The global electric vehicle (EV) market has experienced rapid growth in recent years due to the introduction of legislation and various incentives aimed at reducing greenhouse gas (GHG) emissions and combating climate change. As EVs become more mainstream and demand for more sustainable transportation modes continues to rise, manufacturers are scrambling to innovate fast and gain a competitive edge. However, many quickly realize that they are not well-equipped to deal with the increasing product complexity, stringent regulatory requirements, and rising customer demands that come with getting new products to market. Dispersed teams, manual processes, and disconnected systems make it difficult to keep everyone aligned. In addition, part shortages and other supply chain disruptions impede manufacturers from delivering products on schedule.
To achieve new product development and introduction (NPDI) success, EV manufacturers must have the wherewithal to quickly adapt and overcome these obstacles. This requires a new digital approach that brings together people, processes, and product information to help improve collaboration, optimize designs, and enhance operational efficiency.