Five years ago, biofuels such as ethanol and biodiesel looked like the best bet for breaking the world's addiction to oil. Biorefineries turning corn into ethanol sprouted across the Midwest, while startups trying to make fuel from wood chips or grass soaked up venture capital. Big automakers considered electric cars a lost cause.
Now the situation has been reversed. The buzz surrounding electric transportation has never been louder, while the biofuel industry struggles to regain momentum after two brutal years.
By the end of 2010, two global automakers will start selling plug-in cars priced for the mass market. Nissan will introduce the all-electric Leaf, while General Motors offers the Chevrolet Volt, a plug-in hybrid that runs solely on batteries for the first 40 miles of every trip. Automakers as different as Ford, Toyota and Porsche all have plans to go electric.
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