“Automakers and suppliers are benefiting from strong demand despite the economic clouds and are showing resolve in their commitment to shift to electric vehicles, but expectations are high for the industry to hit record economic-profit levels these next two years even while funding for the beginning of the BEV transition is taking place ahead of sufficient volumes for economies-of-scale and cost competitiveness,” said Mark Wakefield, global co-leader of the automotive and industrial practice at AlixPartners and a managing director at the firm. “While many companies are planning their own transition, proactive supply-chain redesign and rigorous cost management needs to be improved to avoid costly surprises down the road.”