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Petrol and diesel cars to disappear from roads by 2025, new report claims

Diesel and petrol cars will disappear from the roads within eight years, according to a new report.

The report “Rethinking Transportation 2020-2030: The Disruption of Transportation and the Collapse of the Internal-Combustion Vehicle and Oil Industries,” was released earlier in May by San Francisco think tank RethinkX. It was written by venture investor James Arbib and Stanford University economist Tony Seba.

The report maintained that all vehicles will be electric by 2025 and that people will stop driving altogether.

The study stated that motorists will make the switch to self-driving electric cars to save money, causing the complete collapse of the oil industry.

It even suggests that cities will ban human drivers from getting behind the wheel once data shows how dangerous they are compared to robots.

The report’s summary stated: “We are on the cusp of one of the fastest, deepest, most consequential disruptions of transportation in history.

“By 2030, within ten years of regulatory approval of autonomous vehicles (AVs), 95% of US passenger miles travelled will be served by on-demand autonomous electric vehicles owned by fleets, not individuals, in a new business model we call “transport as-a-service” (TaaS).

“The TaaS disruption will have enormous implications across the transportation and oil industries, decimating entire portions of their value chains, causing oil demand and prices to plummet, and destroying trillions of dollars in investor value — but also creating trillions of dollars in new business opportunities, consumer surplus and GDP growth.

“The disruption will be driven by economics. Using TaaS, the average American family will save more than $5,600 (€5,100) per year in transportation costs, equivalent to a wage raise of 10%. This will keep an additional $1 trillion per year in Americans’ pockets by 2030, potentially generating the largest infusion of consumer spending in history.”





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