Far from it. In fact, while people bought more electric vehicles in 2018, they purchased even more SUVs, making them the top-selling automobile in the U.S., and potentially cancelling out the positive environmental impact of electric vehicles.

That’s according to the International Energy Agency, in its annual energy report, released November 12, 2019. The IEA is an organization run by a consortium of 30 countries, devoted to developing clean and sustainable energy.

This year’s report predicts that global energy consumption will soar by 2040 under current climate policies, which could also lead to increased carbon emissions and global warming. The agency found growing use of renewable sources of energy such as wind, solar, and hydropower, but it also found the use of nonrenewable resources that create greenhouse gas emissions are rising at a rate that may outweigh any positive impact from renewable energy.

Top Takeaways from the Climate Report

• Demand for energy will increase by more than 1% every year until 2040, according to the IEA.
• Renewable sources of energy such as wind, solar, and hydropower are expected to make up 42% of energy generation by 2030, overtaking coal as the biggest source of energy, according to the New York Times, which viewed the IEA’s entire 800-page report.
• Solar power is expected to become the biggest source of power by 2040, according to IEA.
• Africa has the potential to produce 40% of the world’s solar energy.
• Electric cars, which operate on batteries that can be recharged at charging stations, are increasingly affordable and popular. But sales of SUVs, which operate on gas and are the second-biggest contributor to global carbon emissions continue to increase. Forty-two percent of cars purchased in the U.S. in 2018 were SUVs, compared to eighteen percent in 2000.

SUVs vs. electric cars

Most U.S. car companies are developing electric cars,  to compete with Tesla, the biggest player in the electric car industry. In October 2019, Ford announced plans to start producing electric cars, as well as a national network of charging stations. Ford also announced plans to develop an electric version of its iconic Mustang. Similarly, General Motors said it will soon release dozens of new electric car models by 2023, to add to its Chevrolet Bolt. Fiat Chrysler also announced plans in 2019 to develop electric Jeeps.

Still, consumers seem to prefer driving SUVs. While sales of electric cars increased by 81% in 2018, there were still only 1 million electric cars on the road. Nearly half of all car sales in the U.S. in 2018 were reportedly for SUVs. Last year, there were 200 million SUVs on the road, compared to 35 million in 2010. SUVs are also the second-largest contributor to global carbon emissions, after the energy and power sector, according to CNBC.

*Source: CNBC

The International Energy Agency says that under current conditions, energy demand will continue to outpace the development of renewable resources.

You can invest in renewable energy companies and companies that develop electric car technology on Stash.

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The company won approval from California regulators for its self-driving cars this summer, and is reportedly using 3D mapping technology to see if it’s feasible for its autonomous vehicles to drive there. Los Angeles has one of the worst traffic congestion problems in the world.

Waymo has conducted similar tests in Orlando, Phoenix, San Francisco, and Kirkland, Washington, according to reports. It is part of a growing industry for self-driving cars that include both new and traditional carmakers, as well as technology companies of all kinds.

Here’s a closer look at the self-driving car industry:

Self-driving cars, ride-sharing, and mobility services

Self-driving cars rely on sensors, artificial intelligence, and supercomputing capabilities to drive, rather than people. And they could play an important role in global transportation networks of the future.

By 2050, nearly 10 billion people are expected to inhabit the earth, most of them in cities, according to research from the United Nations. Not all of them can have cars, without causing perpetual gridlock—so rideshare will be essential to almost everyone, experts say.  And autonomous vehicles are likely to enable the greater the demand for rideshare.

In fact, industry experts have coined a name for the ride-share industry of the not-so-distant future.

It’s known as Mobility as a Service (MaaS). (You may have heard of Software as a Service(Saas)—essentially cloud computing–the concept here is similar.)  The industry is likely to reach $10 trillion by 2050, according to reports.

More about MaaS

Instead of selling you new cars, car companies and other providers may soon offer transportation subscriptions plans—you’ll pay by the mile each month for various ways to get around, much as you pay for cable or Netflix or other streaming services now.  Only instead of streaming media, you’ll have access to local bikes, scooters, cars, trucks, and taxis.

Since 2018, the city of Helsinki, Finland has been experimenting with MaaS via an app called Whim, which connects customers with a variety of local transportation options, including public transportation, reduced rate taxis, and car share opportunities for tiered monthly subscription rates. Customers have booked about 2 million rides so far, and the app has spread to Antwerp, Vienna, and will soon come to the U.S., according to reports.

You’re also beginning to see changes in ride-share apps. Startups Hyrecar and Turo, for example, let people rent out their automobiles as they would their apartments or homes on Airbnb.

Here’s the thing though: In order for the networks to work as efficiently as possible, autonomous driving will be necessary, according to Bloomberg.

Investment in autonomous vehicles

And nearly every big-name car and tech company is already investing in self-driving vehicles. (Several of their vehicles have been involved with accidents and at least one death.)

• In July 2019 for example, Ford and Volkswagen announced they would cross-pollinate a bit. Volkswagen will invest more than $2 billion in Ford’s autonomous vehicle startup, Argo AI, and Ford will purchase electronic components for the cars from Volkswagen.
• General Motors has spent close to $1 billion on self-driving car research.
• Google parent Alphabet has been testing driverless taxis in Phoenix, and other areas, through its Waymo subsidiary since 2018.
• Uber and Lyft have both set their sights on self-driving cars as a way to improve their business models.
• iPhone and computer maker Apple is developing self-driving car technology, although it has not divulged much information about the program.

MaaS and autonomous car networks all still many years away, experts say. But in the next few years, when you hail a ride with your smartphone, you may no longer see a driver.

The post Self-Driving Cars: Coming to a Street Near You appeared first on Stash Learn.

That’s according to a new report from the Wall Street Journal, which says the average car loan has climbed to $32,000, about a third higher than it was ten years ago,  while the average loan is held for 69 months, or nearly seven years.

Meanwhile, car dealerships have more incentives to offer loans, as dealers reportedly make more than twice as much money from financing a car than the sale itself, also a shift from a decade ago. Banks that originate the loans for a dealer typically offer a percentage of each new loan, according to reports.

On average, dealerships make nearly $1,000 on financing each new car,  compared to less than $400 for the sale. That’s a reversal from a decade ago, when dealers tended to make about $800 on average sales, and about $500 from financing, the WSJ says.

Consumer debt, including car, credit card, and student loans, has increased to about $14 trillion as of the second quarter of 2019. That also marked the  20th straight quarterly increase of consumer debt, according to the Federal Reserve Bank of New York.

Why are cars getting so expensive?

The car industry has changed in recent years, as consumers have opted for bigger and costlier SUVs, rather than smaller and relatively more affordable passenger cars. The car industry is responding to changing market dynamics.

All three of the largest U.S. automakers, including Fiat Chrysler,  Ford, and General Motors,  have slimmed down their production of passenger vehicles in recent years, according to Bloomberg. And SUV sales are expected to make up more than 50% of the U.S. car market by 2020, up from 35% in 2018, according to reports.

Meanwhile, the average cost of a mid-size SUV is about $33,000. The average cost of a new mid-sized passenger car is $25,000. And the average cost of a used car is about $20,000, according to recent data.

Some of the possible reasons for increased car prices include the trade war, where tariffs on imported goods like metal and electronic parts could be adding as much $1,300 to car prices, as well as the ever-increasing cost of new technology powering many standard car features.

Borrowing basics

Here are some things to keep in mind before you borrow:

• Create a budget, and try not to spend more than you earn.  (For some budget ideas, check here and here.) Spending more than you earn can quickly run you into debt, which could include high-interest credit card borrowing.
• As a general rule, your debt-to-income ratio, which is how much monthly debt you owe compared to your monthly gross income, shouldn’t exceed 43%.  Attempt to keep your debt load well below that. Borrowing more than that could affect your ability to meet future financial goals, such as purchasing a home. Many mortgage lenders want to see debt-to-income levels below 43%.
• Your credit score isn’t affected by your debt to income ratio, but it is affected by something called your credit utilization rate. That’s essentially how much of your total available credit you use. The more credit you use, generally speaking, the more that can affect your credit score.

You can find out more about credit scores and credit utilization here.

• If you plan to borrow, for a car or anything else, figure out how long it’s going to take you to pay off your loan. The longer it takes you, the more you’re likely to pay in interest and fees, which can dramatically increase your original loan amount.
• If you plan to take out a loan for a car, try to pay it off as quickly as you can. Here’s why: The average U.S. consumer doesn’t own a car longer than 6.5 years. You don’t want to continue owing money on a car that you no longer plan to drive. Also, and perhaps more importantly,  the value of a car decreases significantly over time and is typically only 40% of the original car cost after 5 years.

The post Beep, Beep! Don’t Lose Sleep Over Car Loans appeared first on Stash Learn.

That’s the message from the Alliance of Automobile Manufacturers, which has made fighting global warming by reducing carbon emissions a goal since 2018.

The alliance, an industry group whose members include some of the biggest automakers in the country such as Daimler AG, Ford, and General Motors, also wrote to the White House last year to push back against the Trump administration’s plans to ease fuel efficiency standards for cars.

Cars and climate: Some background

In April of 2018, the Environmental Protection Agency announced it would pare back Obama-era standards that would require car companies to produce vehicles that get 37 miles per gallon by 2022, eventually hitting 50 miles per gallon by 2025.

Instead, car companies in their letter urged the White House to follow California’s lead. The state, and 16 others plan to continue following the Obama era mileage goals. These states have sued the Trump administration, which said it may try to revoke the state’s authority in the matter.

States may set their own fuel efficiency goals, under the Clean Air Act.

Automakers say they’re still concerned about climate change and the industry’s role in rising global temperatures.

But cars are getting bigger!

Some car manufacturers have started turning away from making smaller economy cars with better mileage range, focusing instead on less energy-efficient SUVs and other larger vehicles.

In 2018, Ford announced it would stop manufacturing economy and mid-sized cars altogether, in favor of its trucks and SUVs. Car companies are also exploring tax loopholes that may reward them for manufacturing larger cars, according to the Wall Street Journal.

Still concerned

Despite the turn toward bigger cars, automakers say they’re still concerned about climate change and the industry’s role in rising global temperatures.

“Automakers remain committed to increasing fuel efficiency requirements, which yield everyday fuel savings for consumers while also reducing emissions — because climate change is real and we have a continuing role in reducing greenhouse gases and improving fuel efficiency,” David Schwietert, executive vice president of federal government relations at the Alliance, wrote in last year’s letter.

Schwietert added that setting up two sets of rules could have negative consequences for the roughly seven million people who work either directly or tangentially in the car industry.

What are greenhouse gases?

Greenhouse gases, created primarily by industry and human activity, trap heat in the atmosphere and are thought to contribute to global warming. They include carbon dioxide from the burning of fossil fuels like coal and oil, methane from decomposing animal waste, nitrous oxide from agricultural activities, and fluorinated gas from industrial processes.

Interested in investing in companies that care about the planet? Check out these funds available on Stash.

The post Why Car Companies Are Fighting Over Climate Change appeared first on Stash Learn.

It’s the biggest reorganization undertaken by the car giant since its bankruptcy 10 years ago, according to reports.

“We are taking this action now while the company and the economy are strong to keep ahead of changing market conditions,” GM CEO Mary Barra said in a conference call.

GM produces and sells cars under four brand names in the U.S.: Chevrolet, Cadillac, Buick, and GMC.

Here’s what you need to know:

• GM will lay off 15% of its salaried workforce, which includes around 8,000 workers, and possibly 6,000 hourly jobs. In October 2018, the company offered to buy out 18,000 workers. GM has 180,000 workers worldwide.
• At the end of 2019, assembly facilities in Maryland, Michigan, and Ohio will be “unallocated”–meaning that they could reopen in the future, but will most likely be shuttered. GM will also close plants in Canada and South Korea.
• Although GM didn’t specify which models it will discontinue, the list likely includes the Chevy Cruze, Buick LaCrosse, and the Cadillac CT6, which haven’t been selling well.
• Earlier this year, GM’s chief domestic rival, Ford, made a similar decision to stop producing most cars, to focus on SUV and pickup truck production.

What’s behind GM’s decision?

GM is hoping to become leaner and more profitable after restructuring and could save up to $6 billion by 2020, according to a company press release.

The company’s decision to stop production on some sedans is likely to cut costs as it pulls in revenue from SUVs, and pickup trucks, which have seen an increase in sales in recent years. Between January and September 2018, passenger car sales decreased by 13.2%, while truck and SUV sales increased 8.3%.

Other factors–including tariffs on steel and aluminum, which may have cost GM as much as $1 billion thus far–may have also prompted the change.

GM is reportedly looking to shift to electric, self-driving vehicles in the future.

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The post Why GM is Laying Off Thousands of Workers appeared first on Stash Learn.

The company, based in Palo Alto, California, has been publicly traded on an exchange called the Nasdaq since 2010.

Following the announcement, the Nasdaq halted trading of the company’s shares. (It then resumed trading less than two hours later.)

Musk has proposed making existing shareholders partial owners in the newly-private company by setting up a fund that would hold their shares. He has also floated the idea of buying shares at $420—about 20% higher than its current share price—which would value Tesla at $72 billion, according to the Wall Street Journal.

So what does all this mean?

What happens when a company goes private?

It’s the opposite of when a company goes public, or has an initial public offering. (That’s when a private company lists on a public exchange, such as the New York Stock Exchange or Nasdaq.)

Companies generally go private when another company makes a bid for the company’s shares. Executives of the company might also make a decision to take the company private, and buy the outstanding stock from shareholders.

When a company goes private, its shares are delisted from an exchange, which means the public can no longer buy and sell the stock. The company may offer existing investors a price for their shares that may be above the current level.

Why would Tesla go private?

Private companies don’t have the same level of scrutiny that public companies do.

When companies are public, they must file quarterly earnings reports with the Securities and Exchange Commission (SEC). These reports are filled with details about the company’s profit (or lack of it), revenue, debts, and changes to management, among many other details.

Private companies are not required to file these reports.

In recent years, for example, Tesla has been widely criticized for burning through hundreds of millions of dollars in cash and missing production deadlines, which has been widely broadcast following its earnings reports.

By going private, a company can often avoid regulatory scrutiny and the need to make public filings about its hits and misses. And that appears to be at least one motivation for Musk’s hope to go private. In a letter to shareholders Tuesday, Musk wrote:

“Being public also subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, but not necessarily right for the long-term.”

Good to know

It’s important to realize that many executives who intend to take their companies private often don’t, according to Financial Industry Regulatory Authority (FINRA). Announcements about going private can often boost a company’s share price temporarily, according to FINRA.

Tesla’s stock increased about 10% following Musk’s announcement, when the stock resumed trading, according to reports.

Have other companies gone private?

Yes, recent examples include computer maker Dell, ketchup manufacturer H.J. Heinz, and the supermarket chain Safeway.

The post Elon Musk May Take Tesla Private: What Does That Mean? appeared first on Stash Learn.

New cars, trucks, and SUVs are getting more expensive, as the average U.S. driver opts for pricier models while tightening credit conditions have led to higher interest rates on car loans. All told, drivers are seeing their car payments eat up a more significant portion of their budget than ever before.

The average American is paying a record $523 per month for a new vehicle, according to a report from Experian. That’s an increase of $15, or 3% from last year.

Consumers are also borrowing more than ever to finance their purchases, with the average new vehicle loan now clocking in at $31,455, up $921 from 2017. Those loans aren’t getting cheaper, either. The average interest rate is now 5.17%, up 0.31% from last year.

And higher prices evidently aren’t keeping consumers away from dealerships, as Americans are buying cars in droves. Consumers purchased nearly 18 million vehicles in April 2018, according to government data. Compare that to 2008 and 2009, during the Great Recession, when sales weren’t cresting above 10 million.

Why are costs going up?

The average price paid for a new vehicle in the U.S., at the beginning of 2018, was $36,270, according to industry data. That’s an increase of about 4% from January 2017.

The primary, but not only reason that average costs are increasing is that U.S. consumers are gravitating toward bigger, more expensive models. Ford, for example, recently announced that it would be gutting its lineup and focus almost exclusively on SUV and pickup truck production in coming years–vehicles that drive higher revenues.

Auto dealers have even tried to make purchasing smaller vehicles more enticing, offering significant discounts, rebates, and incentives on small and midsize cars over SUVs, according to Autotrader. But consumers are still opting for the bigger, more expensive vehicles.

The best-selling cars in the U.S., for example, are Ford F-Series pickups, followed by the Chevrolet Silverado pickup, according to industry data. In fact, the Ford F-Series has been the best-selling passenger vehicle in America for 41 straight years.

Other reasons that vehicle costs are on the rise? Inflation, regulation and tighter credit conditions are all in the mix. Consumers are also taking on bigger loans, with longer repayment terms. Some people are even taking out auto loans with repayment terms between 84 and 96 months, which can mean that drivers are paying more in interest. The average U.S. auto loan in 2018 is 60 months, at 4.21% interest, according to industry data.

New tariffs could also lead to bigger sticker prices, ranging from an additional $130 to $400, according to analysts.

Operating expenses

Buying a car is one thing. Driving and maintaining it is another–with a whole other slate of expenses for which drivers need to budget. The average cost of owning and operating a car is nearly $8,500 per year, according to data from AAA.

Gas prices have been trending upward lately, too, meaning that operating costs will likely continue to increase.

Can you afford a new car?

Buying a car is a big expense, and even industry insiders are privy to the bind it can create for consumers.

“I think we’re certainly at a point where [automobile] affordability is a question,” Melinda Zabritski, Experian’s senior director of automotive finance solutions, told CNBC recently. “When you look at how much income you need to support that [car] payment, it certainly is higher than your average individual income.”

You may love your car, but that doesn’t necessarily mean you can afford it.

Contrast the average monthly payment of $523 for a new car with what American workers are earning. The median weekly earnings for a U.S. worker in the first quarter of 2018 were $881 before taxes, according to government data.

Factoring in taxes, a monthly payment on a new car can easily eat up a quarter of the average American’s monthly budget, or more.

If that’s the case, buying a new car may simply be out of reach for the typical U.S. consumer–even if they’ve yet to realize it.

The post Americans are Paying More Than Ever For Their Cars appeared first on Stash Learn.

The company recently announced that it plans to stop production of all sedans, and instead focus on building trucks and SUVs.

Effectively, this means that Ford will no longer make models like the Taurus, Fusion, and Fiesta. Instead will only offer two cars stateside: The Mustang and the Focus Active crossover, which is due out next year.

Effectively, Ford is going all-in on SUVs and its massively popular F-Series pickup trucks.

Why is Ford shifting gears?

The short answer is that Ford’s cars are slow-selling and offer lower margins than the company’s other models. Car sales have been on the decline for years, and the company’s executive team is aiming at profitability—a goal more easily achieved by cutting fledgling models loose.

By 2020, almost 90 percent of the Ford portfolio in North America will be trucks, utilities and commercial vehicles.

“Given declining consumer demand and product profitability, the company will not invest in next generations of traditional Ford sedans for North America,” Ford’s quarterly earnings statement said.

American consumers are buying more trucks and SUVs, and Ford’s strategy reflects that. The company makes several SUVs, like the Escape, Explorer, Edge, and EcoSport.

It’s even reintroducing once-extinct models, like the Ranger and Bronco–all in an effort to sate Americans’ demand for bigger vehicles.

The raw data

Ford’s strategy change is an effort to keep pace with Americans’ changing tastes. People want bigger cars, and that’s what they’re buying. As a result, sales of smaller models have been on the decline.

For example, as of the beginning of April 2018, Ford has sold nearly 215,000 F-series pickups. That’s more than twice as many sales of the Toyota Camry (~91,000), the country’s best-selling car so far this year, according to industry data.

Of the top 20 best-selling vehicles in America, 14 are SUVs or pickups. The rest are cars, but all from foreign competitors, according to industry data.

Car wars

Foreign competition is another reason Ford is forfeiting certain segments of the market. The “Big Three” American automakers—Ford, GM, and Chrysler—are being dominated by companies like Honda and Toyota in the small vehicle space.

Ford isn’t alone in throwing up the white flag. GM also recently announced that it would stop making models like the Chevrolet Sonic and Impala, as sales have plunged in recent years. Fiat Chrysler is likewise making changes to its lineup. The Dodge Dart and Chrysler 200 sedans were cleaved from dealerships as it, too, tried to keep up with changing demand.

What’s spurring sales of SUVs and trucks?

In part, it’s due to economic conditions. The economy is in good shape, and gas prices have been relatively low since topping out at more than $4.00 per gallon, on average, in 2008.

Back then, at those prices, drivers were desperate for smaller, more efficient cars.

But now, with gas prices averaging around $2.50 per gallon, a dollar’s worth of gas will get you further. Gas prices are, however, rising.

What does it mean for you?

While your new car options are obviously limited when Ford enacts its new strategy, there are some economic side-effects that can reach beyond the auto industry.

Investors, on one hand, will likely benefit as Ford’s plan to slash spending and become more profitable fleshes out. But getting there will require hitting some bumps in the road, including plant closures and layoffs.

The post Ford to Abandon Car Production In Favor of Trucks and SUVs appeared first on Stash Learn.

They’re a wonder of technology—pistons, gears, valves and wheels, streaming along highways and roads all over the world. For many, cars mean freedom, and the ability to pursue work and travel far from home. Cars also mean convenience. Need groceries ten miles away? No problem.

Cities have grown larger because of them, as residents have moved 20 miles or more from from urban centers–and the suburbs couldn’t exist without them. Numerous industries depend on car manufacturing and sales to continue operating—think oil for gasoline, rubber for tires, and plastics for the innumerable components that go into cars.

And let’s not forget the trucking industry, that moves the products consumers depend on from one corner of the country to another, is also an outgrowth of the automobile. In 2017, revenues for this industry alone were three quarters of a trillion dollars.

In fact, from the days that the first Model Ts sped off the assembly line at a Ford factory more than 100 years ago, to today’s electric-powered Teslas, cars have shaped society and the world we live in. They have allowed us a kind of mobility that previous generations could never have imagined.

Cars drive the economy

Certainly car manufacturing and sales are huge economic drivers. There are about 1.5 billion cars on the planet, and that number is expected to grow to 2 billion by 2040. In 2017, some 88 million cars sold worldwide, and nearly a quarter of those were sold in the U.S. alone.

In the U.S., automobile manufacturing and sales contribute up to 3.5 percent of the U.S. economy, according to research. As an industry, they are the biggest manufacturing and retail segments combined, employing close to 2 million people who either work directly for the big manufacturers, or for companies selling parts and manufacturing components as suppliers, not to mention sale of the vehicles themselves.

Furthermore, workers in the industry earn some $500 billion annually, according to industry research.

The so-called Big Three automakers in the U.S. are Chrysler, Ford, and General Motors. These companies were at one point the largest manufacturers in the world. Today, they are still critical to the economy, but in recent years have been joined by foreign auto manufacturers including Honda and Toyota, which employ some 100,000 workers in the U.S., in addition to their workers overseas.

Cars and climate change

While cars are a huge part of the economy, they’ve taken a physical toll on the planet. Cars contribute to the warming of the earth’s atmosphere, dumping billions of tons of carbon into the atmosphere each year.

Auto sales and dealerships are an industry in their own right, contributing up to 2.6% of gross domestic product

The Environmental Protection Agency (EPA) estimates that about one-third of all greenhouse gases are caused by cars and other forms of transportation that use petroleum fuel. And traffic-related deaths—about 1.3 million people annually die from car accidents around the world—are also a significant concern.

Car makers are aware of the problems, and they are innovating at a fast and furious pace, with manufacturers focusing on making automobiles that are more energy efficient, safer, and—soon—driverless.

Additionally, fuel efficiency has increased over the years, and cars now average about 25 miles to the gallon, an increase of nearly 30% from 2004, according to the U.S. Environmental Protection Agency.

And all of the major car companies now have electric models or hybrids whose motors switch between gas and electric.  As much as five percent of all sales will be for all-electric vehicles in the next ten years, according to recent research.

The future of the car industry

Meanwhile, car companies are some of the biggest innovators around. Whether it’s coming up with the first idea for a moving assembly line more than a century ago, to today’s “just in time” template that conserves time and resources by producing what’s needed only when it’s necessary.

Manufacturers including Chrysler, Ford, General Motors and Tesla are working on the next generation of automobiles. They are using the latest technology, including computer software, high-power lithium-ion batteries, radar, cameras and even lasers to ensure cars run more efficiently, use fewer resources, and keep people safe.

Good to know: Airbags, which were at one time controversial, have saved an estimated 45,000 lives since they were first introduced in 1987, according to the National Highway Traffic Safety Administration.

Collectively, these companies know they must respond to challenges ahead.

Some day soon, driverless cars may become the norm. That could mean having a fleet of shared cars circling neighborhoods, ready to take you grocery shopping, or safely home after a big night out.

“My guess is that in probably 10 years it will be very unusual for cars to be built that are not fully autonomous,” Elon Musk, the founder and chief executive of Tesla said recently at a summit of world leaders.

The post Why the Car Industry is Still a Hotbed of Innovation appeared first on Stash Learn.