1、 2023 Boston Consulting Group1The entire$3 trillion,150-year-old automotive industry is shiing to a connected,electric future.And itis doing so faster than many believed possible.By 2035,electric vehicles(EVs)are expected toconstitute 60%of new vehicle sales worldwide.To meet this challenge,many lea

2、ding automotive playersboth carmakers and suppliershaveannounced bold visions for where they are headed.Carmakers are either planning or alreadyimplementing the following:a complete shi to EVs,becoming EV-first while maintaining a strongRewiring the Auto Industry for theElectric,Connected FutureAPRI

3、L 18,2023 By Abhijit Kodey,Mike Quinn,Aakash Arora,Julie Bedard,Julia Dhar,SK Missert,Tiffany Ho,SibleyLovett,and Kristy EllmerREADING TIME:15 MIN 2023 Boston Consulting Group2internal combustion engine(ICE)business,or spinning out new EV-only business.Suppliers,too,areforming new EV-oriented partne

4、rships,undertaking M&As to move up into soware,consolidatingoperations,and pivoting their portfolios to emphasize electric and electronic offerings.As ambitious as these visions and moves are,both automakers and suppliers run the risk oftransforming their structures so quickly that their operating m

5、odels,talent pools,ways of working,andcorporate culture simply cant keep up.In our experience,they are struggling to make the changesneeded to benefit from their structural transformations and reach their EV goals.Automotive players run the risk of transforming their structures so quickly that their

6、operating models,talent pools,and corporate culture simply cant keep up.To succeed,automotive players will need to exert more effort to address gaps in the key areas that,ifle unaddressed,will lead to a bumpy transition to EVregardless of how clearly the endgame isdefined.A Complicated Journey No ma