In a pilot project aimed at testing the use of electric taxis and buses, the city of Montevideo, Uruguay, has found that fuel costs for electric cabs as compared to those for gasoline- and diesel-powered taxis were nine times and seven times lower, respectively. However, the study also has determined that the purchase price of an electric-powered taxi is nearly four times greater than for a conventional cab, with an electric vehicle costing US$60,000 as compared to $17,000 for a diesel-powered taxi. The cost of an electric-powered bus also proved far higher than a diesel-fueled version—$500,000 versus $150,000. Gonzalo Márquez, an economist with the executive team of the Urban Mobility Plan, a transport-modernization program of the city... [Log in to read more]