AutoMobility Insights - September 2024 edition

Mobility
05/09/2024Article

A series of developments this month highlighted the ongoing challenges and shifts within the AutoMobility ecosystem. In a disruptive initiative to get closer to the mobility end-game, VW Financial Services is launching a new mobility platform in 2025, ensuring an optimal use of vehicles, not only for the customer, but also in terms of asset value for the OEM. Focused on Electric Vehicles, BYD and Uber announced a strategic partnership to introduce 100,000 new EVs onto Uber’s platform, where it seems a smart move to push EVs where they make most sense. And indeed, Tesla's new production and delivery numbers show that any help in propping up EV Producer profitability is welcome, as its margins continue to erode due to aggressive pricing and production challenges. These challenges of the auto sector are most pronounced in the Chinese market, which has started the EV Transition much earlier than Europe, and where OEMs are forced to eat into the "EV Mass Market" to build volumes, under higher pressure on price and product adaptation. Here, traditional OEMs are grappling, as local brands like BYD and Geely dominate, showcasing the risks for incumbent OEMs if they fail to accelerate their EV & SDV development (not only in China, but also in Europe and the US).

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