In a just-released Energy Technology Perspectives 2024, by International Energy Agency (IEA), the global market value for six mass-manufactured clean energy technologies – solar PV, wind, EVs, batteries, electrolysers and heat pumps saw a nearly 4X growth between 2015 and 2023, to cross $700 billion. The figure is projected to treble by 2035.
EVs, solar PV, and wind energy are the key drivers. As the auto industry progresses in its adoption journey of cleaner technologies, it’s crucial that Governments pave the road for them by encouraging innovation, healthy competition, and most importantly a robust local EV ecosystem.
Plan in the works to fund R&D for electric vehicle subsystems
Bets on Autonomous Driving
If tailpipe emission-free EVs help tackle the pollution challenge in cities, autonomous vehicles promise to make mobility much safer as it’s estimated that over 90% of road accidents happen due to human errors. The Autonomous Driving megatrend has gone into a slow lane after the initial hype cycle, but the bets on it are still on.
Chinese self-driving firm WeRide raises USD 120 mn in US IPO
Alphabet's Waymo closes USD 5.6 bn funding to expand autonomous ride-hailing service
Leveraging autonomous driving tech for factories
The use case for Autonomous Driving tech need not be restricted to the roads. It’s also offering value to players in the materials handling industry.
India's EV pioneer Maini Group ventures into autonomous tech with SiMa.ai partnership
The Connected Vehicle tech influence
The Connected Vehicle technology megatrend is as big, if not bigger than the EV megatrend in terms of its market influence. The following stories reflect how it can affect on consumers, and potentially on a country’s industry too.
For new-age car buyers, connected features become a driving factor
Mexico warns US ban on Chinese car tech could hurt automotive industry
Deal for software and chip
Collaborations are on the rise to grow in the ongoing disruptive era. In yet another example, Qualcomm and Google’s parent Alphabet join hands for AI tech for automobile applications. More in the story below.
Qualcomm, Alphabet team up for automotive AI; Mercedes inks chip deal
Collaboration for pushing innovation and technology
In another example of the growing collaboration trend, auto component industry association ACMA, and research organisation Fraunhofer come together to help players in the Indian automotive sector to drive innovations, at competitive costs.
ACMA Mobility Foundation partners with Fraunhofer for advanced R&D in auto component industry
The evolving character of a car
With all the automotive software and AI tech development, the car as we have known thus far can become a totally different animal. How much is it going to change? Find out in the story below.
What would you prefer a car like, a laptop/mobile, or a DVD player
The H2 piece of the cleantech pie
As mentioned at the beginning of this newsletter, the clean technologies market is set to grow at quite a healthy rate. Hydrogen can play a major role in India’s quest for carbon neutrality by 2070, and therefore deserves due focus by all stakeholders.
Hydrogen: The missing piece in India’s clean mobility revolution
As we end this edition of our weekly newsletter on a clean technology note, let’s also make a pledge this Diwali to contribute towards a cleaner and safe environment. Team ETAuto wishes you and your loved ones a Happy Diwali!
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