In today’s world, mobility has developed beyond imagination. It’s the era of self-driven motor vehicles and each passing day is adding to this change. Autonomous vehicles (AVs) or self-driven cars bring efficiency in daily lifestyle which is why there is an exponential growth in this sector. These vehicles not only compliment the fast-paced life but are also efficient for the environment. When transportation is responsible for 15% to 25% of global carbon emissions, worldwide use of AVs can substantially reduce the emissions. AVs are found to be more efficient in fuel consumption. This sector can help in furthering the efforts in achieving Sustainable Development Goals (SDGs) of Industry, Innovation and Infrastructure and Climate Action (SDG- 9 and 13)
This industry from a broader perspective can have some negative effects on human health. Presence of remote controls and various other facilities like Wi-Fi, GPS Tracking etc. expose the user to higher radiation on daily basis. Continued use of AVs by the users can result in emergence of neuro-related illnesses. Secondly, these cars are going to operate on old highways and roadways which aren’t optimized for the use of AVs. Both these aspects related to AVs carry a direct threat to the SDG- 03, Good Health and well-being.
As autonomous vehicles hold an important place in sustainable mobility, investors are getting drawn to the investment opportunities in this market. The fuel efficiency and enhancement in ease of living are major attractions for investors in this sector.
This attraction is also a result of ESG integration into self-driving market. Trendsetters like Embark Trucks and Neuro recently made ESG related disclosures in their reports. Tesla’s reluctance to agree with ESG mandates clearly saw major drop in investors’ motivation to invest in the company which came as an eye opener for other players in the market.
The global autonomous vehicles market demand was estimated at 51.6 thousand units in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 53.6% from 2022 to 2030. Self-drive cars are a key innovation in the automotive industry, with high growth potential, and act as a catalyst in the technological development of automobiles. Developing a supportive regulatory framework, government funding, and investment in digital infrastructure is expected to play a key role in positively affecting the market growth during the forecast period. As stated above, there are various benefits of using AVs in future which will result in mass utilization of this technology. But latently it will increase the effects on human health which will be hard to mend once this means of mobility becomes mainstream.
• Audi AG
• BMW AG
• Daimler AG
• Ford Motor Company
• General Motors Company
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