3M, DowDupont Eye Electric & Self-driving Vehicle Markets
Yes indeed, 3M (MMM) & DowDupont (DWDP), two very large and tenured industrial Dow 30 components, are eyeing and even directly aiming to capture some portion of the electric & self-driving vehicle business that is expected to grow significantly in the coming years. No, they are not looking to offer an entry model but they are seeking to derive revenues from existing product offerings or products that they are developing that will surely be needed by this specific market. 3M (MMM) for example is hoping that their adhesives, coatings and other developing products will be adopted by the batteries & sensors of these future cars. DowDupont (DWDP) on the other hand has their transportation and advanced polymer division focused on participating in these markets as well. One reason is that this market is getting significant attention, which currently represents a fraction of the revenue of these companies, is that respected research firms i.e. IHS Markit projects that the overall market for vehicle cockpit electronics, crash-avoidance, and automation systems, and components for electric, hybrid & fuel cell powered vehicles will nearly triple to almost $183B by 2022.
To learn more about 3M (MMM) & DowDupont (DWDP) and to track their ongoing progress please visit the Vista Partners Dow 30 Coverage Pages.