Tech companies have learned that there’s more money to be made in software than hardware.
The auto industry is starting to apply that same lesson, beginning a gradual shift from goods to services, like car subscriptions and ride-hailing apps.
At the CES in January, Ford outlined a vision for its future built on connecting people, autonomous vehicles, and city infrastructure. During CEO Jim Hackett’s presentation, he said the Transportation Mobility Cloud (TMC), which will facilitate those connections.
Two weeks after CES, Ford announced that it had purchased Silicon Valley startup Autonomic, which is developing the TMC.