Consumers can’t yet purchase or lease a self-driving car, but Waymo’s deployment of its robo taxi fleet hints that self-driving cars may be closer to commercialization than gainsayers believe. As a result of the progress – and the tremendous size of the potential market – corporate transactions in the autonomous vehicle technology industry have remained robust, despite the technology lagging manufacturers’ earlier forecasts. But the types and size of transactions have shifted significantly over the past 20 months, revealing how would-be industry players assess their position in the field as they adjust their investment strategy to remain relevant.

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