In 2009 Waymo the division of Alphabet started working on self driving car technology. Soon both Waymo and Uber visions was much larger than what anyone knew at the time.
Major car manufacturers worldwide were focused on their existing, traditional business model of building and selling cars. But a much bigger market was brewing right under their noses. Uber and Waymo saw a multi trillion market opportunity in ride sharing, autonomous transportation. Their vision was exponentially larger than anything that existed in transportation. Today every car maker has caught on. The future of car ownership as we know it today is going away and by 2025 car ownership will be a distant memory for many people. For those who dig deep and work in this autonomous travel space, none of this is a surprise. But for other people not paying attention they may miss some really big opportunities. One opportunity is something Toyota motor cars is working on and introduced at the CES 2018 conference. Toyota calls this new vehicle product the “e-palette“. This vehicle is a whole new mobile business model concept made possible by applying AI, electric cars, telecom, sharing economy, IoT and autonomy in transportation. Toyota has big plans for this vehicle and platform and other companies are not far behind in developing similar products.