WEBVTT 1 00:00:01.440 --> 00:00:03.450 For all the progress we as an industry have made 2 00:00:03.450 --> 00:00:04.870 over the last a hundred years, 3 00:00:04.870 --> 00:00:06.480 the reality is that the automotive industry 4 00:00:06.480 --> 00:00:07.780 is still far from perfect. 5 00:00:09.260 --> 00:00:12.010 Each year, more than 1.3 million lives are lost 6 00:00:12.010 --> 00:00:13.120 to traffic accidents. 7 00:00:13.120 --> 00:00:15.200 The automotive industry contributes about 12% 8 00:00:15.200 --> 00:00:16.820 of all global emissions. 9 00:00:16.820 --> 00:00:17.883 Perhaps worst of all though, 10 00:00:17.883 --> 00:00:21.213 hundreds of millions of people in dense, urban environments 11 00:00:21.213 --> 00:00:23.887 lack accessible and reliable mobility, 12 00:00:23.887 --> 00:00:26.463 contributing to broader economic inequality. 13 00:00:27.846 --> 00:00:29.750 But there is reason to hope. 14 00:00:29.750 --> 00:00:30.790 Over the coming decades, 15 00:00:30.790 --> 00:00:33.051 we're going to see a dramatic shift from gas guzzlers 16 00:00:33.051 --> 00:00:35.830 to increasingly electrified vehicles, 17 00:00:35.830 --> 00:00:37.841 with our forecast suggesting that by 2035, 18 00:00:37.841 --> 00:00:39.967 more than 95% of all vehicles 19 00:00:39.967 --> 00:00:42.370 will have some form of electrification. 20 00:00:42.370 --> 00:00:44.320 We see the move from hardware to software. 21 00:00:44.320 --> 00:00:47.080 It's no longer going to be about the look and feel 22 00:00:47.080 --> 00:00:47.913 of the vehicle. 23 00:00:47.913 --> 00:00:50.210 It's going to increasingly be about the software features. 24 00:00:50.210 --> 00:00:53.000 We're going to see advanced driver assistance systems. 25 00:00:53.000 --> 00:00:56.240 It's going to move from being a luxury item to a common good 26 00:00:56.240 --> 00:00:57.980 that frankly, we all deserve. 27 00:00:57.980 --> 00:01:00.700 We're going to move from privately owned/operated vehicles 28 00:01:00.700 --> 00:01:03.370 increasingly to share autonomous electric vehicles. 29 00:01:03.370 --> 00:01:04.530 And as importantly, 30 00:01:04.530 --> 00:01:07.130 we're going to increasingly move from single product use 31 00:01:07.130 --> 00:01:08.830 to more circular lifecycle 32 00:01:08.830 --> 00:01:12.110 with vehicles and components being designed from the outset 33 00:01:12.110 --> 00:01:13.560 with recyclability in mind. 34 00:01:13.560 --> 00:01:15.410 There has never been a more exciting time 35 00:01:15.410 --> 00:01:16.860 to be in the automotive industry. 36 00:01:16.860 --> 00:01:18.745 Disruption creates discontinuity, 37 00:01:18.745 --> 00:01:22.200 but discontinuity, it creates opportunity. 38 00:01:22.200 --> 00:01:23.903 There are a number of key challenges 39 00:01:23.903 --> 00:01:26.321 that we as an industry will need to navigate 40 00:01:26.321 --> 00:01:28.570 to realize the full potential of new mobility. 41 00:01:28.570 --> 00:01:30.243 To start, you need to focus. 42 00:01:30.243 --> 00:01:32.800 Ensuring the laser light clarity 43 00:01:32.800 --> 00:01:34.328 on what your company stands for 44 00:01:34.328 --> 00:01:37.000 and how you will create sustained advantage. 45 00:01:37.000 --> 00:01:38.960 You need to challenge everything: 46 00:01:38.960 --> 00:01:42.400 business models, operating model, the path to net zero. 47 00:01:42.400 --> 00:01:43.758 Scale matters, 48 00:01:43.758 --> 00:01:45.630 and either through owning it 49 00:01:45.630 --> 00:01:48.280 or through building out a broader partnership ecosystem, 50 00:01:48.280 --> 00:01:50.890 you need to gain that advantage scale position. 51 00:01:50.890 --> 00:01:52.660 Product development, costs. 52 00:01:52.660 --> 00:01:53.747 It matters. 53 00:01:53.747 --> 00:01:55.200 Data. 54 00:01:55.200 --> 00:01:58.047 Digital needs to be ingrained in everything you do. 55 00:01:58.047 --> 00:02:00.180 Those who win going forward are going to be those 56 00:02:00.180 --> 00:02:03.860 who are best at the ability to master accessing data, 57 00:02:03.860 --> 00:02:07.550 manipulating data, using that to drive real advantage. 58 00:02:07.550 --> 00:02:10.000 And finally, companies need to break free 59 00:02:10.000 --> 00:02:11.500 from traditional talent models, 60 00:02:11.500 --> 00:02:14.160 and they need to accelerate the move to new skills 61 00:02:14.160 --> 00:02:15.292 and new ways of working. 62 00:02:15.292 --> 00:02:18.406 The stakes are high, but when we get this right, 63 00:02:18.406 --> 00:02:21.134 we're not just going to change the automotive industry, 64 00:02:21.134 --> 00:02:22.873 we're going to change the world.