It was a good day for US based electric car stocks today, particularly Tesla Motors (TSLA) which surged nearly 7% on news that Michigan Senator Debbie Stabenow wants to replace the $7500 tax credit for electric vehicles with an instant $7500 rebate. 

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With the cost of electric cars out of the reach of most Americans, particularly in tough economic times, a bill like this would help stimulate demand.

With shares of TSLA, AONE and HEV looking close to completing corrections, perhaps now is a time to dabble.