By 2025 we’ll see:
“Cities will ban human drivers once the data confirms how dangerous they can be behind a wheel. This will spread to suburbs, and then beyond. There will be a “mass stranding of existing vehicles”
“The value of second-hard cars will plunge. You will have to pay to dispose of your old vehicle.”
No more petrol or diesel cars, buses, or trucks will be sold anywhere in the world within eight years. The entire market for land transport will switch to electrification, leading to a collapse of oil prices and the demise of the petroleum industry as we have known it for a century.
This is the futuristic forecast by Stanford University economist Tony Seba. His report, with the deceptively bland title Rethinking Transportation 2020-2030, has gone viral in green circles and is causing spasms of anxiety in the established industries.
“The cost per mile for EVs will be 6.8 cents, rendering petrol cars obsolete. Insurance costs will fall by 90 per cent. The average American household will save $5,600 per year by making the switch. The US government will lose $50 billion a year in fuel taxes. ”
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“Countries that fail to lead or make a transition to TaaS will become the 21st century equivalents of horse-based countries trying to compete with economies whose transportation systems are based on cars, trucks, tractors and airplanes”, concludes the RethinkX report.