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Electric Cars — Manufacturers Missing the Boat
New Technology is Disrupting the Automotive Industry
New technologies routinely disrupt industries when they are introduced to the market. In the 1990s, the internet created widespread disruption and toppled corporate giants while giving startup companies an opportunity to jump into markets that had long been closed.
One of the prime examples of marketplace disruption happened when Sears department stores failed to modernize their catalog system and adopt the internet. In hindsight, Sears was Amazon. They had a catalog, distribution and an established customer base. Technology provided an opening and their competitors took their business.
What does this have to do with electric cars? New technology has entered the automobile market place and new ways of doing business have popped up. One of the biggest examples of this is Tesla’s decision to sell directly to consumers rather than utilizing dealerships.
Another big shift that EVs have created is the understanding of what consumers have decided…
