Newsletter – May, 2022

We are witnessing exciting times in the global auto industry, which is going through a radical transformation in the entire value chain. The transition from Internal Combustion Engine (ICE) to battery powered electric vehicle (EV) is happening at a rapid pace. OEMs and component manufacturers are left with only two options – Pivot or Perish. Companies are spending top dollars in R&D and acquisitions to stay in the game. The transition is also supported by governments across the world through subsidies and incentives, mainly to limit oil imports and reduce carbon emission.