In the auto industry, the biggest buzz concerns the electric car market which is slowly getting attention. The 2016 Consumer Electronics Show played as the major stage for prominent auto companies in launching their respective electric car models. Volkswagen, Ford and General Motors have all unveiled their own electric car models in CES.
A handful of car models unveiled at the 2016 CES are prototypes and concept cars. This means that these cars will not be able to hit the road until around two years later.
On the other hand, General Motors have launched the Chevrolet Bolt at the 2016 CES. The car boasts excellent mileage without the hefty price tag.
In a statement acquired by Taipei Times, Kelly Blue Book analyst Akshay Anand said, "EVs will play a bigger role in the automotive future - there's little question about that. The Bolt is a big step simply because of its price and range."
According to Phys, many motoring enthusiasts agree that the most attention grabbing announcement was made by Faraday Futures when it unveiled the FFZERO 1 concept car. The company also revealed some of its plans for the future, which includes building a manufacturing plant in Nevada, a project priced at $1 billion.
German automaker Volkswagen unveiled at the 2016 CES the BUDD-e. The van sports the classic façade of the Volkswagen Kombi, the only difference is it runs on electricity and has a clear vision of becoming a connected car.
Volkswagen, which is plagued by the massive emission tests scandal, claims that the BUDD-e should be ready to hit the road before the end of the decade which is four years from now at most.
On the other hand, Ford expressed its intentions and commitments toward the electric car market. The company is planning to invest $3.5 billion within the next five years for the development of its own electric car. Ford said that by 2020, the company should be able to produce at least 13 new hybrid or electric vehicle.
In 2015, electric, hybrid and other alternative fueled cars have slowly rose to prominence. However, in the latter part of the year when gas prices began to drop which also affected the sales performance of the market.