Will the electric car ever takeoff?
As the price of oil continues to move higher and higher with the cost of petrol following a similar path, there is speculation that governments around the world could decide to move into the electric vehicle industry with significant investment and tax incentives. This is not the first time the electric car industry has been suggested as a possible offset against the ever increasing price of oil but over the last few months we have seen worldwide markets held to ransom by speculators.
Despite the fact that electric cars are cheaper to run, more environmentally friendly, need less maintenance and are highly efficient, the industry for one reason or another has just not taken. There has been speculation for some time that governments, oil companies, oil producers and car manufacturers have deliberately held back from promoting the sector. While this has always been refuted by those companies and those individuals under the spotlight, there is no doubt that in a perfect world the sector should have been more developed than it is today.
As oil stocks round the world continue to decline the need to find a new power source for the transport sector becomes more critical, with electric still by far and away the favourite.
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