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Ford CEO Jim Farley poses next to a model of the all-new Ford F-150 Lightning electric pickup truck at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, April 26, 2022.
Rebecca Cook | Reuters
DETROIT — Ford Motor CEO Jim Farley expects the auto industry’s ongoing transition to electric vehicles to force major consolidation among automakers and suppliers in the years ahead.
Farley said the massive amounts of capital needed to invest in the technologies will force smaller companies to be acquired and put pressure on new electric-vehicle start-ups that are already running into trouble as funding dries up.
He said there will be more acquisitions, compared with the partnerships or…
Source cnbc.com
