ARTICLES
The Future Of Automotive And Mobility
The automotive industry is shifting gears. Global disruption, technological advances, and changing consumer behaviors are altering the auto industry on many levels all at once.
The traditional business model of designing, manufacturing, selling, servicing, and financing vehicles continues.
Learning From Continuous Disruption
During the initial pandemic lockdowns, the automotive industry was hit hard, as global supply chains ground to a halt, manufacturers and dealers temporarily closed, and people stayed home and drove less.
Despite that initial slowdown, however, industry experts say the pandemic actually accelerated progress of digitalization in the automotive sector.
This is not the first, or even the last disruption that the auto industry has seen. Some believe that the industry, particularly automotive suppliers, learned a lot from the economic hardships of the past.
Disrupt or be Disrupted
The availability and adoption of advanced technology solutions is driving the majority of the underlying trends in the auto industry.
Connected cars, sensors, electrification, and new business models (including mobility-as-a-service) all take advantage of advanced technology solutions. That’s where industry experts say the automotive industry needs to focus going forward.
The entire industry, from suppliers to automakers, is challenged to keep existing operations profitable, while simultaneously building out capacity to tackle these new innovations.
An Innovative Mindset is Key
While many automakers and suppliers learned from the past to help them survive recent disruptions and make their existing operations more efficient, some industry leaders say that flexibility and innovation will be critical when it comes to the unique challenges facing the future direction of the automotive industry.
The Future of Mobility
What will the future of mobility look like in the real world? There is so much collaboration and innovation in this space, that e-mobility innovations are already underway.
Here are a few examples:
1.Cars that are self-aware and provide a connected platform for new business models.
2.Vehicles with hundreds of Internet-connected engine control units (ECUs) and sensors, providing data and insights.
3.The capability to bundle vehicle sales with new subscription-based offerings for parking, electric vehicle (EV) charging, rideshare, and car share services.