New alliances are likely to appear on the market, but some carmakers are unlikely to survive in the next decade.
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During Monday’s Reuters Automotive Summit, Carlos Tavares, head of the PSA Group, also spoke about the near future of the automotive industry, which will face an even stronger transition to electrification in the coming years.
This, of course, will require huge financial investments, which are likely to force many automakers to form new partnerships, alliances and consolidations across the automotive industry. At the same time, however, Tavares added that some carmakers may end in the next decade.
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„Only the most agile with the Darwinian spirit will survive,Reuters quoted Tavares as saying. And what exactly should that mean? Tavares, for example, mentioned that PSA had recently stopped investing in the development of internal combustion engines for both the European and Chinese markets and their CO2 are in the long run below the targets required by the EU.
Tavares also confirmed that work is still ongoing on a merger with Fiat Chrysler Automobiles, with which PSA Groupe will form Stellantis, the world’s fourth-largest carmaker. Most of the most demanding tasks have already been successfully completed, and according to current plans, the final merger should really take place sometime in the first quarter of next year.
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One of the first tasks of the newly formed company will be to strengthen its share of the Chinese market, in which Stellantis will have a relatively low share compared to Europe and the USA. At the same time, no global carmaker can afford not to be in the largest car market in the world, as Tavares added in the end.
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