"The rise of electric vehicles threatens the car industry and is now openly acknowledged by major automobile OEMs globally. The maintenance costs of EVs are lower than that of ICE vehicles due to fewer moving parts and simpler designs. This will result in the entire vehicle repair market, from spares to servicing, shrinking. This segment has been a significant portion of automotive OEM revenue and profit. As a result, we will see more OEMs getting creative on how to maximize their revenue and profit, adopting newer business models from bundling digital, safety and mobility services to leasing, rentals, car-sharing and more." – Brady Wang