North America Automotive Industry Overview
The North American automotive market is consolidated in nature and accommodates several key players such as Ford, Toyota, General Motors, Mazda, Honda, Volkswagen, and others. Several Tier 1, 2, and 3 companies have seen new opportunities in supplying components to these OEMs and simultaneously reducing overall costs. Key companies operating in the market are focusing on different growth strategies to stabilize their position in the market. For instance,
- August 2022: General Motors signed three new sourcing agreements for electric vehicle battery materials, which may help the automaker meet its goal of producing one million electric vehicles per year. The multi-year agreements with LG Chem, POSCO Chemical, and Livent will supply GM with critical materials such as lithium, nickel, cobalt, and cathode active material (CAM)
- August 2022: Ford secured several new raw material suppliers for its electric vehicle batteries, warning that a lack of supply could stymie the automaker's EV ambitions. The company signed agreements with lithium, graphite, cobalt, and nickel suppliers worldwide. Ford also entered new or expanded agreements with mining, processing, and manufacturing firms in North America, Asia, and South America.
North America Automotive Market Leaders
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General Motors
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Ford Motor Company
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BMW AG
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Tesla Inc.
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Stellantis NV
- *Disclaimer: Major Players sorted in no particular order
