[Asian Steel Watch] Vol.3 (2017.6)
On the Cover Understanding the New Mobility Paradigm
Automobiles are transforming from the modes of transportation to mobile IT equipment through automation, smartization, and servitization. In response to global warming, the electric vehicle (EV) market is expanding. With technological advances and the spread of charging infrastructure, EVs will become as competitive as internal combustion engine vehicles. As the automobile industry is expected to reach Level 5 autonomy by around 2020, autonomous driving technology will result in the replacement of conventional taxis with robo-taxis, and buses with autonomous mini-buses. The new mobility paradigm will bring profound changes to the automotive parts and materials markets and global demand for new cars as the attitudes toward car ownership changes.