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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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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

Erica Pandey, author of @Work
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.

Mike Allen, author of AM
6 hours ago - Politics & Policy

Biden adviser Cedric Richmond sees first-term progress on reparations

Illustration: "Axios on HBO"

White House senior adviser Cedric Richmond told "Axios on HBO" that it's "doable" for President Biden to make first-term progress on breaking down barriers for people of color, while Congress studies reparations for slavery.

Why it matters: Biden said on the campaign trail that he supports creation of a commission to study and develop proposals for reparations — direct payments for African-Americans.

Cyber CEO: Next war will hit regular Americans online

Any future real-world conflict between the United States and an adversary like China or Russia will have direct impacts on regular Americans because of the risk of cyber attack, Kevin Mandia, CEO of cybersecurity company FireEye, tells "Axios on HBO."

What they're saying: "The next conflict where the gloves come off in cyber, the American citizen will be dragged into it, whether they want to be or not. Period."