Your Strategy for Success in a Changing Automotive Industry
2020-2030 will be the decade of vehicle electrification. Technology breakthroughs and exhausted combustion engine potential will drive the market towards electrified vehicles (EVs). In addition, significant government announcements and major OEMs have recently set new aggressive global targets for EVs, dramatically changing the outlook and forecast for the automotive industry.
What does this mean?
- Electrification is coming at an accelerated pace (and the U.S. lags in the adoption of the technology).
- This is the biggest disruption in the history of the industry – more significant to suppliers than autonomous vehicles and connected cars.
- 75% of the Top 100 suppliers will be affected and electrification has the potential to be far more devastating to smaller suppliers.
- Suppliers need to act now – potential supplier strategies and business transformation will take 8-10 years to complete.
In this paper, we’ll provide an overview of the electrification disruption and its impact on the automotive industry. More importantly, we’ll outline what strategic decisions are necessary to not only survive but thrive in this changing environment.