Automobile engineers and businesses need to move forward fast as new technology challenges and novel business models demand innovative solutions, according to Charles-Etienne Verdier, Chairman and Managing Director, Renault Nissan Technology and Business Centre India.

With over 60 million automobiles on the roads, the industry, which has reached a level of maturity, is now facing critical challenges. The industry will have to invest in new businesses.

New services With stringent emission standards, the conventional engine is facing competition from electrical technology. Increasingly the industry needs more software engineers than mechanical engineers as cars become more autonomous and connected; and novel mobility services like cab aggregators and car pooling mean new requirements and solutions for the market, he said delivering the convocation address at the Loyola Institute of Business Administration (LIBA).

Along with these challenges large organisations have to deal with increasing networking, diversity as they come together globally. The Renault-Nissan Business Centre which he heads has over 5,000 engineers and is adding 500 more annually. As part of a global network it caters to needs of over 70 countries, he said.

The Renault-Nissan Alliance, formed in 1998, is the largest and oldest relationship of its kind that has delivered over $ 5 billion savings through technology and investments.

Incubation centre At the convocation, LIBA launched an incubation centre focussed on start–ups in social enterprises. It will incubate over 10 start-ups by 2020. It plans to set up an independent panel to select social enterprises and provide co-working spaces within the campus and offer consulting services, training programmes and networking events to build a strong eco system for start-ups.

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