How Electric Mobility Will Be The Next Disruption In The Transportation Industry?
The latest wave of transformation in transportation is being brought by electric mobility and a rise in sustainability-led shared economy
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As an industry, transportation has observed several key disruptions since the evolution of the civilization. From horses to carts to the emergence of automobiles, the transportation sector has undergone many transformations, with each change bringing about newer efficiencies and cost savings. And yet again, transportation as a discipline stands at the cusp of disruption. The latest wave of transformation in transportation is being brought by electric mobility and a rise in sustainability-led shared economy.
To understand how electric mobility will disrupt the transportation industry, it is important to realize that disruption truly takes place when technology is aligned with the business model to invoke synergies that gives rise to newer solutions. The resulting solutions, furthermore, should solve the challenges that the current generation is grappling with, in order to create bluer oceans or uncontested market opportunities.
One of the shining beacons of this disruption is ride hailing. It amalgamated the latest technology comprising smartphone, mobile apps, and cloud infrastructure, with an innovative business model, presenting the world at large a distinctive way to travel. And since mobility touches billions of lives daily, it’s not surprising that worldwide the top cab hailing startups are all valued in billions with Uber being at the helm. 45 million trips a day are done between Uber and Didi Chuxing together. But single user driven cars and single passenger driven cabs are a bane to society and nature as it increases both pollution and traffic in cities. We should realize that we live in one of polluted cities of the world as published by a recent study.
However, the next wave of disruption is led by electric and sustainable mobility. The technological advancements in the electric vehicle design and manufacturing, coupled with the new battery capabilities are together poised to disrupt with “new mobility” options.
Batteries like Lithium-ion are one of the key enablers of this disruption. It has reduced the cost of fuel for vehicles and it also offers energy conservation benefits. Besides, with Li-ion, different players have come up with detachable and swappable batteries, and hence, reducing the range and charging anxieties often attached to the EVs. While detachable batteries are easy to charge, one can also carry a fully charged battery and swap the same while covering longer routes.
Furthermore, the current engineering is reducing the cost of owning an electric vehicle. As per projections, EVs are going to cost 20% lesser while buying and 10 times lesser in maintenance by 2025. By offering double the lifetime mileage in comparison to the vehicles deploying combustion engines, EVs are rightly helmed as the future of mobility and transportation.
The true disruption and adoption of electric vehicles will be propelled by the smart and shared mobility solutions. India has already warmed up to the ride sharing model. And the model can be used to mainstream the adoption of EVs, especially e-bikes and e-scooters. When combined with the advancements in the Internet of Things and geo-fencing, e-scooters fitted with IoT locks can be hired from anywhere by only scanning a QR Code and parked in the vicinity upon the completion of rides.
The model will disrupt short-mile connectivity, which is also the most hassled leg of commute. If these e-scooters are available across the metro stations and other key hot-spots in the city, everyday commuter can simply hire the same to reach their offices, colleges, or back to the metro stations. In US alone, between 2 companies, there are millions of e-scooters running solving micro-mobility for millions daily. When applied on a large-scale, the model will not only reduce the traffic congestion on road by offering the similar convenience of a personal vehicle but also will reduce the dependence on the elaborate parking infrastructure and the carbon footprint.
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