The acronym for internal combustion engine is ICE, and I believe is not coincidence: soon, we will consider this type of engine as coming from the Ice Age. The mechanics and the engineering required to trigger tiny explosions inside the cylinder to continuously move a piston up and down have been perfected to its very limit, there’s almost no room for improvement in that technology, and the superiority of the electric engine in terms of simplicity and required maintenance is huge. Therefore, it is just a matter of time to see widespread adoption — although perhaps such adoption won’t be at the individual or family level, but at the fleet level, as the car gradually transitions from product to service.

At the country level, you can clearly see how even the Arab countries start to see oil as just the temporary revenue generator to finance their non-oil future… that means something, don’t you think?

Professor of Innovation at IE Business School, blogger at and Senior Contributor at Forbes

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