Investment in Automaker Startup Funding is on the fast track. Giant automobile companies already poured $6-billion as 50 deals in 2019. Asia automobile giants are on the run to acquire the startup market. These companies are competing with tech giants like Apple, Google to catch up with the trend.

Automaker Startup Funding is blooming and increasing every year. In 2019, major automakers across the world invested around $6-billion in startup fundings. Nearly 50 deals have been made through these investments.

In 2020, Asian giants like Hyundai, Toyota, and Honda are aggressively coming into the market to fund numerous startups. One of the most exciting issues is that the rivals are becoming collaborators to enhance market outcomes.

Us automaker GM’s self-driving unit Cruise is receiving $1.15-million participation from its Japanese rival Honda. German Volkswagen is backing Ford’s Agro AI with $2.6-million funding to develop the AI-based self-driving platform.

These collaborations are not any surprise move by the companies. They are trying to compete with mobility services like Uber and Lyft. Thus the current shift is more towards component development. Individual companies are developing specific components to arrange a complete business model.

Like any other sector, Asian investments are flowing rapidly into the market. Korean automaker Hyundai is leading in this trend with at least 35 investment rounds 18 of which since 2019. Toyota is following its Korean counterpart with around 14 rounds. Nevertheless, Toyota’s collaboration with BMW makes it the market leader with at least 28 rounds.

The Automaker Startup Funding is competing with tech giants like Google and Apple. While the automaker giant is taking up the Cruise and Argo AI, Apple already acquired Xnor.ai and Drive.ai both of which are autonomous driving software. Google is not sitting idle and acquired a few transport startups.