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“Regarding electrical mobility technology, the German automotive industry currently lacks behind”

The Coronavirus has been very costly for Audi; with over 20% fewer cars sold, a 30% drop in sales, and a 750 million euro loss in the first half of the year alone. “We are currently in the middle of the biggest transformation in the history of our industry. A determined turnaround is necessary for Audi, and for the entire industry, not just since Corona. When it comes to digitization, we are sitting in the second row,” says Markus Duesmann, Chairman of the Board of Management of Audi AG. In the front row: a visionary from California – Tesla. Today, Tesla’s stock value is higher than those of BMW, Daimler and VW combined. The reason: From the very beginning, Tesla strove to build a computer on wheels. On the stock exchange, Tesla is seen as a technology stock, so the benchmark is Facebook, Apple, Microsoft and Google, and not VW, Toyota, General Motors, BMW and Mercedes. “Regarding electrical mobility technology, the German automotive industry currently lacks behind – this applies to almost all performance indicators. This situation poses a critical challenge to all German automotive companies, in particular to VW and Audi. A radical transformation is necessary to close the gap. Speed is of uppermost importance in the race towards leadership in the ‘new’ automotive landscape.”, says Prof. Dr. Hutzschenreuter. The direction within this new landscape is clear: electric, autonomous, and new functionalities as updates that can be downloaded. However, the switch to new technologies is also fueling fears: “The shift towards new technologies means significant changes for everyone, customers, employees, management, engineers and suppliers. Especially internally, entire family existences are threatened by this transition,” says Prof. Hutzschenreuter critically in a recent interview with the ZDF heute journal.

 

Photoy by Craig Adderley on Pexels

The post “Regarding electrical mobility technology, the German automotive industry currently lacks behind” appeared first on Technical University of Munich – School of Management.

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