‘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.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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. Glad I don’t use that bank Sounds like it's time to change banks. Sick of all this back stabbing of our government. I guess I will have to change my bank
Source: cnnbrk - 🏆 393. / 55 Read more »