Automotive Industry in Transition: Electric Vehicles and Autonomous Technologies in Focus

The automotive industry continues to experience a transformative upheaval driven by the rapid introduction of electric vehicles (EVs). This change is the dominant theme in an industry that has produced continuous innovations for drivers over decades. An especially exciting chapter is currently being written in the realm of robotaxis, which Elon Musk has significantly advanced with the introduction of the Cybercab. This autonomous two-seater vehicle is set to be unveiled at key locations in the USA this December, with plans to launch the autonomous service in California and Texas starting in 2025. The demand in the global EV market shows impressive results. According to a report, global EV sales rose to a record high of 1.8 million units in November – an increase of 100,000 units compared to the previous month. China plays a leading role, accounting for two-thirds of monthly sales and continually expanding its capacity. Forecasts suggest that the country will be able to produce a total of 20 million electric vehicles in 2024, with annual increases of 4-5 million units. In Europe, mixed signals have emerged: while EV sales in regions such as the United Kingdom (UK), the European Free Trade Association (EFTA), and the European Union (EU) saw an overall slight decline of 3%, the UK, thanks to the Zero Emission Vehicle (ZEV) mandates, experienced a remarkable 17% growth compared to the previous year. India is also significantly contributing to global automobile production, reporting an output of 25.9 million vehicles for the fiscal year 2023. The Indian auto component industry is also enjoying an upswing with a growth of 11.3% in the first half of the fiscal year 2025, attributed to the increased demand for larger and more powerful vehicles.