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The auto industry converged in London, U.K., again last week for the annual FT Future of the Car conference, now in its 10th year. The agenda reflected the long cycles of the automotive industry—many of the topics of discussion were similar to what was discussed last year. The themes were clear: we’re moving toward a future of software-defined vehicles (SDVs), of embodied AI in vehicles, and EVs are not the only game in town to solve net-zero targets.
What was new this year was the acknowledgement of China being a leader in the adoption of EVs, against the grain of some commentary in Western countries about a slowdown in EV sales. Hence, Chinese automaker BYD had its European managing director give the opening keynote on day three of the conference. The company also had its cars on display in a public area outside the conference center in the heart of the financial center of London.
You can get a flavor of some of the discussions from two CEO interviews here: one with NXP Semiconductors President and CEO Kurt Sievers and INEOS Automotive CEO Lynn Calder. Sievers talks about NXP’s “obsessive focus” on SDVs, while Calder continues to push home the message that an all-electric strategy will not achieve the net-zero ambitions of governments and policymakers, and in turn is stifling innovation.
SDVs are not computers on wheels
NXP’s CEO Kurt Sievers took great pains to dismiss the misconception of SDVs, insisting they are not just computers on wheels. “It’s all about real-time performance, security and low power budget,” Sievers said. He added that the promise of SDVs will lead to the biggest transformation ever in the car industry. “We are obsessed with SDV. From a revenue growth perspective, SDV is key for next five years or so.”
He also comments on the recent narrative that there has been a slow down in EV sales, reported in various mainstream outlets in recent weeks. He said he does not agree with this—a lot of what we read is from a Western perspective. “China is by far the biggest car market, and it has been for quite a while.”
In the context of Asia, we also asked him about his visit to India and meeting with the country’s Prime Minister, Narendra Modi. “I actually believe India has a really brilliant future. In the next 10-15 years, India will be a strong economy, and for semiconductors too,” he said.
He added that he was deeply impressed with Prime Minister Modi. “He understands the needs of the semiconductor industry. His level of knowledge is impressive.”
We talked about the growth of two electric two-wheelers in India, with their sophisticated in-vehicle infotainment systems, indicating a huge opportunity beyond just cars. He also touches on geopolitics, intelligent edge and more.
You can watch the full video interview with Kurt Sievers below:
Combustion engines will be around for a long time
INEOS Automotive’s CEO Lynn Calder took a different angle. She continued to press home what she and her company believed the strategy for net zero should be based on: a multi-powertrain route.
“We believe combustion engines will be around for a long time,” Calder said. “If governments and regulators really want to say, this [electric] is the only route, then innovation will be stifled, [since] there could be technologies that we haven’t even thought about as an industry.
As a result, she explained, drivers are voting with their feet, as reflected in the flattening of battery EVs as some have been reporting.
“We need to find a route that drivers will be willing to accept and that will be affordable for drivers. Transition options like range extenders should be considered. Governments need to listen to the industry and allow them to innovate,” she said. “We have not convinced the general public that full electric is the way to go. There continue to be issues like range anxiety. Electric is good for certain use cases.”
You can watch the full video interview with Lynn Calder below:
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