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Goldman Sachs Exchanges

The Future of Four Wheels: Episode 1, The Twin Revolution

Goldman Sachs Exchanges

Julia McGonagle

Business

4.41K Ratings

🗓️ 29 January 2024

⏱️ 26 minutes

🧾️ Download transcript

Summary

In the first episode of our four-part special series, we take a close look at the two fundamental changes that are upending the auto industry: electrification and autonomy. Both rely on a complete rethinking of how cars are designed, engineered, and built. Those changes, in turn, require massive shifts in supply chains, labor pipelines, and corporate organization.

Transcript

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0:00.0

This past fall I saw something I haven't been able to stop thinking about.

0:05.0

Let me set the scene here. It's September 2023.

0:09.0

The location is Munich.

0:11.0

The global auto industry has come together for its annual European

0:15.3

Convention. For one week, hundreds of thousands of automakers

0:18.8

of automakers, suppliers, industry watchers, and journalists will go from one manufacturer's massive booth to another to look at the latest sheet metal and listen to CEOs talk about the next generation of cars that are just around the corner.

0:33.0

This being a show held in Germany,

0:35.0

one of the key exhibitors is Mercedes-Benz.

0:38.0

Mercedes essentially invented the automobile

0:40.0

way back in 1886, and today its CEO, Ola Kalanius is showing off the

0:45.1

manufacturer's newest car.

0:48.3

Good evening ladies and gentlemen and welcome to Mercedes-Benz here in Munich.

0:55.0

The car is called the Concept CLA. It's not ready for production just yet,

1:01.0

but even with its hand polished paint and some decorative touches

1:04.8

that wouldn't survive a parking lot, it's pretty close to what the finished product

1:08.5

will resemble. Like all concept

1:13.4

looking thing.

1:14.4

Today the concept CLA class is the forerunner to an entirely new portfolio of

1:20.7

electric first vehicles. Kalenius's address was a different kind of new car launch speech.

1:26.0

If you expected to hear a list of high performance stats and figures, well, you would have been disappointed.

1:31.0

Instead of zero to 60 times, Mercedes CEO talked about kilowatt

1:34.8

hours. Instead of top speed, he spoke about charging speed. Instead of driving

...

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