Future Outlook in 2024: Insights by Our Site's President Matthias Zink
In the rapidly evolving landscape of Europe, the automotive supply industry continues to play a crucial role, investing €30 billion annually in research and development, making it the top private investor in this sector. Matthias Zink, the newly elected President and CEO of Automotive Technologies, Schaeffler, is ready to lead this charge.
Zink, an engineer by education, takes over a two-year term as the President of the organisation, which represents over 3,000 companies, ranging from multi-nationals to SMEs. He stands ready to contribute his expertise and proposals to ensure the effective and efficient implementation of the European Commission's Green Deal.
The shift towards electric mobility presents a significant challenge, one that requires suitable infrastructure, affordable renewable energy, a strong European battery supply chain, and a flexible EU regulatory framework. Zink acknowledges the need for mobility to be affordable, and the EU automotive industry must pick up its pace to avoid being cut out of the electric vehicle market.
The President emphasises the importance of consumer choice in achieving these goals faster and more efficiently. He views the citizens of Europe as the 'customers,' and fair access to in-vehicle data is crucial for automotive suppliers to engineer, repair, and maintain vehicles and new mobility services.
Zink intends to strengthen the voice of the sector in Brussels and throughout Europe to foster dialogue and collaboration for a regulatory framework that supports a competitive and sustainable industrial base. He believes that a technology open regulatory framework is necessary to ensure options to meet ambitious targets, such as the EU's commitment to implementing Fit for 55.
The automotive supply industry is critical to enabling the green and digital transition in Europe. With 75% of the value of a car coming from suppliers, it is evident that the industry's success is intrinsically linked to Europe's transition towards a sustainable future.
Looking ahead, Zink expresses his eagerness to work with others and hopes to see them soon. As the European elections approach, a new European Parliament and Commission will define the political priorities for the next five years. Zink is committed to ensuring that the automotive supply industry remains at the forefront of these discussions, shaping a future that is both sustainable and competitive.
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