Chrysler announced last week that it will become an all-electric vehicle company by 2028. This is a pretty big deal and, as I understand it, a first for the legacy US automakers. At this point, it now feels difficult to argue that this shift isn't going to happen. Though I remember lots of people in the past asserting that the masses would never ever switch over to electric.
I guess that's the status quo bias at work. Because if you flip the script and assume that the status quo is already electric (that is, we all come home after work, plug in our cars, and charge them up at low rates), it would be pretty hard to argue for a switch to gasoline-powered cars. Here, try this new thing. It'll cost you more to fill up and you get to pollute the environment more. But hey, it sounds cool when you do a cold start.
Do we have Tesla to thank for exposing this?
Here's some further evidence from the Exponential View.
In the UK last month (December 2021), 41% of new car registrations were electric or some kind of plug-in electric hybrid. That is up from 29% for the same period in 2020 (see above). Pure EVs also make up about 2/3 of these registrations and look to be picking up momentum. That's certainly what I would expect to see when we revisit these numbers next year. The century of gasoline vehicles is coming to an end and it's going to happen well inside of this decade.
When I was buying a new car back in 2018, I wanted to buy an electric vehicle. I don't have a charging station in my parking garage, but I would have gotten one. The problem is that I couldn't find the kind of car that I wanted in an electric version. And the ones that were available were pretty expensive. That has changed and is no longer the case. If I were buying today, it would certainly be an EV. The car would also have to change colors at the push of a button.
But, of course, the other element of change here is autonomy. And if/when that arrives, it will be far more disruptive than this shift to electric.
I can think of at least a dozen buildings in Toronto that use some form of a parking stacker system. And I am seeing firsthand how they are becoming more popular and more commonplace as a result of space constraints, rising costs, and a bunch of other factors. Below is an example of a system that allows you to (almost) triple the number of cars that can be accommodated on a given footprint. However, it does require higher floor-to-ceiling heights and a pit. If you can't see the video below, click here.
https://youtu.be/lDbMnNMdFFg
Chrysler announced last week that it will become an all-electric vehicle company by 2028. This is a pretty big deal and, as I understand it, a first for the legacy US automakers. At this point, it now feels difficult to argue that this shift isn't going to happen. Though I remember lots of people in the past asserting that the masses would never ever switch over to electric.
I guess that's the status quo bias at work. Because if you flip the script and assume that the status quo is already electric (that is, we all come home after work, plug in our cars, and charge them up at low rates), it would be pretty hard to argue for a switch to gasoline-powered cars. Here, try this new thing. It'll cost you more to fill up and you get to pollute the environment more. But hey, it sounds cool when you do a cold start.
Do we have Tesla to thank for exposing this?
Here's some further evidence from the Exponential View.
In the UK last month (December 2021), 41% of new car registrations were electric or some kind of plug-in electric hybrid. That is up from 29% for the same period in 2020 (see above). Pure EVs also make up about 2/3 of these registrations and look to be picking up momentum. That's certainly what I would expect to see when we revisit these numbers next year. The century of gasoline vehicles is coming to an end and it's going to happen well inside of this decade.
When I was buying a new car back in 2018, I wanted to buy an electric vehicle. I don't have a charging station in my parking garage, but I would have gotten one. The problem is that I couldn't find the kind of car that I wanted in an electric version. And the ones that were available were pretty expensive. That has changed and is no longer the case. If I were buying today, it would certainly be an EV. The car would also have to change colors at the push of a button.
But, of course, the other element of change here is autonomy. And if/when that arrives, it will be far more disruptive than this shift to electric.
I can think of at least a dozen buildings in Toronto that use some form of a parking stacker system. And I am seeing firsthand how they are becoming more popular and more commonplace as a result of space constraints, rising costs, and a bunch of other factors. Below is an example of a system that allows you to (almost) triple the number of cars that can be accommodated on a given footprint. However, it does require higher floor-to-ceiling heights and a pit. If you can't see the video below, click here.
https://youtu.be/lDbMnNMdFFg
This past weekend I toured my friend's purpose-built rental project in Wynwood, called Midtown 29. It was completed last year and has already been stabilized.
Real estate development is very much a local business. It is that way because so much of it is driven by relationships, but also because every market has its own little idiosyncrasies.
This is always valuable to see. Sometimes we do things in our home market because it makes perfect sense to do so and sometimes we do it just because it's, "the way we've always done it."
One of the most obvious things about development in South Florida is that the parking is always above-grade. No basements. That has the result of bringing down construction costs; though I understand that, with sea level rise, insurance costs are on the rise.
If (or when) this whole autonomous vehicle thing does in fact take hold, it's going to be a hell of lot easier to convert all of that excess parking in Miami than it will be in Toronto.
This past weekend I toured my friend's purpose-built rental project in Wynwood, called Midtown 29. It was completed last year and has already been stabilized.
Real estate development is very much a local business. It is that way because so much of it is driven by relationships, but also because every market has its own little idiosyncrasies.
This is always valuable to see. Sometimes we do things in our home market because it makes perfect sense to do so and sometimes we do it just because it's, "the way we've always done it."
One of the most obvious things about development in South Florida is that the parking is always above-grade. No basements. That has the result of bringing down construction costs; though I understand that, with sea level rise, insurance costs are on the rise.
If (or when) this whole autonomous vehicle thing does in fact take hold, it's going to be a hell of lot easier to convert all of that excess parking in Miami than it will be in Toronto.
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