Whichever way you look at, there has been a massive increase in the number of electric vehicles and complimentary products released into the marketplace over the last few weeks. There is now growing suspicion that a number of EV manufacturers, and electric car charging companies, have been holding back products and services until they deemed the market was open to new ideas and new products.
This may seem a little bizarre when you consider that the EV businesses will want to see as quick a return as possible or on their investments but every day now we see new products and new services being released.
Innovation comes to the fore
While the Tesla Model S certainly caught the headlines when released earlier this year we have also seen BMW introduce its first mainstream electric vehicle, Chevrolet look to reduce the headline cost of its vehicles and earlier this week we saw the introduction of a foldaway electric car. At this moment in time there is a constant flurry of new innovations and new products to the marketplace and while they are catching the headlines today we can only hope the industry does not run out of steam.
In reality many of these products and services have been awaiting the right time and the right place to launch and when you bear in mind the major media coverage afforded the electric vehicle market at the moment, today most certainly is the right time!
Quote from ElectricForum.com : “While the vast majority of automobile manufacturers have some kind of presence in the EV market do you think there are any big names missing?”
Competition is good
Interestingly, despite the fact that the electric vehicle industry is yet to crack the mass-market, we have already seen competition with regards to the headline cost of vehicles. We’ve also seen a significant reduction in leasing costs which is helping to put more electric vehicles on the road which in themselves are promoting the industry going forward.
There is some debate about whether now is the right time to introduce price competition when in reality EV manufacturers, and associated operations, really need as much liquid capital as possible to invest in the short, medium and longer term. Is there really any sense in cutting the price of vehicles today at the expense of the research and development capital of tomorrow?
While there are very few days you can look on the Internet and not see a flurry of headline stories about the electric vehicle market, the industry itself does need to maintain this momentum going forward. There is no point having a raft of news stories and new products hitting the market only for this to dry up, interest begin to wane and the industry begin to stall. It is vital that all elements of the electric vehicle industry pull together, look to the future and even if there needs to be some collaboration with regards to the timing of news releases, this would not be the end of the world.
The industry, as we see it today, has never been as popular, has never been as close to the mainstream market and with new innovations on a regular basis, there would need to be some major setbacks in the short term to break the momentum going forward.