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What's going on?
German conglomerate Siemens announced on Wednesday that it was buying a startup that builds software for self-driving cars another sign that many of the worlds biggest corporations are investing big to get in on the world of autonomous driving.
What does this mean?
Siemens is already a massive supplier of components to the automotive industry, so its not too surprising that theyd try to sell parts and software for self-driving cars to their customers as well many of whom (like BMW) are looking to build their first fleets of autonomous vehicles.
One the biggest barriers to change is anxiety over the safety of self-driving cars and so, self-driving car startups that are focused on improving safety (like the one Siemens just bought) have been especially appealing to companies investing in the space.
Why should I care?
For markets: Investment into self-driving cars is continuing to rev up (pun intended
Originally posted as part of the Finimize daily email.
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