The real promise of the effect of electric vehicles on our economies on the way we live our lives cannot be overstated. Some of the greatest minds in the financial universe have predicted that the proliferation of the Electronic Vehicle will represent a larger transformation of the society than the invention of the smart phone. This is because among other things the Artificial Intelligence associated with the Electric Vehicle will impact multiple markets including Energy, Real Estate, and Transportation in all sectors, Construction, and many other markets. It will cause us to rethink the way we do business, and create new jobs while possibly devastating old jobs in the aforementioned sectors. For example, a fully-fledged EV universe could obviate the need for truck drivers, taxi drivers, and drivers in all other areas of transportation.
With the application of GPS technology and the ability to program routes via Artificial Intelligence (programs that learn as they go, there is no sector of the transportation industry that will not be affected.) Because the cost to operate electric vehicles is roughly 10% of the cost of operating a gasoline powered vehicle there will be no obstacles to where people will live. The property values in large cities will be affected because of the old business model of people needing to be close to their offices so that they won't have to commute from suburban and rural locations may not hold water now. Currently, inner city property values have made it impossible for all except the wealthy to own houses in the city. This gentrification effect has displaced minority communities by the hundreds and is still going on. This displacement is driven by the desire for convenience and easy access to the workplace. However, the recent Covid-19 Pandemic forced many to work from home and has simultaneously proven that there are few disadvantages to this new work relationship.
Now, as the pandemic has subsided workers who previously commuted to their workplace in center cities now do not relish the idea of going back to the old commuting model with its built-in parking and traffic issues. They would rather continue to work from home. This is a dynamic that undergirds the EV environment and will change the way that we plan our lives moving forward. This will change the framework and structure of communities.