PSA boss expects more carmaker consolidation in electric shift

(Reuters) – The CEO of France’s PSA Group expects further consolidation of the automotive sector as carmakers invest vast sums in producing electric vehicles, he said on Monday, adding that some will not make it through the coming decade.

“Only the most agile with a Darwinian spirit will survive,” CEO Carlos Tavares said at the Reuters Automotive Summit teleconference.

(Reporting by Nick Carey; Editing by David Goodman)