Tangling with the Automotive Industry
The full article was originally published by HelloIOTA. Read the full article here.
It wasn’t long ago that few people had heard of Elon Musk, fewer knew what Paypal was during its startup years, and even fewer thought that e-mobility could be a thing someday. Yet innovation has continued on. The world’s biggest industrial fair provided insight into what the world’s largest industrial companies are focusing on: the Fourth Industrial Revolution, with the automotive industry leading the way, and IOTA is in the midst of it through its partnership with MOBI.
The automotive industry is a major industrial branch. Almost 100 million cars are produced every year with about 70% of each car’s components being produced by external suppliers. Germany, for instance, has about 1,500 supply firms alone. These suppliers are the ones who provide the “smart” materials which enable autonomous driving or smart parking.
IOTA wants to not only be part of the next industrial revolution, but to be its base layer. And if this revolution is to be successful, the supply firms are the key, because innovation will never hit the road without them. Let’s have a look at two of the biggest supply firms:
Ranked 1st of the global supply firms.
Products include: Gasoline systems, diesel systems, chassis system controls, electrical drives, starter motors & generators, car multimedia, electronics, steering systems, battery technology, exhaust gas, turbochargers & treatment systems as well as service solutions.