7-8-11: Electric Car Industry Sparking a Profit?
The Chevy Volt and Nissan Leaf were released last December, and currently over 7,000 of these electric cars are chugging—or rather, humming—along American roadways. Maryland was one of the initial launch sites for the Volt, and the Leaf is expected to be more widely available here in the fall.
With the arrival of the electric car comes other needs – a place to plug it in, and activities to do while the vehicle charges. Public charging stations may have to figure out ways to charge for the electricity. There also may be a need to strengthen the electric grid, to account for increased charging.
Maryland, as a state, is interested in spurring that innovation: the government is using stimulus money to install at least 80 electric vehicle charging stations around the state (see the full list here)–they’re at places such as BWI Airport, a public parking garage in Baltimore, and outside a Safeway in Carroll County. It’s all part of the Electric Vehicle Infrastructure Program, run by the Maryland Energy Administration.
Clearly, the field is perfect for innovation…and this morning, Sheilah looks at the ways Maryland entrepreneurs could profit from the emerging industry.
She speaks with Mahi Reddy, the CEO of Annapolis-based start-up SemaConnect, which specializes in building commercial charging stations for electric vehicles, and with Jill Sorensen, the Executive Director of the Baltimore Electric Vehicle Initiative.