Future Trends in the Automotive Industry
The automotive industry faces a major challenge: transitioning to electric vehicles while meeting regulations. Established OEMs and new tech players race to expand capacities, form alliances, and lead in electrification and software.
It is a no brainer that the major challenge for the Auto industry is the transition to the electrification of the drive train whilst at the same time complying to the requirements of the regulators.It is clear that there are more major trends in the industry such as autonomous driving and digitization, however pressure is on electrification due to legal requirements.
What is the industry doing at present?
There are essentially two major activities for both the established and the new players in the industry.
- Preparing the capacities for electrical vehicles (EV’s)
The main markets for EV’s are the US, China and Europe, and due to regulations, it is not surprising that most of the capacities are set up in these global regions.
The established players such as VW or Ford are transforming their current factories for ICE-vehicles into new factories for electrical cars (VW already finished its plant in Zwickau, Germany; Ford just announced transforming its plant in Cologne, Germany (investing 1 billion €).
The new players, such as Tesla, will increase their capacity by extending their footprint. Besides their first plant in Freemont, California, they did setup a new plant in Shanghai, China (start of production January 2020)…
Create an account to continue reading
Create AccountAlready have an account? Sign in
Need an expert in this space?
Talk to an Industry Expert
Knowledge Ridge connects decision-makers with carefully vetted subject matter experts for one-on-one calls, research sprints, and advisory engagements — across 11 sectors and 163 sub-industries globally.
Comments
No comments yet. Be the first to comment!