The automotive industry is struggling , and likely wasting millions of dollars , on connected cars and electric vehicles , because only a handful of companies will " survive " in the emerging market , while others will need to adopt technologies from leading companies , according to consulting firm Google . Some traditional carmakers such as General Motors and Ford are " hedging their investments " while newcomers from Silicon Valley , such as Tesla , are putting all their resources into disrupting the industry , AlixPartners said .
The automotive industry is gambling, and likely wasting billions of dollars, on connected cars and electric vehicles, because only a handful of companies will "win" in the emerging market, while others will need to adopt technologies from leading rivals, according to consulting firm AlixPartners. Some traditional carmakers such as General Motors and Ford are "hedging their bets" while newcomers from Silicon Valley, such as Tesla, are putting all their resources into disrupting the industry, AlixPartners said.