This chapter explores the financial challenges of a company born from a joint venture with Hyundai and Appdiv, analyzing Hyundai's substantial investment for financial stability. The conversation delves into the hype around AI in autonomous vehicles, highlighting the mismatch between investor perception and technological reality, and discussing the strategic decisions in a challenging funding environment. The chapter also scrutinizes the challenges, strategies, and potential outcomes for companies in the autonomous vehicle market, focusing on competition, technology adoption, and revenue generation uncertainties.
From Elon Musk's decision to fire the entire Supercharging team as part of Tesla's "pivot to self-driving," to recent fundraising rounds by Motional and Wayve, the entire mobility tech space is caught between the hard work of growing up and doubling down on the AI hype fundraising game. Not everyone can be choosing wisely.