Investors hit the brakes on automotive startups

Last year, Ted Serbinski called his accelerator, TechStars Detroit, the “‘comeback city’s’ startup ecosystem.” Since 2015, the accelerator had supported and mentored 54 transportation-related companies, with funding from some big transportation names, like Ford, Honda, AAA, and Nationwide. Success stories included Cargo, a startup that helps ride-hail drivers make supplemental income by running rider-friendly “convenience stores” out of their cars; Splt, a ride-share company acquired by Bosch in 2018; and Acerta, which applies machine learning to automotive manufacturing.

https://www.wired.com/story/investors-hit-brakes-automotive-startups/