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Passenger Mobility Tech (Q1 2024): Tech upgrades pave way for safer, smarter vehicles; partnerships strengthen EV ecosystem

This Edge Insight focuses on notable activity from January 2024 through March 2024 (Q1 2024) relating to five SPEEDA Edge industries under the Transportation and Logistics vertical: EV Economy (excluding commercial EVs), Auto Tech, Shared Mobility, Smart Mobility Information, and Passenger eVTOL Aircraft.

Key takeaways

  • Funding
    • Mega rounds in the EV Economy industry drove funding growth: Passenger Mobility Tech raised USD 7.8 billion in Q1, up 178.2% YoY and 26.2% QoQ. This growth was largely led by EV battery developers and passenger EV manufacturers (such as NorthVolt and Lucid Motors) in EV Economy, with support from ride-hailing service providers in Shared Mobility (such as Lyft and inDrive). However, funding declined in the Auto Tech, Passenger eVTOL Aircraft, and Smart Mobility Information industries. Technological complexities and regulatory hurdles may delay autonomous vehicle deployment at scale—hence, the industry witnessed funding support withdrawals (e.g., General Motors’ [GM’s] Cruise, and Motional).
  • Product updates
    • Autonomous and automated driving tech updates and AI feature integrations fueled the Auto Tech industry: Autonomous vehicle tech companies (Amazon’s Zoox, Waymo, and and advanced driving assistance systems (ADAS) makers (BMW, Mobileye, Luminar, and Magna International) continued to enhance and update their respective technologies. However, product discontinuations, closures, and layoffs in the industry reflect the challenges in the sector.
    • EV updates centered on new EV models, infrastructure developments, and improving battery supply: EV Economy saw a surge in innovation and growth, with new EV models launched by Rivian, and Additionally, efforts to fortify the EV ecosystem were evident, as companies focused on improving charging infrastructure. EV battery manufacturers also dedicated efforts to augment battery supply and advance technology this quarter.
    • Smart Mobility Information saw geographic expansion, while Passenger eVTOL commercialization began: Smart Mobility Information players experienced significant geographic expansions. Significant milestones were achieved in Passenger eVTOL Aircraft, with launching the world's first commercial customer eVTOL flights, while others continued to progress with the launch of online aircraft sales and unveiling prototypes.
  • Partnerships
    • NVIDIA supplied ADAS compute platforms to Auto Tech players, while others focused on AI integrations: NVIDIA was seen forging back-to-back deals with EV manufacturers and technology developers for the advancement of safety and driving assistance technologies. AI integrations remained a key trend, with industry players looking to update their ADAS and connected vehicle features with AI integrations.
    • EV Economy and Passenger eVTOL Aircraft industries saw expansion and enhancement of charging infrastructure: Notable collaborations in EV Economy included major automakers, energy companies, and highway systems teaming up with third parties to expand EV charging networks or access to existing networks. Passenger eVTOL Aircraft disruptors also concentrated on infrastructure building while some also looked to expand their geographical coverage.
    • Smart Mobility Information advanced multimodal mobility management: Players working on multimodal mobility management technologies looked to integrate advanced technologies to improve user experience and expand geographical coverage.
  • M&As
    • Q1 saw limited activity in industry consolidations: Only two notable M&A deals took place and were related to the Auto Tech and Smart Mobility Information industries: 1) Karma Automotive acquired Airbiquity to enhance its EVs with advanced connected software capabilities and 2) ParkHub merged with JustPark, aiming to bolster parking solutions and geographical reach across North America and the UK.
  • Regulations
    • As the landscape for Passenger Mobility Tech evolves rapidly, it is shaped by regulatory frameworks, government funding, and geopolitical considerations: Companies worldwide are advancing by securing approvals for robotaxi deployments, with notable progress in the US and China. However, local concerns in the US over the safety of autonomous vehicle deployments have led to legal and legislative pushbacks against state-level authorizations. Concurrently, significant investments in EV and smart mobility technologies from authorities aim to bolster the adoption of EVs and improve infrastructure for safer, smarter mobility. Amid this push toward innovative transportation solutions, US national security concerns over Chinese auto tech companies introduce additional regulatory complexities.
  • Outlook
    • Active engagements from leading OEMs in the Auto Tech space signal a rising trend in AI integration within ADAS and connected car technologies. We noticed companies are increasingly collaborating with AI specialists, paving the way for a generation of vehicles that are smarter and more secure—a trend observed in past quarters as well. While companies strive for long-term commercial success, resource reallocation has led to layoffs, which may persist, as businesses adjust capacities, potentially leading to further layoffs.
    • The ongoing expansion of the EV ecosystem, particularly in charging infrastructure, and introducing new models from manufacturers are expected to bolster EV adoption. Improved infrastructure, a wider range of models, advancements in battery technology, and customer incentives are key trends contributing to this positive outlook, consistent with observations from previous quarters.
    • Smart Mobility Information’s global expansion indicates widespread demand for advanced mobility solutions. As smart mobility becomes more user-centric by incorporating personalized features and improved accessibility, the sector is poised for a dynamic and technology-driven future.
    • Passenger eVTOL Aircraft should continue marching toward commercialization as evidenced by LIFT Aircraft’s customer launch, Pivotal’s online sales opening, and several other partnerships with infrastructure providers, indicating positive signs for commercialization in the future.

Funding: Two deals in EV Economy account for three-quarters of funds raised; autonomous vehicle players lose funds

Analyst Take: In Q1 2024, funding rose 26.2% YoY to USD 7.8 billion—largely led by EV Economy—with Northvolt and Lucid Motors securing 77.1% of the total funds raised (88.7% of funds raised by EV Economy startups). The only other industry to witness an uptick in funding was Shared Mobility, while Auto Tech, Passenger eVTOL Aircraft, and Smart Mobility Information attracted less investment this quarter. This trend is also evidenced by the withdrawal of funding from autonomous passenger vehicle manufacturers Motional and Cruise, with their main investors (Aptiv and GM, respectively) pulling their financial support. Overall funds raised comprised mostly post-IPO and debt financing (90% of funds raised in Q1 2024).

Passenger mobility tech sector Q1 2024 funding summary

  • In Q1 2024, funding in the Passenger Mobility Tech space rose 178.2% YoY to USD 7.8 billion, despite the number of rounds falling 12.5% YoY to 28 (USD 2.8 billion across 32 rounds in Q1 2023). The surge in funds raised was predominantly due to the heightened funding activities of startups in the EV Economy industry (up 3.6x YoY to USD 6.8 billion) and was supported by higher funding in the Shared Mobility industry (up 117.4% YoY to USD 0.72 billion).
  • Funding growth was largely due to substantial debt funding rounds in the EV Economy and Shared Mobility industries. Norvolt raised a substantial USD 5 billion in debt (73.9% of funds raised in EV Economy in Q1) for debt refinancing and facility expansions. Lyft also raised USD 400 million in post-IPO debt financing (55.5% of funds raised in Shared Mobility) to buy back senior notes and common stock from institutional investors.
  • The Auto Tech, Passenger eVTOL Aircraft, and Smart Mobility Information industries attracted less investment in Q1, witnessing drops of 34.5% YoY, 66.0% YoY, and 69.7% YoY, respectively.
  • The overall average deal size for Q1 2024 tripled YoY, with the most notable increases coming from EV Economy and Shared Mobility, which rose about 2.8x and 1.8x YoY, respectively.
  • Conventional seed, early (Series A and B), and growth-stage funding were less popular and collectively accounted for only 10% of total funds raised in Q1 2024 (down from just over 25% in Q1 2023). An increase in other funding rounds drove the average funding round growth—mostly post-IPO equity and debt financing—accounting for 90% of total funds raised in Q1 2024, as well as the average other funding rounds growing a substantial 3.2x YoY to USD 335 million in Q1.
  • Notable funding rounds: Besides Northvolt’s funding, Lucid Motors’ USD 1 billion post-IPO equity funding for corporate purposes was the next largest funding round in Passenger Mobility Tech during Q1 2024. Notably, the top 10 funding rounds for Q1 2024 had a combined value of ~USD 7.4 billion (96% of the funds raised during the quarter). Most of the top 10 rounds were in the EV Economy and Shared Mobility industries.

Product updates: Autonomous vehicle and safety tech development at the forefront; growing momentum in EV and charging infrastructure development

Analyst Take: Product updates in Q1 2024 were driven by the Auto Tech and EV Economy industries, with a combined share of 86% of updates. In Auto Tech, players continued to update and upgrade autonomous vehicles and related technologies (Amazon’s Zoox, Alphabet’s Waymo, and Pony.ai) like the previous quarter. Waymo further broadened its market presence and continued its expansion, similar to its efforts in Q4 2023.
In the EV Economy industry, EV makers introduced new models (Rivian, BMW, Toyota, Honda, VinFast, and Tesla), while several players also looked to strengthen the EV ecosystem by enhancing the charging infrastructure (Blink Charging, LG Electronics, Nxu, and Wallbox). EV battery makers worked on enhancing the supply of batteries with new R&D and manufacturing facilities and further tech upgrades (NanoGraf, Addionics, Northvolt, and 24M Technologies).
However, product discontinuations, closures, and layoffs underscore the persistent challenges facing autonomous vehicle development. These difficulties were observed at companies such as GM, Apple, Motional, May Mobility, and Aurora Innovation.
Players in the Smart Mobility Information industry experienced significant geographic expansions (SkedGo, Optibus, and Hayden AI), while startups in Passenger eVTOL Aircraft launched products/services (LIFT Aircraft and Pivotal) and concepts (Hyundai's eVTOL division, Supernal).
  • We observed 66 product updates during Q1 2024 in the Passenger Mobility Tech sector. These were mostly centered on Auto Tech (31) and EV Economy (26).
  • Passenger EV launches and infrastructure and battery developments drove EV Economy product updates
    • New EV concepts and launches were announced by many automakers during the quarter, including Rivian, BMW, Toyota, Honda, VinFast, and Tesla. EV makers and incumbents also actively expanded their EV production capabilities by investing in establishing and enhancing manufacturing facilities. The list includes notable companies such as Toyota, Canoo Technologies, and VinFast.
    • Efforts to strengthen the EV ecosystem continued, focusing on enhancing EV charging infrastructure. Blink Charging and LG Electronics advanced plans to construct additional EV charger production facilities in the US. Similarly, Nxu and Wallbox initiated commercial production of their charging units, NxuOne and Supernova 180, respectively. Furthermore, Rivian announced plans to open its charger network to non-Rivian customers in the second half of 2024 to expand accessibility, following Tesla's footsteps.
    • Meanwhile, several disruptors expanded their EV battery development solutions, including 1) NanoGraf inaugurating a new R&D facility in Chicago; 2) Addionics investing in a battery manufacturing plant in the US; 3) Northvolt starting construction of its battery gigafactory in Germany; and 4) 24M Technologies’ upgrading to Li-ion battery technologies for improved cycle life, rate capabilities, and battery safety.
    • Companies were also seen offering incentives to boost EV adoption, with GM and Ford spearheading initiatives to increase EV sales by offering purchase incentives and adjusting prices.
  • Smart Mobility Information product updates were directed at geographic expansions
    • Several startups chose to expand their geographical coverage in Q1 2024, including 1) transport planning app provider SkedGo (to include France) and 2) multimodal mobility management company Optibus (Manaus, Brazil).
  • Passenger eVTOL Aircraft saw new product concepts and commercial launches
    • LIFT Aircraft initiated commercial customer eVTOL flights at Lakeland Linder Airport (till the end of April), with plans to expand operations to Austin, Texas, marking the world's first commercial launch. Pivotal started online sales of its lightweight electric personal aircraft, with US deliveries anticipated to begin in June 2024.
    • New eVTOL aircraft concept unveilings included Hyundai's eVTOL division, Supernal, introducing a prototype concept, setting the stage for commercial air taxi services expected to commence in 2028.

Partnerships: Incumbents partner to enhance automated driving features and EV infrastructure; infrastructure development for eVTOL operations underway

Analyst Take: NVIDIA, Bosch, Tesla, and Mercedes-Benz were the most active players in the Passenger Mobility Tech sector, with NVIDIA inking seven deals, while the latter three entered five partnerships each over the quarter. Most of the partnerships were in the Auto Tech industry. These were led by the safety and driving assist tools segment, with NVIDIA signing customer partnerships to supply compute platforms for ADAS development. AI integrations remained a key trend in Q1 2024 as well, as companies increasingly sought to update their ADAS and connected vehicle features with AI integrations. Most of the partnerships in EV Economy were related to EV charging infrastructure development and improving EV charging networks to deliver better access to customers. Not many incumbent partnerships were seen in Passenger eVTOL Aircraft or Smart Mobility Information industries; however, disruptor collaborations to enhance multimodal mobility management and build up infrastructure for eVTOL aircraft operations were more plentiful.
We observed 86 partnerships, of which 49 were driven by incumbents. In Q1 2024, automotive industry players and tech and electronic companies partnered to enhance the passenger mobility tech experience for users. Almost all incumbent partnerships were in the Auto Tech (27) and EV Economy (20) industries, with product collaborations (34) dominating the Passenger Mobility Tech sector.
  • Two-thirds of incumbent partnerships in the Auto Tech industry focused on driving assistance tools and connected car experiences
    • We observed 34 partnerships in the Auto Tech industry, 27 of which were driven by incumbent partnerships. The majority of established partnerships focused on the development of safety and driving assist tools. These were largely led by tech provider NVIDIA to provide compute platforms for diverse customers, including EV manufacturers and technology developers, such as Foretellix, Li Auto, Mercedes-Benz, Cipia, Luminar, and Lenovo, to advance safety and driving assistance technologies.
    • Notable partnerships also emerged for integrating AI features (including GenAI) into safety and driving assist tools. Such deals included 1) Bosch partnering with Microsoft (to explore the use of GenAI in evaluating road situations for appropriate responses), 2) Tesla joining forces with OpenAI (to integrate AI-based video generation into Tesla's automated driving systems), and 3) Cognata partnering with Microsoft (to integrate high-precision AI simulation for automated driving feature development).
    • Collaborations in AI integration were also seen with connected platforms and related infotainment, underscored by notable partnerships that focused on AI-based voice assistant technologies. These included the 1) Honda-Sony joint venture (JV) partnering with Microsoft, 2) Volkswagen collaborating with Cerence, 3) Cerence partnering with Microsoft, 4) Stellantis with OpenAI, and 5) BMW joining forces with Amazon for such purposes. Cerence also announced OEM customers (names not disclosed) for its AI-powered voice assistance tech.
    • Autonomous passenger vehicle developers predominantly engaged in partnerships to expand their geographical presence. These largely included collaborating with governments, city authorities, mobility service providers, and technology companies. Key initiatives included 1) Beep and Oxa launching autonomous shuttles at Florida State College in Jacksonville; 2) Toyota deploying robotaxis in Odaiba, Tokyo; and 3) Pony.ai extending operations to South Korea and Luxembourg.
  • Almost half of incumbent EV Economy partnerships were in EV charging infrastructure 
    • We observed 31 partnerships in the EV Economy industry, 20 of which were driven by incumbent partnerships. With EV adoption, there was a greater emphasis on infrastructure, particularly the expansion of EV charging networks, with several notable incumbent partnerships, including
    • In addition, several other partnerships focused on increasing user access to EV charging, such as 1) BMW’s partnership with Shell Global to give its driver access to over 100,000 EV charging sites from multiple providers in the US and Canada via the “My BMW” app and 2) Lotus’ collaboration with Bosch to give its customers access to 600,000+ charging stations across Europe. 
    • Disruptors offering EV charging solutions such as Blink Charging and EVgo and EV maker NIO were also seen collaborating with third parties to strengthen their respective EV charging networks in various geographies.
    • Prominent incumbent collaborations in the development of Li-ion EV batteries focused largely on supply agreements for battery materials. Notable agreements include 1) Nouveau Monde Graphite (NMG; a multi-year partnership to supply 18,000 tonnes of active anode material per annum to Panasonic); 2) LG Chem (a USD 18.6 billion deal with GM to supply cathode materials for 10 years); 3) Albemarle (a multi-year partnership to deliver battery-grade lithium to BMW); and 4) Shengxin Lithium Energy (a four-year contract to supply battery-grade lithium to Hyundai).
  • Partnerships in the Passenger eVTOL Aircraft industry centered on building operational infrastructure 
    • eVTOL aircraft makers partnered with third-party aviation services, airport operators, and charging infrastructure providers to develop vertiports and charging infrastructure to facilitate eventual operations. Notable deals included
      • 1) Lilium’s partnerships with Atlantic Aviation to electrify Atlantic's existing airport infrastructure network in the US, Star Charge to purchase 120 chargers, and Fraport to develop vertiport infrastructure at multiple airports in Germany and Europe.
      • 2) BETA Technologies partnering with Golden Triangle Regional Airport (GTRA) and Avflight to install an electric aviation charging station in Mississippi.
      • 3) Overair’s partnership with Clay Lacy Aviation to set up vertiports operations and charging facilities in Southern California.
      • 4) Joby Aviation, which also partnered with Clay Lacy Aviation to set up an electric air taxi charger at the John Wayne Airport (SNA), California.
    • eVTOL aircraft makers also expanded their geographical coverage internationally by partnering with parties such as vertiport operators, aviation companies, and government bodies. The list includes Eve Air Mobility (Japan and Southeast Asia), Lilium (Southeast Asia), eHang (Japan), and Joby Aviation (the UAE).
  • Collaborations in Smart Mobility Information revolved around the multimodal mobility management segment
    • Notable partnerships in the multimodal mobility management area included
Mobility1Q2024_Incumbent partnerships_Auto Tech
Mobility1Q2024_Incumbent partnerships_EV Economy

M&As: Smart Mobility Information and Auto Tech continue to drive industry consolidation; limited activity compared with the previous quarter

Analyst Take: In Q1 2024, we saw limited activity in industry consolidations, with only two notable M&A deals taking place within the Passenger Mobility Tech sector (compared with nine M&A deals in Q1 2023 and 10 in Q3 2023). The Auto Tech and Smart Mobility Information industries continued to drive M&A activities, highlighting focused strategies to expand product offerings and integrate cutting-edge technologies in a competitive landscape. Even though the previous quarter also saw notable M&A deals in the EV Economy industry (4), no M&A deals were reported in Q1 2024.
  • In February 2024, Karma Automotive, a Southern California-based ultra-luxury EV manufacturer, acquired the technology assets and intellectual property (IP) of Airbiquity, a Seattle-based connected vehicle software company, to integrate Airbiquity's software into its Karma Cloud Services and embedded vehicle technology.
  • In March 2024, ParkHub, a North American parking inventory management solution provider, merged with JustPark, a UK-based parking discovery and payment website and mobile app, to complement its product offering and expand geographic coverage across North America and the UK.

Regulations: Robotaxi progressing with commercial deployments amid regulatory hurdles; government investments in EV and mobility technologies promote adoption

Analyst Take: The push for robotaxi deployments globally continued with companies like Waymo and Pony.ai securing approvals, leading the way in the US and China. However, regulatory hurdles—particularly at the city level in California—underscore the complexity of integrating autonomous vehicles into existing urban landscapes, mirrored by legal action and demand for local oversight, which reflect concerns over safety and control. US national security apprehensions are also creating regulatory challenges for Chinese auto tech firms, which may result in downsizing or ceasing their operations in the US.
Meanwhile, significant investments in EV and smart mobility infrastructure by federal and state authorities in the US indicate a broader commitment to transforming passenger mobility, balancing innovation with public safety and environmental sustainability.
  • Companies secured approvals for robotaxi deployments despite tightening regulations 
    • Companies are obtaining the green light to launch driverless commercial robotaxi services across the globe. Waymo is set to roll out its robotaxi service in Los Angeles, the San Francisco Peninsula, and San Francisco freeways (California) after approval in March 2024. Meanwhile, Pony.ai secured approvals to deploy its robotaxi service in China, specifically in the cities of Shenzhen and the Nansha district of Guangzhou.
    • In California, city regulators are restricting the deployment of robotaxis due to safety concerns and past incidents, challenging state-level authorizations. San Francisco has escalated its concerns into legal action, suing the California Public Utilities Commission (CPUC) for allowing Waymo and Cruise to broaden their operations within the city, while San Mateo County is advocating for increased local control over robotaxi deployments. These moves reflect growing tensions between local safety priorities and the push for autonomous vehicle expansion.
Mobility1Q2024_Autonomous/automated driving testing and deployment permit holders in California as of March 2024
Notes: 1) The list contains companies offering fully autonomous/automated passenger mobility solutions covered within the Auto Tech industry; 2) Apple discontinued vehicle development efforts in February 2024; 3) Refer Appendix 3 for more information
  • US Federal and State authorities fund various passenger mobility tech-related projects
    • EV-related projects to promote the adoption of EVs in the country included 1) the US Energy Department approving nearly USD 710 million in loans for EV technology manufacturing ventures; 2) the California Energy Commission (CEC) approving a USD 1.9 billion funding plan that aims to further develop the state's EV charging and hydrogen refueling infrastructure; and 3) the US Government announcing USD 623 million in grants to introduce US-made EV chargers, with plans to have 500,000 EV chargers by 2030.
    • To improve smart mobility, California regulators announced a USD 236.9 million investment to improve neighborhood connectivity, roadway infrastructure, and street safety.
    • The US national security concerns pose regulatory hurdles for Chinese auto tech companies. These growing concerns of the US could compel Chinese autonomous vehicle companies (e.g., Baidu’s Apollo, Pony.ai, WeRide, Didi, and AutoX) to scale back or entirely halt their testing activities in California. Meanwhile, the Biden administration is also investigating Chinese-made "smart cars" due to fears that these vehicles could collect sensitive data on American drivers, potentially leading to espionage or cyberattacks.

Value chain: R&D led by Auto Tech players looking to bring autonomous/automated vehicles and AI features; outbound logistics driven by partnerships to build EV infrastructure

Analyst Take: R&D efforts were central in product development and partnerships, primarily led by Auto Tech companies. Product development initiatives focused on autonomous vehicle technologies, with Amazon’s Zoox, Alphabet’s Waymo, and Pony.ai enhancing safety and innovation. Partnerships mainly involved integrating automated driving and AI into the automotive industry and were led by players such as NVIDIA, Mercedes-Benz, Cerence, and Microsoft. Outbound logistics also saw many activities driven by partnerships in the EV Economy industry. Most of these were led by companies like Tesla, GM, EVgo, and Blink Charging, which partnered with third parties to strengthen EV charging infrastructure.
Mobility1Q2024_Value Chain Diagram
Notes: 1) Comprises data from all five hubs in scope (only funding activity considered in Shared Mobility); 2) darker colors indicate greater intensity; 3) includes incumbent and disruptor activities; 4) value chain definitions are provided in Appendix 4

Appendix

01. Notable incumbent partnerships across Passenger Mobility Tech

Featured companies

General Motors
General Motors Company engages in the manufacture and sale of cars and trucks in the United States, China, Brazil, Germany, the United Kingdom, Canada, and Italy. It offers sedans, crossovers, sport utility...
HQ:
Detroit, MI
Funding:
USD 6.0 billion
Alphabet
Alphabet is a holding company that provides projects with resources, freedom, and focus to make their ideas happen. Alphabet is the holding company for Google and several Google entities, including Google...
HQ:
Mountain View, CA
Amazon
Amazon operates a vast online marketplace where customers can purchase a wide variety of products, including electronics, books, apparel, household goods, and more. The company has a robust logistics and...
HQ:
Seattle, WA
Funding:
USD 8.1 billion
Mercedes-Benz Group AG
The Mercedes-Benz Group AG (former Daimler AG) is one of the world's most successful automotive companies. With Mercedes-Benz AG, we are one of the leading global suppliers of high-end passenger cars and...
HQ:
Stuttgart
Funding:
USD 1.4 billion
Bayerische Motoren Werke
Bayerische Motoren Werke manufactures and sells luxury cars and motorcycles worldwide. It produces everything from convertible sports cars to luxury sedans to touring motorcycles with large displacement...
HQ:
Munich
Toyota Motor
Toyota is a company that is operating its business with a focus on vehicle production and sales. Toyota completed its A1 prototype passenger car and the G1 truck in 1935. The first export of a Toyota car...
HQ:
Tokyo
Funding:
USD 243.6 million
Honda Motor
Honda Motor Co Ltd is a Japanese public multinational corporation primarily known as a manufacturer of automobiles and motorcycles. It distributes motorcycles, scooters, all-terrain vehicles, side-by-sides,...
HQ:
Tokyo
Tesla
Tesla Motors specializes in developing a full range of electric vehicles. Tesla Motors was started by a group of Silicon Valley entrepreneurs and strives to create a revolution and accelerate the world’s...
HQ:
Austin, TX
Funding:
USD 19.4 billion
Hyundai
Hyundai is a travel agency that provides business, government, and institutional trips. The company provides complete service for business travels, including domestic and international airline ticket reservations...
HQ:
Seocho
Volkswagen Group
Volkswagen Group is an automotive company, it designs, manufactures, and distributes passenger and commercial vehicles, motorcycles, engines, and turbomachinery and offers related services including financing,...
HQ:
Wolfsburg
Stellantis
Stellantis offers mobility solutions. Their electrification and software strategies and the creation of an ecosystem of strategic, game-changing partnerships are driving their transformation into a sustainable...
HQ:
Hoofddorp
Ford Motor
Ford Motor Company manufactures or distributes automobiles in addition to offering financial services. The company sells to dealerships for retail sales, and for sale to fleet customers, including commercial...
HQ:
Dearborn, MI
Funding:
USD 13.2 billion
Mobileye
Mobileye leads the mobility revolution with its autonomous-driving and driver-assist technologies, harnessing world-renowned expertise in computer vision, machine learning, mapping, and data analysis....
HQ:
Jerusalem
Funding:
USD 2.1 billion
Bosch
The Bosch Group is a supplier of technology and services that offers innovative solutions for smart homes, smart cities, connected mobility, and connected industry. It uses its expertise in sensor technology,...
HQ:
Stuttgart
Apple
Apple is a corporation that designs, manufactures, and markets mobile communication and media devices, personal computers, portable digital music players, and sells a variety of related software, services,...
HQ:
Cupertino, CA
Funding:
USD 1.2 billion
LG Electronics
LG is a South Korean multinational company which includes LG Electronics. LG Englewood Cliffs is a new building initiative that protects the palisades and creates homes for the growing U.S. workforce....
HQ:
Seoul
Funding:
USD 800.0 million
NVIDIA
NVIDIA is a computing platform company, innovating at the intersection of graphics, HPC, and AI. The company specializes in the manufacture of graphics-processor technologies for workstations, desktop...
HQ:
Santa Clara, CA
Funding:
USD 4.1 billion
Magna International
Magna is a leading global automotive supplier with 317 manufacturing operations and 83 product development, engineering and sales centres in 29 countries. Magna has over 130,000 employees focused on delivering...
HQ:
Aurora, ON
Funding:
USD 411.3 million
Microsoft
Microsoft is an American multinational corporation that develops, manufactures, licenses, supports, and sells a range of software products and services. Microsoft’s devices and consumer (D&C) licensing...
HQ:
Redmond, WA
Funding:
USD 1.0 million
Lenovo
Lenovo is one of the world's leading personal technology companies, producing innovative PCs and mobile internet devices. A global Fortune 500 company, Lenovo is the world's largest PC vendor and fourth...
HQ:
Beijing
Funding:
USD 1.4 billion
TotalEnergies
TotalEnergies is an energy company that produces and markets oil and biofuels, natural gas and green gases, renewables, and electricity....
HQ:
La Défense
LG Chem
Known as the largest chemical company in South Korea, LG Chem extends its chemical expertise into Petrochemicals, IT & Electronic Materials and Energy Solution. It aims to be a world-class chemical company,...
HQ:
Seoul
Engie
ENGIE is a global energy player and an expert operator in the three key sectors of electricity, natural gas and energy services. The Group supports changes in society that are based as much on economic...
HQ:
Paris
Funding:
USD 114.0 thousand
Northvolt
Northvolt develops sustainable lithium-ion batteries in conjunction with R&D, industrialization, and recycling to support clean energy. It provides electrification and renewable energy storage designed...
HQ:
Stockholm
Funding:
USD 13.8 billion
Lucid Motors
Lucid Motors is an automotive company that specializes in electric cars. The company sets out to create a car that elevates the human experience and transcends the perceived limitations of space, performance,...
HQ:
Newark, CA
Funding:
USD 10.4 billion
Rimac Group
Rimac is a technology powerhouse that manufactures electric hypercars and provides full technology solutions to global automotive manufacturers. Founded in 2009 with headquarters in Croatia, Rimac started...
HQ:
Sveta Nedelja
Funding:
USD 875.8 million
Rivian
Rivian is an automotive technology company that develops products and services to advance the shift to sustainable mobility. The company creates solutions that redefine traditional automotive economics...
HQ:
Plymouth, MI
Funding:
USD 14.3 billion
Vinfast
Vinfast is the automotive brand of Vietnamese conglomerate, VinGroup. VinFast envisioned to drive the movement of the global smart electric vehicle revolution. Established in 2017, VinFast owns a state-of-the-art...
HQ:
Hai Phong
Funding:
USD 1.6 billion
Blink Charging Co
Blink Charging Co is a owner, operator, and provider of electric vehicle (EV) charging equipment and services....
HQ:
Miami Beach, FL
Funding:
USD 108.3 million
Nxu
Nxu is a renewable energy equipment manufacturing company that spearheading the development of energy solutions aimed at accelerating the transition to an electric future. Nxu specialises in manufacturing...
HQ:
Mesa, AZ
Funding:
USD 3.0 million
Wallbox
Wallbox is a company, dedicated to changing the way the world uses energy in the electric vehicle industry. They creates smart charging systems that combine innovative technology with outstanding design...
HQ:
Barcelona
Funding:
USD 247.7 million
24M Technologies
24M Technologies develops energy storage systems for grid and transportation applications. 24M Technologies, Inc. builds energy storage systems for grid and transportation applications. The company was...
HQ:
Cambridge, MA
Funding:
USD 97.8 million
NanoGraf Corporation
NanoGraf Corporation has developed a novel high energy density Si-based anode material that has the potential to replace graphitic-based anodes in lithium-ion batteries for a variety of applications ranging...
HQ:
Chicago, IL
Funding:
USD 89.5 million
Addionics
Addionics is creating next-generation batteries through intelligent 3D battery architecture and engineering. It provides specialized improved rechargeable batteries by redesigning their architecture. The...
HQ:
London
Funding:
USD 34.0 million
Li Auto
Lixiang, formerly known as Chehejia (“Car and Home”), is a Beijing-based electric vehicle startup that plans to disrupt the transportation and auto industries through complete vertical integration. It...
HQ:
Beijing
Funding:
USD 1.8 billion
Lotus Cars
Lotus is the industry benchmark for ride and handling in performance cars. Sports cars that are telepathic to a driver’s touch. To paraphrase Julia Roberts in Pretty Woman, they corner like they’re on...
HQ:
Norwich
Funding:
USD 16.3 million
Canoo
Canoo develops electric vehicles that are reinventing the automotive landscape with bold innovations in design, pioneering technologies, and a unique business model that defies traditional ownership to...
HQ:
Torrance, CA
Funding:
USD 595.0 million
FreeWire Technologies
FreeWire Technologies is the leading manufacturer of battery-integrated EV charging stations and power solutions in the U.S. The Company’s fully-integrated Boost Charger plugs into existing and ubiquitous...
HQ:
Newark, CA
Funding:
USD 259.4 million
EVgo
EVgo provides fast charging networks for private and public electric vehicles. EVgo’s fast chargers deliver convenient, fast charges to EV drivers on the go, delivering up to 90 miles of range in 30 minutes....
HQ:
Los Angeles, CA
Funding:
USD 527.6 million
NIO
NIO Inc. is a pioneer in China’s premium smart electric vehicle market. NIO’s mission is to shape a joyful lifestyle by offering premium smart electric vehicles and being the best user enterprise. NIO...
HQ:
Shanghai
Funding:
USD 9.6 billion
May Mobility
May Mobility specializes in autonomous vehicle technology development and deployment. The company's technology studies the city's traffic and commuter flow, identifying bottlenecks and gaps in the current...
HQ:
Ann Arbor, MI
Funding:
USD 302.6 million
Motional
Motional is a developer of driverless technology. It also offers an autonomous driving platform for robotaxi providers, fleet operators, and automotive manufacturers....
HQ:
Boston, MA
Funding:
USD 475.0 million
Aptiv
Aptiv is a global technology company that develops safer, greener, and more connected solutions, which enable the future of mobility. The company believes that the power of new mobility can change the...
HQ:
Dublin
Funding:
USD 8.0 million
Pony.ai
Pony.ai is a startup that builds full-stack autonomous driving solutions. It is a pioneer in autonomous mobility technologies and services across the US and China, spearheading public-facing Robotaxi pilots...
HQ:
Fremont, CA
Funding:
USD 1.3 billion
Project 3 Mobility
We are a diverse team shaping the future of mobility. With experts from more than 20 different industries and nationalities, we are building an innovative urban ecosystem system by focusing on a safe,...
HQ:
Zagreb
Funding:
USD 302.8 million
Aurora
Aurora is a self-driving vehicle company providing a platform that brings software and data services to operate passenger vehicles. To move both people and goods, the company develops Aurora Driver, a...
HQ:
Pittsburgh, PA
Funding:
USD 3.7 billion
Foretellix
Foretellix is enabling the digital transformation of safety-critical automotive verification. Foretellix’s solutions scale to meet the challenge of verifying the safety of today’s increasingly complex...
HQ:
Tel Aviv
Funding:
USD 132.5 million
Cipia
Cipia is a leading provider of intelligent sensing solutions that use edge-based computer vision and AI for safer and better mobility experiences. The company focuses on the automotive in-cabin environment,...
HQ:
Herzliya
Funding:
USD 55.0 million
Luminar
Luminar is a global automotive technology company ushering in a new era of vehicle safety and autonomy. For the past decade, Luminar has built an advanced hardware and software platform to enable its more...
HQ:
Orlando, FL
Funding:
USD 779.8 million
Cerence
Cerence is a software company that is involved in developing mobility-based solutions for drivers and their cars. The customers include automobile original equipment manufacturers, or OEMs....
HQ:
Burlington, MA
Funding:
USD 190.0 million
Cognata
The fast lane to Autonomous Driving. Autonomous vehicles are about to create trillions of dollars over the next decade. While validating an autonomous vehicle to current human fatality level requires driving...
HQ:
Rehovot
Funding:
USD 23.5 million
Karma Automotive
Karma Automotive designs, engineers, assembles and markets luxury electric vehicles, all from its Southern California base of operations. Founded in 2014 and employing nearly 1,000 people worldwide, Karma...
HQ:
Irvine, CA
Funding:
USD 100.8 million
Airbiquity
Airbiquity is at the forefront of change in the automotive industry, integrating advances in software, communications technology and wireless services with vehicles. Its connected vehicle solutions offer...
HQ:
Seattle, WA
Funding:
USD 95.4 million
Upstream Security
Upstream Security provides a cloud-based data management platform purpose-built for connected vehicles, delivering unparalleled automotive cybersecurity detection and response (V-XDR) and data-driven applications....
HQ:
Herzliya
Funding:
USD 105.0 million
Beep
Beep is an autonomous mobility solution company that delivers transportation utilizing driverless, electric, multi-passenger vehicles. It specializes in planning, deploying, and managing advanced autonomous...
HQ:
Orlando, FL
Funding:
USD 45.0 million
Oxa
Oxbotica develops autonomous vehicle software. They provide autonomy software that has low compute power requirements. They use laser vision and radar for localization, redundancy, and cloud management...
HQ:
Oxford
Funding:
USD 229.3 million
SkedGo
SkedGo offers start-ups, blue-chip companies and governments access to the most advanced, personalised trip planning and mobility as a service platform. With the TripGo API, the integration of multi/mixed...
HQ:
Sydney
Funding:
USD 3.9 million
Optibus
Optibus leverages the power of machine learning and optimization algorithms to redefine the way mass-transportation is planned and operated. Optibus’ disruptive technology drive some of the most complex...
HQ:
Tel Aviv
Funding:
USD 260.0 million
Hayden AI
At Hayden AI, we’re pioneering real world problem solving powered by AI and machine learning. From bus lane and bus stop enforcement to digital twin modeling and more, our clients use our mobile perception...
HQ:
San Francisco, CA
Funding:
USD 103.3 million
Drover AI
Drover AI is an artificial intelligence-enabled sensor fusion IoT module for granular infrastructure distinction on LEVs. It leverages AI onboard light electric vehicles to deliver a safer experience for...
HQ:
Los Angeles, CA
Funding:
USD 5.4 million
ParkHub
ParkHub is a Dallas-based technology company that provides software and hardware services for the destination industry. The company's products provide multiple payment options, real-time reporting of parking...
HQ:
Dallas, TX
Funding:
USD 119.7 million
JustPark
JustPark is The Parking App reinventing parking for the digital era. Parking has been difficult for too long, and they’re on a mission to make it easy. Today, they help over 2 million drivers enjoy easy...
HQ:
London
Funding:
USD 24.9 million
Storm Reply
Storm Reply is an AWS premier consulting partner in EMEA and the specialist for professional cloud computing services in the reply network. They cloud computing, digital transformation, AWS, IoT, big data,...
HQ:
Turin
Star Charge
Star Charge focuses on developing and manufacturing the new energy vehicle charging equipment....
HQ:
Singapore
Funding:
USD 125.2 million
Eve Air Mobility
Eve Air Mobility develops air mobility solutions to advance the urban air mobility ecosystem. Eve's system includes an advanced electric vertical takeoff and landing vehicle project, comprehensive global...
HQ:
Fort Lauderdale, FL
Funding:
USD 372.0 million
Overair
Overair designs, develops, and manufactures electric vertical takeoff and landing (eVTOL) aircraft. It is used for air taxi and aerial mobility operations. The company was founded in 2019 and is based...
HQ:
Santa Ana, CA
Funding:
USD 170.0 million
LIFT Aircraft
Personal flight is one of humanity's most enduring aspirations, but has historically only been available to a privileged few with the money, time and skill to fly traditional aircraft. We're making the...
HQ:
Austin, TX
Funding:
USD 9.2 million
Pivotal
Pivotal is a comapny that develops aviation and aerospace components....
HQ:
Palo Alto, CA
Lilium
Lilium is an aviation company developing an emissions-free regional air mobility service. It has designed and prototyped the Lilium Jet, a brand-new type of aircraft that will enable it to deliver regional...
HQ:
Weßling
Funding:
USD 1.4 billion
Beta Technologies
Beta Technologies designs and develops electric aircraft including advanced flight control and electric propulsion systems, with a focus on clean aviation technology. Beta designs a self-sufficient eVTOL...
HQ:
South Burlington, VT
Funding:
USD 1.1 billion
Ehang
Ehang is a technology enterprise focused on R&D and production in airplane and aircraft field. With the combination of software and hardware techniques, it self-developed the communication and real-time...
HQ:
Huangpu
Funding:
USD 105.6 million
Joby Aviation
Joby Aviation is a transportation company developing an all-electric vertical take-off and landing aircraft which it intends to operate as part of a fast, quiet, and convenient air taxi service beginning...
HQ:
Santa Cruz, CA
Funding:
USD 2.0 billion
Lyft
Lyft designs, markets, and operates a mobile application that matches drivers with passengers who request rides, and also allows payment through the app. It also allows riders to schedule rides up to seven...
HQ:
San Francisco, CA
Funding:
USD 5.3 billion
Nouveau Monde Graphite
Nouveau Monde is developing its operations with the highest environmental standards in one of the most advanced mining friendly jurisdictions in the world in Québec, Canada; they’re targeting the growing...
HQ:
Montréal, QC
Funding:
USD 207.5 million
Albemarle
Albemarle Corporation (Albemarle) is a developer, manufacturer, and marketer of specialty chemicals, that meet customer needs across a range of end markets, including petroleum refining, consumer electronics,...
HQ:
Charlotte, NC
Funding:
USD 2.2 billion
Shengxin Lithium Energy
Shengxin Lithium Energy Group Co., Ltd. was established on December 29, 2001, registered in Chengdu, headquartered in Shenzhen and Chengdu, with a registered capital of 865 million yuan. On May 23, 2008,...
HQ:
Shengxi
Atlantic Aviation
Atlantic provides a wide range of aircraft ground handling and corporate flight support services, including fueling and line services, ground transportation, catering, hangar, deicing, and ramp space....
HQ:
Plano, TX
Fraport AG
Fraport AG is among the leading groups of companies in the international airport business. It offers a full range of integrated airport management services and boasts subsidiaries and investments on three...
HQ:
Frankfurt
Golden Triangle Regional Airport
Golden Triangle Regional Airport offers airport management services. They offer baggage claim, free wi-fi, vending machines, and lost, and found services. They provide refunds, re-bookings, or other travel-related...
HQ:
Columbus, MS
John Wayne Airport
John Wayne Airport provides commercial facilities and general aviation services for Orange County....
HQ:
Santa Ana, CA
Avflight
Avflight is a privately-owned company serving the global aviation industry with a wide range of solutions to support the safe, convenient, and expeditious movement of people and goods. Specific solutions...
HQ:
Ann Arbor, MI
Clay Lacy Gateway USA LLC
Clay Lacy Aviation is one of the world’s premier private aviation companies....
HQ:
Van Nuys, CA
Choice Hotels International
Choice Hotels International, Inc.( Choice) is one of the hotel franchisors with 6,243 hotels open and 482 hotels under construction, awaiting conversion or approved for development as of December 31, 2012...
HQ:
Rockville, MD
Wenea Mobile Energy
Wenea Mobile Energy is a mobile energy operator....
HQ:
Madrid
Funding:
USD 61.2 million
Shell Global
Shell is an international energy company with expertise in the exploration, production, refining and marketing of oil and natural gas, and the manufacturing and marketing of chemicals. Find out how they...
HQ:
The Hague
Funding:
USD 750.0 million
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