Catherine Macaulay & Rodrigo Kohn (Schroders) | As climate change ambition ramps up across the world, emissions reduction targets in the autos sector will likely be forced to tighten further. Numerous countries – including Norway, France, the UK, Sweden, Ireland and the Netherlands – have already announced internal combustion engine (ICE) vehicle phaseouts between 2025-2040. At the same time, technological advancements continue to transform the industry. Production processes are increasingly automated, autonomous driving technology is growing in sophistication, and consumer expectations around the digital experience of vehicles continue to increase.
“We need automation because we won’t have enough young people to handle the production. And yes, it’s true that jobs will be lost, but without automation and digitalisation we would not be able to feed a growing population, dress it, entertain it, provide health treatment etc.”
“Competition is especially important for innovation and some of the big (US) companies also have a lot of power in the market…but it’s difficult to keep innovating.”
José Luis M. Campuzano (Spanish Banking Association) | The key to monetary normalisation for many people is the moderate evolution of inflation. That said, it’s also important monetary policy adapts to the potential impact of technology developments on inflation.