The quantum leap in mobility technology that EVs represent

For too long, the narrative around electric vehicles (EV) has been dominated by their environmental benefits. EVs offer a critical pathway to cleaner air and reduced carbon emissions. However, this focus, while important, often overshadows the deeper, more disruptive technological transformation that EV represents - a powerful force poised to redefine an entire mobility industry. It is a profound paradigm shift in mobility technology, fundamentally transforming how vehicles are developed, deployed, and experienced and eventually shorten the path to building a higher performance vehicle at a lower cost which ultimately benefits overall consumers.

From Mechanical Limits to Software Agility: The Smartphone Analogy

Do you remember the heyday of Nokia? Physical keypads, monochrome screens - often requiring multiple buttons presses just to compose a message or send a photo. To add a new function, like a better camera or a new game, required extensive hardware development and a new model launch. Iteration was slow, costly, and primarily hardware driven.

Then came the smartphone. Suddenly, the phone became a"software-defined device." Want a new feature? Download an app. Want better performance or security? An Over-the-Air (OTA) software update from the operating system (iOS or Android) could transform your phone's capabilities overnight, with minimal cost. The development cycle accelerated exponentially, driven by code, not just metal and plastic.

The Mobility Industry's "Smartphone Moment": The EV Paradigm

Traditional internal combustion engine (ICE) vehicles are the "Nokias" of the mobility world. They are mechanical marvels, complex arrays of thousands of moving parts. Every significant performance enhancement, efficiency gain, or new safety feature typically demands costly, time-consuming hardware re-engineering. Major changes are locked into new model launch, requiring massive re-tooling and physical production lines to adapt.

The electric vehicle, like smartphone, however, is fundamentally different. It is inherently a software-defined vehicle. Its motors, battery management systems, braking, and even aspects of its steering and suspension are increasingly controlled by a sophisticated software layer. This architectural shift unlocks unprecedented agility and speed in development: like a smartphone receiving an OS update, an EV can gain entirely new capabilities, performance enhancements, or critical safety updates through over-the-air (OTA) software deployments. This means EVs can continuously improve throughout their lifespan, with features being refined and new functionalities introduced. Ultimately, this helps reducing cost and time involved in product evolution compared to traditional mechanical changes.

The Future is Software-Driven

This technological paradigm shift means the future of mobility will not just be cleaner, but profoundly smarter, faster, and ultimately cheaper to evolve. The traditional constraints of hardware-locked designs are dissolving, replaced by an agile, software-defined ecosystem that enables continuous improvement and rapid innovation. This is why we firmly believe EVs represent the undeniable future of transportation, offering unprecedented value and utility to consumers.

Relentless pursuit of innovation

In our very first due diligence interview session with Son Nguyen, founder of our portfolio company Dat Bike. I had questioned him about a new brake feature on an early model - Weaver, which required customers to adapt their riding behaviour. I asked, "Why don't you just keep the braking function so it doesn't require effort to change behaviour?" Without hesitation, Son replied, "If everyone thinks like you, there would be no Apple of the world." It's this relentless pursuit of innovation, even when it demands a shift in user habits, that positions Dat Bike to be a true leader in this new, technologically advanced era of transportation.

‍