Rethinking Automotive: Key Takeaways from the 2024 MEMA Annual Conference

This episode is sponsored by Lockton, click here to learn more MEMA, the Vehicle Suppliers Association, just concluded its 2024 Annual Conference, a premier gathering for automotive suppliers, thought leaders, and innovators committed to navigating the industry's toughest challenges and emerging trends. Inside MEMA, discussions tackled the industry's biggest question: how to adapt and thrive amidst escalating tariffs, China's rapid advancements, and the growing influence of artificial intelligence. Day one set a powerful tone as MEMA President Collin Shaw opened with a commitment to building high-performing, diverse teams—a pledge that resonated deeply with attendees. A spotlight session saw top leaders from Nissan, GM, and Toyota share how they're 'wargaming' future political and supply chain challenges. Their focus? Supporting suppliers and maintaining transparent communication.Then came a show-stopper: the BYD Seagull, a sleek EV priced under $10,000, which caught Jan's attention. Terry Woychowski from Caresoft explained that this low-cost model underscores China's competitive edge—its tight integration and simplicity. To stay competitive, he argued, the industry must embrace "quantum change," leaving incremental improvements behind.Day two continued with AI thought leader Noelle Russell, who urged companies to align AI innovations with core values and deploy them carefully. Her stance? AI isn't a job killer—it's a task killer, set to eliminate mundane tasks and boost workforce creativity. Then came Michael Dunne with a wake-up call about China's rising influence, urging the industry to pick up the pace before it's too late.The conference wrapped up with supplier CEOs Swamy Kotagiri and Ray Scott advocating a future based on aligned interests and transparency. Jan left with MEMA's powerful message ringing in her ears: "Together, we are invincible." Tune in for Jan's inside take on MEMA 2024—and discover why now is the time to rethink, unlearn, and move fast in automotive.Your HostJan Griffiths is the architect of cultural change in the automotive industry. As the President & Founder of Gravitas Detroit, Jan brings a wealth of expertise and a passion for transforming company cultures. Additionally, she is the host of the Automotive Leaders Podcast, where she shares insightful conversations with industry visionaries. Jan is also the author of AutoCulture 2.0, a groundbreaking book that challenges the traditional leadership model prevalent in the automotive world. With her extensive experience and commitment to fostering positive change, Jan is at the forefront of revolutionizing the automotive landscape. Reach out to her at [email protected] in this episode:MEMA Original Equipment Suppliers Annual Conference 2024Why Automotive Leaders Need Emotional Intelligence with Daniel Goleman