Detroit-based auto supplier American Axle & Manufacturing to merge with UK-based Dowlais in a $1.44B cash and stock deal

The merger brings together AAM's expertise in driveline systems with the global metal forming capabilities of Dowlais, creating a more diversified automotive supplier with a bigger geographic footprint. They expect cost savings through operational efficiencies and scale. [AAM Newsroom]

Driving the news: Electric vehicles require far fewer parts than combustion ones, and suppliers are adapting. Whatever happens in the U.S. with EVs, the auto industry is global and players are dealing with different sets of regulations and increased Chinese competition.