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July 22, 2019 | McKinsey: Autonomous, Electric Vehicles will Change the World

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

A new report from McKinsey & Company concludes that autonomous driving and vehicle electrification are the next big shift in human mobility and will change the world.  See Automonously driven, electric cars will change the world, McKinsey says:

“When we think about the next inflection point of mobility we think we’re really at the point where the change we’re going to see right now is almost as big as the change we saw when we went from horses to cars. And I think it’s not one trend that is shaping that individually, but it’s really a couple of trends coming together.”

Those two trends are vehicle autonomy and electrification, both of which are experiencing steady progress, according to McKinsey. That pair are accompanied by the marked trend to increased connectivity and a move to vehicle- and ride-sharing. Recent McKinsey & Company studies have found that among auto manufacturers, original equipment suppliers, tech giants and startups combined, more than $325 billion has been invested in these four inter-related technologies since 2017.

Also see: Demand for electric cars has grown slowly. But the tsunami is coming.

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July 22nd, 2019

Posted In: Juggling Dynamite

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