Challenges in the automotive industry
The automotive industry is currently facing a number of pressing challenges, driven by technological change as well as social and regulatory factors.
- Electrification and Alternative Propulsion: The transition from internal combustion engines to electric and other alternative powertrains (such as hydrogen fuel cells) is one of the biggest challenges. This includes the development of new vehicles, the establishment of a suitable recharging infrastructure, and the management of the associated high investment costs.
- Autonomous driving: The development and implementation of autonomous driving technologies is another key area. This will require significant research and development efforts, overcoming legal and safety barriers, and gaining consumer confidence in the technology.
- Digitization and Connectivity: The increasing digitalization and connectivity of vehicles requires significant investments in software and IT infrastructure. Automakers must address issues such as data security and privacy, user experience, connectivity services, and new business models.
- Sustainability and compliance: The automotive industry must improve its environmental footprint and ensure compliance with stricter emissions and environmental standards. This includes aspects of the circular economy, such as recycling and the use of sustainable materials, as well as reducing the carbon footprint throughout the supply chain.