KnowledgeAgent Automotive M&A report H1 2024

Although automotive mergers and acquisitions (M&As) were hampered by high interest rates, political uncertainty and lower consumer demand in the first half of 2024, some key deals took place in this period. These can be found in the KnowledgeAgent Automotive & New Mobility team’s report on major automotive M&As in H1 2024, which follows our automotive M&A report for Q4 2023.

The report is available for download and comprises an overview of the period’s top five acquisitions as well as two deep dive case studies.

The following five transactions are included:

  • VW grants Rivian a convertible note that will convert to ~8% of Rivian’s shares in the future. Moreover, a joint venture between the companies is planned, which would lead to additional investments of €3.7 bn
  • Pacific Avenue Capital takes over Sogefi’s filtration unit completely. The business is renamed to Purflux. The divestment allows Sogefi to focus on more lucrative activities
  • Hyundai acquires 35% of Motional, which was a 50/50 joint venture between Hyundai and Aptiv prior to the transaction
  • Volvo Cars (VC) distributes ~30% of Polestar’s shares to VC shareholders. Geely, VC’s main owner, takes over ~24% of Polestar’s shares
  • IM Motors raises more than €1 bn in a Series B financing round from various Chinese investors to work on new technologies and support its overseas expansion

 

 

Three out of five transactions involved acquiring stakes in electric vehicle (EV) brands, with one further investment focused on electric robotaxis. The remaining acquisition refers to a supplier of vehicle filtration components and systems, stated to be well-positioned to support OEMs in the transition to EVs.

Thus, these selected automotive M&As emphasize the importance of electrification for the automotive industry. Moreover, autonomous vehicles, another key topic in the industry, are also featured in one of the deals.

This report is the KnowledgeAgent Automotive & New Mobility team’s second compilation of key automotive M&As for a certain period. Further versions will be published in the future.

KnowledgeAgent’s Automotive M&A publications are available on our blog page:

  1. 08-2022: How car OEMs pursue their strategy
  2. 06-2023: How automotive suppliers pursue their strategy
  3. 04-2024: The KnowledgeAgent Automotive M&A report Q4 2023

Do not hesitate to contact our Automotive & New Mobility team for any kind of research projects in the automotive field.

Sources:

Download

The KnowledgeAgent automotive M&A report H1 2024

Compilation of the most significant M&As in the automotive industry in the first half of 2024

Download

Download

The KnowledgeAgent automotive M&A report H1 2024

Compilation of the most significant M&As in the automotive industry in the first half of 2024

Download

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