Tesla Motors Inc (TSLA), NRG Energy Inc (NRG) And 1 Key Question: Can NYC Taxis Jump Start Their Market?

Charging stations

Charging stations are key to the success of electric cars. Drivers need the comfort of being able to charge a vehicle quickly, with that charge powering hundreds of road miles.

The future of electric cars, it would appear, lies with those charging stations. At the moment, many of those stations sit idle much of the time, but companies like NRG Energy Inc (NYSE:NRG) are operating on an if you build it, they will come mentality. NRG’s eVgo network charges commercial and residential services a fee to install its stations.

Thanks to a large number of workplaces that are installing charging stations as part of green initiatives, NRG Energy Inc (NYSE:NRG)’s 2012 cash flow was $1.15 billion and its cash balance was $2.1 billion. While the eVgo stations are only one part of NRG’s operations, the company’s forward-thinking environmental consciousness is what draws investors to the company.

As investors keep a close eye on electric cars, it’s hard to know if technology will evolve to the point where electric cars will finally replace gasoline-fueled cars on our streets. The automotive field is certainly changing, but it’s hard to say for sure that electric cars are the direction in which the field is definitely going.

The article Can New York Taxis Jump Start the Electric Car Market? originally appeared on Fool.com.

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