Are we facing Carmageddon?

Traditional vehicle manufacturers are under growing pressure as the shift to electric mobility accelerates and competition intensifies. New players are entering the market, technology cycles are shortening, and leadership in batteries, software, and supply chains is becoming decisive. For legacy OEMs, the transition to electric vehicles represents both a major opportunity and a serious risk. Failure to adapt quickly could turn this moment into a Kodak moment — or even “Carmageddon” — as new competitors reshape the industry and set the rules for the future. 

So where do the traditional car makers stand today? 

In this session, we examine the global EV race through both an industry and policy perspective. China now leads in electric vehicle technology, particularly in batteries and electric powertrains, and is setting the pace for the global market. In just a few years they have leapfrogged everyone else and become the world’s leading car exporter, helped by more state aid and a highly competitive battery industry. 

In Europe, regulatory certainty toward 2035 has been weakened as the EU stepped back from a hard zero emission mandate and downgraded the target to a 90% emissions reduction in 2025. This shift has increased planning complexity, diluted the electrification signal, and raised concerns about slower progress and higher investment risk for OEMs. Meanwhile, Japan—once a technology leader—now lags in EV adoption, with manufacturers increasingly looking to China for direction.  

Bringing together voices from industry and policymakers, this session explores what it will take for legacy car manufacturers to survive and thrive in the electric era — and whether the sector is approaching its own Carmageddon.