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5 years in the past, the automotive trade appeared poised for frenetic progress, with international carmakers snapping up autonomous driving startups for billions of {dollars} and making rosy guarantees to go totally electrical. Then the COVID-19 pandemic stalled the roseate advance towards a greener, extra Jetsons-esque streetscape.
Throughout the ensuing fallout, many corporations engaged on battery-electric or self-driving know-how, together with Ford’s Argo AI and Normal Motors’ Cruise subsidiaries, folded or suspended operations. However now, having adjusted to the provision shortages and different pandemic-related issues, the automotive trade is evolving at a extra measured clip.
Nonetheless, the trade’s evolution hinges upon challenges equivalent to ongoing supplies constraints, piecemeal laws governing driving know-how, and the dearth of a longtime home battery provide chain. Even the outfits that survived current rocky years proceed to face setbacks: In February alone, California regulators stymied the deliberate growth for Alphabet’s Waymo; Ann Arbor, Michigan-based Could Mobility laid off 13% of its workforce; and producers proceed to push again the goalposts set in rosier days.
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