The far-reaching economic impact of COVID-19 is becoming clearer by the day. The Pandemic has hit the automobile sector severely. In these uncertain times, Innovation is the only way through which car companies can survive.

For many industries, the key challenge is not just to fight the pandemic, but also manage its economic and social consequences and find the right measures to respond to them. This is particularly true for the already stressed car industry. The crisis has massively hurt liquidity, supply, production, and demand. Companies have had to shut down factories and deal with plummeting sales and disrupted supply chains. As a result, revenues have dropped around the world.

What steps are necessary to fight the aftermaths of COVID-19

Data and innovation

Now that COVID-19 has shown us how inaccessible public transportation options are for the most vulnerable population, how can we fix it? The first step is good data.

We ought to have data collected before moving forward. Once the data is collected, we can combine datasets from all public and private mobility providers, we can have a complete image of how people move and needed to move. We could then map the world’s blind spots and rethink the business model of the Fourth Industrial Revolution.

Innovation is needed by car companies to battle COVID-19. This includes remote access and digitizing the key sharing system. This is where solutions like MoboKey comes in.

Good policy in mobility

The next step is a good policy from the government.  Whatever their size, bailouts are not enough. Bailouts will not give vulnerable individuals options to access core services that do not expose them to diseases. They will not guarantee access to work, schools, and supermarkets to spend and grow that money. They need to come with strong public-private initiatives that can transform emergency responses into a sustainable transformation. Read more

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