Just a decade and a half ago, the then-CEO of General Motors Co. Rick Wagoner observed to Larry Burns, at the time GM’s head of research and strategy, that not many industries stay the same for a century. But the automobile industry, Wagoner added with some anxiety, had so far been the exception. Its business model remained that pioneered by Henry Ford with the Model T a century earlier — “gas-fueled, run by an internal combustion engine, rolling on four wheels.” “What’s the car of the next hundred years going to look like?” Wagoner asked.
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