Electric vehicles (EV) are more than just trendier and sleeker cars. They represent a new era of sustainability in mobility and transportation. The transportation sector accounted for 27% of greenhouse gas emissions in 2020 alone. As sustainable practices take center stage in modern living, the future of the mobility industry is heading towards being 100% electric.

Imagine a future where everything runs on electricity, from cars to planes. Your way of life is rebuilt on a cleaner, safer, and more efficient structure. Smarter modes of transportation enable you to work faster and easier.

By choosing an electric vehicle, you not only contribute to a greener environment but also enjoy better performance and more control over rising gas prices. Electric planes make global travel more efficient, reducing the carbon footprint associated with traditional air travel. While still in its early stages, the shift to electric transport is a significant step towards reducing carbon emissions while meeting everyday transportation needs.

Also Read: How electric mobility startups are addressing climate change in Asia

The ecosystem is on the brink of a revolution in future technology, with both public and private organizations recognizing the opportunities in this evolving landscape.

MIH initiatives to engage startups in the industry

As a leading electronics company globally, Foxconn is well-positioned to drive the future of mobility with EVs, building on its reputation for assembling essential devices like the iPhone. By leveraging cutting-edge technology, Foxconn aims to enable the transition to electric vehicles.

The MIH Consortium, spearheaded by Foxconn, is at the forefront of fostering relationships with startups and tech innovators in the electric vehicle industry. MIH is building an open EV ecosystem that encourages collaboration among industry players. Its mission is to develop key technologies, establish reference designs and standards, and facilitate alliances to lower barriers to entry, accelerate innovation, and shorten development cycles.

This marks the beginning of MIH’s efforts to collaborate with startups in the EV sector in Southeast Asia. Recently, MIH launched the MIH for Startups program, offering support to startups working on various EV-related areas such as Electric Powertrain Systems, Battery and Energy Management, and more. The program provides startups worldwide with mentoring, pilot programs, funding, and co-branding opportunities alongside Foxconn.

Techstars’ role in driving public-private collaboration for EV expansion

To further drive innovation in the EV space, MIH is partnering with Techstars, a global network that supports entrepreneurs in their endeavors. Through initiatives like the MIH x Techstars Startup Catalyst program, the collaboration aims to deepen engagement with EV-related startups worldwide.

Tricia Martínez, Managing Director of Techstars Industries of the Future Accelerator, emphasizes the importance of public and private sectors working together to meet carbon emission targets. Techstars’ mission is to foster success among entrepreneurs by connecting startups, investors, corporations, and cities to build thriving startup communities. Collaboration across the EV ecosystem is essential to driving innovation and achieving meaningful impact.

Also Read: Techstars, Crestone VC join Filipino HR-tech startup Betterteem’s financing round

Tricia highlights the urgency of coming together as an ecosystem to make electrification a reality. With time running out to make a lasting difference in the environment, collective action is crucial. Techstars aims to bring together diverse stakeholders to drive global adoption of new technologies.

To solidify this partnership, Tricia is joining as an Advisor to the Board at MIH. This collaboration marks the beginning of a thriving ecosystem focused on advancing EV technology. Through collective efforts, the goal is to mobilize people, change behaviors, and drive widespread adoption of new technologies.

Conclusion

Electrification is the future of the transportation industry, no longer just a distant possibility but a tangible reality. It is imperative that the ecosystem acts quickly to make a meaningful impact on the environment around us.

Join us at the MIH Demo Day on November 8, 2022, in Taipei to witness the future of EV startups with Techstars + MIH. Visit the MIH website for more information.

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This article was first published on October 25, 2022

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