India is now the fifth-largest automotive market. It is also home to nine out of ten most polluted cities in the world. Further rapid urbanisation and spread of cities will require it to adopt innovative mobility solutions such as Mobility as a Service and shared mobility, cleaner EV technologies, and autonomous vehicles that are also less polluting. Faster mobility will also be the key to industry's efficiency.
The automobile industry across the world is in the middle of a complete transformation as it becomes smarter and connected. The pace of technology use is being supplemented with continuous increase in processing power and better communication. The visualisation of the vehicle as the central object will soon be a thing of the past. The future will see interaction between multi-modes enabled through connectivity. Newer offerings, business models and lifestyle relevant mobility trends are changing the market. One such example you experience these days is the way connected mobility is shaping up and the systems which are being set up to enable the overall sharing concept.
In the last few years, the automotive industry in India has seen not just exponential growth but also technological disruptions. This accounted for a substantial stake in the Indian economy. Earlier this year, India overtook Germany as the fourth largest global automotive market, right behind China, USA, and Japan.
This story is from the January 13, 2019 edition of Business Today.
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This story is from the January 13, 2019 edition of Business Today.
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