The industry has reached "Peak Auto," and competition is brutal — players are now looking for growth through diversification.
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Automakers and suppliers in search of a lucrative side hustle are dabbling in AI, energy and defense as a way to offset stagnant growth in vehicle sales.
Why it matters: Carmakers have tried the diversification game before — but today's economic and technological shifts may give those efforts more staying power.
Ford and GM are backing away from electric vehicles and moving into the battery storage business. And it all comes back to AI.
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