EV charging has a newfound boost from government incentives and industry spending. The charging space has picked up momentum as automakers are pouring billions into EV development. Because of these struggles, not every company will make it — some smaller companies are betting that larger ones will gobble them up and take on their assets through mergers and acquisitions. "For the smaller companies, it's hard to scale up on their own. The auto industry's latest M&A frenzyGiven the long lead time on vehicle development, automakers have relied on consolidation to integrate expensive technology into their portfolios.

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