Bank of America: The automotive industry is re-embracing internal combustion engines, and Tesla is still expected to expand its market share

The Bank of America report points out that the global automotive industry is facing a dual pressure from power systems and policies, forcing companies to refocus their strategies on traditional internal combustion engine fields. In the next four years, key factors for the survival of car manufacturers include the speed of new vehicle replacement, competitiveness of sales channels, and market share. Bank of America warns that car manufacturers must rely on their internal combustion engine product lines to maintain cash flow in order to cope with periods of severe volatility. Tesla and other new entrants in the electric vehicle market are expected to expand their market share, while Nissan faces the risk of contraction