With Tessa leading the electric car market, more tech giants will join the smart car revolution faster than expected. As you can read from the various news.
The pressure is on the 138-year-old global auto industry, how many will be left over while the world transitions into smart cars. You can recall cell phones to smartphones, traditional watches to smartwatches, what happened then. Most of the existing players are falling, except those adapting for the new revolution.
Apple has been investing in it for sometime, and rumors for the first car in the market by 2024. Recently we saw Xiaomi is also making the move. If smartphone companies can produce such a micro precision tiny device, how difficult would it be for them to do full size car vehicles? Baidu, Alibaba make similar moves, and more is announced to join the smart car revolution.
New generation of cars which feature silent battery power and autonomous self driving, completely outperform last generation. This is why the pressure is on the existing automobile player too, how they transit and need to compete with the new player. Auto supply chains will fight for the new standard and component, as those who win the standard will have the mass economy of scale production too.
Is it time for you to buy or replace your existing car? If yes, what will you do?
Do not underestimate the impact of the smart car revolution and think it is not related to your current sector and industry. Without further reimagination, century old steam engine based automobiles depend on petrol and fuel to power. If the world transforms into electric vehicles based on battery power, more related industrial applications will follow, as the environmental policy compliance to do so. As such, the energy sector in particular for those dependent on the oil mining and petrol and gas, and the entire distribution chain will for sure impact without doubt. Another sector and industry is transportation, as the new smart car features self driving, it will impact for the long term manpower needs, as with proper use of the new technology, it can be automated and again where robotics with AI is full of potential to contribute. All of the above mentioned is just one portion of the mega change as we mankind transit to the fourth industrial revolution (4IR) industry 4.0. Are you ready for it?
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