Change may be the only constant, but the pace with which it takes place is not. The automotive industry is seeing a spectrum of disruptions, as we move towards a cleaner, safer and convenient transport ecosystem. There are primarily three factors causing this disruption: The shift to stringent emissions norms, the transition to electrification, and potentially changing consumer preferences with shared mobility and a connected ecosystem.
The inevitability of change, and the associated risks and opportunities, have implications for original equipment manufacturers (OEMs) in terms of strategic planning and consolidating their efforts. It is imperative to analyse and understand the possible inflexion points of regulatory peaks, mass change in consumer preferences or lower costs of technology development, and how different scenarios could impact businesses.
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India should pride itself for meeting the BS-VI challenge in record time of just three years, undoubtedly among the fastest transitions globally. The transition also provides an opportunity for increased value-add in the Indian manufacturing ecosystem.
Source: livemint
