“Don’t get left behind in the future,” says Carnex Shirley Li

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TORONTO, March 8, 2022 (GLOBE NEWSWIRE) — TORONTO, March 8, 2022 — Carnex, Canada’s leading used electric vehicle dealership platform, showcased at the EqualOcean online webinar to help companies provide a clear path on how to unlock latent Industry with electrification, autonomous driving and the business model Transportation-as-a-Service.

Disruptions and market changes have never been so volatile. Using the example of once-dominant mobile giant Nokia, Shirley Li, Carnex’s head of investor relations, warned that no one is too big to fail.

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“The first thing to understand is the speed at which this change will happen,” Li said. “If we look at the real adoption rate, we see an ‘S curve.’ This is because technology enables technology, and as they converge, costs fall and capabilities rise until we reach a peak where the new is rapidly supplanting the old. If you look at what has happened throughout history, these S-curves are getting steeper and steeper, which means the timeframes for companies to learn and adapt to consumer preferences are getting shorter and shorter.”

This S-shaped adoption rate has already started to form; The global sales penetration of electric vehicles has doubled in the past year compared to the previous year.

The reason for this growth is out of sheer necessity, Li said. It is no longer acceptable to sacrifice the environment for greater economic gain. Global industries must come together to mitigate the risks of violent natural disasters caused by climate change.

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Luckily, new advances in technology mean there is no longer a binary choice between saving the planet and making a profit. Rather than wasting capital and time “fixing” existing carbon-intensive industries, they should be replaced with newer and cleaner technologies.

With the transportation industry alone generating 12% of all greenhouse gas emissions, vehicle electrification is at the forefront of the clean tech revolution.

Electric vehicles are not only economical and environmentally friendly, but with their advanced features and performance, they are also the best choice for consumers.

There are four key factors driving the “S-curve” in EV adoption:

  • Cheaper to drive: Electricity is currently ten times cheaper than gas.
  • Less expensive to maintain: EVs have far fewer moving parts. Exact savings are hard to pinpoint, but look at the real-world example of New York City — in 2019, the city spent an average of five to six times less on maintaining its electric fleet compared to its previous gas vehicles.
  • They last longer too: With a lifetime range of over 800,000 km, drivers get 2.5 to 5 times more kilometers in an electric vehicle. This is especially important for fleets where durability and COO are critical.
  • Greater Consumer Value: Finally, at the core of why electrification is disrupting the industry is that it simply generates greater consumer value. They were born out of a new technology age, with a focus on software and connectivity.

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Thirty-two countries have joined efforts to speed up the transition by requiring all new passenger cars to be zero-emissions by 2040.

The 32 countries that have already mandated that all new passenger cars must be zero emissions by 2040 are driving the change. Some countries, like Canada, have set the deadline even earlier, in 2035. To accelerate the adoption of electric vehicles, the Canadian government established the Incentives for Zero-Emission Vehicles program, through which electric vehicle buyers would receive a credit of $2,500 to $5,000 towards their vehicle purchases. A Consumer Report study found that the lifetime savings of an electric vehicle far outweigh any price difference over its gas-powered counterparts, further increasing its appeal for both personal use and fleets.

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In parallel, countries have also pushed ahead with the installation of supporting infrastructure for electric vehicles. Vehicle manufacturers are also investing heavily in electric vehicle research and development. To make it clear, Li stressed that Honda will only sell electric vehicles and hybrids in Europe until next year. Increased investment and choice of EVs combined with rising gasoline prices as a deterrent make EVs a sensible choice for both the economy and the environment.

Li added that in addition to electric vehicles, the future of transportation will also be redefined by two other concepts: autonomous driving and transport-as-a-service (TaaS).

Level 4 autonomous vehicles do not require human attention under most circumstances and therefore add value to consumers by giving back valuable commute time, and to fleets and driving services by reducing labor costs.

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These accelerators will have a profound impact on the transportation industry as consumers continue to digest chronically high gas prices and increase mobility needs with the pandemic.

“The disruption currently taking place will present great social and economic opportunities, but the only thing worse than missing an opportunity is being crowded out by its outcome,” Li concluded.

About Carnex

Carnex.ca is Canada’s first e-commerce platform for used electric vehicles, with the electric vehicle company’s headquarters in Toronto, Ontario. Its core management team has been specializing in the automotive industry for more than ten years – mainly in China, which is home to the world’s largest market for electric vehicles.

Carnex’s monthly sales currently exceed C$1 million. It recognized that the potential EV market is huge as more and more customers seek high-quality, green EV products and services. Therefore, the founders want to bring the convenience and benefits of electric vehicles to everyone.

To this end, Carnex.ca is dedicated to providing customers with EV knowledge and meeting consumer needs with after-market services such as EV test drives; technical advice, for its local customers in Canada they now also offer online car selection; online loans; online replacement; and door-to-door auto delivery.

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