At Summit, we always keep up with the incoming Mega Trends of Mobility by focusing our investment into the future capabilities and innovation as well as opening up new markets and expanding existing markets.
We are on the edge of a revolution in transportation. In the future decades, technology will not only open tremendous potential for the global economy, but it will also greatly improve the safety and efficiency of travel.
Leading automakers are planning and implementing initiatives to better position themselves in the new era of electric mobility. Aside from Tesla and Toyota, who lead BEVs and HEVs, other automakers are still in the planning stages of electrifying their line-ups.
With increasing energy density and lower costs per KWh of energy, lithium-ion battery technology is quickly advancing.
Apart from efficiency, OEMs are attempting to improve performance without having to convert to a larger engine. This will help support modern autos’ growing powertrain content and increase power demand.
Automakers will soon be able to offer a mix of options that allows for lower costs, longer range, and smaller battery sizes. Electric vehicle use is expected to increase 15-fold by 2035, according to the International Energy Agency.
The expansion of smart cities will be a major influence in the adoption of autonomous vehicles. Google and Apple are two big companies that are developing advanced software for the driverless car business. Tesla is currently beta testing a next generation of full self-driving cars.
