It sounds promising to me if an electric vehicle with such specs can have such a price tag. It is the promise of Chu from the US Department of Energy and he outlined the plans to invest in the US, on one hand to get more sustainable, on the other to create more jobs and boost the economic recovery.
Let's see how cheap such a car can really go, feel free to share your thoughts on the matter.
$25,000, 350-mile-per-charge electric car could be reality by 2017, DOE says | Greenspace | Los Angeles Times
Batteries are the ”heart” of electric vehicles, he said, adding that the Department of Energy is funding research that will drop the cost of electric-vehicle batteries 50% in the next three or four years and double or triple their energy density within six years so “you can go from Los Angeles to Las Vegas on a single charge,” he said. “These are magical distances. To buy a car that will cost $20,000 to $25,000 without a subsidy where you can go 350 miles is our goal.”