Romney To Pull Federal Support From Electric Auto Industry

Oct 30

08:24

2012

Ramyasadasivam

Mitt Romney said ahead of the election, "Look into the future and see the debt that's being amassed and say, 'What is right for America?'

This is a time of big choices, of big consequence. It's a big election." Whether you're a supporter of President Barack Obama or Governor Mitt Romney, our decision will not only greatly impact our policy and our economy, but it stands to shift the automotive industry as well.

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On Friday, Republican candidate Mitt Romney vowed that if he will serve as president, he will halt government funding for electric vehicle companies despite continuing the support of energy research.

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During the first round of presidential debates, Romney had already criticized the president, "You don't just pick the winners and losers; you pick the losers."

Then, Romney said during a visit in Iowa, "Rather than investing in new electric auto and solar companies, we will invest in energy science and research to make discoveries that can actually change our energy world. And by 2020, we will achieve North American energy independence."

Romney added further, "The idea of individual investments being made and guarantees being made to specific companies, I think, is a less effective course than the government investing in basic science and technology - and then letting private enterprise exploit the innovations."