May 19, 2020

Tesla's Model S is the fastest production car available

Tesla
Tesla Model S
Electric vehicles
Automotive industry
Sumit Modi
2 min
Tesla's Model S is the fastest production car available

Tesla’s Model S is now officially the fastest production car available to buy.

 

The company claims that the Model S P100D sedan is capable of reaching 60 miles per hour in just 2.5 seconds. With this achievement as another feather in its cap, Tesla can expect to continue dominating the electric car market, despite past troubles.

Due to production costs and manufacturing hiccups, Tesla has yet to prove itself profitable regardless of its enormous popularity. However, other established car companies breaking into the electric market simply aren’t in the same league, and earlier this year Tesla took on 400,000 pre-orders for the Model S. These numbers failed to waver even when a driver using the Autopilot mode on his Tesla car lost his life in a dramatic crash.

Sales of other brands of electric cars have fallen across the board, but Tesla’s sales are up – it is expected to deliver 80,000 cars this year, which is 29,000 more than last year.

CEO Elon Musk, in a media call earlier this week, said of the Model S’s abilities: “It’s quite a historical milestone that the fastest car in the world of any kind is electric. I think that really says something about where the future is headed. In the future we are going to look at gasoline cars the way we look at steam engines today. Like they are quaint, but it’s not really how you get around.”

While Tesla continues to thrive in many ways, the decreasing popularity of electric vehicles in general – especially battery-electric cars – may prove Musk’s optimism wrong. Other electric car startups, such as Coda and Aptera, were once Tesla’s contemporaries – now long gone.

So will electric vehicles really save us from our dependence on gas and diesel cars?

 

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May 15, 2021

M&A activity key lever for future tech sector growth

Technology
dealmaking
EY
M&Aactivity
Kate Birch
2 min
With M&A activity in the technology sector soaring, dealmaking is likely to be the key lever for growth as businesses look to recover post-pandemic

Despite the continuing uncertainty of the pandemic, the tech sector has witnessed soaring dealmaking activity over the past year, rocketing in the second half of 2020, with the last quarter of 2020 a record one for M&A activity, and momentum continuing into 2021.

Dealmaking in tech sector soars in past year

And the latest figures bear this out with the number of technology M&A deals totalling US$208.44bn globally in Q1 2021, according to GlobalData. While the US holds top spot both in volume of deals (1034) and total value (US$140.61bn), Europe ranked next with 649 deals (US$44.49bn) with the UK continuing its reign as Europe’s biggest M&A market with 204 deals.

In particular, megadeals – those valued at US$5bn or more – soared in 2020 representing 59% of all global technology sector deal value in 2020, up from 47% in 2019, according to the latest edition of the EY Technology Global Capital Confidence Barometer.

This tech sector trend towards megadeals is backed up by EY’s CCB data, with 16% of tech sector respondents planning to pursue transformative deals valued at US$5bn or more in the near-term.

While technology deal activity “all but stopped at the beginning of 2020 after fluctuating between historic highs and lows, companies pivoted quickly and tech M&A exploded in the second half of the year”, says Barak Ravid, EY Global TMT Leader for Strategy and Transactions. 

M&A activity level for tech sector growth

Looking ahead to the future, technology executives are optimistic, with nearly half (47%) expecting profitability to fully rebound this year, according to CCB data, compared to 23% across all sectors, and with more than half (51%) planning to pursue M&A in the next year in order to sustain growth.

According to Ravid, M&A activity is increasingly becoming a key lever for growth as businesses look to recover.

“To position themselves for future revenue growth, tech companies are now adjusting their M&A strategy to focus more on a target’s business resilience, digital technology alignment and to gain market share through consolidation,” says Ravid.

However, with an increasingly competitive deal market and ongoing geopolitical tensions, the majority of tech execs expect to see more competition in the bidding process for assets over the next year, primarily from private capital.

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