AUTO FIRMS IN THE BAY AREA ARE REDEFINING THE FUTURE OF MOBILITY
Automotive companies are either acquiring companies or investing in ER&D centres in the Bay Area The Bay Area has become a hub for new-age automotive technologies. This trend is not just limited to traditional automakers, but also new age OEMs and ride-sharing companies. Enterprises such as Tesla, Uber and Lyft, headquartered in the Bay Area, are giving traditional automakers a run for their money.Auto firms in the area are focussing on autonomous vehicles, electric vehicles, connected cars and mobility. Tesla Motors, Uber, and Lyft are the top three automotive companies investing heavily in ER&D centres and making strategic acquisitions. The total acquisition deal size is estimated to be USD 5-6 billion, and the total automotive ER&D spend is approximately USD 0.5-1 billion.
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