EV profit relies on more than just sales

The automotive industry is a lucrative business for many stakeholders, with multi-million-dollar deals and valuations regularly grabbing headlines. However, the seismic shift from a century’s worth of internal combustion engine (ICE) dominance into an industry more heavily influenced by electric vehicles (EVs) has changed the financial status quo. All major automakers and their associated suppliers are now being asked to prepare to abandon their ICE expertise and instead turn a profit in an electrified industry.