The internal-combustion engine still has enormous potential for reducing fuel consumption and emissions, and will remain the dominant powertrain technology for the majority of vehicles sold worldwide over the next 20 years. To further develop the internal-combustion engine, automakers and suppliers must continue to make major investments. At the same time, a high level of investment is required to develop the electric powertrain. Standardization and concentration of production at an early stage by allocating the costs set aside for the internal-combustion engine in the value-added chain are fundamental if the necessary investment activity is to be pooled and unit costs reduced. Alliances and partnerships can increase the speed of development. New market players from other industries are entering the market for electric vehicles, as they see opportunities arising from new technological requirements and the prospects for new business models. To succeed in the electric vehicle market of the future, automotive industry executives must take on the strategic task of developing the right competencies for the electric powertrain and ensuring that all relevant divisions have the right focus.
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