-: For all the progress we as an industry have made
over the last a hundred years,
the reality is that the automotive industry
is still far from perfect.
Each year, more than 1.3 million lives are lost
to traffic accidents.
The automotive industry contributes about 12%
of all global emissions.
Perhaps worst of all though,
hundreds of millions of people in dense, urban environments
lack accessible and reliable mobility,
contributing to broader economic inequality.
But there is reason to hope.
Over the coming decades,
we're going to see a dramatic shift from gas guzzlers
to increasingly electrified vehicles,
with our forecast suggesting that by 2035,
more than 95% of all vehicles
will have some form of electrification.
We see the move from hardware to software.
It's no longer going to be about the look and feel
of the vehicle.
It's going to increasingly be about the software features.
We're going to see advanced driver assistance systems.
It's going to move from being a luxury item to a common good
that frankly, we all deserve.
We're going to move from privately owned/operated vehicles
increasingly to share autonomous electric vehicles.
And as importantly,
we're going to increasingly move from single product use
to more circular lifecycle
with vehicles and components being designed from the outset
with recyclability in mind.
There has never been a more exciting time
to be in the automotive industry.
Disruption creates discontinuity,
but discontinuity, it creates opportunity.
There are a number of key challenges
that we as an industry will need to navigate
to realize the full potential of new mobility.
To start, you need to focus.
Ensuring the laser light clarity
on what your company stands for
and how you will create sustained advantage.
You need to challenge everything:
business models, operating model, the path to net zero.
Scale matters,
and either through owning it
or through building out a broader partnership ecosystem,
you need to gain that advantage scale position.
Product development, costs.
It matters.
Data.
Digital needs to be ingrained in everything you do.
Those who win going forward are going to be those
who are best at the ability to master accessing data,
manipulating data, using that to drive real advantage.
And finally, companies need to break free
from traditional talent models,
and they need to accelerate the move to new skills
and new ways of working.
The stakes are high, but when we get this right,
we're not just going to change the automotive industry,
we're going to change the world.