The automotive industry is undergoing radical change across the globe. As Akio Toyoda, President of Toyota Motor Corporation said in 2018 at “THE CONNECTED DAY”:
“The automotive industry is currently facing the era of major transformation said to occur only once every 100 years. It is said that within as few as 20 years since the appearance of the Model T (Ford), almost all horses have been replaced by automobiles. Now, 100 years later, we are facing with new competitors, technology companies which have entirely different views from that of the automotive industry. We are exactly entering a phase in which the future of automobiles could change drastically.”
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