Autonomous Driving Industry Update Göttingen Corporate Finance June 11, 2021
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Autonomous Driving Industry Update
Göttingen Corporate Finance
June 11, 2021
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Table of Contents
1. Autonomous Driving Industry Overview
2. Autonomous Driving: Transactions
3. Autonomous Driving: Recent Developments
3
Global Industry Overview
Global Autonomous Vehicles’ Market Size With sustained investments from technology majors and the automotive OEMs,
the expansion in autonomous driving market is expected to be a sustained one.
CAGR: 11.5% For most OEMs, the short- to medium-term outlook is towards deployment of
partial / semi autonomous vehicles in the mass market, and a conditional
$39,4 automation in premium segments.
$37,2 $38,3
In $ Billion
Despite high investment focus, the industry was impacted by the pandemic-led
$31,9
slowdown. This was, to a large extent, a supply chain disruption, and led to the
$27,3 relatively lower market size estimate for the year 2020.
$24,1 $23,3 With major markets in North America and Europe resuming business,
recovery is expected to be fast.
Yet, some challenges may persist till end-2021 – the ongoing shortage in
2019 2020 2021 2022 2023 2024 2025 semiconductor / chips being the notable example in this context.
Global Sales of Autonomous Vehicles The global COVID-19 outbreak, while causing business slowdown, may have also
propelled the case for autonomous driving. Select recent examples appear to be
10,7 supporting this hypothesis.
In May 2020, the Mayo Clinic partnered with Jacksonville Transportation
Authority for autonomous shuttles carrying medical supplies in Florida.
7,6
In December 2020, the company Nuro received policy approval for a
Million Units
5,4 commercial driverless delivery service in California.
3,9 In May 2021, the GM-owned company Cruise, received approval for
2,8 giving passenger rides in its prototype robotaxis.
2,0
1,4
The adoption of autonomous vehicles however will be subject to several factors,
not only in terms of the disruptive technologies at play, but also the critical
2019 2020 2021 2022 2023 2024 2025 policy and regulatory progress.
Source: Statista, Allied Market Research, Fortune Business Insights
4Autonomous Driving: Technology Evolution
Evolution of Technology Profile Automation Levels
Level 0
1950 – 2000 No Automation
Safety/ Convenience Features No autonomy; the driver
Cruise Control performs all driving tasks
Seat Belts
Antilock Brakes
Level 1
Driver Assistance
2000 – 2010 Vehicle controlled by the driver, but some
Advanced Safety Features assistance features may be included
Electronic Stability Level 2
Blind Spot Detection Partial Automation
Forward Collision Warning Vehicle has combined automated
functions, like acceleration and steering,
2010 – 2016 Lane Departure Warning
but the driver must remain engaged
Advance Driver Assistance Level 3
Features Conditional Automation
Rearview Video Systems Driver is a necessity, but is not required to
Automatic Emergency Braking monitor the environment and must be
ready to take control with notice anytime
Rear Cross Traffic Alert
Lane Centering Assist
2016 – 2025 Level 4
High Automation
Partially Automated Safety Features
The vehicle is able to perform all driving
Lane Keeping Assist
functions under certain conditions. The
Adaptive Cruise Control
driver has an option to control.
Traffic Jam Assist
2025+ Self-Park Level 5
Full Automation
Fully Automated The vehicle is able to perform all driving
Safety Features functions under all conditions. The driver
has an option to control.
5Regional Segmentation
*Regional Market Share (2020)
Europe - 24%
($5.6 billion)
North America - 43%
($10.0 billion)
Asia-Pacific - 15%
($3.5 billion)
Latin America - 7%
($1.6 billion)
MEA - 11%
($2.6 billion)
North America has the largest share of the global autonomous vehicle market – led mainly by the US. This can be understood by the ecosystem led by OEMs and the technology
majors, as well as recent regulatory approvals (such as in California).
Europe has been trailing as the second-largest market for the autonomous driving industry. This can be partly correlated to the region’s policy-led thrust on reducing carbon
footprint in mobility through electric vehicles. The ongoing technology transition in European automotive industry is also driving the push towards autonomous driving.
Source: Grand View Research, Transparency Research, Research Nester, Fortune Business Insights
6Market Segmentation (By Type and Application)
Global Autonomous Vehicle Market by Automation Level Global Autonomous Vehicle Market by Application
8%
21%
Fully Autonomous Transportation
$24.1 B $24.1 B
Semi-Autonomous Defense
79%
92%
The semi-autonomous segment has the predominant share owing the to substantial Transportation includes the applications in industrial and commercial segment. This
growth from the level 2 and level 3 automation segments. Although the adoption rate segment is expected to capture the highest share owing to the technological
of these segments is low, the penetration rate is higher. advancement and a rising number of commercially viable use cases.
Projected Market Share by Degree of Automation
Level 2 autonomous vehicles are anticipated to account for over 90% of the total
market in 2030.
15% 10%
Projected Market
Share
The self-driving vehicles, capable of running under urban autopilot mode, are
15%
(2025-2035) expected to be available by 2022; and by 2025 fully driverless cars are expected
2025 2035 to reach the mass market at a global level.
75% The market share of autonomous cars are expected to improve even further by
85% 2035 with a gain of almost 10% compared to 2025 thereby capturing almost 25%
of the overall automotive market share. The US is expected to be a focal point
Non-automated Partially-automated among global markets in the autonomous car segment.
Non-automated Semi-automated
Fully-automated
Source: Transparency Research, Research Nester, Fortune Business Insights, greyb.com
7Preparedness for Autonomous Vehicles
Top 10 Countries in Preparedness Index Score In late 2018 KPMG published a report based on a global survey
executed by the organization, where they rated the countries
The Netherlands 27,7 based on infrastructure and preparedness to adopt autonomous
driving. In the study, the countries were rated based on four
major parameters, policy & legislation, technology & innovation,
Singapore 26,1 infrastructure and consumer acceptance.
According to the study, The Netherlands is found to possess the
US 24,8
highest level of readiness for adopting autonomous driving at a
massive level. This can mainly be attributed to the favorable
Sweden 24,7 regulatory policy, strong infrastructure and general acceptance of
technology innovations in the country.
UK 24,0 Singapore is also found to hold a strong position in the index with
the second highest score. The country’s progressive regulatory
framework is the most important factor that contributed to the
Germany 22,7 ranking. For example, the country passed an amendment to its
Road Traffic Act in 2017, according to which, self-driving cars will
be allowed for testing on its streets.
Canada 22,6
Although the US scored high on the index, it ranked third among
UAE 20,9 the top countries. This is because of the relatively lower base of
infrastructure as compared to the Netherlands and Singapore.
Moreover, an overall poor acceptance for autonomous vehicles,
New Zealand 20,8 made it occupy the third position in the index despite aggressive
testing programs and highest number of companies developing
self-driving technology compared to other countries.
South Korea 20,7
Source: Statista, KPMG
8Key Developments
Collaboration
In February 2021, Aurora Innovation, a California-based autonomous driving start-up, announced that it has entered into a long-term
Strategic
strategic partnership with Japanese automotive conglomerate Toyota Motor Corp. and its Japanese automotive component supplier, Denso
Corp. to manufacture autonomous vehicles and deploy them on ride hailing network including Uber. By the end of 2021, the companies
are expecting to launch and test their first driverless vehicle, branded under Toyota Sienna.
In February 2021, Goodyear Ventures, an Ohio-based venture capital firm announced that it plans to invest in TuSimple, a global
Investment
Activity
autonomous trucking technology company. Goodyear has added TuSimple to its growing investment portfolio. Previously in 2020,
Goodyear entered into a strategic partnership with TuSimple to provide tires and tire management solutions to TuSimple’s Autonomous
Freight Network (AFN).
In January 2021, Baidu Apollo, a Chinese driverless vehicle project developed by the Chinese multinational technology company, Baidu,
Testing
Permit
announced that it has received a permit from the California Department of Motor Vehicles (DMV) authorizing the company to test
driverless cars on public roads in the state.
Partnership
Strategic
In July 2020, Mobiley, an Intel company entered into a partnership with Willer, a transportation service provider to introduce self-driving
robo taxi service in Japan as well as other parts of Southeast Asia.
In February 2020, Pony.ai, a California based autonomous vehicle technology company announced to raise $400 million from Japanese
Raising
Fund
automotive giant, Toyota in order to leverage their partnership to offer mobility services. The collaboration was mainly intended to develop
autonomous driving technology along with deployment of mobility services.
Source: Modor Intelligence, Fortune Business Insights
9Demand Drivers
Autonomous ride sharing technology is expected to significantly drive market growth as multiple players in the space are intended to
deploy capital investment for the potential opportunity in the driverless ride sharing market. Vehicle automation in combination with ride
Autonomous Ride
hailing technology are attracting several prominent players for investment in the ride sharing business model. For example, Google Spin-
Sharing Drives Growth
off Waymo introduced autonomous taxis in Arizona and Phoenix, players like Uber, Ford and General motors already started
conceptualizing their plans to launch similar kind of services in the market in the near term.
Stringent regularity norms and rising government support for safety of driverless vehicles is expected to boost market growth.
Stringent Regulatory Independent studies show that consumers across the world, are mainly concerned about the safety of driverless cars and this is one of
Policies for Safety of the major factors obstructing consumer acceptance towards such technology. Under such a scenario, stringent compliance with
Driverless Vehicles government norms may help gain consumer confidence in driverless vehicles. Many government bodies like New Car Assessment
Program, The Institute of Highway Safety Insurance etc. are setting up safety levels that are required to be satisfied by manufacturers.
Adoption of advanced driver assistance system (ADAS) is another factor driving autonomous vehicle industry growth. ADAS uses Artificial
Intelligence (AI) and other advanced features in assisting drivers to avoid distraction and thereby reduce accident possibilities.
ADAS Adoption Boosts
Implementation of ADAS in vehicles has greatly improved owing to rapid adoption of technologies like software algorithms, sensors,
Market
cameras, processors and mapping. As there is an increasing concern of safety and security of autonomous vehicles, market players are
largely implementing ADAS in their vehicles, which is helping in the overall driverless vehicle market growth.
Multiple players in the automotive industry, mainly related to hardware and software segment have increasingly started to strategically
Increased
enter the autonomous driving space owing to its favorable trends. Hence, over the last three years partnerships and investments have
Collaborations and
drastically increased in the given space. These collaborations are expected to grow through 2026 majorly driven by government support
Partnerships
and promotion of autonomous driving by private players across the globe.
Source: Mordor Intelligence, Fortune Business Insights
10Investment Trend Analysis (1/3)
Total disclosed investment amount from 2010-2019 in technology ($bn) Funding for companies in the AV technology ($bn)
37
29
17,9
11
6,1
4,7
1,8
0,1 0,1 0,4
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
AV Funding Self driving vehicles industry is promising huge profits and lucrative returns
on investments and this is the reason VC investors are eager to invest their
Company Name Amount ( $mn) Funding Stage Lead Investors Date money securing a share of future profits.
Aurora Innovation 530 Series B Sequoia Capital 2/7/2019
Auto tech giants are partnering with tech firms and mobility service
Ike 52 Series A Bain Capital Venture 2/5/2019 providers. The most notable example in recent months has been Amazon’s
acquisition of self-driving tech developer Zoox for $1.2 billion
May Mobility 22 Series A Cyrus Capital Partners 2/12/2019
Auto tech startups attract attention of a more diversified pool of investors
Nuro.ai 940 Post-Series A SoftBank Vision Fund 2/11/2019
with new entrants including investors from aerospace, semiconductor and
TuSimple 95 Series D Sina Corp. 2/13/2019 others.
Source: McKinsey & Company Report, Crunchbase
11Investment Trend Analysis (2/3)
The EU future is heavily reliant on maintaining its status as a leader in the
automotive industry. But Europe is lagging compared to other nations in the The Netherlands is the leader in the AV setting an example to the other
race to bring self-driving cars to roads. countries in terms of staying equipped to perform strongly in the AV space.
Since the sector directly and indirectly accounts for more than 6% of EU
employment, the EU is planning to double its financial support for
autonomous vehicle research and development.
Between 2014-20, the EU allocated €300 million to fund research on In 2018, Sweden opened the world’s first electric-charging road, used
autonomous vehicles. by an electric truck which was stretched around 2km near Arlanda
airport. Currently, the country is more focused on adopting electric
vehicles and developing infrastructures that would be used by AV’s.
Regional Variation in Investments (2010-2019)
Total disclosed
Region No. of companies
investment ($ bn)
The UK continues to perform well in the AV industry. This forward-thinking
approach of the government resulted in the UK to become the first country
United States 84,5 471
to give green signal to self-driving cars on motorways and the first such
vehicles are expected to appear on public roads during 2021.
China 50,6 154
United Kingdom 34,1 51
Germany is one country that has a national strategy for autonomous
Israel 18,5 43
vehicle. The country has also adopted legislation that will allow driverless
vehicles on public roads by 2022 after UK. This will help companies to
European Union 10,7 227 deploy robotaxis and delivery services in the country at scale.
Source: McKinsey & Company Report
12Investment Trend Analysis (3/3)
FUNDING ACQUISITION Other Investments
• Among other key investments
Acquired in autonomous vehicles are
$1Bn Seed Funding
Rivian’s with $700mn funding
Motive: Earlier Investments: and Aurora Innovations Inc.’s
Strengthening Honda’s position Series A $6.5m - with $350mn in 2019
via new value creation in the Panasonic
• Uhnder raised $45mn in Series
areas of digital and connected Seed Round ¥221.6m -
$2.1Bn Corporate Round Funding C round funding from investors
mobility products Incubate Fund
Sensata Technologies. The
startup develops a digital
Most Active Investors radar-on-chip designed to
Teaming up ArgoAI will help the companies to deliver automate for safety and better
Company No. of Investments
unmatched capabilities, scaling up the business and increasing feedback response
geographical footprints 18
• Toyota invested $400mn in
14 Pony.ai, a self driving startup
based in the US and China
14
NAVYA is a Paris based company that develops, manufactures
and commercializes autonomous driverless, and electric 11 • Automakers did a lot of startup
vehicles that combine robotics, digital and driving technologies. investing in 2019 with
9 changing preferences of
Total Funding - €64.1Mn
• Venture Round - €4.1Mn 6 consumer. Their investment
• Series B Round - 360Capital - €30 Mn activities show how much
5 individual company is giving
• Post IPO Equity NAVYA - weightage to new innovations
European Investment Bank- €30Mn 2
and technology by investing
2 large stakes in startups
Source: Crunchbase, CB Insights
13Table of Contents
1. Autonomous Driving Industry Overview
2. Autonomous Driving Industry: Transactions
3. Autonomous Driving Industry: Recent Developments
14Key Transactions
About the Target About the Target
Voyage has built the technology to bring autonomous transportation Savari builds advanced wireless sensor hardware and software
to those who need it most, beginning in retirement communities. technologies for automotive manufacturers, the aftermarket and
smart cities.
The Transaction The Transaction
The company raised a total of $51.2 million excluding the deal with The company has raised a total of $20.0 million excluding the deal
Cruise. Earlier funding data include Series B funding of $31.0 million with Harman International Industries. Includes Aviva Industries from
from Franklin Templeton Investments and seed round funding from Series B funding.
Khosla Ventures.
Funding Highlights Acquisition Highlights
Financial terms of the deal were not disclosed; the majority of Savari’s software and hardware technology will enhance HARMAN’s
Voyage’s 60-person team will move over to Cruise and the company’s comprehensive automotive telematics and advanced driving
co-founder and CEO Oliver Cameron will take on a new role as vice assistance systems (ADAS) capabilities, and expand the company’s
president of product. Voyage’s partnership with FCA, now called strengths in 5G Edge, multi-access edge computing (MEC) and smart
Stellantis, will also end once the acquisition with Cruise closes. infrastructure solutions.
Management Quote Management Quote
“There’s probably some aspect of, we were around someone who just said, ‘okay, “Adding Savari’s MEC technology and team of experts is an important component
you got to get it done — here’s the task, figure out how to get it done’ and that’s a as we continue to build an open platform based on 5G and V2X, working with
lot of entrepreneurship.”, Dan Kan, CEO of Cruise several partners across the industry to meet the unique needs of our customers
globally.” Christian Sobottka, President, Automotive Division, Harman
15Autonomous Vehicle Industry: M&A Transactions (1/2)
Date Acquirer Target Target Country Target Summary Deal Value
11-May-21 Siemens Padam Europe Padam offers AI & mobile powered SaaS solutions for on-demand transit. N/A
monoDrive is a company developing an autonomous vehicle simulator. Its Ultra High Fidelity
National
04-May-21 monoDrive US (UHF) simulator allows autonomous vehicle manufacturers to test virtual vehicles in virtual N/A
Instruments
worlds.
Steele Auto Humber Motors Ford is a dealership of new and used Ford cars, trucks & SUVs with a large
04-May-21 Humber Motors Ford Canada N/A
Group inventory of vehicles and a professional team.
Red Autocentres is a leading provider of automotive diagnostics, calibration and programming
24-Mar-21 asTech Red Autocentres Europe N/A
services for the collision and mechanical markets.
Voyage has built the technology to bring autonomous transportation to those who need it most,
15-Mar-21 Cruise Voyage US N/A
beginning in retirement communities.
OURS Technology is a developer of sensor fusion and optical sensing technology intended for
26-Feb-21 Aurora OURS Technology US N/A
autonomous driving and robotic applications.
Harman
Savari builds advanced wireless sensor hardware and software technologies for automotive
26-Feb-21 International Savari US N/A
manufacturers, the aftermarket and smart cities.
Industries
16Autonomous Vehicle Industry: M&A Transactions (2/2)
Date Acquirer Target Target Country Target Summary Deal Value
Churchill Capital
23-Feb-21 Lucid Motors US Lucid is a luxury mobility company reimagining what a car can be. N/A
Corp IV
Ike is a self driving truck startup, focused on building automation technology to help improve the
23-Dec-20 Nuro Ike US N/A
trucking industry.
17-Dec-20 Cazoo Drover Europe Drover is the UK’s leading independent monthly car subscription service for consumers N/A
Blink Charging U-Go offers affordable and convenient EV charging services representing the infrastructure
24-Nov-20 U-Go Stations US N/A
Co. necessary for nationwide EV adoption.
A French company specialized in the design and construction of autonomous and electric
15-Oct-20 The Henry Ford NAVYA Europe N/A
vehicles.
07-Oct-20 Fortellix Metamoto US Simulation as a Service for Autonomous Systems N/A
Garrett is a cutting-edge technology provider that enables vehicles to become safer, more
20-Sep-20 KPS Capital Garrett Motion Europe $2,100 mn
connected, efficient and environmentally friendly
17Autonomous Vehicle Industry: Fundraising Transactions (1/4)
Date of Strategic/ Investor Money Raised
Target Company Series/Name HQ Country Description Other Investors
Funding Financial Name ($)
Scania
Scantinel The high-tech start-up developing next generation LiDAR
30-May-21 Financial Growth Seed Round 9.1M Europe -
Photonics technology for autonomous vehicles.
Capital
All-weather Automated Driving. 20% Fuel Economy on human-
27-May-21 Financial Angelsdeck BaseTrack Seed Round 1.0M Europe -
driven heavy-duty trucks
Mitsui
Sumitomo Upstream The Company is a Centralized Security & Analytics Platform for -
20-May-21 Financial Series C 36.0M Asia
Insurance Security Connected & Autonomous Vehicle Fleets.
Company
Wadi Derq is an MIT spinoff that uses AI to power an award-winning
North
12-May-21 Financial Makkah Derq Seed Round 0.5M predictive platform, help eliminate crashes and create safer and -
America
Ventures smarter roads
EQT Ventures, Ericsson,
Maersk Growth,
NordicNinja VC, Norrsken
Build Capital Einride is an electric and autonomous freight tech company that
06-May-21 Financial Einride Series B 110.0M Europe VC, Northzone, Plum Alley
Partner designs and develops technologies for transportation systems. Investments, Soros Fund
Management, Temasek
Holdings
Softbank
Venture Youibot is committed to achieving intelligent safety, providing -
06-May-21 Financial Ventures Youibot 15.5M Asia
Round professional autonomous inspection mobile robots.
Asia
Alstom, Bpifrance,
Search Light EasyMile is a high-tech startup specialized in providing both,
Continental, McWin,
28-Apr-21 Financial Capital EasyMile Series B 66.7M Europe software powering autonomous vehicles and smart mobility
NextStage, Searchlight
Partners solutions.
Capital Partners
18Autonomous Vehicle Industry: Fundraising Transactions (2/4)
Date of Strategic/ Investor Money Raised
Target Company Series/Name HQ Country Description Other Investors
Funding Financial Name ($)
Hyundai
Maven Ventures,
Motor Ottopia is the teleoperation company, providing a platform that
23-Apr-21 Strategic Ottopia Series A 9.0M Asia MizMaa Ventures,
Company, IN enables humans to safely control any type of vehicle from afar.
Nextgear Ventures
Venture
Oxbotica powers the navigation, perception, user interface,
15-Apr-21 Strategic Ocado Group Oxbotica Series B 13.8M Europe fleet management, and other features needed to run self- -
driving vehicles.
Fifty Years,
Trucks North Soma Capital, Y
23-Mar-21 Financial Faction Seed Round 4.3M Driverless electric vehicles at a fraction of the cost of a car.
Venture America Combinator
Capital
Armada Ventures,
Francisco Carvolution is a mobility services provider reshaping car
25-Feb-21 Financial Carvolution Series C 16.6M Europe Redalpine, Ringier Digital
Fernandez ownership through their fully digital subscription service.
Ventures
CPE Capital,
Guotai Junan China Growth Capital, GSR
International, North Plus develops self-driving trucks to enable large-scale Ventures, Lightspeed,
10-Feb-21 Financial Plus Series D 200.0M Manbang Group, Mayfield
Wanxiang America commercialization of autonomous transport.
International Fund, SAIC, Sequoia Capital,
Investment
BYD Company, Changjiang
Automobile Electronic,
Great Wall Horizon Robotics focuses on artificial intelligence computing for
08-Feb-21 Strategic Horizon Robotics Series C 350.0M Asia Dongfeng Motor Group, Sunny
Motors smart mobility. Optical Technology, Xingyu
Co.,Ltd
5Y Capital, Brunei Investment
Ontario Agency, ClearVue Partners,
North Pony.ai is a startup that builds full-stack autonomous driving
08-Feb-21 Financial Teachers' Pony.ai Series C 100.0M CPE, Eight Roads Ventures,
America solutions. Fidelity China Special
Pension Plan
Situations
19Autonomous Vehicle Industry: Fundraising Transactions (3/4)
Date of Strategic/ Investor Money Raised
Target Company Series/Name HQ Country Description Other Investors
Funding Financial Name ($)
InnoEnergy, Contrarian Ventures,
SpeedUp Automating defect analysis for power lines. Bringing 3 Expansion Capital,
02-Feb-21 Financial Hepta Airborne Series A 2.4M Europe
Venture dimensional world to everyone, everywhere. Markku Jääskelainen,
Capital Group Thorgate Ventures
Subvenio Antler, Next Human
19-Jan-21 Financial Skyqraft Seed Round 2.2M Europe Skyqraft provides autonomous aerial infrastructure inspection.
Invest Ventures
CDB Equipment Manufacturing
Industial Investment Fund, CMC
Zhengzhou Capital Group, Hengjian Emerging
13-Jan-21 Strategic WeRide Series B 110.0M Asia WeRide is a global leading autonomous driving company. Industries Fund, Kinzon Capital,
Yutong Bus
Qiming Venture Partners,
Sinovation Ventures, Tryin Capital
Entrepreneurs NeurobotX is a combine state-of-the-art neuroscience, AI and
11-Jan-21 Financial Roundtable Neurobotx Seed Round 0.1M Europe robotics in order to create spatial intelligence for autonomous -
Accelerator drones & cars.
BGF Ventures, Doxa
Oxbotica powers the navigation, perception, user interface,
Partners, Halma, Hostplus,
06-Jan-21 Financial BP Ventures Oxbotica Series B 46.3M Europe fleet management, and other features needed to run self-
IP Group Plc, Tencent,
driving vehicles. venture / science
BGF
ELECNOR, Heartcore
Ventures, Orbex is an innovative space startup developing small payload
10-Dec-20 Financial Orbex Space Series B 23.9M Europe Capital, High-Tech
Octopus reusable rockets.
Grunderfonds
Ventures
Amazon
SpeeDelete provides a smart city urban planning and traffic
01-Nov-20 Strategic Web SpeeDelete Pre Seed 0.01M Europe -
management system.
Services
20Autonomous Vehicle Industry: Fundraising Transactions (4/4)
Date of Strategic/ Investor Money Raised
Target Company Series/Name HQ Country Description Other Investors
Funding Financial Name ($)
Shell Drover is a mobility-as-a-service platform providing monthly, all-
15-Oct-21 Financial Drover Series B 2.9M Europe -
Ventures in car subscriptions to its end-customers.
BlackRock
Arrival is a developer and manufacturer of zero-emission, public
14-Oct-20 Financial Innovation Arrival Series B 118.0M Europe Winter Capital Advisors
transportation vehicles.
Capital
Venture Einride is an electric and autonomous freight tech company that EQT Ventures, Ericsson
01-Oct-20 Financial Norrsken VC Einride 10.0M Europe
Round designs and develops technologies for transportation systems.. Ventures, NordicNinja VC
Compound, Eclipse
Ventures, Exor Seeds, Fly
Balderton Wayve uses end-to-end deep learning to develop artificial Ventures, Gregory Winter,
01-Aug-20 Financial Wayve Series A 19.8M Europe
Capital intelligence capable of complex driving. Linda Levinson, Richard
Branson, Steve Girsky, Yann
LeCun
Autotech BP Ventures, Channel 4
Ventures, Ventures, Cherry Ventures,
Drover is a mobility-as-a-service platform providing monthly, all-
16-Jul-20 Financial RTP Global, Drover Series B 25.7M Europe Forward Partners, Partech,
in car subscriptions to its end-customers. Rider Global, Version One
Target
Global Ventures
Capnamic
GENIUS NY, Horizon 2020,
Ventures, BotsAndUs is a data-driven robotics and AI company that
06-Jul-20 Financial BotsAndUs Seed Round 6.0M Europe Innovate UK, Robotunion
Kindred provides full-stack robot systems for public spaces.
Capital
Ernström &
The analytics and annotation platform used to ensure the
29-Feb-20 Financial Co, Stena Annotell Series A 6.8M Europe -
performance of autonomous vehicle perception systems
Sessan
21Table of Contents
1. Autonomous Driving Industry Overview
2. Autonomous Driving: Transactions
3. Autonomous Driving: Recent Developments
22Autonomous Driving: Recent developments (1/3)
Company Recent Developments
Acquired Lyft’s self-driving unit, Level-5 for $550 million
Toyota took a completely different approach since Mid-2016 towards autonomous vehicle. The Company now spends nearly $10 billion a year on research autonomous vehicle technology. It plans
to launch a highly autonomous vehicle by 2021.
Source- greyb
Date- April, 2021
Source Link: https://www.greyb.com/autonomous-vehicle-companies/
Honda Motor launched its latest car, featuring the world’s first certified Level 3 autonomous driving
“A luxury sedan operating without a driver under certain conditions, has Traffic Jam Pilot System approved by Japan’s Ministry of Land, Infrastructure, Transport, and Tourism last November 2020.”
Priced at $102,000, Honda is releasing only 100 units with Level 3 autonomous driving technology for lease sales.
Source- Trendmicro
Date- March, 2021
Source Link- https://www.trendmicro.com/us/iot-security/news/6697
Nissan announced that it has completed a 230-mile driverless journey.
Nissan is one of the first movers in AV segment and started initiatives as early as 2013. In 2018, Nissan Motors and DeNA ran field tests of Easy Ride, the self driving taxi service they developed
together. In August 2019, the Company rolled out its ProPilot 2.0 driver-assistance technology feature in the new Nissan Skyline to enable hands-off driving for single-lane cruising. Renault started
public trial of its on-demand car service in October 2019.
Source- greyb
Date- Feb, 2020
Source Link- https://www.greyb.com/autonomous-vehicle-companies/
JLR unveiled an electric and autonomous shuttle pod designed for shared use in urban settings
JLR inked a deal with Alphabet’s Waymo for the purchase 20,000 Jaguar I-Paces for a fleet of self-driving taxis. The company is already testing the new vehicles on public roads around its Mountain
View, California, headquarters.
Source- The Verge
Date- Feb, 2020
Source Link- https://www.theverge.com/2020/2/18/21142427/jaguar-land-rover-electric-shuttle-mobility-concept
23Autonomous Driving: Recent developments (2/3)
Company Recent Developments
One of the strangest cars ever designed known as “BMW i Interaction EASE”
In March 2017, the Company has announced to launch Level-5 autonomous cars by 2021. In 2019, BMW become the first automobile manufacturer to enable full 5G wireless coverage at all its
plants. The strange looking car shaped like a rectangular block with absolutely no aerodynamics integrated into it.
Source- greyb
Date- January 2020
Source Link- greyb.com/autonomous-vehicle-companies/
The company exhibited the Cruise Origin, a Level 4-5 driverless vehicle.
Founded in 2013 and acquired by General Motors in 2016.
The company is developing software for General Motors Chevrolet Bolt. This software would make car autonomous. The company launched Origin in January 2020, a fully automated car without a
steering wheel or pedals intended to be used for ride hailing services.
Source- CNBC, Wikipedia
Date- January 2020
Source Link- https://www.cnbc.com/2020/01/23/debut-of-gms-cruise-origin-shows-the-future-of-ride-hailing-autonomous-vehicles-is-a-box.html
Waymo created driverless and open to public taxi service.
Waymo, subsidiary of Alphabet Inc., is considered a leader in the development of driverless cars, as its autonomous cars have driven 20 million miles on the road. Waymo’s technology of
autonomous cars comes under Level 4 automated driving systems of SAE International.
Source- Arstechnica
Date- September 2020
Source Link- https://arstechnica.com/cars/2020/10/waymo-finally-launches-an-actual-public-driverless-taxi-service/
Aptiv unveiled its new Smart Vehicle Architecture (SVA) at CES
SVA is a flexible and scalable vehicle-level architecture designed to reduce vehicle complexity during assembly while improving safety and support software for connected and autonomous vehicles.
Source- grayb
Date- January 2020
Source Link- https://www.greyb.com/autonomous-vehicle-companies/
24Autonomous Driving: Recent developments (3/3)
Company Recent Developments
Hyundai announced a successful autonomous truck platooning demonstration
Kia, an affiliate of Hyundai Motors aims to launch a fully autonomous vehicle by 2030. On November 2018, Tech giants Samsung Electronics, automaker Hyundai Motors, and telecommunication
company KT join hands to showcase autonomous driving technology running on the 5G network.
Source- grayb
Date- November 2019
Source Link- https://www.greyb.com/autonomous-vehicle-companies/
Continental AG announced that it developed “ROAD AND DRIVER” camera
As per the company, its camera will monitor both driver and traffic in front of the vehicle. The dual-camera system continuously detects whether the driver is paying attention to the road, while also
monitoring the surroundings. Continental says the camera provides a holistic model of the environment and is a prerequisite for the safe deployment of self-driving vehicles.
Source- greyb
Date- August 2019
Source Link- https://www.greyb.com/autonomous-vehicle-companies/
Launch of full Self-Driving Computer
In April 2017, Tesla’s CEO, Elon Musk, confirmed that Tesla is working on Level-5 vehicle and will be launched within the next two years.
In the year 2018, Tesla announced to produce their own AI chips for self-driving cars. The Company’s full self driving computer is claimed to be best chip in the world. As per data provided by the
company, its new computer can process 2,300 frames per second and perform 144 trillions operations per second.
Source- greyb
Date- July 2019
Source Link- https://www.greyb.com/autonomous-vehicle-companies/
BMW Group and Daimler AG- jointly developing autonomous driving technologies.
In an announcement, the auto giants said their initial focus would be on the development of “next-generation technologies” for automated driving on highways, driver assistance systems and
parking features. The companies view their partnership as being a “long-term, strategic co-operations”.
Source- CNBC
Date- July 2019
Source Link- https://www.cnbc.com/2019/02/28/bmw-and-daimler-team-up-to-develop-self-driving-technologies.html
25Contacts
Göttingen Corporate Finance
Timo Peter, Partner Jan Huber, Analyst
M: +49 172 888 9848 M: +49 157 718 66 993
E: tp@goettingen-cf.com E: jh@goettingen-cf.com
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37073 Göttingen, Germany
T: +49 551 28168380
F: +49 551 28168379
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