Four Innovative Companies Changing the Auto Industry


The automotive industry has seen many shifts over the past two decades. With the rise of car-sharing, the decline of gas and oil-dependent vehicles, and the introduction of self-driving vehicles, it’s clear that the auto industry is open to change. What’s most important is that there is a healthy balance between new, innovative companies finding a place in the market, and generations-old companies adapting to trends and technology.

Automakers that ignore these trends will be quickly left behind, and new services and tech startups will continue to fill in the gaps. With that in mind, here are four innovative companies that are changing various sectors of the auto industry:

Tesla — Electric Cars

Slowly but surely, the internal combustion engine is phasing out. And while this won’t happen overnight, the statistics show that change is happening each day. More and more people are already opting for hybrid vehicles, namely because there are many more gas stations available than charging stations. And until demand for electric vehicles is high, so too will remain the cost of production. However, other countries are seeing a more dramatic shit to electric vehicles.

There’s no doubt that Tesla is leading the electric car revolution. They believe that luxury electric vehicles are the future of tomorrow, and their efforts to deliver a produce that demonstrates this have proven worthwhile. So far in 2020, Tesla has outsold the top three electric automakers combined. Although competition in the electric vehicle space is becoming stronger, Tesla clearly remains the industry leader.

Olive - Flexible Car Insurance

The auto industry is one that’s antiquated and slow to adapt to technological shifts. But companies like Olive are changing the way car owners deal with extended insurance options. One of the biggest differences between Olive and its competitors is that it offers flexible payment plans. After you’ve been quoted, you pay month to month and cancel anytime. It eliminates the middleman markups, confusing fine-print, and lock-in contracts. It also features plans designed for specific models. For example, as the owner of a Wrangler, you might opt for a Jeep extended warranty plan.

Volvo — Subscription Vehicle Program

Car-sharing companies have had a dramatic impact on the auto industry. In areas—such as metropolitan cities—where car-sharing is common, the rate of car ownership is decreasing, while the rate of no-car households gradually increases. If this trend continues, car companies will have to re-examine how they approach mobility, branching out beyond the traditional car ownership path. With modern consumers having such a wide array of options, car companies must adapt to these trends, which is why some companies, like Audi, have already begun exploring on-demand car-sharing services on their own.

Volvo is another company that’s thinking outside the box. To accommodate this shift, they launched the Care by Volvo plan, a subscription program that includes car payment, insurance, and maintenance in one monthly fee. Volvo even offers the first 30 days for free, appealing to the “try it first” model. In an consumerist economy that values convenience, this could create a major incentive for car owners, and other auto companies may follow suit.

Waymo - Self-Driving Vehicles

There are many players in the self-driving sector, and there’s no doubt that self-driving vehicles will play a critical role in the shape of the auto industry. However, Waymo, which is run by Google, is credited as one of the primary frontrunners. Waymo doesn’t currently plan to get into the business of producing vehicles; instead, they are producing the technology necessary for other manufacturers to adopt. By licensing this technology, they allow other companies to utilize their software and sensors to enable its existing platforms in the self-driving arena.

Already, Waymo is ahead in terms of execution. Their robotaxi pilot program had more than 6,200 riders during the first month. As such, if car manufacturers make the decision to use Waymo’s technology, as opposed to creating self-driving vehicles of their own, Waymo could position itself as the industry standard tech for self driving. To date, they’ve signed exclusive deals with Chrysler and Volvo to streamline their self-driving technology.

Ford, General Motors, and Tesla are all important companies exploring self-driving capabilities in-house, and companies like Tesla already have a fleet of vehicles that can do a considerable amount of self-driving on their own. Moving forward, auto manufacturers will have to decide whether starting their own autonomous fleet is worth the investment, or whether incorporating existing technology will be a more strategic move.

Related Articles

What Software Powers the Live Casino Experience?

By: Special Guest    5/10/2021

Live casinos have been around for some time, but they are still widely considered the new kid on the block. They've been a revelation for thousands of…

Read More

What Tech Do Designers Use to Make a Casino Game?

By: Special Guest    5/6/2021

Designers use the latest technology to bring you the great games you see at real money casinos in 2021. It is complex to the average person who simply…

Read More

World Password Day: Password Protection Needs a Fundamental Change

By: Special Guest    5/6/2021

A 2019 Google study found that 75% of the Americans admit to struggling with so many passwords, that many end up reusing the same password across mult…

Read More

Important Information About Bitcoin Wallets for Beginners

By: Special Guest    5/6/2021

Bitcoin is one of the most sought-after assets in any investor's portfolio. The price of BTC has exceeded $60,000, and its market cap has also exceede…

Read More

Is VR the Next Step for Mobile Gamers?

By: Special Guest    5/5/2021

Mobile gaming is fantastic. It is possible to sit on a train and play some of the latest video games using a mobile phone. If you look back at some of…

Read More