End of car ownership: Startups such as Faraday Future envision selling subscriptions to a vehicle—for instance, allowing people to use it for a certain number of hours a day, on a regular schedule for a fixed price. Other companies are experimenting with the idea of allowing drivers to access more than just one kind of vehicle through a subscription—so, a driver might choose a compact model one day but a minivan another day if she needed more passenger space. Lexus is testing payment plans that let people subsidize the purchase of pricey cars by renting them through a service called Getaround.
Because autonomous cars will likely be designed to be on the road longer with easily upgradable or replaceable parts, the results could be devastating to auto makers. “It may become more like the airline business where we see jets that have been in service for 50 years.”
Gujarat power plant losses: After steel and telecom, lenders brace for NPAs in power sector. Coal-fired power plants under extreme pressure due to fall in solar tariffs. Tata, Adani, Essar stare at huge writedowns.
Solar Wall: Trump confirms he wants a solar border wall.
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