"Carmaking represents an "enabling industry," according to a report documenting the state of the U.S. auto sector released Monday by the Information Technology & Innovation Foundation (ITIF), a think tank focused on science and technology policy. The sector occupies a central role in the country's manufacturing and innovation ecosystem, to the extent that it underpins industrial capacity and expertise in the production of defense goods and dual-use technologies, according to the report."
"But U.S. carmakers have largely ceded the title of automotive innovators-in-chief to global competitors, particularly China, which leads the world in motor vehicle production, as well as exports. As China barrels ahead to dominate the global auto market and lead in electric vehicle production, the U.S. industry could retreat into an even more diminished role, according to the report, risking falling further behind in a crucial front of its competition with China."
""The United States must act, and act now" Stephen Ezell of ITIF, one of the report's co-authors, said in a statement. "The United States can still rebuild auto competitiveness if it treats the sector as what it is: a strategic industry tied directly to national power.""
The U.S. auto industry historically drove economic growth and reshaped manufacturing, transportation infrastructure, and city development around car-centric culture. Despite its major role in the 20th century, the industry now struggles to match global competitors. Carmaking functions as an enabling industry that supports manufacturing and innovation capacity, including expertise used to produce defense goods and dual-use technologies. U.S. carmakers have ceded innovation leadership to global competitors, especially China, which leads in motor vehicle production and exports and is advancing in electric vehicle production. If U.S. decline becomes permanent, national and strategic security could be at risk, and the United States may need to rebuild competitiveness by treating the sector as strategic to national power.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]