News

Check out market updates

Silicon Valley takes on the Motor City

“Detroit vs. Everybody” is a popular t-shirt in the hometown of General Motors and Ford these days.

Yet it might as well read “Silicon Valley vs. Motor City” as the San Francisco Bay Area emerges as a centre for global transportation innovation. That was brought home last week, when people familiar with the matter said Apple is developing an electric vehicle and has devoted several hundred people to the secretive project.

“It’s the hot spot of development and that has in a big way spilled into the autos space,” said Jeff Schuster, senior vice president for forecasting at LMC Automotive. “These are the new suppliers, these are the new auto companies.”………………… Read More