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Entrepreneurs Must Take Advantage of Electric Cars Revolution

China’s largest cities including Beijing and Shanghai now boast of all-electric buses. And pretty soon, China will become the first country that will run all-electric automotive. This will be quite an achievement for a country which is widely regarded as one of the most polluted countries in the world. This is really a big opportunity for all the electric car makers in the world and a big opportunity for several entrepreneurs too who are looking to start several businesses related to the automotive industry.

Below is the list of 4 major types of industries that will benefit from the use of electric cars in not just in China but all over the world. So if you are a person aspiring to become an entrepreneur related to automotive industry, this blog will help you a lot in getting a foothold in the industry of your choice. Please note that all these industries require a big investment or capital up front, so if you are certain you can secure such funding, only then think of stepping in this field.

1. OEM Industry

While some big car makers manufacture majority of the parts of their cars themselves, original equipment manufacturers (OEMs) provide their service to majority of car makers around the world. They provide car manufacturers seats and door handles. With the advent of electric cars, there are altogether new needs of car manufacturers as they are trying hard to make cars in different sizes and models according to the demand of their target market.

So if you are trying to get into the OEM industry, this can be a big opportunity for you.

2. Rubber Fabrication Industry

The second major type of industry supplying automotive industries raw materials and goods is the rubber fabrication industry. They specialize in various items like tires, belts, hoses, wiper blades and seals. A quick fact for you; about 75% of the world’s natural rubber production goes into making tires. You can guess quite easily that this industry is also going to rock in the coming years as more electric cars will be in production along with conventional cars, although the production of the latter will considerably reduce over the next few years.

An advice for aspiring entrepreneurs in this concern; keep in mind that the running a company in the rubber fabrication industry is not easy. You may endure overwhelming workload concerning the management of the employees, contractors and clients. So think twice before entering in this field.

3. Aftermarket Replacement Components Makers

The third major area is related to the parts that are needed once the car is sold. Components such as parking lights, brakes, clutches, air filters, etc. are regularly needed by the people using conventional or electric cars. Managing this industry can also be hectic with managing employees and their performance a huge task. Using a task management software for productivity enhancement can act as a catalyst in successfully tackling the problems faced by the top management of any firm in this regard.

4. Electric Batteries

Different types of electric batteries are currently being used in the electric cars. With the rising demand of big and efficient batteries for electric cars, this industry can benefit the most from the rise of electric cars. Car manufacturers such as Tesla and Toyota are already making huge effort in gaining the lion’s share of the market from each other. That’s the reason why there is huge potential for an entrepreneur entering into the electric battery making industry. But you should consider several aspects including the capital before venturing into this field.

Feel free to comment below and tell me what you liked or disliked in this blog so that I can improve it further.

This was posted in Bdaily's Members' News section by anwer .