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aws试用账号(www.2km.me)_EV and the underlying debate on sustainability

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another wave of innovation in the space of electricity power generation has been sweeping across the globe. This time, it is in the shape of compact battery within a vehicle. (A battery is installed in an electric Hummer as the US president tours the General Motors Factory ZERO electric vehicle assembly plant in Detroit, Michigan on November 17, 2021. - AFP)

AT every turn of the century, there will always be ground-breaking innovation that changes the landscape of civilisation. The profound changes while it starts small, will creep silently into our everyday life making it an eventual norm.

When Edison Electric Light Company, backed by renowned financier and banker John Pierpoint Morgan (J P Morgan) and the Vanderbilt family, first introduced to the world to the possibility of electricity power generation for household consumption, to many, it was too good to be true.

During Thomas Edison’s first public demonstration of his incandescent light bulb on Dec 31, 1879, he said, “We will make electricity so cheap that only the rich will burn candles.” Fifteen years later, 219 Madison Avenue, the home of J P Morgan became the first electrically lit private residence in New York on April 12, 1894.

It was during the wedding reception of Juliet Morgan and William Pierson Hamilton, in the presence of 1,000 people, that Thomas Edison’s vision became a reality.

Fast forward to today, another wave of innovation in the space of electricity power generation has been sweeping across the globe. This time, it is in the shape of compact battery within a vehicle.

Electric vehicles, commonly referred to as EV, is at the forefront of mass adoption by consumers. This is why the EV industry and its ancillary sectors are the flavour of the day when it comes to investment, financing and even policy making. So long as it concerns E.V, everyone wants a piece of the pie and no one seems to be able to get enough of it.

I even remembered this instance, where I was in an advanced discussion with a top German engineering and automation corporation to set up their autonomous driving and EV research centre in Malaysia.

Singapore’s Ministry of Industry and Trade officials then went all out to sway them to set up in the city state instead. The tax incentive and subsidies proposed by the Singapore government eventually proved too good to refuse.

Interestingly, finance is always at the heart of innovation. While financial professionals are not creative enough to invent or innovate a life-changing product for the betterment of the people, there is no doubt financial markets have an eye for innovation.

Of course, the tailwinds of climate change and sustainability movements around the world have become the fuel to fire this innovation.

From increasingly wide adoption of ESG standards by asset and funds, rise of Green bonds and sustainable financing programmes, nothing can stop this wave.

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