A Silicon Valley entrepreneur and author has explained how electric vehicles will disrupt and change transportation across the world.
But first, Tony Seba – who is an instructor in disruption and clean energy at Stanford University’s Continuing Studies Programme, explained to an audience at the World Future Energy Summit in Abu Dhabi, exactly what the nature is of a ‘disruptor’.
“A disruption is when technologies converge and create a new market and helps to destroy or transform an existing industry,” said Seba.
As examples, he said highlighted what digital cameras did to film or how Uber created the ‘ride-hailing’ market.
“Disruption happens from the outside. Neither Google nor Apple had ever built a phone – now they own that market. And whoever is the incumbent is gone.”
And he added that it is usually “experts, insiders and mainstream analysts who dismiss disruptors”.
In the energy industry, he said this happens most often with solar: “Solar has grown by 40 per cent every year, yet mainstream forecasts [and he singled out those of the International Energy Agency] are linear, siloed and backwards-looking.”
To stress how electric vehicles have already become disruptors, Seba said: “Batteries are going down in cost by 20 per cent a year. Dyson is investing £2.5 billion to develop an EV by 2020. There are 2000 moving parts in a combustion engine – an EV has 18, so it’s ten-times cheaper to maintain.”
And he predicted that “by 2025 every new vehicle will be electric”.