Chinese consumers bought more than 200,000 inexpensive, low-power, low-speed electric vehicles in 2013, almost 4 times the cumulative production (through 2014) of Tesla, the maker of high-end, high-performance electric cars. Low-speed electric vehicles, some of which even have amenities such as power steering and air conditioning, represent a disruptive innovation that has been ignored by the mainstream. It’s a category that is growing rapidly, because in emerging markets like China these vehicles represent a good alternative to mopeds, bicycles, buses, or walking – and they’re exempt from expensive licensing and registration fees, Thomas Bartman writes on HBR.org.
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