By LUCY YU
The startup world likes to celebrate exciting new technologies, such as AI and autonomous vehicles. But these are newcomers to the party compared to the electric motor, whose precursor technology celebrates its 200th birthday in 2021. Yet today, mobility overwhelmingly runs on fossil fuels. Electric-powered vehicles have been confined to the wealthy, the geeky and the green – not sufficiently affordable, accessible or practical for everyone else. In 2021, startups and industry disruptors will proliferate, heralding a new era of e-mobility for all of us.
The driver for this is, of course, climate change. Over 77 countries and more than 100 of the world’s biggest cities have committed to achieving net-zero emissions. Globally, transport is one of the largest sources of CO2 and other greenhouse-gas emissions. Governments have imposed future bans on the sale of petrol and diesel-powered vehicles, incentivising more electric-vehicle purchases and taxing the most polluting vehicles, but investors are also keen to accelerate the global shift from pump to plug.
In January 2020, London-based startup Arrival became an electric-first unicorn, attracting sizeable funding from established automakers. Its light commercial vehicles, including buses, vans and delivery robots, will be assembled by a planned network of 1,000 global “microfactories”. In July, Tesla overtook Toyota to become the world’s most valuable carmaker, and Chinese electric-vehicle startup Li Auto raised over $1bn from its IPO.
Continue reading… “E-bikes and e-scooters will transform our cities in 2021”