Drake Star Partners recently published the “State of the Advanced Mobility Industry Report 2021.” This report focused on the great acceleration of electric and autonomous vehicles, the effects of COVID-19 and what happens after. In this exclusive interview with TechBullion, Vitaly Golomb will be sharing more details with us on the advanced mobility industry.
Please tell us your name and a little more about yourself?
My name is Vitaly Golomb and I am a partner with Drake Star. I’m an investment banker, entrepreneur, investor, and a founding member of HP Tech Ventures. I’m also the author of Accelerated Startup, a bestseller that outlines “everything you need to know to make your startup dreams come true from idea to product to company.”
What specific services do you provide at Drake Star Partners and who are your customers?
Drake Star Partners is a global investment banking firm serving the technology, media and communications (TMC) sectors. Since 2003, we have worked with a myriad of important clients and counterparties such as Accel Partners, Cisco, Electronic Arts, Lexis-Nexis, Manpower, Nokia, Oracle, and Thomson Reuters, among many others.
What are the highlights of the New 2021 Mobility Report?
The report focuses on COVID-19’s macro-level impacts on the auto industry. It looks at the changing urban mobility preferences as a result of COVID-19 and how major auto players have had to adjust. It also identifies the likely winners and losers from the pandemic and how tech and VC will potentially play a role in the recovery. More specifically, the report suggests electric vehicles look to regain momentum as the Biden administration commits to an environmental focus, while autonomous vehicles face a more challenging path ahead. Our report provides a comprehensive look at both industries, where they currently stand, and where they are headed in the future.”
How much has COVID-19 impacted the advanced mobility industry?
The global automotive industry was hit particularly hard by the economic effects of COVID-19. As a result, automakers and mobility tech startups have had to adjust their business models. Corporate players had to readjust their strategic priorities and pulled back investments in emerging technologies and early-stage mobility tech startups.
That being said, the long-term outlook remains bullish on the industry. The effects of the pandemic on mobility will be lasting, but will result in new disruptive products and services being offered to adjust to new trends and behaviors.
Specifically, the electric and autonomous vehicle industry is gaining more traction, what are the latest developments from this industry?
The electric push is well underway. BloombergNEF predicts EV sales will exceed conventional car sales globally by 2038.
While slower toward adoption, Autonomy will transform the automotive landscape and offer new opportunities in driver assistance, safety, maintenance, security, and infotainment.
What is the current market size of the advanced mobility industry and what type of growth do you expect in the next 5-10 years?
The global transportation industry is a $5 trillion monster. To date, most of the advanced mobility movement has been in the passenger EV sector. And as exciting as it has been, we are at less than 3% market penetration. There are a lot of great companies working both on the infrastructure needed for electrification of transport (charging networks and soon to follow hydrogen fueling) and in consumer and commercial vehicles. Progress is being made across every category: from on-road passenger, micro mobility, and recreational vehicles to commercial trucks, public transportation, and aviation.
What does the Mobility Report Cover?
The “State of the Advanced Mobility Industry Report 2021” is divided into three sections:
1) State of the Industry – Electric Vehicles: A thorough analysis of the accelerated global adoption of electric passenger cars, commercial trucks, busses, aviation, and two-wheel transportation, as well as the electric battery and charging infrastructure landscape.
2) State of the Industry – Autonomous Vehicles: An in-depth review of the potential for self-driving passenger and commercial vehicles, and the technical, regulatory and customer perception challenges to mass adoption the industry faces.
3) The Advanced Mobility Almanac – An extensive look at more than 50 global corporations working on electric and autonomous vehicles.
Could you tell us more about your team of investment and advisory experts at Drake Star Partners, what makes you special?
Drake Star’s Global team of 100+ senior professionals offer unequalled understanding of the business models and buyer/investor universes within the TMC sectors. This domain expertise, along with the technical know-how of bulge bracket investment banks uniquely positions us to achieve desired results for our clients worldwide.
Do you have any available opportunities for investors and partners at Drake Star Partners?
We are working on a number of exciting financing, M&A, and SPAC transactions in component technologies, energy transition infrastructure, and the vehicles that depend on it all. So far, 2021 has been a record deal-making year for Drake Star that has put us firmly at the top of the mid-market investment banking league in the U.S. and Europe. We are always delighted to take on new challenges and showcase our technology depth.
Where can our readers get a copy of the Mobility Report?
To read the “State of the Advanced Mobility Industry Report 2021,” click here.