The power of oil!
Even though it would be wrong to suggest that the supply of oil around the world is currently at dangerously low levels, there is no doubt that eventually (some predict over the next 50 years) we will see oil supplies around the world fall substantially and a growing need to depend more upon alternative energy sources. As a consequence of this particular development the electric car market is certain to become more popular around the world with many believing that ultimately the electric car market, and other eco-friendly powered vehicles, will smash the monopoly currently held by the petrol/gasoline market.
In readiness for this eventual occurrence it seems as though some of the oil rich countries of the world are now looking to invest into the electric car market as a future hedge.
So what exactly is going on?
While the name Tesla Motors continues to grab many of the headlines in the electric car market it is a little-known fact that back in 2009 luxury car manufacturer Daimler acquired a 10% stake in the business. The two car companies have been working together on technology for the future and there are plans for the introduction of Daimler electric Smart cars in the short to medium term. However, it looks as though Tesla Motors has attracted the interest of Middle Eastern investors who are interested in becoming involved in the operation.
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How will the authorities tax electric cars?
As we covered in one of our earlier posts the idea for electric vehicles has been around for nearly 100 years although there has been limited progress prior to the last decade. When you consider that the more traditional petrol and diesel powered vehicles cause harm to the environment, use up vital natural resources, can be expensive to maintain and are dominated by the cost of oil, surely there must be a reason why electric cars have not taken off?
There are many conspiracy theories and ideas as to why the electric car market has yet to take off, all of which ultimately boil down to money and government budgets. So why exactly have electric cars failed to take off as yet?
Government budgets
When you consider that the UK government, as an example, earns billions upon billions of pounds a year in taxation on petrol and diesel it is not difficult to see why there has been some apparent unease at the introduction of electric cars. Literally overnight governments around the world could see billions upon billions of pounds wiped off their annual budgets forcing them to find new ways to tax the public and businesses to make up for potential shortfalls.
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