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McAuliffe announces $1 billion electric car investment

Anita Kumar

Former -- and perhaps future -- Democratic gubernatorial candidate Terry McAuliffe is in Midtown Manhattan this week hawking cars.

On Tuesday, McAuliffe will announce to world leaders at the Clinton Global Initiative a commitment to invest $1 billion to build electric vehicles in economically depressed areas of the United States to spur the economy and create green jobs.

He spent Monday, the first day of the 2010 annual meeting, showing off his electric car on Seventh Avenue. He was joined by his good friend and former president, Bill Clinton.

"It doesn't get any bigger than this,'' he said in an interview from New York. "We're just trying to raise awareness."

clinton.bmp

McAuliffe, chairman of GreenTech Auto, paid $20 million in May for Hong Kong-based EuAuto Technology, which builds an electric vehicle called the MyCar.

He said that he has been speaking to legislators in his home state of Virginia as well as Tennessee and Mississippi about creating incentives for consumers who purchase electric vehicles.

The former chairman of the Democratic National Committee said the prices of what he calls neighborhood cars could be as low as $10,000 to make them affordable. MyCar can travel 70 miles on a single charge and has a top speed of 45 mph.

By Anita Kumar  | September 21, 2010; 2:15 PM ET
Categories:  Anita Kumar, Terry McAuliffe  
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Comments

The photo in this article should have been re-sized before it was posted. It's so large, many people will have trouble rendering it and it could freeze some computers.

Posted by: joewilder | September 25, 2010 12:53 PM | Report abuse

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