With the electric vehicle, the other thing that's not very well understood is that gasoline engines, even the very best advanced technology engines, convert only about 40% of the potential energy in gasoline to motion. Electric vehicles can do it at about an almost 90% conversion factor, so you're getting twice the efficiency. That's where this other unknown factor is. When consumers understand it, we think that they'll gravitate towards electric vehicles, particularly in city areas. If I have a comparatively sized, very efficient gasoline vehicle and compare it to a Chevrolet Volt powered on electricity at today's prices, it's one-fifth the cost to travel in the Volt versus the gasoline vehicle, per kilometre.
On February 28th, 2013. See this statement in context.