Things You Should Know
Vehicle Sector – Electrification
I had a nice conversation with Steven Cong regarding electrification in the vehicles sector.
He shared some interesting insight, “Most companies are a finding huge challenge to move into electrification. Many OEM are 100 years old and they are mature businesses and need to change so much of their technology.”
He continued, “Not only is the technology expensive to update, but most people don’t like change, but they must need to change their way of thinking.”
He added, “Many big companies know they need to move to electrification but they just don’t how to. Some companies are going in one direction, only to find out it’s the wrong direction. Unfortunately, they spent a lot of money only to find out it was wrong. It is a high risk area! Telsa is a relatively new company, a pioneer and they never really had the old technology that they had to change, which was an advantage for them. Others are trying to follow their lead.”
The future of the large OEMs may depend on how successful they are at adapting to the dynamic changes towards electrification in the vehicles space!
#SCNrecruiting #vehicles #electrification #automotive