According to a global survey conducted by the IHS Markit, around 92 percent of the respondents indicated that R&D budgets are likely to consequently shrink, which may result in a series of cost-containment measures being deployed.With little prospect for an imminent “return to normal”, automakers and suppliers are looking to shore up their finances by preserving cash and other non-critical expenses which is going to have implications on short- and medium-term research investment priorities in future technologies like e-mobility, autonomy and connected car.E-Mobility technology around battery, e-motor and power electronics emerges as the area which will be more negatively impacted by COVID-19 as compared to others according to 22 percent of the respondents. However, one supplier mentioned that the substantial capital expenditures that OEMs have devoted to e-mobility technology in recent years should make technology deployment in this area more resilient to COVID-19 related cuts. Autonomy deployment is another area majorly impacted by the COVID-19 outbreak. Several supplier respondents indicated that OEMs will focus on more immediate technology deployments around Level1 and Level2 ADAS functions, which are more “proven” and less subject to regulatory complications.Some 16 percent of respondents think that the regulation of autonomous vehicles is likely to be… Read full this story
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