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After a rough 2020 due to the COVID-19 pandemic, the automotive industry is seeing economic improvements in 2022. Despite geopolitical issues and microchip shortages, the industry is seeing increased profits due to strong demand and higher prices. OEMs are investing in the development of electric vehicles to reduce carbon emissions and comply with stricter emissions regulations. EVs are giving rise to a lot of related technologies such as battery technologies and charging infrastructure. Software is also playing a significant role in EVs and self-driving cars, which have been in development for years.