Technology advancements, pressure from consumers and investors, and new government policies are spurring major changes in the automotive industry. In StrategicCFO360, Daron Gifford outlines what this means for CFOs looking to draw the attention of investors and increase value.
It was only nine years ago that the Tesla Model S launched to great fanfare from environmentalists … and a collective yawn from the traditional auto industry.
Fast-forward to today and the electric vehicle maker’s market cap nearly equals that of all major automakers that produce in North America — combined. It’s even possible we’ll never see a new generation of the internal combustion engine.
This dizzying pace of change is only going to accelerate in the coming years. Technological advancements, shifting government policies and pressure from consumers and investors are hastening the move toward total electrification.