How Technological Obsolescence can affect Electric Vehicles
The auto business today is undergoing a major transformation quite similar to the smartphone industry in the early 2000s. The entire shift from conventional gas powered vehicles to electric power trains is creating radical ripples in supply chains, fabrication systems and even in service centers. The business model is shaken to core, thereby defining new processes about how electric vehicles are manufactured and sold. In any case, there is one issue that stands apart and common for every EV : Obsolescence i.e vehicles becoming outdated due to rapid innovation in the technological ecosystem. This case can be compared as EVs are becoming outdated like smartphones, or more specifically, iPhones. To explain further, a 2009 iPhone Model will be susceptible to malfunctions more than a 2019 iPhone Model. It may happen due to upgradation of new electronic systems and software capabilities , which makes the old iPhone incompatible with the latest hardware capabilit...