This document discusses opportunities and risks in emerging automotive markets. It notes that China, India, and other emerging markets will account for over 40% of global vehicle sales by 2030 due to growing middle classes. While rising incomes and lower costs provide opportunities, risks include economic instability, regulations, materials costs, and partnership expectations. The document recommends automakers form joint ventures for reduced costs, accelerated innovation, and risk diversification. It also suggests leveraging open technologies to improve manufacturing efficiencies.