Electric and Driverless cars will be among the top 10 trends of the Next decade! Welcome to my blogs! Hoping to assist all readers who visit my site – I will be posting a series I’ll call PAUL’S 5 P’s blogs.

The purpose of the PAUL’S 5 P’s is to Prompt and Prod People to Prepare a Plan!

Of course, the original 5 P’s saying is supposed to be:

PROPER PREPARATION PREVENTS POOR PERFORMANCE

But I have re-defined this to be:

PROPER PLANNING & PREPARATION PRODUCES PROSPERITY

My Philosophy is simple.

I Provide information that I would want to know if our roles were reversed.

If you are a business owner and your focus is on Profits, then I would be Pleased to work with you Personally to Prepare your Plan to Prosper!

OK that’s a bit of fun, but here is the serious stuff…

 

So, on to the next topic today for the blog:

Here is a list of the Top 10 Trends that will shape the global economy for the next decade. Some of these are bullish and some may be bearish. The main point of the exercise is to understand why these trends are evolving and to work out how to PLAN, PREPARE and POSITION yourself and your business ahead of these trends and opportunities for maximum PROSPERITY!

In no particular order, here are the trends that I’ll be discussing in more detail over the next couple of weeks:

Electric and Driverless Vehicles

Fake Levitating Car

YouTube VW Levitating Car

Be sure to read this:

https://www.snopes.com/photos/technology/levitatingcar.asp

Unfortunately, the levitating car as shown, is 2012 ‘fake news’ but there is no doubt that with some imagination we will move towards cars that are much closer to this.

Autonomous Vehicles

Cars that drive themselves are already being made by most major manufacturers and being tested on public roads in many countries.

The biggest hurdle still to be crossed is not so much in the testing and use of the technology, but more in the regulatory space. Carrying passengers is still not allowed without a human driver hovering in the old “drivers’ seat” to take care of the car if the tech failed. In fact, most of the technology used is more safe than having a human there!

However, lawmakers will want to see serious safety procedures in place before they allow these cars on the road without a backup driver up front. There are also concerns over who is going to be liable for damage and injury in an accident when there is no driver. Also, to accomplish the complete transfer to driverless systems, cities and governments will have to update infrastructure to include improved connectivity capabilities that these vehicles will rely on.

Ford has said it will launch its own self-driving vehicles by 2021. Ford is in partnership with ride-share company Lyft and is already testing plug-in hybrid cars for moving goods for businesses through its partnership with Postmates Inc.

Ride-share company Uber recently placed an order for 24,000 Volvos that will become part of a completely driverless fleet.

The obvious goal is that personal cars will come off the roads and be replaced with ride-share (hail cab) options which could eventually make a big reduction in the number of road accidents, a huge positive impact on reducing pollution with less cars on the roads, and by using much cleaner electric powered cars.

Tony Seba, a Stanford lecturer, talks about the costs of disruption

Tony Seba's prediction on EV
Tony Seba prediction on cars

Even if the timeframes that Tony speaks of are ambitious, there is still much to think about:

The real news started a few months back. It began in September 2017 with the Chinese government decision to ban cars using fossil fuel.

China hopes that use of “cleaner” vehicles will go some way to fixing the enormous air pollution problem that is choking many major cities there.

Both the UK and France have announced plans to ban new diesel and petrol vehicles by 2040.

Norway and the Netherlands have been even more aggressive about the timing of getting fossil fuel vehicles off their roads.

The Global electric car revolution has just begun…

You see, EVs still make up just 0.2% of the global auto market today.

By 2020, Bloomberg says electric vehicles will make up 2% of the global market and that’s just the beginning.

Volvo owners Geely have said that all Volvo models will have electric motor options by 2019 and expects to sell 1 million Volvo EVs annually by 2025. Volvo aims to launch 10 more EV models by the end of 2018, and by 2025, it aims to have 30 EV models.

By 2030, EVs will account for 24% of the global market.

But, for this to happen, Bloomberg says the production of EVs will rise 30-fold by 2030.

With this explosive growth, China will command 40% of global EV sales.

It’s the world’s largest EV market by far. And yet, EVs make up just 1.4% of the total Chinese auto market.

In the Netherlands, EVs make up 5% of the market. In Norway, they’re 24% of the market.

So, it’s evident that this revolution is happening all over the world.

Major car companies have also jumped on board the EV revolution.

As Bloomberg reports:

China will likely order an end to sales of all polluting vehicles by 2030, BYD Co.’s Chairman Wang Chuanfu predicted, spurring the nation’s leading maker of electric cars to consider supplying batteries to competitors during the powertrain transformation.

Concerns over dependence on crude-oil imports will prompt authorities to come up with an aggressive timetable to phase out fossil-fuel powered automobiles, Wang told reporters in Shenzhen on Thursday. China, the world’s biggest auto market, may have all buses powered by batteries by 2020 and all other vehicles will follow suit by 2030, he said.

As Lithium is one of the major components in batteries today, market research firm TechSci expects the market for lithium batteries to grow nearly 17% per year over the next four years.

Although lithium is relatively abundant, there aren’t enough existing lithium mines to meet this coming spike in demand.

There are a couple of problems arising in meeting this demand. Firstly, we are going to have to build more mines faster than we thought, secondly, it takes a long time to turn raw lithium into lithium batteries (up to three years to turn hard rock lithium into batteries). And it takes seven years to do the same thing with brine, in another kind of battery.

Maybe – the solution for the demand shortage is going to be high prices – as the extra dollars attracts more investment and innovation to address the supply problem and provide some solutions….

Maybe car dealerships and insurance business models will suffer major disruption, and just maybe the global oil giants will have to re-invent themselves.

Positioning your business, and the services and products you provide, around major trends is key to your competitive advantage.

As always, spotting the opportunities ahead of the crowd and Preparing Proper Plans will Produce Prosperity for some.

 

I work with business owners to take their business to the next level, and there are three ways I do this:

Paul Manning is a Perth based Business Coach and the Local Director of The North Coast Business Network and works with business owners in that group, or one-on-one, to deliver rapid and lasting business improvement and readiness for business sale.

Business Coach, Business Advisor, and Leadership Mentor.

Partner with Perth Business Coach Paul Manning to build your Ideal Business.

My clients grow their businesses, fix their cashflow, get their life back and realize the full value of their business asset to keep or sell.

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