At a time of dramatic changes to global car manufacturing, Spanish carmaker SEAT SA has appointed as head of its finance and IT activities an industry veteran with a depth of experience in transforming companies.
For South Africa-born David Powels the opportunity is the natural culmination of a 33-year journey at parent company Volkswagen, a journey that has taken him to Germany, Brazil, China — and now Barcelona.
“I have been through many waves of transformation and reorganising,” says Powels. “Wherever I have been, one of my core tasks has been to help make things fit for the future. That is the main reason I am here.
“SEAT SA is transforming on all fronts. We are planning a technology transformation from conventional to electric cars. We are transforming our positioning with our sporty car brand CUPRA. And we are transforming our organization to become more agile, more efficient, more robust and more profitable.”
The company’s transformation will be powered by an investment of more than €7 billion in electrification, making it the single largest industrial investment in Spanish history. As part of an industry-wide plan that it has christened “Future Fast Forward,” the carmaker intends to build a giant battery cell factory near Valencia. In 2025 it will launch an urban electric car under its wildly successful CUPRA brand.
“It is an exciting time,” says Powels. “I have been involved in projects building new factories before, but I have never had the opportunity to reshape an entire supply chain. What we are doing will guarantee the long-term future of the automotive value chain in Spain.”
It is the CUPRA brand of high-performance sports cars that is driving the Barcelona-based carmaker toward the electric future. Powered by the success of striking, youthful designs like the Formentor crossover and the all-electric Born hatchback, this year CUPRA is expected to double its revenue to around €5 billion.
“This is the most exciting job I have had. It is an opportunity to make automotive history.”
David Powels, EVP Finance & IT, SEAT SA
For Powels the success of CUPRA is testament to the creativity, enthusiasm and capacity for innovation that characterize both SEAT SA and the city of Barcelona that he now calls home.
“The dynamics here are entirely unlike the megacities such as Shanghai and Sao Paulo where I have lived before,” says Powels.
“You can see this spirit in the genetics of CUPRA. We dare to experiment, to push boundaries, to offer consumers something different. That will be the key to success in the car industry of the future.”
As published in TIME magazine
