In Germany there are comparatively few successful start-ups in the automotive industry. This emerges from a study published by the startup association on behalf of the transformation network neu/wagen. According to the study, the auto industry in Germany generates 3.5 percent of the gross domestic product.
This proportion is significantly higher than the value of 0.6 percent in the USA. However, despite its great importance for the German economy, three times as much investment per capita is made in start-ups in this area in the USA, which indicates a stronger focus on innovation compared to production. Asian countries such as China and India are also well represented.
There is a risk that Germany will lose connection
According to the association’s assessment, there is a risk that Germany will lose out in this field of innovation: the largest investments (“exits”) in recent years have been concentrated on the start-up ecosystems in the USA and Asia. Of the currently five best-financed mobility start-ups, Northvolt from Sweden is the only European company represented.
According to the study, among the young companies in the industry, the hardware-based area only makes up around 11 percent of the sector – almost every fifth start-up is based in the automotive software sector.
It is striking that mobility start-ups in Germany are concentrated in well-known automotive locations, for example in the Hanover/Hildesheim region. The Volkswagen Group and Continental, among others, are active there. The startup association emphasized that collaborations with established companies, which can be expanded as a significant strength, have proven particularly promising.
