New Delhi: With global disruptions, technological advancements and new business models, the automotive industry is shifting gears.
While the traditional operation of designing, manufacturing, selling, servicing and financing vehicles continues, the automotive industry is moving into a new world, driven by sustainability and changing consumer behavior, encompassing electric vehicles, self-driving cars, mobility fleet sharing and always connected.
A panel of senior industry leaders agreed in their discussion of emerging and transformative megatrends that a transformation in the dynamics of urban mobility is primarily user-centric.
Major changes in the way people move in urban areas are already underway, but the trend will accelerate further in the next decade, with electrification, autonomous driving, smart and connected infrastructure, modal diversity and a integrated, resilient, shared mobility. , and sustainable – fueled by disruptive business models, they said while outlining their take on the topic “Mobility Megatrends 2050”.
“When we talk about mobility, everyone sees serious strains on the ecosystem, and that’s why sustainability is becoming a key driver for our industry. Sustainable, smart and resilient mobility will help create a convenient, connected and friendly,” Lalit Arora, India Head, Connected Automotive Solutions, Tata Communications, said.
He further explained that modern vehicles generate an array of data to unlock significant value across the entire value chain.
“Vehicle data has to go through an enormous amount of analysis, customization and improvisation, which has motivated us to invest in more compelling strategies that can have a profound impact on individual drivers and we are doing our part to make them more sustainable,” Arora added. .
Agreeing with this view, Martin Schwenk, MD and CEO of Mercedes-Benz India, said electric vehicles are big boons.
“Electrification plays an important role in creating eco-friendly mobility solutions. It has become an imperative for the automotive industry. We bring out new technologies for the global market from our R&D centers in Bangalore and Pune to support the global development of luxury in the field of sustainable technology,” he said.
Schwenk pointed out that technological disruption is happening not only on the product side, but also on the retail side. “I strongly believe that retail can also be disrupted by advances in technology to improve the customer experience, and I see the next megatrend coming into this space,” he added.
On changing consumer preferences, Schwenk said, “Luxury today doesn’t just mean sitting comfortably in a car or being driven. It involves a lot of customization. As an OEM, it’s extremely important for us to move forward in the areas of connection and autonomous offers.”
Going forward, things are going to be a lot more modular, said Jayant Davar, co-president and CEO of Sandhar Technologies. Component actors will need to take a truly collaborative approach, he added.
“It is crucial for the supplier base to introspect that along with technological progress comes the need for greater collaboration which is a powerful catalyst for innovation in the field of electric vehicles. We continue to work closely together with OEMs to facilitate future growth,” Davar said. said.
Stressing the importance of including startups in the value chain, he said collaborative partnerships with startups would help integrate new systems into vehicles.
“Partnerships with startups will create more cohesive vehicles, as manufacturers can focus on the actual production of vehicles, while startups can focus on the software and computer systems inside the vehicle,” Davar added. .