“Klaus Schwab announces the end of car ownership.”

As founder and executive chair of the World Economic Forum, Klaus Schwab doesn’t have the power to end private car ownership anywhere, let alone around the world. 

But a recent Instagram post suggests Schwab has that clout, claiming that he has announced “the end of car ownership.” 

A video clip shows Schwab saying: “You will use an app like Uber, but not anymore to call some driver but an automatically guided car, a self-driven car, will come to your hotel or wherever you are and will bring you to the airport. Los Angeles is one of the cities with the heaviest traffic who told me in 2030 Los Angeles will be private car driven free. And this will allow to transform highways into parks and other public spheres.”

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The clip is authentic, from a speech Schwab gave at the 2015 World Governments Summit, an event aimed at inspiring and shaping future generations of governments. 

Schwab’s address was titled,”The New Global Context and Its Impact on the Role of Government.”

But it doesn’t amount to an announcement about the end of car ownership. 

We rate that claim False.