Investment in smart mobility within the automotive industry is growing quickly. Over a 24-month period, the automotive industry invested more than $120 billion in autonomous vehicles, connected cars, electric vehicles and other smart technologies from telematics to infotainment to e-hailing, according to McKinsey & Co. — with much more to come. However, despite the significant capital investment, no single automaker, supplier or venture capitalist has yet to secure pole position across all verticals.
To accelerate growth and maximize earning potential, automotive companies with multiyear development cycles will need to both invest in and co-create new ventures with experienced entrepreneurs.