Nissan, FedEx, others form group to develop course for $124B investment in electric cars

Group urges gov’t to invest in electric cars

WASHINGTON — A group of automakers, utilities and battery makers is urging the federal government to make a major investment in electric transportation.

A group led by Nissan Motor Co., Fedex Corp., and others are outlining a $124 billion plan over eight years that could make electricity the major power source for cars.

The group, called the Electrification Coalition, is urging Congress to pass a series of tax credits and loan guarantees to help bring 14 million electric cars to the road by 2020. Their plan envisions building up the use of electric vehicles in six to eight cities in the short term with the goal of making 75 percent of all vehicle miles traveled powered by electricity by 2040.