Advanced Mobility Market Update – March 2019
Greentech Capital Advisors’ Advanced Mobility Monthly Market Update summarizes key announcements, M&A, and capital raising activity related to advanced transportation, while providing detailed trading metrics on public companies across the sector.
- With Uber’s $3.1bn acquisition of Careem, they have succeeded in acquiring a piece of the leading ride-hailing provider in every region in which they do not operate, including 27% of Grab in Southeast Asia, 20% of Didi in China, 36.5% of Yandex in Russia and now 100% of Careem in the Middle East
- Even deep-pocketed technology companies, like Uber and Alphabet, are looking for external funding to support their AV divisions, highlighting the immense investment required to produce consumer-ready AV technology
- The U.S. Secretary of Transportation announced the creation of the Non-Traditional and Emerging Transportation Technology Council and the U.K. and the city of Pittsburgh have released new frameworks around AV testing, highlighting the efforts that governments are now taking to get out ahead of emerging transportation technology after having gotten caught flat-footed by the emergence of ride-hailing services