The building and developing of electric/hybrid cars is coming to a screeching halt. GM announced they are closing the plant that makes the motor for their electric car, the Chevy Volt. Tesla Motors, another electric car company, fired their CEO. Toyota is stopping construction of a Prius plant in the U.S. and THINK, an electric car company in Norway, is on the edge of failing.
One country is moving forward: China. BYD will bring a plug-in hybrid to market years before the Chevy Volt. GM assures the market, however, that they will still roll out the Chevy Volt on schedule.
Key Themes Behind This Trend
- Electric Car Slowdown
- An opportunity for entrepreneurs to create better and cost-effective batteries and alternative energy sources to power electric cars.
- Chinese Hybrid Car Expansion
- An opportunity for global car companies to learn from Chinese hybrid car technology and partner with established Chinese car makers to bring similar products to other markets.
- Rise of Non-traditional Car Companies
- An opportunity for new entrants to capitalize on the financial struggles of established car companies to introduce revolutionary products and capture market share.
Where This Applies
- Energy Storage
- The energy storage industry can develop more efficient and durable batteries for electric cars to improve vehicle range and reduce production cost.
- Automotive
- The automotive industry can partner with innovative startups to introduce new electric and hybrid car technology to the market.
- Alternative Energy
- The alternative energy industry can provide cost-effective renewable energy sources for electric cars to make them more economical and eco-friendly.
