Examining The Electric Vehicle Industry through Stefan Krause’s Eyes
Stefan Krause’s expertise with motor vehicles places him in a unique position to give insights about their future. Recently, he asserted that the number of electric vehicles (EVs) in use would surpass those with combustion engines in seven or fewer years. However, he pointed that the revolution hinged on lowering the cost of owning an EV.
Additionally, Stefan Krause predicts that self-driving vehicles will receive massive acceptance over the next five years. He opines that autonomous automobiles will have widespread use in low population communities before finding a place on busy highways. Krause highlights one advantage of self-driving cars as having fewer accidents.
To bring his vision of the future of EVs to life, Stefan Krause founded Canoo. The company pioneered a subscription model, where car owners could make monthly payments and avoid the high initial cost of owning a car. Also, Canoo designed a spacious vehicle that included no trunk.
Stefan Krause expects the EV industry to encounter challenges such as the reluctance of established combustion engine companies to embrace change. Further, there may be a shortage of funds available for investments in EVs. However, with solutions like special purpose acquisition companies (SPACS), the future of electric vehicles remains bright.
Over a decades-long career, Stefan Krause served as an executive in different corporations. He was a CFO at BMW and a CEO at Deutsche Bank. Currently, he is a CFO in a SPAC named Levere Holdings Acquisition Corp.