Introduction
The transportation industry is on the cusp of being disrupted in a way we have never seen before. The convergence of emerging technologies such as electrification, autonomous & connected cars, and shared mobility (e.g. car-sharing & ride-hailing) have challenged traditional auto companies to think about the future of their current business models. Many have criticized the auto industry's slow innovation process, particularly in comparison to the fast-paced speed of Silicon Valley companies. New smart phone designs come out every year, while new cars take three to four years for just a mid-model change.
Figure 1. Global Automotive R&D Spending...