Back to the complete issue
Tuesday, 23 April 2019

The emerging cars of the future — but will they actually save the planet?

The emerging trend in the auto industry is promising “electrification, automation, and connectivity,” with more and more players racing to reinvent the wheel, Nick Stockton writes for Wired. Rivian, founded in 2009 in Florida as Mainstream Motors, is attempting to combine elements from both the old and the new. It involves licensing an all-electric engine, dubbed the “skateboard,” to other makers to build cars on top of it, much like Karl Benz did when he successfully fired the world’s first practical vehicle. The latter part, meanwhile, involves using skateboard in-house to access a largely untapped part of the EV industry: luxury pickup trucks.

Rivian is but one of many non-traditional players in the EV market: Last January, Reuters predicted that companies like VW will invest some USD 300 bn in EV tech over the coming 5-10 years. A significant chunk of this will go into direct partnerships with lesser-known, slightly unorthodox companies that are all-in for future auto industry tech. GM acquired autonomous vehicle company Cruise, Amazon invested USD 700 mn in Rivian, and Alphabet, Apple, Uber, and Cisco all have their “car-of-the-future” spinoffs.

Before you rush to by your electric car thinking you’re helping to save the planet: A recent publication by a trio of experts Germany’s Ifo Institute suggests that electric cars may not be quite as clean a form of transportation as we thought. Taking into account CO2 emitted during the production process, the scientists believe that EV’s may in fact be more polluting than their diesel equivalents, potentially leading to between 11-28% more emissions in the future.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.