The automotive and transportation industry is in the middle of its largest transformation in decades. External pressures, such as changing consumer preferences, regulations and more are driving forces behind this disruption. But internal pressures play an equally significant role. The drive for new business models, improved vehicle development processes and, of course, the pursuit of cutting edge vehicle technologies each contribute to the reshaping of a hundred-year-old industry.
In this new series of the Future Car podcast, I speak with Nand Kochhar about the trends and overriding forces in the automotive industry today. In the first episode, we talk about the state of the industry and introduce the idea of the ‘transportation revolution’ that has taken hold in the automotive industry.
To kick off the episode, I ask Nand to describe the most significant changes he has witnessed over his thirty-year career in the automotive industry. He highlighted two trends: globalization throughout the industry, and advancements in autonomous and electric vehicle technologies. The automotive industry is becoming truly global, with companies from India, China and other countries becoming major players in the market. Meanwhile, electrification and automated driving capabilities are taking hold, driving increased vehicle complexity and demanding new methods for automotive design and production.
Then, Nand and I discuss how digitalization is helping companies remain competitive in this changing landscape. A key benefit, in a word, has been flexibility. As Nand put it, “You still need people in your plants, but if you have a digital transformation journey as a foundation, then you’re able to switch things and play all those scenarios…”
And later in the episode, we dive into the development of new partnerships in the automotive industry, how infrastructure plays a role in electric vehicle adoption, and how companies of various sizes are responding to the challenges of today’s automotive industry. You can listen to first episode of our transportation revolution series below, or by subscribing to the Future Car podcast on all major platforms. Stay tuned for more from Nand and I in the coming weeks!