Listen: General Motors, Amazon And Detroit discussed on BTV Simulcast
"Of GM so war-chest without spending too much money. Get a pickup truck that they can get to market a lot faster. Maybe get some engineering talent that they wouldn't otherwise have Amazon. Hey, this is a way to get cheap, clean electric, delivery trucks. To them pretty quickly. So they can they can use them to get packages all over the place last week. We also covered Amazon's investment in Aurora. A self-driving tech startup that is building basically software and hardware for different automakers. That said we had the CEO Vivian on the show last year. And if I remember correctly, they wouldn't even show us a picture of the car was very secretive still in development how much has riven actually accomplished. Actually, they have shown a truck. They've got a prototype now, and they've been talking about actually going to have the thing ready, which is twenty twenty so freeze quite a bit of money. It's legitimate startup. They've got some real talent there there outside Detroit. So they're hiring people who know how to make actual vehicles as well. It's a pretty legitimate company. I sort of liken this as when General Motors bought cruise automation GM already had a self driving car initiative going on they were already making vehicles that were trying to drive themselves what they found cruise automation in San Francisco was already strapping a system onto other companies vehicles and driving or rather moving vehicles without drivers. And so this is a case where I think they've found somebody who's got some talent and got a program in the works, and they could be by investing in it accelerate their own development. So clearly there are a lot of acquisitions or potential acquisitions investment competition happening in this space. What else are you watching? Right now, we're hearing just a lot of chatter about big car companies and big tech firms. But most of the big car companies are trying to buy self driving cars startups or invest in them startups battery startups, tesla recently bought into a company that makes super capacitors which. Automotive batteries to be charged faster and go further on a church, so even Tesla's buying into some technology companies. Some of it is just taking a flyer on small companies that might have some pretty good science in other cases, it's a weight actual get somebody whose hardware and accelerate your own development. It's a pretty good marriage. Really, you think about it. You've got startups that are working solely on one project, and you have somebody with deep pockets who can come along give them the cash they need to get to the next level. And in the case of GM and Riviera you're going to get a company that's got to pick up truck sort of on the drawing board and a prototype. You not only get some money from GM and Amazon you get maybe GM's manufacturing capability. And then once the truck is ready, you've got ready made customer who's invested in you who wants to use the trucks to deliver. So you've got already some maybe pre book sales. So you can kind of see working out that way. And new electric vacation empire. Alright. Bloomberg's David Welsh in Detroit. Thanks so much for giving us some context there. Meantime, it you have probably never seen a vehicle like the one we are going to show you next. But if a publicly traded Canadian company has its way it won't be long before you see a lot of that. Bloomberg's at Ludlow reports from Vancouver."