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Illustration: Rebecca Zisser/Axios

The global pandemic may be reinforcing the logic for self-driving cars, but the economic fallout is likely to accelerate the consolidation trend that was already underway.

What it matters: Self-driving technology is a difficult — and expensive — challenge, and many companies have decided they are better off pooling resources. Only a handful of well-capitalized players will likely make it across the finish line.

What's happening: Aptiv closed its $4 billion joint venture deal with Hyundai on March 26, in the midst of the crisis.

  • The new company, yet to be named, will be based in Boston, and led by Aptiv's Karl Iagnemma.

What's they're saying: "A couple of years ago, people thought this was a software activity," Iagnemma told Axios. "What the industry has come to realize is that having a deep strategic relationship with an automotive (company) is essential."

  • It's capital-intensive, too: $1 billion is the price of entry for credible AV players, says Iagnemma.

Yes, but: Well-funded independent players can succeed without worrying about being dependent on a single automaker's fortunes, says Sterling Anderson, co-founder of Aurora Innovation, whose A-list backers include Sequoia Capital, Amazon and T. Rowe Price.

  • "These are make or break moments," said Anderson, whose company is focused on automation for commercial vehicles.

What's next: Volkswagen and Argo AI are nearing completion of a $2.6 billion investment deal that will make Ford and VW equal minority shareholders in the automated driving tech company.

What to watch: Fiat Chrysler says it is still committed to a planned merger with PSA Groupe, but both sides are scrambling to preserve cash in light of the crisis, and there's talk that the companies could try to renegotiate terms of the deal.

Go deeper: Automakers lay out back-to-work playbook for coronavirus pandemic

Go deeper

Jul 28, 2020 - Economy & Business

The back-to-work puzzle

Illustration: Annelise Capossela/Axios

With an unending list of factors to consider — including the safety of air-conditioning systems, the risk of using public transportation, schools' reopening schedules and the needs of high-risk employees — the back-to-work puzzle is getting increasingly difficult to solve.

The big picture: At first, companies were pleasantly surprised at how well telecommuting worked, with many firms — including Twitter — saying they might go remote forever. Now, about four months in, remote work doesn't seem so great anymore.

School principals are not OK

Principal Alice Hom (purple jacket) of New York's Yung Wing School P.S. 124 near a vaccination van in November. Photo: Michael Loccisano/Getty Images

The overwhelming majority of secondary school principals experienced frequent stress last school year, according to a RAND Corporation report out Wednesday.

The big picture: The stress levels among female principals and principals of color were especially stark, with nearly 40% in these groups reporting constant job-related stress, compared to about 24% of male principals and 26% of white principals.

It's official: Stock market having worst start to year ever

Data: FactSet; Chart: Axios Visuals

It's been a decidedly ugly start to the year for the stock market, with particular pain in the tech trade.

State of play: As of the end of trading Tuesday — the 16th session of the year — 2022 is now, officially, the worst-ever start in the history of the S&P 500, according to data from Ned Davis Research, a stock market research shop.