Some of the trends in affordable innovations in the automotive industry include collaboration and cost-effective component sourcing. Companies are working together across borders to create affordable vehicles. For example, Tata Motors of India collaborated with Germany, Italy, Japan, and the United States to create a $2,000 Nano car. Each country contributed cost-effective components that reflected their particular area of expertise. This resulted in a quality-built, more affordable car.
Innovation is more than creativity; it is a process that is structured, with rules and best practice...
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