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Mobility

Economy chills investments in EVs and mobility

Abhijit Ganguly, managing director of Goodyear Ventures, which has invested in Revel and Starship Technologies, said the backing of a corporate parent means the firm can have more patience with its startup investments.
Abhijit Ganguly, managing director of Goodyear Ventures, which has invested in Revel and Starship Technologies, said the backing of a corporate parent means the firm can have more patience with its startup investments.
KD
By:
Karn Dhingra
December 18, 2022 05:00 AM

Once flush with easy money, investors have soured on investing in electric vehicles and other mobility startups amid uncertain economic conditions. The total amount invested in the moblity tech sector dropped by 79 percent year-over-year in the third quarter of 2022, according to the latest figures from financial services firm PitchBook.

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