The electric car market is poised for growth in the coming years because of the focus on global warming [VIDEO]. Automobile giants all over the world are pulling out all stops to outdo one another in the race for supremacy. Kalashnikov, the makers of the famous AK-47 assault rifle, has entered the scene. They have displayed a prototype of the CV-1 at an event in Moscow and feels the company could be a competitor to other existing brands. The design drew inspiration from a Soviet hatchback of the 1970s.

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The BBC reports that the CV-1 features several "complex systems" with technology that would be comparable to similar electric cars on the market like Elon Musk’s Tesla.

The Russian company wants to be considered on a par with established manufacturers.

Kalashnikov eyes a part of the pie

The CV-1 being developed by the Russian rifle manufacturers is still in the prototype stage and was displayed at an event in Russia. Kalashnikov is eyeing a part of the pie with its electric car. Its design is not yet finalized, hence its cost cannot be assessed.

Incidentally, Kalashnikov made a name for itself by its assault rifles and now wants to diversify its range of products. It is exploring various options like a clothing line and an assortment of items like umbrellas and smartphone covers.

Its entry into the market of electric cars is probably an attempt to edge its way onto a branch that is expected to pay rich dividends due to the focus on efforts to check global warming by using alternatives to fossil fuels.

Impact of Kalashnikov‘s car unpredictable

According to CNN, the concept of an electric car was unveiled at a Russian arms show by Kalashnikov, the producer of the AK-47 rifles. The manufacturer has high hopes for its CV-1 and says it can Travel around 217 miles on a single charge and will have a fast rate of acceleration. The company has experience in making military vehicles and wants to compete with established names like Tesla. However, in the opinion of an expert, the design of the car "would only appeal to a limited number of buyers."

The company needs to get the support of the domestic market to make it a profitable venture. Moreover, conventional fuel is relatively cheap in the country and the government will have to take a relook at subsidies for electric cars to encourage buyers to go in for this new-age vehicle. The initiative that Kalashnikov has taken is praiseworthy in the context of global warming.