Tuesday, June 11, 2019 12:06 AM

AUTOMOTIVE INDUSTRY POURING BILLIONS INTO MOBILITY COMPANIES - CONSULTANCY.EU

The global automotive industry has in the last 24 months alone invested $120 billion in mobility start-ups and companies as incumbent players anxiously prepare for the years to come. Investors have poured the record breaking level of financial capital into promising start-ups and scale-ups across ten technology clusters.

The automotive industry finds itself in a period of major transition. Several megatrends, including autonomous driving, connected cars, electrified vehicles[1]and smart mobility, are leading the sector down a new path. As a result, technology-led innovation has become a key component of corporate strategies to remain competitive, and this is according to a new study by McKinsey & Company[2]clearly showing in the merger & acquisition and corporate venturing strategies of companies in the automotive landscape.

Since 2010, tech start-ups and other new entrants have received more than $220 billion in funding, with the pace of investment accelerating in recent years. In the period between 2014 and 2018, average investments across all technologies were seven times higher ...

News source: GOOGLE NEWS

See also: Lyle Industries