Silicon Valley News Update
Week Ending June 16, 2017
This week we saw some interesting developments across the Automotive ecosystem and beyond. Below are some key highlights:
Large car manufacturers/OEMs are trying to monitor their risks vis-à-vis the car-sharing and ride-hailing trends as they are determined to get ahead of Silicon Valley’s new startups. As an example, BMW is now pushing it’s ReachNow, car-sharing service.
Facebook is determined to forge closer ties with automakers, Facebook’s COO, Sheryl Sandberg will attend, for the first time, the annual Facebook Automotive Summit in Detroit. It appears that their strategy is to convince automobile manufacturers that they can make money by selling ads on the social media platform and therefore increase advertising revenue. Apple is now focusing on their “autonomous systems” and is planning to sell it to any willing manufacturer who could then install it in its own cars. Uber has been embroiled by management turnovers and endured scandals with the last episode being its CEO, Travis Kalanick now put on an indefinite leave of absence as of this week. Lyft seems to be taking advantage of the situation. They were able to raise an additional $600 million in funding to fuel its expansion.
Toyota is now considering mergers and acquisitions to obtain new automotive technologies, including mostly self-driving technologies focusing on companies in the Silicon Valley. Large capital investments are pouring into the LiDAR market, as carmakers are getting prepared for autonomous and assisted driving. Quanergy Systems, the leading provider of LiDAR sensors and smart sensing solutions, just announced that it would demonstrate a first-of-its-kind security solution for intruder detection and surveillance automation. BMW iVentures, the company’s venture capital unit, has announced a strategic investment in Proterra, the leading innovator and manufacturer of heavy-duty electric mass transportation vehicles. Jaguar Land Rover has revealed its investment of $25 million in Lyft as part of an effort to build up and develop autonomous vehicles and other emerging automotive technologies.
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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