The electric vehicle industry has certainly grown over the last 20 years or so and while the likes of Tesla continue to grab the headlines there is much more going on behind-the-scenes. Tesla's billionaire chief executive officer Elon Musk was asked this week about rumours that Apple is about to enter the electric vehicle market. So what did he say and what does the future hold for the electric vehicle market?
Competition is welcome
If you look at industries such as pharmaceuticals and tobacco you will see fairly a "closed shop", with excessive competition and many strategies which seem to lock smaller players out of the sector. While it would be wrong to suggest that the electric vehicle industry is not a corporate hot potato, with significant profits to be made in the longer term, entrepreneurs such as Elon Musk seem to appreciate the longer game.
When asked about rumours that Apple is about to enter the electric vehicle market, the billionaire chief executive officer was more than welcoming of yet another competitor. It is worth noting that Elon Musk is a man who announced that Tesla would not challenge those looking to use the company's patents "for the long-term good of the industry. It seems that this revolutionary entrepreneur billionaire can see the longer term picture emerging.
Quote from ElectricForum.com:- "Earlier this week Tesla chief executive officer Elon Musk was asked about rumours that Apple is about to enter the electric vehicle market. Bearing in mind that he is very close to the management team at Apple, his quote, "I certainly hope Apple gets into the car business. That would be great", Should not be ignored. "
Is Apple right for the EV market?
While Apple is well known for its iPhone and its iPod this is a company which has been groundbreaking in many of its technologies. When you bear in mind the company has an enormous cash pile from its ongoing operations, it is perhaps no surprise to learn it is starting to look elsewhere. The electric car industry has had a number of false dawns but massive investment by corporate entities and governments around the world has meant a very different environment today.
We can only imagine the kind of new approach and new technology which Apple would bring to the electric car market. Indeed there were rumours just a couple of years ago that Tesla would eventually be incorporated by Apple due in the main to the very close relationship between the two management teams. Tesla with its groundbreaking technology, Apple with its appetite to venture where others fear to tread, and the company’s enormous cash pile made rumours of a merger seem quite sensible.
Even though there will always be competition amongst companies operating in the same industry, over the last few years we have seen more cooperation between electric vehicle manufacturers and retailers. This has seen new technologies developed at a faster pace than we normally see in new industries and a greater degree of togetherness amongst the entrepreneur led companies as opposed to the traditional car companies such as General Motors.
It will be interesting to see whether the likes of Apple do eventually tread into the electric car market and what they have to offer. Time will tell but the introduction of a new competitor in the shape of Apple would certainly do no harm to the sector.