Electric Vehicle & Automobiles

The mobility industry has been striving for greater sustainability for years, and one solution to this global demand is the electric vehicle (EV). The automotive industry is being shaken up in unexpected ways due to the increasing pressure for OEMs to address the changing industry and customer landscape, particularly in terms of sustainability. The rise of younger consumers, who are inclined to use digital channels to stay updated on the latest technology developments and have a greater concern for sustainability, is also driving the shift towards EVs.

The circular economy is also pushing the automotive industry to create environmentally-friendly vehicles along their whole lifecycle, from green production using renewable energies to responsible battery disposal and chemical recycling. As a result, fast-evolving technologies are reshaping the passenger vehicle through the Connectivity, Autonomous, Sharing and Electrification (CASE) trends. The evolution of EVs is leading to a radical change in three key areas of the automotive industry.

To remain competitive and manage the era of the electric engine, OEMs will need to focus on a number of key areas, including engineering, manufacturing, and recycling. Adopting a new e-value chain is important, not just from the engineering and manufacturing side, but also from the user perspective. OEMs must also create a new customer experience that considers charging time and environmental impact. Finally, OEMs must discover a new ecosystem as new competitors disrupt the automotive status quo and invest in developing a robust EV ecosystem and charging infrastructure.