The automotive industry is experiencing a confluence of events that are prompting the sector’s most impactful shift of the 21st century. From managing litigation risks and preparing for a driverless future to navigating a dynamically changing labor and employment landscape and traversing a precarious trade environment, car manufacturers are on the precipice of an unprecedented pivot. Add the consequences of the COVID-19 pandemic and car makers are likely to see a global realignment of their businesses and customer preferences in the next year or two.
From a legal perspective, the likely increase in enforcement from both international regulations and the National Highway Traffic Safety Administration (NHTSA), the data privacy and cyber security uncertainty associated with connected cars, and the intellectual property implications of new initiatives designed to move the field forward present a host of issues that could threaten the industry’s long-term success. One hallmark that could help it adapt and thrive is a comprehensive, creative approach to innovation.