Despite ample reports suggesting the opposite, there is no hard proof self driving cars will necessarily be any cheaper, safer or economical than human-driven cars, let alone capable of displacing public transport systems on a mass level.
According to Bloomberg’s Chris Martin and Joe Ryan…
Mass transit, the lifeblood of cities worldwide, is under threat from the biggest innovation in automotive technology since Henry Ford’s assembly line first flooded streets with cars.
The self-driving vehicles being pioneered by Tesla Motors Inc., Alphabet Inc.’s Google and others are poised to dramatically lower the cost of taxis, potentially making them cheaper than buses or subways.
Which, quite frankly, is amazing stuff from the likes of McKinsey — since at some point in their illustrious history they must have done some public transport consulting work, no?
Read more: FT Alphaville