One way that automakers may try to reinvent themselves in the near future is through electric-vehicle manufacturing. President-elect Obama has indicated his interest in seeing manufacturers produce up to 1 million plug-in vehicles during the next two years. Some industry analysts expect the federal government could become a major buyer of these vehicles which may lead the way to market growth.
Several variables have prevented electric vehicle manufacturing from growing quickly:
- The high cost of battery technology
- The lack of a suitable infrastructure to allow users to recharge
- Non-renewable resources are used to create electricity necessary to recharge batteries
As these variable are overcome and more firms invest in technologies to improve the electric vehicle industry, marketing opportunities may surface in battery technology and electricity generation as well as vehicle manufacturing. Remind your clients in these industries that your agency can help them to succeed.[Sources: White, Joseph. "Electric-Car Makers Also Need a Hand," Wall Street Journal, 12.09.2008; PriceWaterhouseCoopers release, 11.19.2008]