Automotive innovation takes its time

Automotive innovation takes time

LAS VEGAS — At last week’s CES, it was easy to spot technology that could fundamentally change the way we travel.

There were sensors that enabled self-driving cars to reach speeds approaching 190 miles per hour, breakthrough battery advances that facilitated the transition to electric vehicles, and immersive cabin technology that changed the passenger experience inside the vehicle.

How such technology will move from the show floor to the real world remains a thorny question. Innovation, especially in the automotive sector, can be slow.

This is an age-old question scrutinized with renewed vigor during CES. Pressing concerns about greenhouse gas emissions, energy security, geopolitical stability, and economic uncertainty are pushing automotive manufacturers for technologies that can deliver both breakthroughs and cost savings.

But these technologies must go through a painstaking and thorough development, validation, and validation process. Sometimes patience is required. Sometimes policies and funding can speed things up.

Philipp Kampshoff, who heads the McKinsey Center for Future Mobility in the Americas, said, “Innovation can be argued to be a function of time, ultimately reaching better solutions. “It’s also a function of the resource against it.”

Automakers and others have committed these resources to autonomous, connected, electrified and shared mobility technologies since 2010, investing more than $530 billion, according to McKinsey figures.

However, according to McKinsey, only 6% of that investment came from automakers. The rest are from venture capital, private his equity and technology companies. For those accustomed to working outside the automotive industry, the speed at which the industry moves can be frustrating.

“Other sectors say, ‘Let’s go, this is awesome, I want to own this space,’” said Russell Pullan, CEO of Canadian startup eLeapPower. charger and increased range. “Automotive says, ‘This is great, but have you been doing it for 15 years?'”

— Pete Bigelow

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