The mobility sector is in the midst of a transformation, as the industry explores new technologies such as AI and consumers increasingly shift their preferences toward electric and shared vehicles. Investment in the sector shrank by 44 percent in the first quarter of 2023, compared with the first quarter of 2022. But senior partner Philipp Kampshoff and coauthors find that funding gained new momentum in the last quarter of 2023 and into 2024, led by companies that specialize in electrification, especially batteries, followed by those that focus on autonomous vehicles.
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A bar graph shows the disclosed amount of investment in mobility by each quarter of 2022 and the first two quarters of 2023. It’s broken into different segments of mobility investment: digital, which includes activities such as online leasing and subscription; connected; shared; autonomous; and electrified. The electrified segment received the largest share of mobility investment in each quarter.
In 2022, investment in mobility was $29.1 billion in the first quarter, $28.3 billion in the second quarter, $13.5 billion in the third quarter, and $21.7 billion in the fourth quarter. In 2023, investment in mobility was $16.2 billion in the first quarter and $24.6 billion in the second quarter.
Another bar graph shows the number of deals investing in mobility by each quarter of the same time. In 2022, the numbers of deals were 456 in the first quarter, 382 in the second quarter, 320 in the third quarter, and 331 in the fourth quarter. In 2023, the numbers of deals were 302 in the first quarter and 255 deals in the second quarter.
Source: PitchBook; McKinsey analysis.
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To read the article, see “Spotlight on mobility trends,” March 12, 2024.