The coronavirus pandemic is drying up the capital markets, and that’s extremely bad news in the world of autonomous vehicles.
Development of that technology is costly for both legacy automakers and new startups. Adding semi-autonomous features to your next vehicle, creating fully robotic cars, and making money while doing so, is another thing.
For regulatory reasons, automakers largely have no choice but to keep investing big bucks into electric vehicles and batteries. Self-driving car tech may be a luxury in this economy. Ride-hailing and car share services could also see big changes. Automakers and tech companies banked the future on these.
Read the article at The Drive.
