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    Financial Times: Can Automakers Catch Up with Google in Driverless Cars?

    Posted by Sample HubSpot User

    Feb 22, 2019 11:32:36 AM

    Can Automakers Catch Up with Google in Driverless Cars?

    General Motors celebrated being the world’s largest carmaker for the 76th straight year in 2007. It was sitting on $25 billion in cash. Eighteen months later, it was bankrupt. The automotive industry is among the most capital intensive in the world: If the economy sours, assets turn into liabilities overnight as factories churning out thousands of cars begin to hemorrhage cash. So when toxic mortgage securities blew up in 2008, causing a recession, banks performed terribly — but carmakers fared even worse. (Article originally appeared in Financial Times)

     

    Topics: financial Times, Automotive, automotive electronics, autonomous vehicle, foresight, autonomous car, driverless car