ILMA Compoundings - November/December 2020 - 12

INDUSTRY RUNDOWN

Auto Manufacturers
Investing Heavily in
Connected Vehicles
If smart refrigerators can tell you that you are out of milk
and even place an order for more, why can't an automobile do the same thing when it is time for an oil change? 
Vehicles already let the driver know when the oil is running low, but experts say that automakers will soon be using
sensors and the Internet of Vehicles (IoV) to give drivers
the option to purchase the correct oil for their car or direct
them to the closest service station. 
Built In magazine said that one of the great promises of
IoV is predictive maintenance. Sensors located throughout
the vehicle will continuously collect performance data and
pass it along to the manufacturer via the cloud. That data
will inform manufacturers and drivers of issues before they
become emergencies. 
Volkswagen Group CEO Herbert Diess said that the
sector is going through " disruptive innovation. " These developments are thoroughly changing existing segments and are
giving rise to new markets, products and connections. 
That thinking has led Volkswagen to open Future Centers
in Beijing; Potsdam, Germany; and Belmont in Silicon Valley,
California. Future Center Europe in Potsdam is primarily
dedicated to developing mobility concepts. Future Center
Asia will be concentrating on the Chinese and Asian markets
and the needs of their younger digital native customers.
Future Center California will tap into Silicon Valley's reputation for developing the best digital user experiences. 
In the U.S., incoming Ford CEO Jim Farley wants to tap
into the power of IoV to transform the company's commercial vehicle business. He plans to use software, data and
connectivity to generate recurring revenue through sales of
services for F-Series pickup trucks and transit vans. The end
goal is not only to increase revenue for the automaker, but
also to lower the total cost of ownership for Ford's commercial customers. 
However, IoV technology doesn't stop where the car ends.
The Colorado Department of Transportation (CDOT) has
created a connected system along the Interstate 70 mountain corridor. What they are calling the " internet of roads "
will benefit both drivers and traffic managers. Real-time
information such as road conditions (delays, icy conditions
and even crashes) is communicated between vehicles and
road infrastructure. 

12

NOVEMBER/DECEMBER 2020

| COMPOUNDINGS | ILMA.ORG

" We're headed toward the internet of roads that will be
able to communicate, " CDOT Chief Engineer Joshua
Laipply told Roads & Bridges magazine. " V2X [Vehicle to
Everything] will provide the ultimate situational awareness,
with highly accurate geolocated travel information, localized
weather data, faster emergency response times, enhanced
maintenance decision support and more. "  
IoV and V2X technology is also being tested and used in
Georgia at the city of Peachtree Corners, a real-world laboratory and, according its website, " the nation's first smart
city environment powered by real-world infrastructure and
next-generation connectivity. "
The Curiosity Lab at Peachtree Corners is located within
a 500-acre technology park where 7,500 people work and
more than 1,000 people live. It invites early state startups,
universities and established companies to come to the lab to
test, demo and deploy. 
Ford Motor Co. predicts that by 2021, there will be more
than 380 million connected vehicles on the road - 380
million cars that are continually collecting a mountain of
data. McKinsey & Co. estimates that the global market for
car data will grow as high as $750 billion by 2030. 
In fact, Farley told Reuters, " Think of the data being
more powerful than the fuel economy of the vehicle. "
We've already seen how companies like Facebook and
Google have monetized data through advertising. It's not
impossible to think lubricant brands will one day be able to
buy advertising and make direct sales through an automobile's IoV system.


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ILMA Compoundings - November/December 2020

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