Legislation that includes tax credits for plug-in electric vehicles has passed the Senate. Now the House gets a chance to look things over and put it to a vote. The tax credits allow buyers of PHEVs to receive a credit as high as $7,500 and as low as $2,500 depending on the capacity of the vehicle's battery. Toyota had raised concerns that the bill focused solely on battery capacity, as its currently announced hybrid plans do not include anything that would approach the maximum credit. In fact, the Chevy Volt sits alone as the only product that has enough battery capacity for the top tier. Chrysler's recently shown electric vehicles would theoretically qualify if they ever see the light of day.

Once 250,000 qualifying PHEVs are sold, the credits begin to get smaller until they go away completely. At this point, the legislation -- and the vehicles -- have a long way to go before anybody could actually purchasing a qualifying car, but the framework is now in place.

Fisker Automotive is going to have its work cut out for it when it comes to meeting its self-imposed deadline of bring the Karma sedan to market by the fourth-quarter of 2009. To complicate matters even further, the automaker is now rumored to be working on three more plug-in hybrids. That would represent a truly serious undertaking for such a small automaker. To ease matters slightly, all four models would use the same basic underpinnings -- including the most important piece of all, the lithium ion battery and its assorted bits. Fisker has recruited Quantum Technologies, a company which has seen success building vehicles for the military, for help in creating the drivetrain for its electric vehicles. Reportedly on the drawing board are a coupe, a convertible and an SUV, all of which should go a long way towards meeting Fisker's goal of selling 15,000 vehicles a year by 2011.