Global carmakers, from Toyota (TM) and Volkswagen (VWAGY) to General Motors (GM), have fallen further behind Tesla (TSLA) and Chinese rivals to develop critical software to power their vehicles, which threatens to stifle their ability to secure larger profits in the electric vehicle era, Kana Inagaki and David Keohane of The Financial Times reports. The latest ranking of auto groups’ digital performance from consultancy Gartner shows Ford (F), GM, and BMW (BMWYY) make it to the top 10 while the rest at the top include Nio (NIO), Xpeng (XPEV), BYD (BYDDF), Tesla, Rivian (RIVN), and Lucid (LCID). The annual “digital carmaker index” underlines how large players, such as TM and Volkswagen, have struggled to keep pace with the changes.
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