With vehicle sales generally expected to decline over the coming years, consumers are instead opting for attractive financing options, or making use services like Uber, Lyft, and even Zipcar.
OEMs have already started to transform into mobility service providers. This means they will have to look for new revenue streams outside their traditional business areas. Another perfect opportunity to collaboration and co-create with the energy sector.
Take batteries as an example. In the future, customers might buy a car, but given its shorter lifespan might sign a separate lease for the battery with the same OEM or with different vendor–such as an energy provider. Either way the battery–a rich source of data itself-would then be managed and maintained separately from the vehicle. In fact some are already starting to innovate their business models here–such as OVO, the energy company who are willing to buy your car battery from you–in return for using it to balance out local power grids.
Then by creating an information infrastructure using and acting on data from the connected vehicle and the battery--the OEM would be able to predict service and maintenance needs, and use the data to achieve productivity and efficiency gains across the entire manufacturing value chain. While the energy company will be able to analyze and predict charging behaviors in greater depth.
One day car owners will be able to both buy energy to charge their vehicle, but also have a mechanism to sell back surplus energy to their provider. Using data and innovation to create such innovative models and revenue streams can only empower the consumer further and create a stronger customer experience.