From geopolitics to increased regulation, CEOs at major automakers are stepping up their efforts to stay relevant in a changing industry.
require 20% of sales revenue from carmakers to come from full-electric vehicles, or"Ultra Low Emissions Vehicles" by 2025. That target is set to rise to 40% of sales by 2030.
As a result, M&A and strategic moves into the space are increasingly likely. A failure to do so could leave automakers high and dry as major players snap up lithium — the element behind EV batteries — assets and boost market share in the EV industry.The deal ultimately fell through but the attempted merger's existence came from the automakers' need to boost their presence in the EV space and was a sign of the market's electrification imperative.
A Bank of America note from the end of May noted that the failure of the FCA deal had sparked a conversation within the industry about electrification. They indicated that major automakers such as GM, BMW, and Ford could all be ripe for joint ventures, strategic acquisitions, and mergers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A New Road for Electric Vehicles in ChinaHeard on the Street: China needs more and better electric-vehicle batteries. Its solution? Welcome back previously blacklisted global battery giants.
Read more »
BMW Unveils Concept Vehicles You Drive, Or Don'tBMW unveils two concept vehicles showcasing technology aimed at giving the driver the choice of hands-on driving or leaving it to the car to operate autonomously.
Read more »
Alabama auto dealer gives away gun, Bible and American flag for each vehicle sold'We talked about what our community is about, and what are things they stand for,' Palmer told Newsweek. 'It's a safe community. They're very proud of their country and almost everybody here likes to
Read more »
JPMorgan's Jamie Dimon: Student lending in the U.S. is a 'disgrace' and it's 'hurting America'JPMorgan's Jamie Dimon: Student lending in the U.S. is a 'disgrace' and it's 'hurting America' via SallyPancakes
Read more »
Bank of America will no longer do business with companies that run detention centersBank of America will end its association with companies that provide prisoner and immigrant detention services at both the state and federal levels. The move comes amid growing public concern about the nation's border policies.
Read more »
Pushy dealmakers ignore their best M&A advisersAbbVie and Occidental have structured huge acquisitions so shareholders don’t get a vote. Research suggests that when owners get a say, as happens more often in the UK, it can save a lot of scorched value. Bypassing them means acquisitive CEOs are losing a valuable sanity check.
Read more »