BMW and JLR's electric vehicle deal shows a car industry in crisis
WiredCollaboration within the auto industry is a rare thing. Since then, the industry has hit severe financial difficulties, with the Society of Motor Manufacturers and Traders calling the troubles the car business faces right now a "perfect storm". New car registrations in 2018 were down 6.8 per cent on the previous year, the biggest drop since an 11 per cent fall back in 2008. Mike Hawes, chief executive of SMMT, told BBC News in January that the growth of electric vehicles and hybrids in the UK was good, but "not growing as quickly as we need" – a 20 per cent increase is not enough to offset a 30 per cent drop in diesel sales sparked by concerns over possible tougher restrictions. In May, Fiat Chrysler proposed a £28.3 billion merger with Renault that would create the world’s third-largest carmaker, behind Toyota and Volkswagen, saving billions with the view to funnelling that cash into the race to compete in electric and autonomous vehicles.
History of this topic
Nissan, Honda announce plans to merge, creating world's No. 3 automaker
Deccan ChronicleNissan and Honda to attempt a merger that would create the world’s No. 3 automaker
Associated Press)
Tata Motors-owned JLR inks pact with BMW to develop next-gen electric vehicles; aims to increase consumer adoption
Firstpost)
Daimler, BMW alliance seek to standardise technology for automated driving cars
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