Analysis of the Electric Vehicle Industry

Of all the oil consumed in the U.S., 70 percent is used for transportation. Further, passenger vehicles use 70 percent of transportation oil. This type of demand represents both a challenge and an opportunity to capitalize on new vehicle technologies, and in the process, reap substantial economic development benefits. In a world where oil is a limited resource, an alternate source of transportation fuel – electricity – is not only a smart investment, but as some would say, it is an inevitable one.