At This CES, Pragmatism Reigns
Bloomberg Businessweek US|January 09, 2023
After years of focusing on nascent technologies, interest shifts to areas with near-term profit
At This CES, Pragmatism Reigns

For years the transportation displays at the annual Consumer Electronics Show in Las Vegas have been dominated by flights of fancy—think self-driving cars and flying robotaxis—that promised a Jetsons lifestyle was just around the corner. But this year’s CES, which opened on Jan. 5, is spotlighting less-sexy technologies that are here and now, such as autonomous tractors and electric cars. After the high-profile October collapse of Argo AI, the former self-driving unit of Ford Motor Co. and Volkswagen AG, the coin of the realm at this year’s CES is profit, not potential. Car companies and startups alike are showing products and services they expect to provide a return on investment in the near term rather than some hazy tomorrow that may never come.

“There’s no question that there’s been a shift,” says Gary Shapiro, president of the Consumer Technology Association, which puts on the show. “The Biden administration has focused more on electric vehicles than they have on autonomous.”

Exhibitors at CES are doing the same. An electric Ram pickup concept from Stellantis presages a model to take on Ford Motor’s F-150 Lightning, Rivian’s R1T and Tesla’s coming CyberTruck. Startup Lordstown Motors Corp. is showing its Endurance plug-in pickup. And General Motors, Mercedes-Benz and Volvo are all touting new EVs.

This story is from the January 09, 2023 edition of Bloomberg Businessweek US.

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This story is from the January 09, 2023 edition of Bloomberg Businessweek US.

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