How Does The World View Electric Vehicles?
Taipei-based Digitimes reported on global trends in the electrical vehicle market Wednesday.
The report suggested that all-electric vehicles were “ready to change the motor vehicle industry” as the technology had matured.
From the report’s perspective, large auto manufacturers were reluctant to enter the market due to existing investments in fuel-based engines.
Newer companies, such as Tesla Motors Inc (NASDAQ: TSLA), did not have the legacy costs with the “burden of dealing with old technologies and investments,” making newer manufacturers “eager to enter the market.”
High-end electric vehicles, such as Tesla models, were seen as focused on performance and the introduction of autopilot technologies.
The report noted that Tesla’s Model S P85D “has a partial autopilot function which works with radar set in the front of the vehicle and sensors to signal, detect road lines and traffic lights. The vehicle has 360-degree sonar to detect objects around the car such as pedestrians. The autopilot function can detect signals, pedestrians, and moving targets, and achieve cruise control, automatic breaking, and automatic parking.”
The report commented that Google’s technology relies on Artificial Intelligence and faces some barriers to commercialization, making Tesla’s autopilot more commercially viable for mass production.
In terms of getting these new technologies in the hands of consumers, the article advocated that governments subsidize the costs of developing the electric vehicle market due to the amount of investment required.
Additionally, “government policies should accommodate and promote changes, such as by limiting the number of vehicles on the road, tax breaks, subsidies and benefits. Also governments should fine and control fuel-powered vehicles that cause pollution. With the necessary infrastructure and government policies, the market will push vehicles that cause pollution out of the market and turn to hybrids or all-electric vehicles,” according to the article’s authors.
Without sufficient subsidies, the report concluded, the incentives would be too limited for consumers to make the switch to electric vehicles.
Tesla Motors recently traded at $206.69, up 1.69 percent.
Google recently traded at $542.26, up 0.98 percent.
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