It's November 22, 2028 and Sarah, a young mother, gives her two children a kiss goodbye before buckling them into the driverless car that will bring them to school.

Sarah doesn't have a car and has no plans to buy one. Living in a suburb, she has run the numbers and the result is clear: It's much cheaper to order a car only when she needs one.

The "robo-taxi" has also made her life easier, but only after such vehicles upended the business models which carmakers had relied on for decades.

The revolution is already underway, with every major brand racing to create autonomous electric cars and trucks that will always be just a few clicks of a smartphone away.

Fully electric cars are expected to make up 12 percent of the global market in 2025, before jumping to 34 percent in 2030 and 90 percent by 2050, analysts at Bank of America Merrill Lynch forecast last month.