exxon's electric car trip to baltimore - buy li ion battery
The oil giant teamed up with automakers Electrovaya and the Maryland Science Center to provide Maya 300 for residents and tourists in the charming city. NEW YORK (CNNMoney. com)--
Although Exxon oil's well-
The oil giant said Tuesday it is sponsoring a project to achieve zero
Baltimore electric vehicle
The car, called Maya 300, is a partner of oil companies and electric vehicles.
Manufacturer of electric vehicles. Exxon (
Top 500 XOM in the world)
Provide parts for lithium in Electrovayaion battery.
Maya 300 is scheduled for sale in 2011, but visitors to the Maryland Science Center can test drive free of charge on the tracks inside the building starting Tuesday.
The test was scheduled to end in August 1, when a car
Membership fees will be charged for the sharing plan.
By car-
Sharing the plan, drivers can rent Maya 300 cars for $14.
50 hours, at least 2 hours.
A press release said the standard lease plan will also be launched "in the coming months.
No more details available.
Environmental problems.
Rex Tillerson, president and chief executive of Exxon, has been opposed to putting the company's future on alternative energy.
On August 2008, Tillerson told ABC, "I can't say that we will choose alternatives elsewhere at the expense of oil and gas, because oil and gas will take us [the]future.
"In the same year, the influential Exxon shareholders Rockefeller family tried to separate Tillerson's CEO and chairman positions, saying they wanted Exxon to invest more in alternative energy.
Four large British investors then joined the family's efforts, but eventually failed.
Thanks to Tillerson's position, while Exxon has been working on alternative energy for years, it is a surprise for some to enter the electric vehicle market this time.
"My initial response was that it was PR," said Paul Weiss, an analyst at Argus Research . ".
But Robert Kessler, an analyst at Simmons International, disagrees that Exxon's move is public --relations grab.
"I think there is a real interest in improving energy efficiency," Kessler said . ".
"They are interested in all the options, especially any investment that brings attractive returns.
Exxon is one of the slower companies.
Kessler said mobile, more conservative "Energy companies have achieved results so far in renewable energy investment.
"After the event, we saw an investment in [
Alternative energy
"A year ago, it seemed too early relative to today's opportunity," he said . ".
Kessler said Exxon's caution helped the company make profits.
Just invest in time?
The move could also be part of a bigger incentive to invest in Electrovaya or other small alternatives --
Argus Weiss says energy companies, thanks to Exxon's strong balance sheet and large amounts of cash.
"Exxon has the ability to take some risks," said Wes . ".
"If the companies they invest in perform well, it would be a good move for them to have an equity in them.
Electrovaya says Maya 300 will be zero
Emissions and low
Speed, there is a standard battery pack that can travel 60 miles at a single charge, about $25,000.
Another version of 120 miles long
Range battery sells for about $35,000.
Tuesday's event will also include Exxon-
Energy efficiency exhibition sponsored by Maryland Science Center.
Exxon invested $500,000 in the car.
Share shows and exhibitions.