Connected cars are not only a possibility, but they are indeed on roads across North America, making the new LYNK & CO 03 concept a savvy introduction from the upstart automaker. At a press event ahead of the Shanghai Auto Show, LYNK & CO revealed the production-ready version of the 01 and the 03 concept, as well as a completely new business model set to be introduced in China this year.
In traditional car markets, the most important figure was simply the price of the vehicle itself. With connected cars, the issue of data usage comes into play — cars, what with gas, insurance, and maintenance, are expensive enough on their own, so owners might not be thrilled about the prospect of paying for data as well. To alleviate this, the LYNK & CO 03 and 01 will now come with free data traffic for connectivity.
Why This Trend Is Growing
- Connected Cars
- Disruptive innovation opportunity: Expanding connectivity features and offering free data traffic for better customer experience.
- Data Usage in Vehicles
- Disruptive innovation opportunity: Developing cost-effective data plans and exploring data monetization strategies.
- New Business Models in Car Industry
- Disruptive innovation opportunity: Introducing innovative business models that enhance customer value and revenue streams.
Industries Being Reshaped
- Automotive Industry
- Disruptive innovation opportunity: Integrating advanced connectivity technologies and creating new revenue streams from data-driven services.
- Telecommunication Industry
- Disruptive innovation opportunity: Collaborating with automakers to develop specialized data plans and capitalize on the connected car market.
- Technology Industry
- Disruptive innovation opportunity: Creating software and hardware solutions that enable seamless connectivity and data management in connected cars.
