Says Bosch's CEO

We might be past the peak of global automotive production

Via Azeem Azhar’s amazing newsletter

‘It could well be that we passed the peak in global automotive production,’ says the CEO of Robert Bosch, the world’s largest car parts supplier. Tesla, meanwhile, exceeding $100 billion in valuation making it more valuable than Ford and GM combined….The headwinds for incumbent car manufacturers are terrifying: the move to electric drive trains and software-rich products, the growing hostility towards the car, at least in cities. It staggers me that the large car companies squandered their decades of experience and are so ill-prepared for the platform shift, consumer and policy changes of the years ahead”

...and what I said about the future of the car in 2018

“Where most families now own or lease their car, in the next five years they will subscribe to a mobility service, says Leonhard. “Non-ownership will rise, and people will borrow, share or use cars on demand.”

Read more via The Guardian