Michelle Ritchie is PwC’s global industrial manufacturing & automotive deals co-leader. She is a partner with PwC US. Nicola Anzivino is PwC’s global industrial manufacturing & automotive deals co-leader. He is a partner with PwC Italy. Nathan Whitley is a director with PwC US. The authors would like to thank the following colleagues for their contributions: Mark Anderson, David Bard, Cesare Battaglia, Danny Bitar, James Brewerton, Mike Brooks, Gabriele Capomasi, Wanfeng Chen, Sandie Costa, Matthew Davy, Coolin Desai, Cara Haffey, Motoyuki Hattori, Sven Heinemann, Martin Holzapfel, Michael Huber, Darren Jukes, Jin Jun, Michael Kamel, Nobutaka Kanazawa, Darrell Kennedy, Gentaro Kobayashi,…