Electric vehicles, or EVs, have fully entered the public consciousness, in large part because of the success and publicity generated by Tesla Motors’ Model S. However, investors should remember that the company’s sales are still measured in the tens of thousands per year — a mere drop in the bucket compared to sales by major auto manufacturers.
In other words, the EV is a long way from mainstream, despite the popularity of the idea. And for good reason, considering there remain challenges that EV makers must work through before the battery-electric vehicle really hits Main Street America. Here’s a closer look at three of those challenges, as described by three of our contributors.
Daniel Miller: Finally, gone are the stereotypical images of slow and impractical electric vehicles, thanks to Tesla’s Model S, which is probably closer to a Porsche than a Prius. On top of defying historical EV stereotypes, the Model S also gave consumers and investors reason to believe the auto industry’s age-old ways of fossil-fuel-powered vehicles could be entirely disrupted.