This podcast discusses the upsides and downsides of the growing EV boom, including abandoned electric cars in China and revenue shortfalls in Norway due to tax breaks. It highlights the rise and fall of EV startups in China, Norway's success story with EVs, and how Oslo is adapting to the rise of electric cars. The importance of electric cars in combating climate change and addressing car congestion in cities is also explored.
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Quick takeaways
The podcast highlights the need for businesses to ensure they use the right AI tailored to their specific needs, using verified data.
The challenges faced in China and Norway with growing adoption of electric vehicles (EVs) are discussed, highlighting the need for effective management and sustainability.
Deep dives
The Impact of AI and the Importance of Using Verified Data
AI has the power to generate solutions, but if it's using unverified data, it could generate problems. The podcast highlights the need for businesses to not just adopt AI, but to ensure they use the right AI tailored to their specific needs. The introduction of Watson X, a platform that allows businesses to train, tune, and deploy AI using trusted data, is emphasized as a way to create the right AI solutions for businesses.
The Challenges of EV Adoption in China
The podcast explores the challenges faced in China with the growing adoption of electric vehicles (EVs). The existence of EV graveyards, where abandoned early models of EVs are piling up, is discussed. These abandoned EVs are a result of ride-hailing companies going bankrupt or newer and better models being available on the market. The government's struggle to clean up these graveyards and determine ownership responsibility is highlighted.
Norway's Success and Challenges with EV Adoption
The podcast presents Norway as a success story in EV adoption, with the country having the highest per capita adoption of EVs. The government's incentives, such as tax breaks, have driven the popularity of EVs, resulting in over 96% of new car purchases being electric or hybrid vehicles. However, the episode also discusses the financial challenges faced by Norway due to the loss of tax revenue from these incentives. The need for careful management of incentives to ensure sustainable growth and support of other environmentally friendly transportation modes is emphasized.
Growing sales of electric vehicles around the world have also come with growing pains. In China, outdated models no one wants pile up in vast EV graveyards. In Norway, tax breaks for electric car buyers have been so successful that the government faces a revenue shortfall.
Bloomberg’s Linda Lew and Businessweek contributor Willem Marx join this episode to talk about the upsides—and downsides—of the EV boom. And Oslo city councilman Eivind Trædal explains why electric cars can sometimes make the problem of traffic-clogged streets even worse.