A future where electrified vehicles are more commonplace than combustion engines might not be too far off. The tipping point could be as soon as 2040 and this is a conservative estimate. That’s according to Justin Sim, CEO of QiQ, and Maneesh Tripathi, CEO at Sevak Limited, speaking at a panel on urban mobility at TechNode’s ORIGIN at SWITCH (Singapore Week of Innovation and Technology) 2018.

The industry is set to see an S-shaped curve sometime during the next 10 to 20 years, very much like the television and microwave ovens when they first came out but unlike these household appliances, there’s a specific reason why this boom will happen only in the distant future.

“The transformation from fossil fuel-based vehicles to electric vehicles is slow because whole mobility industry is heavily invested in an economy built on fossil fuels, to the tune of trillions of dollars over decades, and even centuries,” said Tripathi. “Change will only come once players in the economy decide that they have reaped enough returns from fossil fuels and have identified the new money-makers in the clean energy sector.” 

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Jeriel Tan

Marketing Manager at Technode.com, and occasional scribe. Contact me at jeriel@technode.com