The Future of Electric Vehicles

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The Future of Electric Vehicles

Electric Vehicles have not yet reached a point where they are common technology. We are currently a nation that is centered around a devasting technology that has little benefit for the future. For the past century electric vehicles have remained out of the market due to a lock-in that the internal combustion engine created. Furthermore, in order for electric vehicles to be successful they must break this lock-in. For this to happen, changes have to occur within three different aspects: the national system of innovation in our country, the supply of technology and the demand for that technology.

The lock-in occurred very early in the 19th century. It was a result of the petroleum industry creating a web of infrastructure. This web started to invoke certain attributes that further strengthened the lock-in. The lock-in occurred in both an organizational aspect but also in an increasing returns aspect. Our nation became devoted to petroleum and the products that come from it. Politicians are run by oil money and people have put all their trust in the internal combustion engine. Also, because of the lock-in the industry was able to create increasing returns, scale economies, and the possibility for high levels of learning by doing. These things put together have brought huge success to automobile companies over the years and allowed them to maintain their huge market share. Electric vehicles could enjoy this same success if they were able to...

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