True, and Tesla has been the biggest disruptor. But barriers to entry are huge, and regulation really clamps down on "disruption".
You know all those awesome concept cars you see at car shows that never get built? One reason nothing revolutionary comes out is that the industry is regulated to the max. Much of it is "safety" features, which may be well and good, but much of those "safety" constraints are arbitrary. But there are laws about everything from the shape of the steering wheel, to how far apart headlights need to be, and the CAFE standards pushing for fuel economy limits how cars have to be designed and built, as the companies need to squeak out every last mpg on the car.
You know all those awesome concept cars you see at car shows that never get built? One reason nothing revolutionary comes out is that the industry is regulated to the max. Much of it is "safety" features, which may be well and good, but much of those "safety" constraints are arbitrary. But there are laws about everything from the shape of the steering wheel, to how far apart headlights need to be, and the CAFE standards pushing for fuel economy limits how cars have to be designed and built, as the companies need to squeak out every last mpg on the car.