|By PR Newswire||
|October 16, 2012 04:53 PM EDT||
WASHINGTON, Oct. 16, 2012 /PRNewswire-USNewswire/ -- Brian Wynne, president of the Electric Drive Transportation Association (EDTA), issued the following statement in response to today's announcement about Johnson Controls purchasing A123 Systems' automotive business assets:
"Consolidation is an expected market force in all emerging industries, especially one as dynamic as the global electric drive market. Advanced battery technology powers the electric drive industry, increasing the fuel efficiency of the U.S. automotive fleet and reducing our reliance on imported oil.
"Johnson Controls' purchase agreement is a positive development for A123's U.S. operations and for the long-term growth of the advanced battery industry. The electric drive industry is still in the early stages of market development – this is the second year of plug-in hybrid and electric vehicles availability on the mass market. The U.S. has already seen tremendous growth throughout the electric drive supply chain and battery technology during this time. The energy storage market is projected to be a $50 billion global industry by 2020.
"Standing up an entirely new supply chain is a challenge to which industry leaders are committed. Strong private investment continues and manufacturing opportunities for advanced batteries and electric drive components are growing jobs and building market share. The global race in the energy storage market is competitive and moving rapidly – it is critical that the U.S. secure a position as the leader."
The Electric Drive Transportation Association (EDTA) is the preeminent trade association promoting battery, hybrid, plug-in hybrid and fuel cell electric drive technologies and infrastructure. EDTA conducts public policy advocacy, education, industry networking, and international conferences. EDTA's membership includes vehicle and equipment manufacturers, energy companies, technology developers, component suppliers, government agencies and others. For more information about EDTA and its members, visit ElectricDrive.org. For information about owning and operating electric vehicles, please visit GoElectricDrive.com.
SOURCE Electric Drive Transportation Association