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AUTOMOTIVE BUSINESS Solving the biggest coronavirus-related challenges in the automotive industry
That the coronavirus pandemic has caused a great deal of damage in the automotive industry is undisputed. The most recent example is the insolvency of the Chinese car manufacturer Byton. But there is hope: Companies seeking to avoid a similar fate can take concrete steps to come out of the pandemic stronger than ever.
In a previous article, we have detailed businesses on the verge of bankruptcy due to the coronavirus pandemic. Now, this article highlights chances and opportunities in mobility and the automotive industry as the coronavirus pandemic has accelerated notable trends, while simultaneously reversing others.
For instance, new-energy vehicle (NEV) sales are rising rapidly as an unexpected “green-ing” of the planet has been a byproduct of global manufacturing and production slowdowns. At the same time, an expected shift to shared mobility has been postponed or even turned around due to people’s needs and desires to not be in close proximity to other people in enclosed spaces.