The Implications of an All Electric Car IndustryNick Strite
Recently, auto manufacturer Volvo has looked to greener pastures by announcing the move to all hybrid and fully electric vehicles. In the face of competition like Tesla, Volvo, a Chinese-owned automotive group, said on Wednesday all new models will move to the fuel efficient or fuel free platform by 2019.
Volvo is the first major manufacturer to abandon the internal combustion engine. Hakan Samuelsson, president and chief executive of Volvo Cars, said in a statement that the move “marks the end of the solely combustion engine-powered car,” reiterating his target of selling one million electric cars and hybrids by 2025. “When we said it, we meant it. This is how we are going to do it.”
This move by the once Swedish made automaker marks the major beginning to an end for major auto producers. Auto manufacturers such as Honda, BMW, and Ford could be looking to move to an all-electric or hybrid fleet and this may be the tipping point.
Recognizing Beyond Trends
It is important as organizations move into the future to recognize the importance of utilizing green and environment-friendly products. The market has recognized that and so have the people, by example Tesla, which made 84,000 cars last year has surpassed the market value of Ford, GM, and BMW, which sell millions every year. Going green is no longer a trend it is a demand and the industry is now fully recognizing its value.
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