CX Insights - Trend Watch - Automotive Industry (ICYMI November 2023)
ICYMI - Here we are at year’s end! I’m wishing you all happy holidays and looking forward to even better news in 2024 in all the key trends you’ve come to know in my blog! It turns out November came in light regarding quantity of newsworthy headlines (outside of UAW strike voting), but three topics did come up that deserve our call out. Let’s see what’s happening!
One common criticism of EVs is that battery technology and rechargeability is the cost. How could an average consumer possibly afford an EV when the cost is in futuristic motor technology, among other areas? That’s a question automakers are all attempting to answer through further in-house supply chain solutions – and an obvious place to start is in the motor.
General Motors and Stellantis are jointly investing heavily into Niron, a startup that’s seeking to develop permanent magnets without rare earth materials. Permanent magnets are the core of what makes EV engines run. If Niron is successful, it means investors will have a source of alternative magnets without relying on Chinese supply groups, who make up nearly 90% of rare earth magnets worldwide.
Hyundai has its own plans to keep battery production in-house as well. Lithium ferrous phosphate (LFP) batteries are their answer, and their current batches of LFPs are produced by China as well. Starting in 2025, Hyundai aims to provide their own in-house blends of LFP, solid state and NM batteries, increasing EV charges while reducing cost.
We hope Alexa picks something fast and cool; just saying.
Amazon and Hyundai recently inked a partnership that pledges Amazon Web Services (AWS) as Hyundai’s preferred partner in online vehicles sales, cloud computing and voice assistance. Starting in 2024, this means Alexa is built into Hyundai vehicles; new Hyundai vehicles ordered on Amazon’s U.S. store are delivered to you; and an enhanced customer service experience using generative AI. An easy car shopping and driving experience? We’re in!
The “last mile” is going to be easier to travel very soon.
Honda recently launched the Motocompacto, a foldable electric scooter that is turning heads on college campuses and urban areas across the world. Inspired by Honda’s previous Motocompo from the 1980s, this briefcase-sized ride is built for short distances, going up to 12 miles on one charge and reaching speeds of up to 15 mph. Plus, it’s light (41 pounds) and easy to store!
Our reference to the last mile doesn’t just apply to the average consumer – it’s a promise to mail workers as well. Case in point: In Helsinki, Finland, innovation company Forum Virium Helsinki and bot specialist LMAD is testing HeRo, an all-electric robot built to deliver parcels to areas of the capital that do not have a local mailing office. After passing initial trials, its goal is to maintain those metrics even in Finland’s famous ice- and snow-covered months.
For further information on how we got to where we are, I encourage you to check out our previous ICYMI blog posts throughout 2023.