REV and TAF form "Battery Breakthrough" company
Rapid Electric Vehicles a Toronto Based electric vehicle company and The Toronto Atmospheric Fund are forming a joining forces to create a new company that will help enable EVs compete in price to the traditional alternative. Currnetly one of the major hurdles stopping the wide spread adoption of electric vehicles is the high cost of the batteries. The batteries cost a lot because they are only being sold in low quantities. So it is a bit of paradox. To address this issue REV and TAF are forming a company that will lease the batteries to fleets. This way the fleet owner only has to purchase the vehicle with out the batteries. It looks like the batteries will be leased in either 5 or 10 year increments. Form more information on this please refer to REV press release at
http://www.rapidelectricvehicles.com/TAF-REV-Press-Release.pdf
