‘The auto industry can’t sit still, it’s impossible’: How the electric vehicle revolution will drive M&A, according to Bank of America

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.

Energy Energy Latest News, Energy Energy 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. Global giants shouldn’t fall for it China will steal that technology also They are going to use child slavery to dig the cobalt up for the batteries. I don't know why I'm telling you since Rupert Murdoch owns you, this will please you.
Source: WSJ - 🏆 98. / 63 Read more »