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Here’s what we’ve got for you today:

• How Robotaxis Impact GDP More Than Anything In History

• MG Cyberster Revealed: The “Affordable” 300bhp Roadster

• Electric Vehicle Adoption Enters “The Chasm”

• Europe Faces An Incoming Chinese EV Storm

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Ladies and Gentlemen, get ready for a revolution! According to ARK, autonomous vehicles could potentially turbocharge our global GDP by 20% over the next decade. Think of it as adding a few more stripes to the economic flag!

ARK predicts a hefty $26 trillion GDP increase by 2030 thanks to our self-driving friends, making it one of the most impactful innovations in history.

Autonomous vehicles could potentially save millions of lives globally. This, while reducing GDP by $1 trillion due to fewer repairs and hospital stays, is a trade-off we'd be more than willing to make. Those saved from accidents would still be active contributors to the economy.

Imagine transforming commuting hours into productivity! In the US alone, we're talking about 420 hours per year per person. Globally, this could result in a $17 trillion productivity lift.

However, our reliance on electric vehicles might cause a drop in GDP by $1.2 trillion from loss in fuel and maintenance revenues. Cheaper transport via robotaxis could also see a dip in personal car sales, reducing GDP by $1.8 trillion per year. But fear not, the loss could be offset by an estimated $1 trillion from autonomous car sales to fleet operators.

Overall, ARK believes that by 2030 autonomous travel could drive a net $26 trillion addition to global GDP. This includes an increase of $30 trillion from ride-hail service revenues and newfound productivity, take away the decrease of $4 trillion mentioned above due to fewer accidents and less gas-vehicle sales and maintenance.

With global growth potentially zooming to 6% thanks to autonomous taxis, consumers could be the biggest beneficiaries. Lower transportation costs and an extra 10 weeks of free time could give everyone the chance to live a better life. Talk about a joyride to the future!

MG CYBERSTER: THE 300BHP ROADSTER

MG's all-new Cyberster made a grand entrance at the Goodwood Festival of Speed. The first sports roadster from MG since the MG F in 1995, it's set to be an affordable EV market disruptor. With a starting price of $62,000 for a 309bhp rear-wheel-drive version, and going up to $73,000 for a 536bhp four-wheel-drive, it's a challenge to its competitors.

The Cyberster's design has been adapted to accommodate a larger traction battery, making its size more akin to the BMW Z4. The car's layout remains somewhat under wraps, but the single-motor model is said to weigh around 1850kg, with the dual-motor version adding another 135kg.

Inside, the Cyberster boasts a spacious cabin and a 'skateboard' chassis design housing the batteries. The look is futuristic, featuring gaming-inspired interiors and theatrical scissor doors.

MG's design director, Carl Gotham, highlights that the Cyberster will spearhead the design direction for future MG models. According to MG UK's commercial director, Guy Pigounakis, the vehicle's main goal is to boost the MG brand image, but he anticipates annual UK sales to reach about 2000 units. He attributes MG's impressive growth to excellent value for money, efficient distribution, and strong brand recognition, which particularly resonates with older buyers.

MG's sales have skyrocketed over recent years, with a spectacular surge across Europe from under 1000 units in 2019 to an expected 120,000 by the end of 2023.

EV ADOPTION ENTERS “THE CHASM”

Car sales data for Q2 2023 are rolling in, and the electrifying reality is: EVs aren't exactly sparking a sales riot among traditional automakers. Let's take Porsche for a spin - most models are revving up sales over 2022. But for the Taycan, it's more of a power outage with nearly 900 fewer electric sedans sold compared to the same period last year – that’s a shocking 35% drop.

This suggests we're "crossing the chasm" in EV adoption, a term whipped up by business author Geoffrey A. Moore. It seems we've left the era of EV aficionados collecting every model like Pokemon and are idling in the gap before the average Joe sees EVs as more than just a flashy gadget.

Interestingly, we're seeing a charging standard switcheroo. Until recently, the Combined Charging System (CCS) was the cool kid in the plug playground. Suddenly, bigwigs like Ford, General Motors, Rivian, Mercedes, and more, are dropping it like a hot potato for the North American Charging Standard (NACS), also known as Tesla's plug. It’s as if CCS was kicked out of the popular group and replaced by the geeky kid who discovered a cool talent. Legacy automakers have realized that a robust charging network is their golden ticket to convincing Mr. and Mrs. Average to buy an EV.

Soon, battery technology is also slated to zoom ahead faster than a race car if Toyota's words hold water. However, the reality is that we're in for a few pit stops before we reach that finish line - probably months, if not years.

In the meantime, potential buyers are keeping a tight grip on their wallets, waiting for the day when buying an EV is as simple as choosing what toppings to get on their pizza. I’ll take Pineapple on mine, thanks.

EUROPE FACES AN INCOMING CHINESE EV STORM

Hold on to your electric car charging cables, Europe - there's a "Chinese storm" brewing! This ominous forecast comes from Renault Chairman Jean-Dominique Senard, who has raised concerns about China's dominating grip on the key raw materials needed for EV batteries.

Just like controlling the spice trade centuries ago, China is now taking charge of the global production of two critical metals - gallium and germanium. These metals aren't just rockstars on the periodic table, but vital ingredients in semiconductors and electric vehicles. China's recent move to restrict their export is causing a stir in Europe.

"When I mention a 'Chinese storm', I'm pointing to the surge of Chinese EV imports to Europe, and our struggles to safeguard our supplies," explains Senard. He notes that China’s EV industry and supply chain have grown robust thanks to years of heavy investment - replicating it would cost Europe more than just a pretty penny.

Senard refers to the scramble for resources as the 'War of metals', a dramatic phrase that could easily belong in a blockbuster movie title. With China claiming a whopping 94% of the world's gallium production, the reality is more like 'Game of Thrones' with minerals instead of kingdoms.

As the export restrictions stir up a tech war between China and the U.S, Europe finds itself in a tight spot, needing to come up with Plan B. Senard warns that if a geopolitical crisis erupts, battery factories that rely on overseas supplies would be hit hard. Hence, the search for alternative fuels like synthetic e-fuels and hydrogen becomes more crucial than ever.

Meanwhile, other automakers like Volkswagen, which also relies on gallium and germanium, say they are 'ready to take measures with partners if necessary’, although they aren't dishing out details.

Chipmakers, on the other hand, are viewing China's export restrictions more as a warning shot than an immediate threat. Taiwan's WIN Semiconductors and TSMC, and NXP Semiconductors don't foresee any direct impact on their production from these measures. However, if prices rise as restrictions kick in, it might be another push towards reshuffling supply chains.

So, is it all doom and gloom? Perhaps not, but it's clear that Europe needs to buckle up for what could be a bumpy ride in the world of EVs and semiconductors.

THE JUICE 🔋

Elon Predicts Full Self Driving “Later This Year” For the tenth year in a row…

Tesla V4 Supercharger With contactless payment, small screen and longer cable.

China Launches Robotaxi Service Driverless vehicles are now available in Shanghai’s Pudong district. The Robotaxi Race is on.

Meanwhile… Taxi, Uber and Lyft drivers in the US go against Robotaxis due to fears of shrinking wages and going homeless.

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That's a wrap for today. Charge your batteries & see ya next time! If you want more, be sure to follow our Twitter (@PluggedInEmail)

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.