When Will Plug-In Cars Pay Off?

Report says it will take decades for benefits to outweigh battery cost

Automakers are promising that affordable plug-in hybrid electric vehicles will be available in the next couple of years, but a new report contends that it will be decades before the fuel savings and lower emissions make up for the high cost of batteries.

The National Research Council issued its reality check on the prospects for plug-ins on Monday, the same day that Toyota announced it would field an "affordable" plug-in version of its Prius hybrid in the United States in 2011. The Japanese automaker said the car would be capable of traveling 14.5 miles on electricity alone, and achieve levels of fuel economy equivalent to 134 miles per gallon.

Toyota is just one of the companies in the race to get plug-ins to the marketplace. General Motors and Nissan are expected to roll out their entrants — the Chevy Volt hybrid and the Nissan Leaf all-electric car, respectively — by the end of next year.

GO HERE to read more.