1、1Autotech&Mobility M&A Overview 2H 2022Autotech&Mobility:everything set for changeThe global automotive industry is seeing tremendousdisruption.In addition to the widely discussed shift toelectric vehicles,a host of other technological andsocietal“megatrends”involvinge-mobility,sustainability,and cu

2、stomer experience are convergingto definitively transform the industry.Traditionalindustry players that fail to keep up with thesetectonic trend shifts will inevitably be left behind.Inrecentyears,electric carsrapidlyestablishedthemselves on the mass market.Today,despite Covid-19 and the semiconduct

3、or and chip shortage,thehunger for electric vehicles is still very much alive,translating into phenomenal growth in the space.Interestingly,while the electric car market is still very.much dominated by Tesla,the EV charging marketcounts a variety of different players vying for a pieceof the pie.Mean

4、while,even the simple way we buy and use carsis changing drastically,with more and more drivers“subscribing”to a car or paying for“on-demand”automotive services.When it comes to the M&A market,players in thesales and after-sales segments(e.g.car dealerships&spare part channels)face the challenge of

5、remainingrelevant or selling at the right time,in anticipation ofsweeping digitalisation.2Autotech&Mobility M&A Overview 2H 2022Sources:Accenture(2022),IEA(2022),McKinsey(2021),ADLittle(2022).Megatrends keeping the industry on its toesAutonomous driving attracts large investmentsand partnerships,but

6、 still has a long way to goInanincreasinglyinterconnectedworld,electric,shared,and autonomous vehicle technology providesolutions to mobility challenges in urban and suburbanareas.Despite uncertainties regarding when this market willtruly take off and how large it will grow,since 2010more than$330 b

7、illion has been invested in over2,000 ACES(Autonomous,Connected,Electric,and.MajorshiftinthecarbuyingexperienceIn a digital and eco-conscious world,the automotivemarket is shifting away from internal combustion andtowards battery power.This electrification,combinedwith digitalisation,is changing the

8、 sales and aftersalesprocess i.e.the way new cars are sold and serviced.Take Tesla,for instance:its sales process takes placeonline,with little to no in-person sales interaction,andcustomers choose from a minimal range of options.Owing to this streamlined process,Tesla staff spendon average five hou

9、rs less than traditional automakerson administrative and customer-facing tasks.In termsof cost-per-sale,selling a car costs Tesla 1.6 times lessthan it does for a traditional automakers.However,while customers benefit from a highly efficient process,they also no longer enjoy the traditional car buyi

10、ngexperience of test drives or vehicle handover.Shared)companies,with over$80 billion investedsince 2019 alone.Of the$330 billion,an estimated$206 billion has been allocated to autonomous vehicletechnologies and smart mobility.Beyond raising funds,the automotive ecosystemrequireshighlyadvancedandpow

11、er-efficientcomputing,connectivity,and cloud service capabilitiesacross all vehicle tiers in order to offer scalable andupgradeable solutions.As a result,several players inthe automotive space are upping their strategy andpartnership game.Recently,Veoneer and Qualcommrecently agreed to collaborate t

12、o deliver scalableAdvancedDriverAssistanceSystems(ADAS),CollaborativeandAutonomousDriving(AD)solutions.Meanwhile,Toyotasnewautomotivesoftware platform Arene will compete with Germanrivals Volkswagen and Daimler,as Volkswagen perfectsthe“VW.OS”software and Daimler aims to roll outits own“Mercedes-Ben

13、z Operating System”in cars by2024.For now,most fully automated driving features requireremote safety operators as a fallback solution untilautonomous driving can deal with all traffic situationswithout any human intervention.SAE Level 2 featuressuch as adaptive cruise control and lane centering have

14、already been widely adopted by the mass market,while SAE Level 3 features are becoming available in agrowing number of cars.3Autotech&Mobility M&A Overview 2H 2022On-demand and subscription servicesOn-demand and subscription models have beenaround for a while,and now car manufacturers arejumping on

15、the bandwagon.For instance,AppleCarPlay,whichmirrorsaniPhonescreenandfunctionality on the infotainment display,will costBMW owners$80.Porsches Taycan electric modelsoffer a range-optimisation feature and lane-keepingassist for a monthly fee.And Tesla drivers now needto pay$200 per month to enjoy the

16、(somewhatmislabelled?)“Full Self-Driving”feature.The bottom line is that,as an alternative to buildingcars with many options and features,companies canproduceonemodelthathasallthefeaturesconsumers desire and charge them for the featuresthey need.The future is on demand and over-the-airUS recalls for

17、 listed automakers since 2020PhysicalOver-the-AirBut for autonomous driving to achieve the desiredlevels of technological readiness(SAE Levels 4 and 5),the vehiclemustoperateindependentlywithoutmanual control.When confined to geofenced areas,arobotaxi can operate completely autonomously atLevel 4,un

18、less affected by severe weather conditionswhere human intervention may be required.Level 5automation would not be limited by these conditions.Market studies foresee positive developments forrobotaxis,with scalable commercial services from2024.In fact,Level 4 vehicles are already operating onpublic r

19、oads.Cruise has begun offering commercialrides to the public in its fully driverless Level 4 vehiclesin San Francisco,while Waymo One is available inArizona and Baidu in two Chinese cities.Connectivity helps futureproof vehiclesA connected car is typically defined as a car that canbe linked to other

20、 services and devices via a network.Besides laptops and mobile phones,this also includesother connected car technology,your own home,office,or parts of infrastructure such as traffic signalsor emergency centres.In other words,our cars have become“drivingsmartphones”and this has also extended thelife

21、cycle of the vehicle.Updates,safety checks andmaintenance take on a whole new meaning:instead ofrequiring expensive and time-consuming visits to thegarage,most services can simply be carried out over-the-air“(OTA).For instance,almost all of Teslas software is updatedOTA.These include updates to soft

22、ware controllingvehicleperformance,braking,chargingandinfotainment.In fact,Tesla has led the auto industry inover-the-air recall updates:analysis of public datashowed that while nearly all recalls issued by NHTSAsince2020requiredphysicalfixes,sevenof.Teslas 19 recalls since January 2020 were address

23、edwith software updates.Sources:Car and Driver(2021),ADLittle(2022).Source:NHTSA(2022).4Autotech&Mobility M&A Overview 2H 20222.1x2.1x2.1x3.1x2.1x1.9x4.7x1.7x1.7x1.8x2.0 x1.8x1.8x3.0 x3.2x9.6x9.6x11.0 x11.1x13.4x13.4x15.5x15.5x15.5x17.2x17.2x10.4x11.8x11.8x7.8x0.0 x2.0 x4.0 x6.0 x8.0 x10.0 x12.0 x14

24、.0 x16.0 x18.0 x20.0 x 0 10 20 30 40 50 60 70 801H 20152H 20151H 20162H 20161H 20172H 20171H 20182H 20181H 20192H 20191H 20202H 20201H 20212H 20211H 20220.0 x2.0 x4.0 x6.0 x8.0 x10.0 x Trailing 30-month revenuemultiple0.0 x4.0 x8.0 x12.0 x16.0 x20.0 x Trailing 30-month EBITDAmultipleM&A summaryTotal

25、 number of deals&valuation multiples in Autotech&Mobility,2015-2022 Forthetrailing30-monthrevenuemultiples,50%of all deals were in the 0.9xto 5.4x range.The minimum revenuemultiple paid out was 0.1x,while themaximum was at 7.4x.During the same period,the trailing 30-month median EBITDA multiple came

26、 in at7.8x,with 50%of all deals in the 6.5x to10.3xrange.TheminimumEBITDAmultiple paid out was 5.6x,while themaximum disclosed multiple was 14.9x.7.4x3.2x0.1x14.9x7.8x5.6xM&A market activity at an all-time highWith 64 deals recorded in the first half of 2022,dealvolume in the Autotech&Mobility secto

27、r is currentlyat an all-time high.With regard to valuations,thetrailing 30-month median revenue multiple is currentlyat 3.2x the highest level since 2018.However,the trailing 30-month median EBITDAmultiple dropped by 34%from 11.8x in 2H 2021 to7.8x in 1H 2022.SPACs remain relevant in the industryInv

28、estors,startups,technologycompanies,andregulators alike became fascinated with SPACs in 2020and 2021.More than 40 SPACs targeted automotivetech companies in 2021 alone,proving SPACs to be afavourite for the industry.This year,German EVmaker e.GO will go public via Athena SPAC(July2022)and Auto tech

29、firm Ecarx will go public via$3.8billion SPAC merger(launched May 2022).Sources:451 Research/S&P Capital IQ/Hampleton Research(2022).5Autotech&Mobility M&A Overview 2H 2022InvestorAcquisitionsin 30 monthsThree most recent acquisitionsImawebImaweb 2000 S.L.2000 S.L.Providence Strategic Growth Provide

30、nce Equity Partners5FordonsDataFordonsData Nordic AB Nordic AB Automotive dealer management softwareCusteedCusteed SAS SAS Auto retailer CRM SaaSStiegerStieger Software AG.Software AG.Automotive dealership management softwareEnvaseEnvase Inc.Inc.The Firmament Group3GeoStampGeoStamp Industries Indust

31、ries Geospatial location data&analytics SaaInfositeInfosite Technologies Inc.Technologies Inc.Trucking dispatch SaaS&softwareDrayMasterDrayMaster Enterprise Enterprise rate management system(RMS)for intermodal trucking carriersKeyloopKeyloop UK Limited UK Limited Francisco Partners Management LP fka

32、 CDK Global UK Limited3SERTI Informatique Inc.SERTI Informatique Inc.Automotive dealership management SaaSFISC Limited FISC Limited Automotive finance SaaSMotor Document Solutions Limited Motor Document Solutions Limited Document management SaaSRepairifyRepairify Inc.Inc.Kinderhook Industries LLC3Au

33、toMobileAutoMobile Technologies Inc.Technologies Inc.Automotive repair&reconditioning management SaaSMobitechMobitech International Inc.International Inc.Mobile auto repair ERP SaaSRoot Four Imagination Inc.Root Four Imagination Inc.Vehicle diagnostics systemsTRANSPOREON TRANSPOREON GmbH GmbH HgCapi

34、talLLP3NexogenNexogen KftKft.AI-based full truckload logistics(FTL)SaaSSupplyStackSupplyStack nv nv Transportation management SaaSTNX Limited TNX Limited Freight procurement automation SaaSJ.D.Power J.D.Power ThomaBravo LLC fka J.D.Power and Associates Inc.2Tail Light Tail Light Automotive F&I menu&

35、reporting SaaSSuperior Integrated Solutions Inc.Superior Integrated Solutions Inc.Automotive finance&insurance SaaSValsoftValsoft Corporation Corporation Inc.Inc.Valsef Capital2AIM Computer Solutions Inc.AIM Computer Solutions Inc.ERP for automotive production part suppliersASE Automotive Solutions

36、ASE Automotive Solutions Automotive software&servicesTop 10 investors past 30 months147Number of acquirers whomade 1 acquisition26Number of active acquirers during the past 30 months6Autotech&Mobility M&A Overview 2H 2022$612 million$612 million05 JanEaton Corporation plc acquiresRoyal Die and Stamp

37、ing Co.Inc.Royal Die and Stamping Co.Inc.$316 million$316 million09 FebValeo SE acquires Valeo Siemens Valeo Siemens eAutomotiveeAutomotive GmbHGmbH$199 million$199 million20 MayMeritor Inc.acquires Siemens AG Siemens AG Commercial Vehicles BusinessCommercial Vehicles Business$185 million$185 millio

38、n03 MarchE2open Parent acquiresLogistyxLogistyx Technologies LLCTechnologies LLC$90 million$90 million26 JanCazoo Group Ltd acquiresbrumbrumbrumbrum SpASpA$65 million$65 million08 FebC Inc.acquires AccuAccu-Trade LLC(assets)Trade LLC(assets)LARGEST DISCLOSED NON-SPAC DEALS OF 1H2022Top trends&larges

39、t transactionsDeal activity in the auto industry has never been higher,as manufacturers look to capitalise on the shift towards electric vehiclesTeslas direct sales model,which eliminates the need for dealerships,is gaining broad following from other OEMs“Feature bloat”is driving the chip shortage n

40、ew cars,loaded with tech,are on a collision course with buyersTesla subscription service launches in California with 100 Model 3s,aims for fleet of 10,000The automotive industry is set to grow number of units,but traditional automakers are seen to decline in enterprise value7Autotech&Mobility M&A Ov

41、erview 2H 2022Data breakdown geography and subsector,past 30 mos.Headquarters of Autotech targetsHeadquarters of acquirers of European targetsLAST 30 MONTHSEnterprise Applications for the automotive industryremains the largest M&A segment in this sector,accounting for 44%of all Autotech deals in the

42、 past30months.DealstargetingcompaniesintheEmbeddedSoftware&Systemssegmentanincreasingly popular and publicised area represent26%of the deal volume in the past 30 months.This is.nodoubtbecause automotiveOEMs and theirsuppliersfacetremendouspressuretodeliverdifferentiating mobility experiences or risk

43、 being leftbehind.Accordingly,Internet commerce&contenttransactions account for 14%of all Autotech deals,and are trending towards growth as car buying andselling shifts towards online commerce.Enterprise ApplicationsCustomer retention&CRM,dealership managementsystems,automotive PLM software.Internet

44、 Commerce&ContentOnline vehicle classifieds,vehicle auction websites.Embedded Software&SystemsADAS,connected car systems,self-driving software.Mobility&Fleet ManagementRide sharing&hailing,e-mobility,parking applications,fleetmanagement systems.Over the past 30 months,55%of all transactionsworldwide

45、 targeted a North American company,compared to 34%targeting a European company.Meanwhile,66%of European targets were bought by.acquirers that were also European showing howintense intra-European M&A activity is currently,andhow many acquirers seek strategic partners withinEurope.26%16%44%14%RoW12%Ro

46、W5%North America 55%North America 29%Europe66%Europe34%8Autotech&Mobility M&A Overview 2H 20220.0 x1.0 x2.0 x3.0 x4.0 x5.0 x6.0 xSub-sector overviewM&A activity in the Enterprise Applications segmentincreased slightly in 1H2022,with 20 deals comparedto 18 deals in 2H2021.The trailing 30-month median

47、revenue multiple came in at 2.8x,with 50%of all dealsannounced being in the 1.4x to 4.1x range.The lowestrevenue multiple disclosed was 0.1x,while the highestwas 5.4x.Not enough EV/EBITDA data was disclosedto show a representative trailing 30-month medianEBITDA multiple range.Enterprise Applications

48、CARS closes acquisition of Accu-TradeInFebruary,C,aleadingautomotivemarketplace platform that provides a set of digitalsolutions,acquired the Accu-Trade Group.Accu-Trade includes real-time,vehicle identification number(VIN)-specific appraisal and valuation data,instantguaranteed offer capabilities a

49、nd logistics technology.CARS paid$65 million at closing using a combinationof cash on hand and revolver draw.According to the acquirer,the acquisition of Accu-Trades appraisal technology will facilitate CARS entryinto the rapidly growing multi-billion digital vehicleacquisition market.In addition,Ac

50、cu-Trade furtheradvances CARS platform strategy and accelerates its.sell-it-yourself capabilities,giving the approximately11 million annual private-party car sellers in the UStheoptiontoselltoanotherconsumer or tooneofthousandsofcertified dealers.end-to-end capabilities while building on a competiti

51、veadvantages and delivering additional shareholder value.Following this acquisition,CARS will be launching new2.8x5.4x0.1xTrailing 30-month revenue multipleACQUIRED8 Feb$65 million7476H20132H20131H20142H20141H20152H20151H20162H20161H20172H20171H20182H20181H20192H2019

52、1H20202H20201H20212H20211H20229Autotech&Mobility M&A Overview 2H 2022Internet Commerce&ContentCazooacquires brumbrumIn January,Cazoo,Europes leading online used carmarketplace,announced the acquisition of brumbrum,Italys leading digital car retailer and subscriptionplatform.The transaction will repo

53、rtedly combineCazoos market-leading brand,platform and fundingwith brumbrums team,local market expertise andcommercialrelationshipsacrossItalyand,onceintegrated,will accelerate the launch of Cazoos fullproposition throughout Italy by the middle of thisyear.Cazoo will acquire brumbrum for 80 million

54、in a mixof cash and Cazoo shares.Following its recentlaunches in France and Germany and its acquisitions in.on the tails of Cazoospurchase of Swipcar,aSpanish used car onlinesubscriptionservice,in2017;and of Cazana,aUK data insights platformintheEuropeanautomotiveindustry,in2021.Spain and Italy,Cazo

55、o will now have a strongpresence across each of the five largest Europeanmarkets for used cars.Indeed,the acquisition comes.Sub-sector overviewM&A activity in the Internet Commerce&Contentsegment more than doubled in 1H2022,with 13 dealscompared to 6 deals in 2H2021.The lowest revenuemultiple disclo

56、sed was 2.2x,while the highest was7.4x.,with 50%of all deals in the 2.7x to 6.2x range.Not enough EV/EBITDA data was disclosed to show arepresentativetrailing30-monthmedianmultiplerange.Trailing 30-month revenue multiple0.0 x2.0 x4.0 x6.0 x8.0 x4.4x7.4x2.2xACQUIRED26 Jan$90 million8497492

57、125976131H20132H20131H20142H20141H20152H20151H20162H20161H20172H20171H20182H20181H20192H20191H20202H20201H20212H20211H202210Autotech&Mobility M&A Overview 2H 2022Sub-sector overviewM&A activity in the Embedded Software&Systemssubsector increased slightly in 1H2022,with 19 dealscompared to 15 deals i

58、n 2H2021.The trailing 30-month median revenue multiple came in at 2.1x,and50%of all deals were in the 0.8x to 3.4x range.Theminimum disclosed revenue multiple paid out was0.6x,while the maximum was 7.4x.Not enoughEV/EBITDAdatawasdisclosedtoshowarepresentativetrailing30-monthmedianmultiplerange.Embed

59、ded Software&SystemsHARMAN Acquires AposteraIn February,HARMAN International,a wholly-ownedsubsidiary of Samsung Electronics,announced theacquisition of Apostera,a Germany-based automotivetechnology company.Aposteras augmented reality(AR)and mixed reality(MR)software solutions will expand HARMANsaut

60、omotiveproductofferingsandpositionthecompany at the forefront of automotive AR/MRexperience design.Aposteras mixed reality solutioncombinesAugmentedReality,MachineLearning,Computer Vision,and sensor fusion in a hardware-agnostic software platform.digital transformationofthe industry,”said AndreyGolu

61、binskiy,CEOofApostera.The transaction was ledby Hampleton.Combined with HARMANs digital cockpit productportfolio,these new software solutions will bridge thegap between the physical and digital worlds.“We areproud to join HARMAN,a visionary leader inautomotive technologies that has been central to t

62、he.Trailing 30-month revenue multiple0.0 x2.0 x4.0 x6.0 x8.0 x2.1x0.6x7.4xACQUIRED10 FebUndisclosed355715191H20132H20131H20142H20141H20152H20151H20162H20161H20172H20171H20182H20181H20192H20191H20202H20201H20212H20211H202211Autotech&Mobility M&A Overview 2H 2022Sub-sector overvi

63、ewM&A activity in the Mobility&Fleet Managementsegment increased further in 1H2022,with 12 dealsinked compared to 9 deals in 2H2021.Not enough.Mobility&Fleet ManagementBrightDrop Acquires Tech Startup MarainInJune,BrightDrop,thetechnologycompanydecarbonisinglast-miledelivery,is acquiringfleetoptimis

64、ation software from Marain,a California-basedtechnology startup.BrightDrop will integrate Marainsartificialintelligence-poweredfleetoptimisationsoftware into BrightDrops ecosystem of last-milesolutions to analyse,forecast and identify multi-modalsolutions for fleet customers as they plan their journ

65、eyto full-fleet electrification.As commercial fleets ramp up electrification efforts,there are increased challenges around operationalizinga highly complex delivery system,including interpretingdata,predicting trends and controlling assets withinfleets.bringing Marains softwarein-housewillallowBrigh

66、tDrop to help fleetcustomersmaximiseuptime,improveefficienciesandkeepgoods flowing through thedelivery ecosystem 24/7.A single delivery today can include multiple touchpoints between vehicles,hubs,drop off locations,driversandfleetmanagersthat allmust workseamlessly together to get packages to custo

67、mers ontime,every time.Downtime is a significant cost,andACQUIRED10 JunUndisclosed67710389121H20132H20131H20142H20141H20152H20151H20162H20161H20172H20171H20182H20181H20192H20191H20202H20201H20212H20211H2022EV/EBITDA or EV/Revenue data was disclosed toshow a representative an ac

68、curate and representativetrailing 30-month median multiple range.12Autotech&Mobility M&A Overview 2H 2022EV Industry headlines&key transactions Despite continuing supply chain disruptions,globalelectric car sales are expected to grow by 56%to 10.6m units in 2022.The EU parliament approved a ban on t

69、he sale of new petrol and diesel cars by 2035.US-based EV subscription startup Autonomy placed a$1.2 billion order for 23,000 EVs in 2022Tesla expands Supercharger access to all other brands EVs in Europe,announcing plans to do the same in North AmericaNissan exec says new European emissions rules w

70、ill make combustion engine unviableHeyCharges underground charging solution raises$4.7 million seed led by BMW i VenturesABB acquires controlling interest in InChargeEnergy,strengthening its EV charging solutions in the USCharging company Chargenode Group swallows up competitor Opigo,creating a gian

71、t for electric car chargingBlink Charging acquires UK leader in electric vehicle infrastructure battery chargingSchneider Electric buys EV Connect to open up its EV-charging optionsDateAcquirerTargetTarget countryTarget descriptionDeal amount29 JulyBorgWarner Inc.Rhombus Energy Solutions,Inc.USEV ch

72、arging&power control systems$185m14 JuneBlink Charging Co.SemaConnect Inc.USEV charging infrastructure&systems$160m10 JuneSchneider Electric S.E.fkaSchneider S.A.EV Connect Inc.USEV charging management SaaSUndisclosed25 MayABB LtdNumocityTechnologies Pvt Ltd.IndiaIntelligent EV charging management S

73、aaSUndisclosed23 MaySK E&S Co.LtdEverCharge Inc.USEV charging stationsUndisclosed02 MayChargeNode Group ABOpigo ABSwedenEV charging stations&postsUndisclosed26 AprilBlink Holdings BVElectric Blue Ltd.UKEV charging infrastructure&systems$16.9m8 FebruaryVontier CorporationDriivz Ltd.IsraelEV charging&

74、energy management SaaSUndisclosed27 JanuaryABB LtdIn-Charge Energy Inc.USEV charging stations services&SaaSUndisclosed13Autotech&Mobility M&A Overview 2H 2022EVs&charging Top trends(1/2)-1%-7%-16%2%69%18%33%112%Global vehicle sales growth YOYGas-PoweredElectric2018 2019 2020 2021Source:ARK InvestSou

75、rce:Accenture,ARK Invest,CAAM,Automobility LtdTheseeminglyunstoppablegrowthofEVsElectrification and digitalisation are clear drivers of thisindustry-wide revolution.Sales of electric vehicles(EVs)doubled in 2021 from the previous year,reaching a new record of 6.6 million.Nearly 10%ofglobal car sales

76、 were electric cars in 2021,four timesas much as in 2019,bringingthe total number ofelectric cars on the worlds roads to about 16.5 million a threefold increase over 2018.More and more automakers are pivoting their productportfolios toward hybrid and electric vehicles.ThePorsche Group,for example,ai

77、ms to add electric carsto 80 percent of its new car sales by 2030.With aneven more ambitious goal,Stellantis aims to make 100percent of its European car sales EV sales by 2030.In Europe and across all automakers,the EV share ofsales is set to reach 50 percent or more by 2030 thats well above the glo

78、bal average which is expectedto rise only from 12 to 25 percent over the sameperiod.The success of electric cars is driven by several factors,but sustained political support to address the globalclimate crisis and local air pollution concerns is possiblythe most important.Indeed,public spending andi

79、ncentives for e-vehicles reached nearly$30 billion in2021.Meanwhile,a growing number of countries havecommitted to phasing out internal combustion enginesor have ambitious targets for vehicle electrification inthe coming decades.ChineseEVsconqueringtheWesternworldThe developments of the automobile m

80、arket in Chinaare unprecedented:while the market was down 6.6%year-over-year in the first half of 2022,sales of“newenergy vehicles”,as they are called in China,were up120%YoY in the same period.Therearethreeessentialdriversbehindthisdevelopment:1)Cost incentives:Chinese EV manufacturers compete with

81、the automotive giants worldwide in terms of volume andprice by offering more models at lower prices.The likes ofXPENG,Polestar and NIO are overtaking OEMs such asAudi,BMW or Mercedez-Benz.2)Easy distribution through D2C model:Most of the playersfollow the D2C approach,like the pioneer Tesla.3)Techno

82、logical advance:The majority of these new Chinesecars are,like Tesla,designed as smartphones on wheelsand are thus already technologically more advanced thanthe internal combustion engine or“ICE design which,incontrast,was only equipped with an electric motor and atouch screen.Overall,local Chinese

83、brands(in particular BY,whichcontinued its dominance as volume leader in the NEVmarket in June)grew sales their sales volume by 11%between 2021 and 2022.Foreign brands across theboard experienced double-digit declines in the firsthalf of 2022.This makes it all the more clear howmuch European EV manu

84、facturers are falling behind inthe second biggest auto market and largest EV market.14Autotech&Mobility M&A Overview 2H 202200New ZealandIcelandDenmarkNorwayIndiaBrazilGermanySwedenUnited KingdomUnited StatesEuropeFranceWorldChinaKoreaCharging points per EVEVs&charging Top trends(2/2)Incr

85、easingdemandforEVchargingFor the current momentum in electric car sales to besustained,larger segments of the population need tohave access to convenient and affordable charginginfrastructure,both publicly accessible and privatecharging stations at homes,workplaces and otherlocations.Governments mus

86、t continue to facilitateinvestment and minimise barriers to the expansion ofcharging infrastructure.In the European Union,the2014AlternativeFuelsInfrastructureDirective(AFID)regulates the use of public utilities for electricvehicles.The directive recommends that EU memberstates achieve 10 electric v

87、ehicles per public chargingstation by 2020.In 2021,the average ratio of electricvehicles to charging stations in the European Unionwas 14,up from almost 11 in 2020 and above therecommendation of 10.The number of publiccharging stations worldwide reached almost 1.8million in 2021,of which one third w

88、ere fast chargingstations.Almost 500 000 chargers were installed in2021,which is more than the total number of publicchargers available in 2017.According to a new cross-industry study based on analysis by McKinsey,up to6.8 million public charging points would be neededacross the EU by 2030 to achiev

89、e the proposed 55%CO2 reduction for cars.This figure is almost double the number proposed bythe European Commission in its proposal for anAlternative Fuels Infrastructure Regulation(AFIR),which is currently being negotiated in the EuropeanParliament and Council.This means that up to14,000 public cha

90、rging points for all vehicle segmentswould need to be installed per week across the EU-compared to less than 2,000 per week currently.Source:IEASource:IEA(Global EV Outlook 2022),McKinsey,BloombergExponentialgrowthintheEVchargingmarketMore than$4.8 billion was injected into the EVcharging industry t

91、his year.This is a combination ofroll-out announcements,debt financing,investmentand acquisitions.BNEF expects cumulative investment in chargingworldwide to exceed$360 billion by 2030 and over$1 trillion by 2040 to meet the needs of EV fleets.Anet-zero scenario to electrify the entire fleet by 2050w

92、ould require more than US$1.4 trillion.00.20.40.60.840Over$1 Trillion nedeed11 kilowatts50 kW150 kW350 kW1000 kWSource:Bloomberg15Autotech&Mobility M&A Overview 2H 2022EV charging Selected highlightsEV Connect acquired by Schneider Electric toaccelerateEVrevolutionEV Connect,a premier ele

93、ctric vehicle chargingsolution provider,announced that its acquisition bySchneider Electric,the leader in energy managementandautomation.Withastrongfoundationinsustainabilityande-mobility,SchneiderElectricsacquisition of EV Connect will enable the company toaccelerateitsgrowth.Alongwiththecurrentman

94、agement team,CEO and founder Jordan Ramerwill continue to lead EV Connects operations as adistinct subsidiary,with continued focus on customerservice and the Companys overall mission.We arethrilled to partner with Schneider Electric.They notonly support our strategic goals,but fully embrace thevalue

95、 of electricity as a transportation fuel managed bya robust and feature-rich networked EV charging.ABB acquires controlling interest in InChargeEnergyABB announced the acquisition of a controlling stakein electric vehicle commercial charging infrastructuresolutions company InCharge Energy.The additi

96、on ofInCharge Energy will strengthen ABBs e-mobilitydivision in the North American market by broadeningitscustomerbaseandexpandingitsfleetelectrification software and digital services offering.The transaction is part of ABB e-mobilitys growthstrategy and is intended to accelerate the expansionof its

97、 portfolio to include turnkey EV infrastructuresolutions to private and public commercial fleets,EVmanufacturers,ride-share operators,municipalities,and commercial facilities owners.“As a world leaderin sustainable transport electrification from chargingsolutionsforcars,busesandtruckstorailinfrastru

98、cture and on-shore marine electrification ACQUIRED14 Julplatform,saidJordanRamer,CEO and founderatEVConnect.WithSchneiderwearepositioned to strengthenour presence in the EVmarket,andwelookforward to the journey aswe open a new chapterfor EV Connect.“ACQUIRED27 Janwe expect to continueto outgrow this

99、 strongmarketbasedonmarket-leadingtechnologyandinnovation.”said TarakMehta,businessarea.PresidentofABBsElectrificationbusinessarea.16Autotech&Mobility M&A Overview 2H 2022About HampletonPartnersHampleton Partners is at the forefront of international mergers and acquisitions advisory for companies wi

100、thtechnology at their core.Hampletons experienced deal makers have built,bought and sold over 100 fast-growing tech businesses and providehands-on expertise and unrivalled international advice to tech entrepreneurs and the companies who are looking toaccelerate growth and maximise value.With offices

101、 in London,Frankfurt,Stockholm and San Francisco,Hampleton offers a global perspective with sectorexpertise in:Autotech&Mobility,IoT,AI,Fintech,Insurtech,Cybersecurity,VR/AR,Healthtech,Digital Marketing,Enterprise Software,IT Services,SaaS&Cloud and E-Commerce.SelectionofHampletonAutotech&Mobilitytr

102、ansactionsConclusion&contactsMichel AnninkMichel AnninkDgrowth fundingacquired byacquired byacquired byacquired byacquired byM&A activity within the global Autotech&Mobility sector continues to accelerate.As we predicted in our previous report,the first half of 2022 recorded the highestnumber of M&A

103、 transactions to date(64),continuing the trend from the past 18months.Valuation multiples(revenue)are maintaining their upward trend and are now attheir highest levels since 2018.Interestingly however,EBITDA valuations are at theirlowest levels since 2015,reflecting the margin pressures and rising c

104、osts of capitalthe industry is currently suffering from.Aided by governmental regulation and stimuli(for example,the EUs ban on new fossil-fuel cars from 2035,the EVincentives as part of the Inflation Reduction Act in the US and the extension of Chinas EV subsidies),it is increasinglybecoming clear

105、that the“ICE-age”is truly over as the entire industry is rapidly shifting from the internal combustionengine towards battery electric-powered vehicles.Having reached a tipping point in 2021,EV sales around the worldcontinue to show exponential growth curves and EV charging infrastructure following s

106、uit with a reported$4.8 billionin roll-out announcements,investments,debt financing and acquisitions already this year.Apart from the shift to electric propulsion and vehicles increasingly becoming software-centric,automotive businessmodels are also changing,spurring global M&A activity in the retai

107、l and after-sales segment and further majorinvestments in what promises to be the next major disruptive force:autonomous driving.Hampleton provides independent M&A and corporate finance advice to owners of Autotech,Internet,IT Services,Digital Commerce,and Software companies.Ourresearch reports aim

108、to provide our clients with current analysis of the transactions,trends and valuations within our focus areas.Data Sources:We have based our findings on data provided by industry recognised sources.Data and information for this publication was collated from the 451 Research database,a division of Th

109、e 451 Group and part of S&P Global;Capital IQ,a product of S&P Global;TechCrunch;CB Insights;and more.Disclaimer:This publication contains general information only and Hampleton Ltd.,is not,by means of this publication,rendering professional advice or services.Before making any decision or taking an

110、y action that may affect your finances or your business,you should consult a qualified professional adviser.Hampleton Ltd.shall not be responsible for any loss whatsoever sustained by any person who relies on this publication.2022.For more information please contact Hampleton Ltd.Hampleton produces

111、regular reports on M&A activity in the following sectorsHampleton produces regular reports on M&A activity in the following sectorsHR TechInsurtechIT&Business ServicesAR/VRArtificial Intelligence Autotech&MobilityCybersecurityDigital CommerceEnterprise SoftwareFintechHealthtechYou can subscribe to these reports at http:/ FranciscoFollow HampletonFollow Hampleton