Buckle up, we’re in for quite a ride as the industry speeds up

The predicted proliferation of electric vehicles (EVs) is set to have a huge effect on the automotive sector and related industries.

It’s not an exaggeration to say that we’re on the cusp of the biggest changes to the automotive landscape since the invention of the combustion engine. The implications are only just beginning to dawn on the industry, but one thing is for sure: the market will be almost unrecognisable.

The focus of buying a car is drifting away from the pure performance of driving and more towards entertainment and experience within the car

The forecast from Modis

At Modis we’re always looking ahead to developments in the converging worlds of IT, Engineering and Life Sciences together and how people and businesses can make the best advantage of the opportunities change will bring.

That’s why we commissioned a report from a wide-ranging survey of automotive executives, along with viewpoints from industry experts and academics. It’s a good snapshot of where the industry thinks we are now, and where we may be in the very near future.

The report aims to better understand how far along the automotive industry is on its transition to a world dominated by e-mobility – and to measure the confidence levels of those within an industry sector marked by disruption.

Some key findings

Change is already well underway in the global automobile industry. These changes will affect not only vehicle design, but the way we behave and interact with vehicles.

In 10 years all our streets may be full of autonomous car taxis, and that will definitely have an impact on the production of cars, the number of cars sold globally and how they are financed

E-mobility recharging cars

Survey respondents believe that within the next five to 10 years autonomous vehicles will dominate the roadways, and consumers will prefer shared ownership of vehicles over individual ownership. These common assumptions – pure science fiction just a decade ago – now represent new e-mobility strategies.

The pace of change is accelerating

  • Nearly two-thirds (64%) of survey respondents believe that e-mobility will have a major impact on their organization’s strategy over the next three years.
  • Around one-third (32%) say that their company has already adopted a wholly new business model in response to e-mobility trends.

Confidence is key

When it comes to confidence, the automotive industry has it by the van-load, no doubt bolstered by strong sales in recent years.

  • Nearly nine in 10 respondents (88%) say that their company has a clear vision for their e-mobility strategy.
  • Around one-third (32%) say that their company has already adopted a wholly new business model in response to e-mobility trends.
Take a look at the full report
Learn about the automotive industry’s preparations for a world dominated by e-mobility

Download report

Changing gears

The EV is the spearhead of a much wider transformation – the move towards e-mobility. This is a multidisciplinary field that brings together mobility, energy, services and IT.

Read Article