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Exclusive: Mark Cuban says AI will soon be a baseline skill like email or Excel

by Priya Shah – Business Editor
written by Priya Shah – Business Editor

Cuban: AI is the New Business Baseline

Billionaire investor predicts AI fluency will be as essential as email in five years

Mark Cuban foresees a future where artificial intelligence isn’t just a tool, but a fundamental skill. He believes AI proficiency will soon be as critical for professionals as mastering email or Excel is today.

AI as a Business Essential

For business owners, Cuban asserts that AI competence will become a non-negotiable expectation. How effectively entrepreneurs leverage this technology, he explained in an email exchange with Fortune, will directly determine their future success. Within a decade, he anticipates AI assistants will significantly boost individual productivity, enabling “solo founders to become full teams.”

“If you’re not using [AI] to move faster or make smarter decisions, you’re behind.”

—Mark Cuban

Cuban views AI not merely as a skill to acquire but as a team member an entrepreneur can strategically invest in to foster growth. He emphasizes that the most successful entrepreneurs will be those who understand how to properly implement AI.

ZenBusiness Launches AI Assistant to Empower Entrepreneurs

The investor, who has a financial stake in ZenBusiness, a platform that has assisted over 850,000 small businesses, highlighted the company’s new AI agent, “Velo.” Launched this week, Velo is designed to automate critical business functions such as regulatory filings, market research, and website development.

ZenBusiness CEO and Founder Ross Buhrdorf described Velo as a “24/7 advisor” that provides personalized guidance using data submitted through user portals, at no extra cost. Cuban likened AI agents like Velo to having a “VP of ops, your first sales rep, your data analyst, and your legal counsel rolled into one, minus the payroll.” However, he cautioned entrepreneurs to treat AI like “your smartest intern: ask the right questions, but always double-check the answers.”

Overcoming Entrepreneurial Hurdles with AI

New business applications in 2024 saw a slight decrease from the previous year, with 5.12 million filings compared to 2023’s record 5.5 million. Despite this dip, entrepreneurial interest remains robust. Cuban identified “fear and funding” as the primary obstacles for aspiring business owners.

He believes AI agents can democratize entrepreneurship by mitigating the high costs associated with building a team. “AI isn’t just a tool, it’s leverage,” Cuban stated. “The most successful entrepreneur will understand how to properly use AI.” He concluded that AI will serve as a “multiplier,” empowering entrepreneurs rather than replacing them, advising, “Use it, but don’t be used by it.”

The U.S. Census Bureau reported that while pandemic-related factors like stimulus and remote work fueled record entrepreneurial activity in recent years, the drive to start new ventures continues. According to the Small Business Administration, businesses with fewer than 20 employees are responsible for creating a significant portion of new jobs in the United States each year.

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World

SVB Collapse: Racial Equity Concerns for Entrepreneurs Rise

by Lucas Fernandez – World Editor
written by Lucas Fernandez – World Editor

Silicon Valley Bank Collapse Spotlights Lending Disparities for Minority Entrepreneurs

Table of Contents

The recent collapse of Silicon Valley Bank (SVB) has amplified concerns regarding lending discrimination and its disproportionate impact on minority entrepreneurs. As customers rushed to withdraw funds last year,venture capitalist Arlan Hamilton intervened to assist founders of colour facing potential payroll crises,highlighting the limited options available to them.

SVB’s Role in Supporting Underrepresented Communities

SVB, once the 16th largest bank in the U.S., had a reputation for serving individuals from underrepresented communities. Its failure on March 10, 2023, has reignited discussions among industry experts about the persistent disparities in capital access for people of color. The bank was known for providing both social and financial capital to minority entrepreneurs, sponsoring events, and supporting initiatives like the State of Black Venture Report.

Did you Know? SVB provided banking services to nearly half of all venture-backed technology and life-sciences companies in the United States.

Challenges Faced by Minority business Owners

Experts emphasize that minority business owners have historically encountered obstacles in securing capital due to discriminatory lending practices. Data from the Small Business Credit Survey, a collaboration involving all 12 Federal Reserve banks, reveals significant disparities in loan denial rates.

In 2021, only approximately 16% of Black-led companies obtained the full amount of financing they sought from banks, compared to 35% of White-owned companies, according to the survey.

Pro Tip: Building strong relationships with community banks and credit unions can improve access to capital for minority entrepreneurs.

The Impact of SVB’s Collapse

The absence of SVB, which was known for saying “yes” when other banks declined, creates a void in the financial ecosystem for minority entrepreneurs. Joynicole Martinez, an entrepreneur and innovation officer for Rising Tide Capital, noted that SVB offered discounted tech tools and research funding to their clients.

Arlan Hamilton, founder of Backstage Capital, emphasized that entrepreneurs of color are frequently enough more vulnerable during economic downturns, stating, “We’re already in the smaller house… when a tornado comes by, we’re going to get hit harder.”

lending Disparities: A Statistical Overview

Metric White-Owned companies Black-Led companies
Percentage Receiving Full Financing (2021) 35% 16%
Loan approval Rate (Banks) Higher Lower

Addressing Lending Discrimination

Combating lending discrimination requires a multifaceted approach, including increased transparency in lending practices, targeted support programs for minority-owned businesses, and rigorous enforcement of fair lending laws. Financial institutions must actively work to eliminate bias and ensure equitable access to capital for all entrepreneurs.

What steps can be taken to ensure fair lending practices for all entrepreneurs?

How can the venture capital community better support minority-led startups?

The Ancient Context of Lending Discrimination

Lending discrimination against minority communities has deep roots in american history, stemming from discriminatory practices like redlining and other forms of systemic bias. These historical injustices have created lasting economic disparities that continue to affect access to capital for minority entrepreneurs today.

Understanding this historical context is crucial for developing effective strategies to address current lending disparities and promote economic equity.

The Role of Community Development Financial Institutions (CDFIs)

Community Development Financial institutions (CDFIs) play a vital role in providing financial services to underserved communities.These institutions are often mission-driven and focus on providing loans and other financial products to individuals and businesses that may not qualify for traditional bank financing.

Supporting cdfis is an important step in increasing access to capital for minority entrepreneurs and promoting economic development in underserved areas.

Frequently Asked Questions

What are some resources available for minority entrepreneurs seeking funding?

Several organizations and programs offer support to minority entrepreneurs, including the Minority Business Development Agency (MBDA), the National Urban League, and various venture capital firms focused on investing in diverse founders. Additionally, many local and regional organizations provide mentorship, training, and access to capital.

How can I identify and report discriminatory lending practices?

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If you suspect you have been a victim of discriminatory lending practices, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) or the Department of Justice. It is important to document all interactions with lenders and gather any evidence that supports your claim.

What are some strategies for building credit as a minority entrepreneur?

Building credit is essential for accessing capital.Strategies include securing a secured credit card, obtaining a co-signer, and making timely payments on all debts.Additionally, participating in credit-building programs offered by non-profit organizations can be beneficial.

Disclaimer: This article provides general information and shoudl not be considered financial or legal advice. Consult with a qualified professional for personalized guidance.

Share this article to raise awareness about lending disparities and support minority entrepreneurs. What are your thoughts on this issue? Leave a comment below!

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Business

Facebook’s Ex-CRO Coaches New Startups: Term Sheet Insights

by Priya Shah – Business Editor
written by Priya Shah – Business Editor

01 Advisors‘ David Fischer: From Google & Facebook Growth to Venture Capital

Table of Contents

David Fischer, who helped steer Google and Facebook through periods of explosive growth, is now channeling his expertise into venture capital at 01 Advisors. Fischer’s transition highlights a growing trend of seasoned tech operators joining the VC world to guide the next generation of startups. With a focus on Series B investments,01 Advisors aims to provide crucial support to companies navigating the challenges of scaling their operations.

From Tech Giant to Venture Capital

Before joining 01 Advisors, Fischer held key leadership roles at two of the world’s most influential tech companies. He served as vice President of sales at Google and later as Chief Revenue Officer (CRO) at Facebook. During his tenure, Facebook’s revenue surged from $750 million to over $100 billion, marking a period of unprecedented expansion. According to Statista, Facebook’s annual revenue in 2024 reached $142 billion, underscoring the company’s continued growth[[Statista].

Fischer’s move to 01 Advisors reflects a desire to leverage his operational experience to help startups navigate the complexities of scaling.He joined the firm full-time for its third fund,a $395 million vehicle launched in October 2023[[TechCrunch].

01 Advisors’ Investment Strategy

01 Advisors distinguishes itself by focusing primarily on Series B investments,a stage where companies have a viable product but need guidance on scaling their sales and operations. the firm typically invests around $15 million per company, providing not only capital but also strategic counsel.

Did You Know? Series B funding is often used to expand a company’s market reach and build out its team.

The firm’s founders, Dick Costolo (former CEO of Twitter) and Adam Bain (former CRO of Twitter), along with Fischer, bring a wealth of operational experience to the table. This experience allows 01 Advisors to offer practical advice on key challenges such as transitioning from founder-led sales to structured sales operations, building executive teams, and assessing the competitive landscape.

Spotlight on Portfolio Company: Haus

Among 01 Advisors’ portfolio companies is Haus, a San Francisco-based startup that helps businesses quantify the effectiveness of their marketing efforts.01 Advisors led a $20 million investment in Haus after insight Partners backed an earlier round. This investment underscores 01 Advisors’ interest in the advertising and marketing technology space.

Pro Tip: Measuring marketing effectiveness is crucial for optimizing ad spend and maximizing ROI.

The Impact of AI on Venture Capital

Fischer acknowledges that the rise of artificial intelligence (AI) is transforming the venture capital landscape. Founders are increasingly incorporating AI into their pitches,requiring investors to understand the implications of this technology. As AI continues to evolve, venture capital firms must adapt their strategies to identify and support companies that are leveraging AI effectively.

Key Takeaways

David Fischer’s transition from Google and Facebook to 01 Advisors highlights the value of operational experience in venture capital. By focusing on Series B investments and providing strategic counsel,01 Advisors aims to help startups navigate the challenges of scaling and achieve enduring growth.

firm Focus Fund Size Key Personnel
01 Advisors Series B Investments $395 Million (Third Fund) David Fischer, Dick Costolo, Adam Bain
haus Marketing Effectiveness measurement $20 Million (01 Advisors-led Round) N/A

What are the biggest challenges facing startups in the current market? How can venture capital firms best support their portfolio companies in navigating these challenges?

Evergreen Insights: The Evolution of Venture Capital

The venture capital landscape has evolved significantly over the past few decades. Initially focused on early-stage investments in technology companies, venture capital firms have expanded their scope to include a wider range of industries and investment stages. The rise of mega-funds and the increasing involvement of corporate venture capital arms have further transformed the industry.

According to a report by PitchBook, venture capital deal value reached $343.7 billion in 2024, demonstrating the continued growth and importance of venture capital in the global economy[[PitchBook].

Frequently Asked Questions

What is the primary focus of 01 Advisors?

01 Advisors focuses primarily on Series B investments, providing capital and strategic counsel to companies seeking to scale their operations.

who are the key personnel at 01 Advisors?

The key personnel at 01 Advisors include David fischer, Dick Costolo, and Adam Bain, all of whom bring extensive operational experience from leading tech companies.

What is the size of 01 Advisors’ third fund?

01 Advisors’ third fund has a total value of $395 million, which is being deployed into Series B investments.

How does 01 Advisors support its portfolio companies?

01 Advisors provides counsel on key challenges such as transitioning from founder-led sales to structured sales operations, building executive teams, and assessing the competitive landscape.

What is Haus, and what is 01 Advisors’ involvement?

Haus is a San Francisco-based company that helps businesses measure the effectiveness of their marketing efforts. 01 Advisors led a $20 million investment round in Haus.

How is AI impacting venture capital according to 01 Advisors?

According to David Fischer, the rise of AI is creating a new landscape for venture capital, requiring investors to adapt and understand the implications of this technology.

Disclaimer: This article provides general information and should not be construed as financial advice. Consult with a qualified professional before making any investment decisions.

Share your thoughts and insights in the comments below! Don’t forget to share this article with your network.

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Technology

Vibe Coding Wins OpenPlay Hackathon: Innovation Spotlight

by Rachel Kim – Technology Editor
written by Rachel Kim – Technology Editor

Teh hype around music-industry hackathons may ebb adn flow, but they remain an enduring source of good ideas.

It’s not about finding fully-fledged startups ready to soar, and more about exploring how new technologies put together in interesting ways can solve problems and/or open new pathways.

Asset relationship-management tech firm OpenPlay held its first hackathon last month during the Music biz conference in Atlanta. The ‘Break the Silos. Build the Future’ event focused on four times: social impact, dsps, distributors and sync.

40 people across 12 teams took part, with an array of industry partners providing APIs and datasets: the MLC, Audioshake, Pex, Luminate, Soundstripe, Sureel AI, AWS, Merlin, Musixmatch, Cyanite, Watchdog, Muserk, ACRCloud, Harmix, XPERI, Jaxsta, Unison, Music.AI and OpenPlay itself.

The winning project came from Berlin-based student Diego Leon, who built an app for AI-powered rights attribution.

It analyses the audio of a song, using Audioshake’s API to separate stems then Sureel’s API to detect patterns and assign attribution so that accurate royalties can be paid.

Second place went to two staff from the MLC – Serona Elton and Katrina Feyintola. They tapped into a very-2025 trend – ‘vibe coding’ courtesy of a platform called Lovable – to build a project called Samplify.

It identifies and generates metadata for sampled elements in songs, with the aim of making attribution quicker and more accessible.

Third place, meanwhile, went to participant Jake Hardy with an app called Field Notes.

It helps people take structured notes during meetings and sessions, tagging them with contextual metadata like artist names, genres and dates. As his follow-up blog post explains, Hardy also used vibe coding to build his project.

He suggested that there may be some tensions around use of these tools. “I think we’ll see a fracture. The growing hostility towards vibe coding amongst traditional developers is obvious,” wrote Hardy, who thinks events may split between ‘AI-free hackathons’ and more casual and accessible vibe-coding contests.

openplay’s co-founder and chief client officer Edward Ginis thinks that the emergence of vibe coding is positive for the music industry, however.

“The most profound lesson was how AI has democratised innovation in ways I completely underestimated. Watching participants use AI-powered advancement tools to rapidly prototype ideas shifted my entire outlook on who can be an innovator in music technology,” he told Music Ally.

“The trend I observed was participants focusing on rapid ideation and experimentation rather than getting bogged down in technical implementation details.”

“This ‘vibe coding’ approach meant ideas could flow from anyone – music supervisors, A&R executives, artist managers – not just traditional developers.the fact that two winners weren’t software developers proved that domain expertise and creative problem-solving often matter more than pure technical skills.”

Ginis thinks that there’s a wider lesson to be learned here to: that if the music industry has an innovation bottleneck, it’s less a lack of ideas than “accessibility to the tools needed to build solutions”.

He thinks AI can remove that barrier: “which means we’re about to see an explosion of music-focused innovation from unexpected sources… future music industry hackathons should actively recruit non-technical participants and provide AI-powered development tools as standard resources”.

Ginis added that his aim with the hackathon was to prove that there is still an appetite for these kinds of events and this type of collaboration within the music community.

“My expectations were modest – I wasn’t sure if we’d get enough technical talent to make the projects viable, and I was worried that the music industry’s risk-averse culture might limit participation,” he said.

“But we ended up with nearly 40 participants forming 12 teams, and we were blessed to have the invaluable support of an notable coalition of industry-leading sponsors, who contributed APIs, datasets, and hands-on guidance to help the teams succeed. It was a success!”


Music Industry Hackathons: Fueling Innovation and Democratizing Music Tech

Music industry hackathons continue to be a valuable source of innovation, even as trends shift. These events are less about launching fully-fledged startups and more about exploring how new technologies can be combined to solve existing problems and create new opportunities.

OpenPlay’s “Break the Silos. Build the Future” Hackathon

Asset relationship-management tech firm OpenPlay recently hosted its first hackathon during the Music Biz conference in Atlanta. The event, themed “Break the Silos. Build the Future,” focused on social impact,DSPs,distributors,and sync.

Forty individuals across 12 teams participated, supported by industry partners providing APIs and datasets. These partners included the MLC, Audioshake, Pex, Luminate, soundstripe, Sureel AI, AWS, Merlin, Musixmatch, Cyanite, Watchdog, Muserk, ACRCloud, Harmix, XPERI, jaxsta, Unison, Music.AI, and OpenPlay.

Winning Projects Showcase AI and Innovation

The winning project was developed by Diego Leon, a Berlin-based student, who created an AI-powered rights attribution app. The app analyzes a song’s audio, using Audioshake’s API to isolate stems and Sureel’s API to detect patterns and assign attribution for accurate royalty payments.

Did You Know? The global music industry generated $26.2 billion in revenue in 2022, marking the seventh consecutive year of growth [1].

Second place was awarded to Serona Elton and Katrina Feyintola from the MLC. They utilized “vibe coding” via the Lovable platform to build Samplify, a project that identifies and generates metadata for sampled elements in songs, aiming to streamline attribution.

Jake hardy secured third place with Field Notes, an app designed to help users take structured notes during meetings and sessions, tagging them with contextual metadata such as artist names, genres, and dates.

The Rise of “Vibe Coding” and its Implications

Hardy noted potential tensions surrounding the use of “vibe coding” tools, suggesting a possible divide between “AI-free hackathons” and more accessible vibe-coding contests.

Edward Ginis, co-founder and chief client officer at OpenPlay, views the emergence of vibe coding positively. He stated that AI has democratized innovation in ways he underestimated, allowing participants to rapidly prototype ideas.

Pro Tip: When participating in a hackathon, focus on rapid ideation and experimentation rather than getting bogged down in technical implementation details.

Ginis believes that the music industry’s innovation bottleneck lies in the accessibility of tools rather than a lack of ideas. He anticipates an explosion of music-focused innovation from unexpected sources as AI removes these barriers.

The Future of Music Hackathons

Ginis advocates for future music industry hackathons to actively recruit non-technical participants and provide AI-powered development tools as standard resources.

His aim with the OpenPlay hackathon was to demonstrate the continued appetite for these events and collaboration within the music community. The event’s success, with nearly 40 participants forming 12 teams and support from industry sponsors, validated this belief.

Hackathon Metric Value
participants 40
Teams 12
Focus Areas Social Impact, DSPs, Distributors, Sync

What innovative music tech solutions would you like to see developed at future hackathons? how can the music industry better support and encourage participation in these events?

Evergreen Insights: The Enduring Value of Music Hackathons

Music hackathons provide a unique surroundings for fostering creativity and problem-solving within the music industry. By bringing together individuals from diverse backgrounds and skill sets,these events encourage collaboration and the development of innovative solutions to industry challenges. The focus on rapid prototyping and experimentation allows participants to explore new ideas and technologies without the constraints of traditional development processes.

FAQ

Why are music industry hackathons important?
Music industry hackathons serve as a breeding ground for innovative ideas and solutions, fostering collaboration and pushing the boundaries of music technology.
What is ‘vibe coding’ and why is it relevant to music hackathons?
Vibe coding refers to the use of AI-powered development tools to rapidly prototype ideas. It’s relevant because it democratizes innovation, allowing individuals without extensive technical skills to participate and contribute to music technology development.
What kind of projects are developed at music hackathons?
Projects developed at music hackathons range from AI-powered rights attribution apps to metadata generation tools for sampled music, and platforms for structured note-taking during music-related meetings.
Who typically participates in music industry hackathons?
Participants include students,music supervisors,A&R executives,artist managers,and developers,creating a diverse mix of expertise and perspectives.
How do music hackathons contribute to innovation in the music industry?
By providing access to tools and fostering collaboration, music hackathons remove barriers to innovation, enabling individuals from various backgrounds to create solutions and drive progress in the music industry.
What role does AI play in the future of music hackathons?
AI is expected to play an increasingly significant role, with future hackathons actively recruiting non-technical participants and providing AI-powered development tools as standard resources.

Share your thoughts and experiences with music hackathons in the comments below! Subscribe to World Today News for more updates on music industry innovation.

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Business

DEI Backlash: Billionaire VC Defies Critics with Diversity Focus

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

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Theresia Gouw Makes History as America’s First Billionaire Female Venture Capitalist



Japan’s Ultra-Small EV Revolution: KG Motors’ Mibot Challenges market Giants

CITY – May 3, 2024 – KG Motors’ Mibot, an ultra-small EV from japan, is experiencing a surge in popularity, challenging the dominance of larger automakers. The compact EV’s appeal stems from its cost-effectiveness and suitability for urban environments,mirroring consumer shifts. The company’s CEO aims to emulate the Honda Super Cub’s success. This innovative approach may redefine the EV landscape.

Japan’s Ultra-Small EV Revolution: KG Motors’ Mibot Challenges Market Giants

While electric vehicle (EV) adoption in Japan lags behind global trends,a hiroshima Prefecture startup,KG Motors,is experiencing a surge in orders for its single-seater,ultra-small EV,the mibot. This rise in popularity reflects changing transportation needs driven by increased environmental consciousness and an aging population.Developers are focusing on creating a practical “national car” suitable for everyday use.

The Mibot: Compact and Cost-Effective

The Mibot EV, developed by KG Motors in Higashihiroshima City, is a compact vehicle measuring approximately 2.5 meters in length and 1.1 meters in width, with a weight of 430 kg. It can be fully charged in about five hours using a standard household outlet, providing a range of 100 kilometers. The price, including tax, is 1.1 million yen.

Did You Know?

the Mibot’s compact size and electric powertrain contribute to lower running costs compared to traditional gasoline vehicles. This makes it an attractive option for budget-conscious consumers.

Demand Outstripping Expectations

KG Motors is currently finalizing the model specifications for mass production. The company reports having already received orders for over 2,200 of the 3,300 units slated for delivery by June 2027. This demand surpasses the number of EVs sold by Toyota Motor in Japan last year, which was approximately 2,000 units.

Legal changes Fueling popularity

Recent legal changes classifying the Mibot as a “Category 1 Motorcycle” (Diecar) have contributed to its popularity. The Mibot offers advantages over traditional mopeds, such as a roof and a maximum speed of 60 km/h, while avoiding the need for two-stage right turns.Furthermore, it is exempt from vehicle inspections, and its automobile tax is comparable to that of a motorcycle, resulting in lower maintenance costs.

Pro Tip

Consider the Mibot as an option to a moped if you value weather protection and increased stability. The legal benefits and lower running costs can make it a smart choice for urban commuting.

A New Value Proposition for EVs

While major automobile manufacturers worldwide are transitioning to EVs to reduce carbon dioxide (CO2) emissions, challenges related to price, charging time, and range have slowed sales.KG Motors aims to attract users by minimizing vehicle performance to essential requirements and reducing costs, possibly demonstrating a new value proposition for EVs.

Production Scale and Ambitions

KG motors plans to commence production at its new factory in Higashihiroshima City starting in October. Full-scale mass production is scheduled to begin next year, with the goal of achieving profitability quickly. The company aims to produce 10,000 units per year in the fiscal year ending June 2016, a figure comparable to the sales volume of brands like Jeep and Porsche in Japan last year.

The “Reiwa Super Cub” Vision

chief Executive Officer Kusunoki Kazunari, who has experience in starting a company that handles custom car parts and founded KG Motors in 2022, explained that the advantages of mibot are that it allows you to find the “most flavorful” thing about cars and mopeds.

Kusunoki Kazunari,CEO,KG Motors

Kusunoki aims to emulate the success of Honda motorcycles,which achieved a cumulative production volume exceeding 100 million units,envisioning the Mibot as a “Reiwa Super Cub,” referencing the iconic Honda Super Cub motorcycle that gained popularity in post-war Japan due to its convenience.

Evolving Mobility Landscape

Recent revisions to vehicle classifications under the Road Transport Vehicle Act and the Road Traffic Act have led to the emergence of various small mobility options, including electric kickboards and electric bikes with pedals. Consumer preferences are diversifying, making it uncertain whether the Mibot will achieve widespread popularity like traditional passenger cars and motorcycles.

According to Kusunoki, most of the existing ultra-small four-wheel evs are treated as two-seater light passenger cars, so they will not be able to receive vehicle inspections or tax benefits.

Kusunoki Kazunari, CEO, KG Motors

Addressing Rural Transportation Challenges

As Japan’s labor force shrinks due to aging and young people migrate to cities, rural public transportation systems, such as railways, buses, and taxis, are declining. This makes it increasingly arduous for elderly individuals to travel. Kusunoki notes that public transportation is becoming “devastating” in rural areas,including Hiroshima,where KG Motors is headquartered,leading to a situation where residents “are unable to live without cars.”

Cost-Effectiveness as a Competitive Edge

With stagnant incomes, car maintenance costs significantly impact households. Kusunoki believes that the Mibot’s combination of convenience and low cost provides a competitive advantage.

Toyota’s “Multipathway” strategy

Toyota, japan’s largest automobile manufacturer, has adopted a “Multipathway” strategy, focusing on developing a wide range of products, including hybrid vehicles, fuel cell vehicles, and gasoline vehicles, rather than solely focusing on EVs. This reflects a more cautious approach to electric vehicles compared to some European manufacturers.

Slow EV Adoption in Japan

The acceptance of EVs in the Japanese market has been gradual. According to Bloomberg NEF (BNEF), EVs accounted for approximately 3.5% of total vehicle sales in Japan in 2023, significantly below the global average of 18%.

Challenging the skepticism

Kusunoki also acknowledges that he feels that there is a big rejection reaction to EVs in Japan. Many people seriously believe that evs will not become popular, saying that “what Toyota said was right,” and that EVs will not become popular, but he has declared that he “doesn’t think so at all.”

Kusunoki Kazunari, CEO, KG Motors

Frequently Asked Questions (FAQ)

What is the range of the KG Motors Mibot?
The Mibot has a range of 100 kilometers on a full charge.
How long does it take to charge the Mibot?
It takes approximately 5 hours to charge the Mibot using a household outlet.
what is the top speed of the Mibot?
The Mibot has a maximum speed of 60 km/h.
What is the price of the Mibot?
The mibot costs 1.1 million yen, including tax.
When will mass production of the Mibot begin?
Full-scale mass production is scheduled to begin next year.
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