Only nostalgics will cling to the old habit of car ownership an economics professor predicts.
The simplicity of the EV model is breath-taking.
The Tesla S has 18 moving parts – one hundred times fewer than a combustion engine car.
‘Maintenance is essentially zero.
That is why Tesla is offering infinite-mile warranties.
You can drive it to the moon and back and they will still warranty it’ Prof Seba said.
Self-drive ‘vehicles on demand’ will be running at much higher levels of daily use than today’s cars and will last for 500,000 to 1m miles each.
It has long been known that EVs are four times more efficient than petrol or diesel cars – which lose 80pc of their power in heat.
What changes the equation is the advent of EV models with the acceleration and performance of a Lamborghini costing five or 10 times less to buy and at least 10 times less to run.
‘The electric drive-train is so much more powerful.
The gasoline and diesel cars cannot possibly compete’ Prof Seba said.
The parallel is what happened to film cameras – and to Kodak – once digital rivals hit the market.
It was swift and brutal.
‘You can’t compete with zero marginal costs’ he said.
The effect is not confined to cars.
Trucks will switch in tandem.