In many developed cities, young professionals are eschewing car ownership in favour of public transport. City governments are also actively discouraging car ownership by introducing congestion charging, tolled roads, and high parking rates.
The recent COVID-19 crisis also highlighted the idea of a renewable energy mix – one which doesn’t rely so much on fossil fuel. Tesla’s electric cars – with their technologically advanced brains and revolutionary electric motor – is selling not just cars, but a vision of future motoring.
With the vast majority of cars on the road running on polluting oil, what does the future hold for the automotive industry? And where does this leave SMEs?
A DIFFERENT SORT OF DISRUPTION
Tesla’s ‘disruption’ of the automotive industry is only one dimension of it. Instead, automakers are disrupting themselves from within.
The ‘disruption within’ isn't about cheap, small, fast. It's not about catching the industry off-balance and ill-prepared to respond. It is about big companies that have a lot of money recognizing that they can spend literally billions to attack a new business opportunity.
Automakers were already making their cars smaller and more fuel-efficient since the dawn of the millennium, but current leanings and consumer appetites are accelerating the trend. Compact, turbocharged engines (so fuel burns cleanly) are the order of the day, as are continuously-variable transmissions (CVT) that are far more fuel-efficient than conventional manual or automatic gearboxes. Even German luxury stalwarts Mercedes Benz and BMW are introducing thrifty V6 engines in their lineup, instead of thirstier, more traditional V8 or V12 powerplants.
هذه القصة مأخوذة من طبعة October 2020 من SME Magazine Singapore.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة October 2020 من SME Magazine Singapore.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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Live Werkz: Venturing Beyond Southeast Asia
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Singapore's Go Digital Well Received
More than 78,000 of Singapore’s SMEs have participated in the country’s Go Digital programme since its 2017 launch, with more about 40,000 becoming participants last year, including 30,000 that received Covid-19 incentives from the government.
Accountants And SMEs: Creating A Sustainable World
For SME finance professionals, ‘sustainability’ is about achieving longevity. However, there is a confusion over different definitions of sustainability. They recognise the growing importance of tackling sustainability issues but lack the understanding of how doing this can be integrated into day-to-day practices within the finance function.
Rebuilding Our Mental Well-Being In Sales
Sue Barrett is a writer, training provider and entrepreneur who founded Barrett in 1995 to positively transform the culture, capability and continuous learning of leaders, teams and businesses.
Omicron: A Test Of Resilence
Global manufacturers have been facing a supply chain crisis since the start of the year. Just as it appeared that the situation was beginning to stabilise, the Omicron Covid variant reared its ugly head.
Silver Lining In The Cloud
Although RAS Security Pte Ltd’s business was adversely affected by the pandemic, there’s a silver lining in the cloud. The occurrence has necessitated the company to innovate its business model to remain viable and led to the discovery of new areas of security service provision. Managing director Tejdeep Singh shares his journey.
Accelerating Artificial Intelligence
Singapore is introducing two new public artificial intelligence (AI) programmes as part of the strategy to use technology for social and economic good, involving a total allocation of S$680 million to accelerate AI research. The latest initiatives require a funding of S$180 million.
Three Tips For Hiring Top Talents
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The Economy Is Recovering, But What About People?
All signs are pointing towards a speedy recovery. Contrary to what this writer initially predicted, the economy seems to be genuinely recovering.
