• The automotive industry includes industries associated with the production, wholesaling, retailing, and maintenance of motor vehicles. The United States has one of the largest automotive markets in the world. Overall, the United States is the world’s second-largest market for vehicle sales and production.
• Global automotive M&A increased in total deal value by $40BN for the 2023 YTD period compared to the same period a year ago.
• The industry is now exploring different revenue models. Revenue opportunities relating to connectivity, Battery-as-a-Service (BaaS), and Vehicle-to-Grid (V2G) are yet to be tapped, as there is a potential for 6% of global electricity production to be stored in batteries within the upcoming 20 years.
• The global electric vehicle market was valued at $163BN in 2020, and is projected to reach $824BN by 2030, registering a CAGR of 18.2% from 2021 to 2030.

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