July 28, 2017 – Silicon Valley Automotive News

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Silicon Valley News Update

Week Ending July 28, 2017


This week we saw some interesting developments across the Automotive ecosystem and beyond. Below are some key highlights:


  • Lyft is opening and staffing up a new self-driving car division. Read More
  • Foundries accelerate auto efforts. Read More
  • General Motors to cancel six cars including Chevy Volt and Sonic. Read More
  • What’s taking so long for driverless cars to go mainstream? Read More
  • Volkswagen‘s 5 electric cars start in 2019: what we know so far. Read More
  • Toyota could finally start mass producing electric cars thanks to China. Read More
  • Audi copies Silicon Valley risk-taking culture with self-driving A8. Read More
  • NIO capital leads $46M round in autonomous driving technology firm momenta. Read More
  • 10 Travel start-ups with Mobility-as-a-Service technology. Read More
  • General Motors will develop a new tech framework for over-the-air updates – and challenge Tesla. Read More
  • SoftBank said to consider an investment in Uber. Read More
  • Mercedes-Benz to introduce driverless vehicle within 5 years. Read More


HMP Commentary:

Lyft is planning to hire hundreds of workers when it opens a new facility dedicated for self-driving car technology development in Palo Alto by the end of 2018. NIO Capital, the private equity fund established by Chinese company NIO, has led a Series B round of $46 Million in Momenta, a Beijing-based autonomous driving technology firm. SoftBank has invested in three ride-sharing companies in Asia and is now seeking an investment in Uber. General Motors has announced that it is ready to challenge Tesla, in a new technology area, the over-the-air (OTA) software and firmware updates for vehicles. However, on a different note, due to the falling sales profits, GM may eliminate up to six cars from its lineup including the Chevy Volt and Sonic.


“In Europe everything is forbidden until it is allowed. In America everything is allowed until someone says that it’s a little bit dangerous, so let’s regulate”. Rupert Stadler, Audi’s CEO described the difference in business culture between Europe and the Silicon Valley while presenting the brands new A8 self-driving flagship sedan. Autonomous vehicle technology is improving so rapidly and many companies have the technology they need for driverless cars. However, the process is taking longer than expected to go mainstream because most institutions are dealing with the ethical and legal sides of decisions made by self-driving cars. Volkswagen wants to be a part of the growing self-driving car market and intends to present its first high-volume electric cars by 2019. Mercedes-Benz is confident to introduce its fully autonomous driving vehicles within the next five years. After being reticent when it comes to producing Electric Vehicle’s (EVs), Toyota has just announced the mass production of EVs to meet specific standards in China and it confirmed that its cars will be introduced to that market in the next few years.


About Harvest Management Partners LLC:

Harvest Management Partners LLC is a Silicon Valley based investment bank, specializing in company financial assessment, advisory services, plan of action development, strategic marketing, and worldwide negotiation of mergers and acquisitions.  Since 2010, Harvest Management Partners has assisted over 40 technology clients within the software, semiconductor, security, IP and automotive electronics sectors.  They are also the exclusive Silicon Valley advisors for Fiat Chrysler Automotive (NYSE: FCAU) and TE Connectivity (NYSE: TEL).  With a combined history of 60+ years of direct operational experience and relationships with venture capitalists and C-Level executives worldwide, Harvest Management Partners is well positioned to provide a comprehensive set of unique services for their clients. For more information, visit www.harvestmp.com