Entrepreneurship Feb. 21

In what areas of the industry are there opportunities for innovation?

Since today’s world is crazy about saving energy and cutting down on emissions, most car industries are trying to develop Hybrid models or fully electric cars that will attract customers. Every car company is working on developing a power saving car that is both affordable and luxurious. One big example is Toyota’s Prius starting at $23,050. Another example is Honda Insight with starting price of $18,200. According to http://www.hybridcenter.org/hybrid-timeline.html, in 2010 there were 18 hybrid cars on the market and 14 companies that manufacture them. Compared to any previous year, 2010 has produced the most Hybrid cars because of the trend of customers seeking echo friendly ways to live.

There is also other ways that car companies are trying to innovate their vehicles and to attract more customers. One very important way is censors that can cense cars hitting their breaks in front of the car; they can also monitor facial expressions in order to tell if the driver is sleepy and warn them to pull over. The technology has gotten as far as having cars being able to detect objects that are not moving and react before the driver does. Other types of sensors include: windshield wipers that can detect the amount of rain and adjust to the right speed without the driver’s interaction, there are also smell sensors that will close the outside intake of air when there is a bad smell and so on.

Overall car companies are trying to attract people to their cars by making driving very easy and luxurious.

Sources:

http://auto.ihs.com/news/newsletters/auto-nov04-automotive-innovation.htm

http://www.toyota.com/prius-hybrid/trims-prices.html

http://automobiles.honda.com/insight-hybrid/

http://www.hybridcenter.org/hybrid-timeline.html