What are the major challenges facing the automotive vehicle manufacturers and product industry with the introduction of electric vehicles into the consumer market?

What are the major challenges facing the automotive vehicle manufacturers and product industry with the introduction of electric vehicles into the consumer market?
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answer:It’s creative destruction, as applied by Schumpeter. The automotive industry is huge. There are thousands of companies the average consumer knows nothing about, but that play a vital role in the design and manufacture of a car. Some of these companies would have to either adapt themselves or disappear, since the parts needed for an electric car are quite different from the ones used in a conventional car. For instance, some of the equipment (in some cases entire plants) used would be rendered obsolote. Evidently, it will be negative for the companies that cease to exist, but the overall effect would be positive. Innovation is good, particularly if it benefits the environment.
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