BY REBECCA SHEEHAN

NEWJERSEYNEWSROOM.COM

The future of the automobile industry is now upon us as electric cars continue to flood the roadways. Although, the electric car may cost $6,000 - $7,000 more than its gas powered counterparts, by 2015 or 2016 that price will fall dramatically, according to reports by Moneynews.com.

Michael Farkas, CEO of Car Charging Group, which provides public charging stations, says in an exclusive interview with John Bachman of Newsmax TV,  “There will be a point in time — and it's not going to be today, and it's not going to be tomorrow — that electric cars will be cheaper, or at least as inexpensive, as internal combustion engine cars.”

According to Farkas, the biggest selling point at the moment for electric cars is that they cost approximately 20 cents per mile to operate, compared to $1.00 for a gas run vehicle. “[T]here's no question of what people will buy,” given that differential, Farkas noted.

Another bright selling point in the electric automobiles favor is the owners receiving government subsidies to the tune of $7,500 a vehicle. “It's very important right now for the government and business to work together,” Farkes said in a Moneynews.com article.  “This is an industry that needs help,” he says.

Car enthusiast naysayers out there are staying away from going electric due to the anxiety that the range of the vehicle will simply not be enough to get them from Point A to Point B. Farkas believes this should completely not be an issue.  “First of all, I want to state for the record that it is a false anxiety,” he says. “Most Americans travel under 40 miles a day. So, if you have a car that goes 50 miles in electric range you have 10 miles more than you really need to go.”

If a long range electric car is what you are waiting for, than according to Farkas you won’t have to wait as long as you might have thought. Currently Tesla Motors has come out with an electric car, the Model S, which travels more than 300 miles on a single charge.