Electric Cars Research Paper Example | Topics and Well Written Essays - 1500 words

Electric Cars - Research Paper Example The company has completed designing the car but wants to increase its output. A rise in output can only be afforded, if the company makes a commercial plan that would help to market the product and make it a leading vehicle in the current competitive industry. The context of this research paper would capture the various details about the product, industry, potential market applications, challengers, risks and path of commercialization that would be useful for the company to make its product acceptable in the market. Product Description An electric car is an eco friendly car that runs with the help of an electric motor or battery stored electrical energy. The electric motors in such cars help to generate torque, thereby giving smooth and strong acceleration to such modern vehicles. Such cars emit less air impurities because they do not discharge tailpipe pollutants. Some electric cars are also powered by solar energy or gasoline, these cars are known as solar and hybrid cars respectively (Westbrook, 2001). Prototype Status The research paper concentrates on a four seating electric car. The car is produced by a Canadian automobile company and its manufacturing division is in Ontario. The car fully runs with electricity and comprises of all the features that a modern car should contain. However, the car is required to be charged every time its cell energy diminishes. The company manufactures only 75 cars per month at present but the figure is expected to augment up to 200 cars per month by 2014. Intellectual Property Status The intellectual property rights are legal rights that are catered to the automobile firms for discovering a new design of a vehicle. Such rights ensure that the state of technology or blueprint newly invented by a company is not copied by any other firm in the industry. A trademark can only be used by a Canadian company according to the norms of Canada. Thus, it is obvious that the Canadian electric car manufacturing firm will possess a trademark that would protect its product from forgery (WIPO, 2013). Industry Analysis Definition of your industry The automobile industry is an industry that comprises a large pool of organizations and companies. Such companies are engaged in designing, selling, manufacturing, marketing and developing motor cycles, mopeds, towed vehicles and motor vehicles. It is a long established business segment since 1890’s. Working and Prospects of the Industry Automobile industry is considered as one of the most important ind ustry in the current global economic system in terms of revenue. The biggest strength of the industry is its diversity; there are infinite companies that participate in automobile manufacturing. The industry stands 3rd in the Fortune 500 list and