NEW YORK, NY--(Marketwire - Nov 1, 2011) - The high price of oil and an increasing consumer focus on environmental impact has given significant momentum to electric cars. Companies have begun boosting electric car production in hopes that fuel efficient vehicles will ignite a secular change on the roads. The Bedford Report examines the outlook for companies in the Auto Manufacturing industry and provides equity research on Ford Motor Company (NYSE: [ F ]) and Tesla Motors, Inc. (NASDAQ: [ TSLA ]). Access to the full company reports can be found at:

[ www.bedfordreport.com/F ]
[ www.bedfordreport.com/TSLA ]

Electric vehicle (EV) sales continue to improve and Federal tax credits for purchasing an EV are also helping to accelerate this shift. The Obama administration is currently in talks with automakers about setting a fuel-efficiency mandate between 47 and 62 mpg by 2025. Along with EV's rising popularity has come increased competition for the growing markets. The increased competition may give EV makers, which are investing the most in research and development, an edge.

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Senate Democrats recently released an energy bill, which sets aside over $4.4 billion for electric and natural gas-powered vehicles. Approximately $4 billion will be directed towards natural-gas vehicles with electric vehicles receiving $400 million. While this is a substantial amount, it is a far cry away from the $11 billion proposal introduced in May to the House and Senate.

With President Obama setting the target of having one million electric cars on the road by 2015, a large number of auto groups and associations, including the Alliance of Automobile Manufacturers, whose members account for 77 percent of total car and light truck sales in the United States, have called for the establishment of a new National Electric Fuel Task Force to propel the infrastructure and viability of plug-in electric vehicles to market.

Ford has been lobbying for electric vehicle tax breaks as well as making plans to triple its electric car output by 2013, and supports high fuel standards, provided they factor in the broader economic impact of higher vehicle costs.

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