If you’ve got a Christmas wish list that includes, “Electric vehicle with 500 mile range,” then you might be in luck. The Electric Drive Vehicle Deployment Act of 2010 is a bill that’s currently sitting in the House and Senate which could help grant you your Christmas wishes.

The bill has several important measures but the Senate version has a particularly interesting measure that would award a $10 million prize to the first company to create a commercially viable electric vehicle battery that could provide a range of 500 miles on a single charge.

While a 500 mile range sounds wonderful, it also sounds a little ridiculous. Maybe it would be better to encourage a lower cost battery with a range closer to 200 miles and focus on quick charging stations. Lots of gas powered cars can’t even make 500 miles on a single tank of gas. So heck, why stop at 500. Why don’t they offer $100 million for a 2,000 mile range battery that sings Carmina Burana to you while massaging your back and doing your laundry?