Automotive industry researchers at Boston Consulting Group believe that by 2035, new mobility technology will account for 40 percent of industry profits.
Automakers will have to step up their investments in key areas like autonomous vehicle technology, battery production facilities, electric-vehicle charging infrastructure and self-driving taxi fleets in order to get their fair share of future profits.
“OEMs face a double-whammy challenge of needing to make investments in these growth areas at the same time that their margins in their core business are declining,” said Michelle Andersen, a BCG partner and coauthor of the study.
Read the article at Forbes.