CBINSIGHTS-移动出行报告：值得关注的投资趋势与领域（英文）-2021.03正式版.doc

State Of Mobility: Investment &Sector Trends To Watch1WHAT IS CB INSIGHTS?CB Insights helps the worlds leading companiesmake smarter technology decisions with data,not opinion.Our Technology Insights Platform providescompanies with comprehensive data, expertinsights and work management tools to drivegrowth and improve operations with technology.SIGN UP FOR A FREE TRIAL2CB Insights helps us compress our time-to-decision when gathering and analyzing data and getting an external view on what's happening in the market so we can quickly take action.Meraj MohammadVice President, Ventures Group, ADP3Our Most Popular Client-Exclusive ResearchThe Future Of Transportation: The Impact Of Covid-19 On MobilityQ&A: The Impact Of Covid-19 On Mobility And TransportationWhat The Auto Tech Industry Could Look Like In A Post-Covid World 70+ Companies Driving Innovation In Electric VehiclesThe Future For Electric Vehicles Looks Bright As Traction Around Charging Infrastructure Builds Market Map: 90+ Companies Defining The Micromobility RevolutionAmid Failure And Market Uncertainty, How Self-Driving Tech Developers Are Pushing Forward Autonomous Trucking: Providers And Solutions Autonomous Last-Mile Delivery: Providers And SolutionsMarket Map: 50+ Companies Reshaping Auto Commerce3 Ways Digitization Is Reshaping The Car-Buying ExperienceThe Rise Of Connected Vehicles Is Creating A New Cybersecurity Market 40+ Corporations Working On Autonomous Vehicles4Contents81018SummaryMarket DriversInvestment Trends3076Sector HighlightsAppendix5WHAT THE STATE OF AUTO & MOBILITY COVERSELECTRIC VEHICLE TECHCompanies developing electric vehicles and the technology that supports them, such as charging and battery tech.IconhereAUTO COMMERCETech-enabled companies reshaping the way people buy, sell, trade, or purchase cars, RVs, trucks, and fleets.IconhereAUTONOMOUS VEHICLE TECHCompanies working on autonomous vehicle design, development, and training, as well as the components that support self-navigation.IconhereBIKE AND SCOOTER TECHCompanies developing personal or shared bikes and scooters, as well as the underlying technology that supports them, like network infrastructure and charging tech.CONNECTED VEHICLE TECHCompanies enabling in-vehicle connectivity and connectivity-related applications such as telematics and fleet management.MOBILITY-AS-A-SERVICECompanies offering on-demand access to passenger and personal vehicles, as well as companies integrating multiple modes of transit into one service.6Summary of findingsOverall auto & mobility trendsFunding to the broader auto & mobility sector fell slightly in 2020: Funding was down 5% year-over-year (YoY) to $27.6B after falling 20% in 2019, while deals fell 21% in 2020 YoY to 522, the second consecutive annual drop. Despite a weaker start to the year, in part driven by the pandemic, activity picked up in H2 as companies addressing electrification and autonomy drew significant interest from investors.Exits reached a new peak in 2020 at 107, with 22 SPAC deals across auto & mobility: Electric vehicle (EV) companies led the SPAC lineup, comprising 58% of 2020s total deals.Covid-19 temporarily reeled back deal activity: Investors scaled back funding in Q220 as the impact of the pandemic set in. That said, deal activity and funding both recovered in H220 as sentiment improved and investors saw fresh opportunities in commercial vehicles and logistics.North Americas share of auto & mobility deals is slipping: Asia and Europe are gaining deal share over time, as the regulatory backdrop for electrification and micromobility remains more favorable in developed nations outside the US. Europes deal share rose to 25% from 22% in 2019, while North Americas deal share fell for the fourth consecutive year to 32%, and Asias fell slightly to 39% from 41% the year prior.Auto & mobility unicorns born in 2020 span multiple verticals: Of the 8 unicorns born in 2020, 4 operate in auto commerce (Cars24, Creditas, Kavak, Socar), 1 focuses on electric vehicles (Cazoo), 2 work on autonomous vehicle (AV) training (Applied Intuition, Scale AI), and 1 operates in the ride-hailing space (Via Transportation).7Summary of findingsAuto & mobility sector-specific trendsElectric vehicle tech: EV tech companies raised a record $12.8B in funding across 193 deals in 2020. OEMs brought in the bulk of the funding nearly $8B as investors rewarded passenger and logistics vehicle makers.Autonomous vehicle tech: Funding to AV companies reached a new peak in 2020, garnering $7.3B across 105 deals. The ecosystem is maturing, as investors have identified tech leaders and are placing larger bets on these firms. Average deal size rose to $104M from $89M in 2019.Connected car tech: Deals to connected vehicle tech companiesdipped for a second consecutive year in 2020, falling 34% to 70deals, from 106 in 2019. Funding plunged 52% to $1B from$2.2B the year prior. Because connectivity solutions have beenwidely adopted, investors have pivoted focus to other areas ofauto tech such as electrification and autonomy.Auto commerce: On the whole, auto commerce saw a dip in funding in 2020. However, auto e-commerce enablement companies saw unprecedented demand for their products during the pandemic, suggesting these solutions may garner more capital from investors in the year to come.Bike & scooter tech: Funding to bike and scooter companies rose 52% YoY in 2020 to $2.4B across 83 deals. Despite rapid adoption of bikes and scooters during the pandemic, funding failed to regain the momentum seen in 2017 2018, as investors remain skeptical of the viability of sharing platforms.Mobility-as-a-service (MaaS): Funding to shared mobility companies fell 20% in 2020 to $6.3B across 116 deals. Ride-hailing took a substantial hit during the pandemic as lockdown orders and social distancing measures halted travel.8Auto &MobilityMarketDrivers9AUTO & MOBILITY MARKET DRIVERSPandemic reshapes how people live and moveThe outbreak of Covid-19 in early 2020 had a substantial impact on transportation as travel came to a halt, consumers chose personal vehicles over shared, and e-commerce/delivery demand surged.US consumers are choosing personal cars over public transitUber pivots to delivery as ride-hailing suffersChange in routing requests through October 27, 2020 since January 13, 2020Ubers gross bookings in the first 9 months of 2020 vs. 2019,baseline in 5 most populous states in the USby segment$36.2M$19.8M$20.2M$10.1MMobilityDeliveryQ1'19-Q3'19Q1'20-Q3'20Sources: Apple, Uber10AUTO & MOBILITY MARKET DRIVERSE-commerce demand drives focus on logisticsTech-enabled logistics came into focus in 2020 as consumers opted for online shopping and food delivery, creating a stronger need for last-mile efficiency. In response, a number of companies focused on passenger vehicles, while robotaxis explored opportunities in delivery.Earnings transcript mentions, last-mile delivery, 2010 2020Sources: Grocery Dive, FreightWaves, The VergeUber scales up grocery business as delivery operations overtake ride sharingNovember 6, 2020GM bets on BrightDrops connected last-mile delivery ecosystemFebruary 12, 2021Cruise is teaming up with Walmart for robo-delivery in ArizonaNovember 10, 202011AUTO & MOBILITY MARKET DRIVERSBikes & scooters provide socially distant transitIn urban hubs, bikes and scooters provided a socially distant mode of transport and served as a more affordable, convenient option than purchasing a new car.Earnings transcript mentions, bike OR bicycle OR scooter, 2008 2020Cities are transforming as electric bike sales skyrocketMay 14, 2020It was a massive year for electric bikes and scootersDecember 18, 2020The pandemic is giving e-bikes a boostAugust 1, 2020Sources: The Verge, Engadget, The Economist12AUTO & MOBILITY MARKET DRIVERSPandemic lockdowns spur auto retail innovationThe stay-at-home economy created a surge in demand for online car buying services and vehicle delivery services. Consumers are increasingly willing to buy a car online.Share of car buyers open to buying cars onlineNews mentions, digital AND dealership(before vs. during Covid-19 pandemic)(2012 2020 YTD)Sources: CarGurus (left)13AUTO & MOBILITY MARKET DRIVERSClimate concerns drive focus on electric vehiclesVehicle electrification has become top-of-mind in the broader push to combat climate change. Tailwinds remain in place for electric vehicles: the regulatory backdrop in both China and Europe is favorable and falling battery costs will likely help spur adoption.News mentions, climate AND electric vehicle, 2011 2020Sources: The Guardian, FT, Automotive NewsElectric vehicles close to tipping point of mass adoptionJanuary 22, 2021The electric car future is finally taking offDecember 10, 2020Biden era holds big promise for future of electric vehiclesJanuary 11, 202114AUTO & MOBILITY MARKET DRIVERSFAMGA ramped auto & mobility activity in 2020 Strategic investments: Rivian (electric vehicles), Aurora (autonomous driving), Acko General Insurance (auto insurance), Deliveroo (on-demand delivery), Shuttl (mobility-as-a-service), Redwood Materials (battery recycling). Acquisitions: Amazon acquired autonomous vehicle company Zoox in June 2020. Zoox remains a standalone business under Amazon and continues to focus on developing an autonomous passenger vehicle from the ground up. Product: In October 2020, Amazon and Rivian unveiled their jointly developed electric delivery van. Product: In December 2020, Amazons Zoox unveiled its self-driving taxi. Strategic investments: Alphabet contributed to scooter-sharing platform Limes $170M Series E round in May 2020 and subsidiary Waymos $2.3B round in March 2020. Partnerships: Waymo partnered with Daimler to co-develop self-driving semi-trucks as well as Fiat Chrysler and Volvo on passenger vehicle applications. Product: Waymo expanded its Phoenix-based ride-hailing service to more users in October 2020. Product: Apple may be aiming to launch an all-electric self-driving car by 2024, per news reports. It is reportedly working on its own battery technology.16AUTO & MOBILITY MARKET DRIVERS2021 activity suggests even more involvement Strategic investments: Rivian (EVs), Deliveroo (on-demand delivery); in January 2021, Amazon expanded its partnership with EV manufacturer Lion Electric, securing the right to buy up to 15.8% of the company. Product: Amazon started testing Rivians electric delivery vans in Los Angeles in February 2021. Partnership: Google partnered with Ford in a 6-year deal that brings Android tech to Ford vehicles and cloud services to Fords factory floor. Product: Waymo began testing its robotaxis in San Francisco in February 2021. Strategic investments: Microsoft contributed to Cruises $2B round in January 2021. As part of the investment, Cruise will use Microsofts cloud computing platform, Azure, for its self-driving vehicles, while parent GM will work with Microsoft to digitize its supply chains and more quickly launch new mobility services, such as robotaxis and last-mile delivery. Partnership: Volkswagen expanded its partnership with Microsoft, which focused on cloud computing for connected vehicles, to include autonomous driving development.16Auto & Mobility Investment Trends17AUTO & MOBILITY INVESTMENT TRENDSFunding to auto & mobility fell slightly in 2020Annual auto & mobility tech deals and funding, 2015 2020Funding amount ($M)Deal count$50,000676736664800$40,000522600461$30,000387400$20,000$10,000200$0$17,497$13,851$42,234$36,458$29,070$27,626020152016201720182019202018AUTO & MOBILITY INVESTMENT TRENDSAuto & mobility rode the SPAC wave in 2020In 2020, an unprecedented number of companies across industries went public via special purpose acquisition companies (SPACs).Number of IPOs via SPAC for auto & mobility startups, 2015 2020Electric vehicle technology22LidarAuto retail11111Connected car tech20152016201720182019202019AUTO & MOBILITY INVESTMENT TRENDSSPAC spree continues into 2021Connected car data platformLidarPeer-to-peer car sharingSPAC date: 2/1/2021SPAC date: 2/24/2021Expected SPAC date: Q121Otonomo Technologies offers aJoby Aviation is developingTuro is a peer-to-peer car sharingcloud-based SaaS car datapersonal electric VTOL aircraft.marketplace that allows guests toexchange and marketplace thatThe company has expertise inchoose from a selection of nearbyenables car OEMs to monetizecomposite airframe design andcars, while hosts earn extra moneycar data in a safe, controlled, andfabrication, high-fidelityto offset the costs of carsecure manner.aerodynamic analysis, and high-ownership.performance electric motor designand fabrication.EV charging infrastructureFuel cell trucksElectric micromobilityExpected SPAC date: Q121SPAC date: 2/5/2021SPAC date: 2/8/2021ChargePoint operates an electricHYZON Motors is a globalHelbiz is an intra-urbanvehicle (EV) charging network.supplier of zero-emissionstransportation company aimingThe compa