Electrification, hyper connectivity and modular design are driving innovation in the automative industry, shaping the future of mobility in the years ahead.
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We still believe that our customers love the experience of driving
Luxury brands have a fine line to tread when it comes to innovation. While electrification may be disrupting the mass market, luxury auto brands like Jaguar Land Rover must be careful not to upset discerning customers looking for an unbridled driving experience.
Top five take-outs
1. Absorb and apply. Car functionality has changed minimally over time, but driving is about more than getting people from A to B.
2. Get the balance right. Think about what your brand means to the sector and adapt your approach to new technologies.
3. Sustainability is sexy. Brands like EKOCYCLE are changing the definition of luxury.
4. No quick fix. The future of the auto isn’t about one powertrain. Diesel and hybrid still have a big part to play, along with electrification.
5. Think big picture. The car’s engine is an apt metaphor for business in the age of convergence. The modern business must be thought of as the sum of its component parts.
It’s really boom time for the industry
DriveNow, a joint car sharing venture from BMW and rental company SIXT, has 500,000 customers in 8 major cities. Director Joseph Seal-Driver thinks this model represents the mass-market urban future.
Top five take-outs
1. Get used to sharing. In The New Value Economy, ownership is no longer an ideal.
2. Plot the adoption curve. Car sharing has gone beyond the early adoption phase, says Seal-Driver
3. Think long term. By backing DriveNow, BMW have made an Immortal Brand bet on the direction of the future.
4. Look at the urban ecosystem. Car sharing is a fundamentally urban activity designed to work with other forms of city transport.
5. Expect electrification. At the FT Future of the Car Summit, everyone was thinking about electric cars.
Formula E will drive innovation in the same way that motor racing always has
Six races into the inaugural ePrix season and already the fledgling sport is changing perceptions about the electric vehicle. A hotbed of innovation, ePrix will drive the industry forward in much the same way as its petrol guzzling cousin Formula 1.
Top five take-outs
1. Stay sceptical. Two of the biggest concerns for electric vehicles are yet to be solved.
2. Think service. One thing auto manufacturers agree on is that the future of the car is about mobility.
3. Think wider picture. Vehicles of the future will be part of the megacities they navigate.
4. Testing matters. Don’t be afraid to take risks to drive innovation.
5. Don’t rely on one solution. Fossil fuels will eventually be replaced by biofuels that will offer an alternative energy carrier to electric and hybrid.
I envisage that the car will be connected from every bolt, to every component in one holistic mass of data
The possibilities of the connected car are limitless. But for brands such as Siemens the idea of a fully connected vehicle holds enormous potential for the value supply chain, offering unprecedented levels of optimisation and customer choice.
Top five take-outs
1. Think modular. Look to Growth Products for lessons about sustainability, material costs and choice.
2. Offer greater customisation. Consumers are looking to express their individuality through the products they buy.
3. Listen to your data. Amassing data is only have the battle, learning how to apply it is where value can be derived.
4. Re-evaluate your physical space. Think about how your bricks-and-mortar space can work effectively with your online channels.
5. Prepare for open-source. Secrecy is a big turn off for consumers. To earn a place in their hearts think Altruvation.