Electric vehicles

Freelancer writer Alice Body writes: The wheels aren’t just turning on the electric vehicle (EV); the whole industry is accelerating thanks to a major new initiative by the Chinese government. Officials are planning on completing no less than 10 million electric parking spaces by 2020, Beijing Automotive Industry Holding Co’s (BAIC) president Wang Dazong revealed last week.

The plan coincides with other incentive actions by Chinese policymakers that will not only help free China from its dependency on foreign oil and lighten their carbon load, but will also further bolster their economic position in a world with dwindling oil supplies. Australia, take note.

AUSTRALIA'S car industry seems to be travelling well, but serious challenges are just over the horizon. British entrepreneur Richard Branson recently predicted that oil would reach $US200 a barrel by 2015.

This would have big implications for Australia's three main car makers that specialise in petrol-guzzling rear-wheel-drive vehicles. How will the industry cope with a big drop in demand for such cars?

The upward trend in electric vehicle production and demand - which will increase along with oil prices - is the key to future-proofing the Australian car industry.