standpoint -- being more thoughtful as consumers you saw that.
Oil went to it that you when oil went to 150 dollars a barrel.
-- went to four dollars and I don't -- -- I drive a scooter to the train station so I don't feel bad about leather carbon footprint eggs that -- people in America -- buy cars buy big cars.
Because if if you're on the road in a Smart Car -- Prius.
OK and I get Johnny behind me in his Hummer to feed off my bumper.
I wish I was an SUV two and you get scared of people that you are you going to -- -- -- -- -- arbitrage that a lot of people view it as safety that's why where people boat.
When can we get your technology in big cars people want space -- it.
And one of the -- that is actually one of the most exciting programs working on is a heavy duty hybrid program for buses and you know when we look at that for example we've been working on this program with that US -- we.
Q test -- batteries in drives urban drive cycles right.
Where where hot climates cold climates to make sure that we can optimize heavy duty hybrid hybridization of busses because the -- is the perfect vehicle to hybrid.
And if we can if we can start with the big cars and work our way down.
I think that can really help out wasn't trying to be good really what I'm saying is that you know for me just again for me as a car buyer first thing -- look at his price.
And it's -- I want and safety.
You check fuel economy go to go broke but.
I think it was a five bucks a gallon again if you look what Chavez is doing in Venezuela I think my point about -- will take it.
And and and you had I know you just had a piece on that so I mean I'll I'll just -- just that by saying that it is not going to be we have a small window of opportunity.
Before the price of oil starts to increase again whether it be the economic recovery where there'd be commodity price inflation because we're taking on so much debt.
As easy as -- as the United States to invest in the United States for a stimulus.
Both of those are gonna lead to higher you are everywhere and you're creating jobs in the United States that's exact their -- Charles -- -- -- thank you very much Ener1 thank you factories up and running.
That's correct art when you get more customers to let us -- we'd like to promote good news for once.
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