Technology continues to transform the automotive industry. The shift to electric vehicles (EVs), modern mobility solutions, and digital integrations are changing our environment at an ever-increasing pace. From conversation with colleagues throughout the industry, it’s clear that collaboration across the entire ecosystem is key to navigating this complex landscape.
From OEMs to retailers, technology providers to infrastructure developers, it’s more important now than ever for the industry to work together. Finding collective solutions could enable us to overcome challenges and seize opportunities, building a platform for future innovation.
In this piece, we check out the areas in which technology is driving change and explore how industry collaboration could increase profitability and solidify the industry’s resilience.
Navigating complex systems
One of the things that makes innovation in our industry hard to keep pace with is the sheer scale of it. We have cutting-edge software integrations, stock inventory, digital payment systems, and AI-driven customer interactions transforming sales, whilst vehicle telematics are creating new conditions for drivers and new ways of working in the workshop. And that’s before we even get to the infrastructure required for EVs, from public to home charging stations.
This complexity represents significant challenges – how do we maintain seamless interoperability between the diverse technology providers? How do we ensure a consistent consumer experience across global and local markets?
As the industry becomes more interconnected, it will require every entity in the ecosystem to collaborate. No single OEM, retailer or technology provider can solve the challenges posed by such a rapidly evolving landscape. It is only through partnerships, shared insights, and co-developed solutions that we will be able to meet rising consumer expectations while adapting to new mobility challenges and opportunities.
Electrification and infrastructure: making a collective effort
Climate change concerns have seen consumers across the world move to electric vehicles – and this shift will only continue to accelerate. With the UK government mandating that 80% of new cars and 70% of new vans sold in Great Britain will be zero emission by 2030, public and private bodies must work together to ensure the infrastructure is in place to facilitate this transition.
As well as creating a reliable infrastructure, retailers and OEMs will have to give consumers the information they need when it comes to EV ownership. This means more than just monthly payments and fuel costs. Consumers want to know how an EV will fit with their lifestyle. Education will play a significant role in helping consumers feel confident in their decisions, so retailers and OEMs will need to work together to ensure they create a consistent set of tools that gets the message across successfully.
How the retailer’s role is changing
Retailers are no longer simply selling cars. They are becoming educators and mobility consultants, helping consumers make informed decisions that align with their needs. While some OEMs have begun experimenting with direct-to-consumer models, most consumers still require human interaction, especially when making the seismic shift to an electric vehicle – and that’s where retailers must step up.
It’s important to educate consumers not only on vehicle choice but also on the new realities of vehicle ownership. What’s the charging infrastructure on an EV? The energy consumption? The total cost of ownership? Reassuring customers on these issues and providing a holistic understanding of the differences between EV and petrol ownership creates a stronger consumer-retailer relationship.
Working collaboratively, from global to local
We know that consumers still look for the human touch. So, while global players – OEMs and technology providers – bring scale and innovation, we still rely on local retailers to provide the customer insights and relationships needed to create tailored solutions for specific markets. With their physical presence and ongoing customer relationships, retailers have a unique opportunity to reimagine their role in this new landscape, not only selling vehicles but also offering complementary services and products that meet evolving consumer needs.
For the entire ecosystem to succeed, these two sides of the coin – the global and the local – need to work together and understand the impact that the changes in our industry have on the broader supply chain. Siloed thinking and internal competition within organisations are obstacles to achieving the full potential of the industry. By embracing collaboration at every level, companies can unlock faster, more radical solutions to common challenges.
How do we overcome the challenge of siloed operations?
Working collaboratively is the way forward. However, many large organisations today have a siloed infrastructure. Departments often work in isolation, focusing on their own objectives rather than the broader needs of the industry. This has been particularly true of suppliers, who are frequently pitted against one another.
How will we change this? If we switch from a competitive to a cooperative mindset, fostering collaboration across suppliers, retailers and OEMs, the automotive ecosystem will innovate more quickly. Working closely together will help solve shared challenges and drive the industry forward.
Partnership: the key to unlocking our full potential
Keyloop’s strategy – build, buy, partner – allows us to focus on what we do best while leveraging the capabilities of partner companies. By working with innovators who specialise in emerging technologies and complementary solutions, we can offer a more comprehensive range of products and services to support the automotive ecosystem.
Of course, any partner ecosystem introduces a degree of competitive tension. However, we believe that the strength of our system lies in its seamless connections and interoperability. By embracing collaboration, we are collectively stronger, more innovative, and better positioned to meet the needs of both retailers and consumers. The risk of fragmentation – where providers attempt to “do it all” and fall short – can be mitigated through a clear focus on collaboration.
Collaboration is the key to unlocking the full potential of the industry. As we navigate the transition to electric vehicles, the integration of cutting-edge technologies, and the evolving role of retailers, working together will be critical to success. By fostering partnerships across OEMs, technology providers, retailers, and infrastructure developers, we can create a more resilient, innovative, and consumer-focused industry.
At Keyloop, we’re committed to driving this collaborative approach forward. By building, buying, and partnering with the best in the industry, we are shaping the future of automotive retail and mobility, ensuring that our customers and partners are prepared to meet the challenges of tomorrow.
