Automotive Mobility Evolution and Digital Industrial Transformation

Really?… the ‘mobility’ industry?

Yes, the automotive industry is transforming into the mobility industry. For example, Ford is rebranding itself as a mobility company. It has spun off a division related to mobility, positioning Ford to compete in the new world of autonomous vehicles, Uber, Lyft, ride sharing and so on. Further, the Society of Automotive Engineers has started using the term ‘mobility engineers’ when referring to their members.

I use the term Evolution as opposed to Revolution to refer to the digital transformation that is occurring in the automotive/transportation industry. Why? Because digital industrial concepts have been in play for many years—even decades in some cases and are now evolving into a true transformation.

Automakers have been using connected car concepts for many years. For example, GM’s OnStar is going on 20 years, and most vehicles today offer connection to your phone and tablets, streaming your favorites from satellite radio, and so on. But now they are furthering the field of connecting key components with sensors to drive continuous operational and occupant data into the cloud for performance analysis and predictive maintenance. Instead of having to drive to the dealership and get a download of data based on ‘codes’ behind the “Check Engine” light, real-time performance data is streaming into the cloud to allow for predicative maintenance based on the performance (or lack thereof) of the vehicle.

This type of digital transformation will open up new capabilities for automakers, dealers, and service centers to offer new services to consumers, transforming old business models into new service offerings. Insurance companies have been offering lower rates for better drivers based on a device that can be plugged into your vehicle and transmit operational and performance data for their analysis and determination of your rates based on your type of driving (e.g. do you speed often?). Automakers have for years offered leasing as an alternative to purchasing, requiring less cash or capital up front, and including all maintenance necessary for the life of the lease. This alternative business model is the forerunner to many new ideas of how people can utilize vehicles to experience the mobility outcomes they desire.

These are all important forces within the evolution of the automotive/transportation industry. You can’t read a magazine article, blog, or newspaper without someone pontificating on the changes we are experiencing and expecting in the ‘mobility’ industry.

Want to learn more about what these disruptive forces mean to manufacturing and operations. Register for the live premier of the first episode in our new video series, Industrial Internet at Work: Capitalizing on Disruption in the Automotive Industry.

GE Vernova is a purpose-built, industry leader focused on enabling electrification and decarbonization. Electricity is crucial to modern civilization and improved quality of life. We help customers create a more sustainable world by delivering products and services that generate, transfer, orchestrate, convert, and store electricity. With approximately 30% of the world’s electricity generated by our customers using our technologies, GE Vernova is uniquely positioned to lead customers through the energy transition, solving for the energy trilemma of reliability, affordability, and sustainability. Our diverse and experienced leadership team brings deep industry and public company expertise to drive long-term shareholder value. We are excited about our plans to become a more focused, independent company sometime in early 2024.

GE Vernova is a purpose-built, industry leader focused on enabling electrification and decarbonization. Electricity is crucial to modern civilization and improved quality of life. We help customers create a more sustainable world by delivering products and services that generate, transfer, orchestrate, convert, and store electricity. With approximately 30% of the world’s electricity generated by our customers using our technologies, GE Vernova is uniquely positioned to lead customers through the energy transition, solving for the energy trilemma of reliability, affordability, and sustainability. Our diverse and experienced leadership team brings deep industry and public company expertise to drive long-term shareholder value. We are excited about our plans to become a more focused, independent company sometime in early 2024.

GE Vernova is a purpose-built, industry leader focused on enabling electrification and decarbonization. Electricity is crucial to modern civilization and improved quality of life. We help customers create a more sustainable world by delivering products and services that generate, transfer, orchestrate, convert, and store electricity. With approximately 30% of the world’s electricity generated by our customers using our technologies, GE Vernova is uniquely positioned to lead customers through the energy transition, solving for the energy trilemma of reliability, affordability, and sustainability. Our diverse and experienced leadership team brings deep industry and public company expertise to drive long-term shareholder value. We are excited about our plans to become a more focused, independent company sometime in early 2024.