This note isn’t about all the companies whose news led to the five laws — i.e., Uber, Didi, Alphabet, etc. Instead, it is about the underlying shifts that make all this news possible.
Each of these shifts is, over the long term, is better for both humans and the environment. Mechanical cars have ~2000 parts and are only 20% efficient in converting energy. The rest is lost in heat. They also require 90% less repair and last 5–10x longer. Owned cars have a utilization rate of about 5% and human errors result in many lost lives. And, I don’t have to give you reasons for solar being a better source of energy than coal.
But, even if they’re obviously better, Bloomberg New Energy Finance (or BNEF) — one of the leading analyst groups on the energy market — still predicts a role, albeit much smaller, for the likes of coal and gas as far out as 2040.
BNEF is optimistic on the adoption of electric vehicles (Evs) in the next two decades. They predict that >50% of cars produced by 2040 will be electric.