There is no doubt that the electric car market is here to stay but who will benefit most from this growing sector? There is some debate as to whether the old automobile companies or the new technology groups will benefit most in the future, creating an interesting topic of discussion. If you take a step back and look at the situation from a distance, it is certainly an intriguing scenario.
As we have mentioned in the past, many of the automobile companies of years gone by failed to grasp the electric vehicle nettle quickly enough. While we have seen some of the mainstream automobile companies waxing lyrical about electric vehicles, in reality not all of them have delivered. In some ways they are also suffering from the ever improving technology relating to the look, feel and the materials used in creating an automobile today. How can they improve the aerodynamics? Have they now arrived at the most robust and safe materials to use?
This is a very interesting topic of discussion and one which will inevitably polarise different groups who have different opinions. In some ways the automobile giants of years gone by have been too slow off the mark and may well suffer in the short to medium term unless they “up their game”.
We only need to look at the likes of Apple and Google entering the electric car market to highlight the ever growing competition to create a mass-market affordable high spec electric vehicle. These are companies that have held back from any major public announcements regarding electric cars, perhaps waiting until others had put the industry on the map. Like we suggested above, it may well be that the basic construction of a vehicle itself is approaching “perfection” and perhaps there is more scope to improve the technology around the driving experience?
Companies such as Google and Apple have huge financial pockets and if they have decided this is the market for them in the future then it will be a battle with the automobile companies of years gone by.
Is the answer not already staring us in the face?
Tesla is a name which is synonymous with the electric car market; with its chief executive officer Elon Musk literally taking the bull by the horns and dragging the sector forward. There is some speculation that the likes of Apple and Google may be direct competitors for Tesla but in many ways the company has all angles covered. We have seen an array of new and innovative designs from Tesla, we have seen improvements in battery technology and now journey capacity is growing.
Even though many experts have highlighted a potential threat to Tesla’s star rating, the fact is that the company feeds on competition and will respond in the correct manner. The old adage that 'first to market will fail while those following will succeed' could yet turn out to be true but those who write off Elon Musk and his team at Tesla do so at their own risk!