Advanced Mobility Market Update February 2019 Electric Ecosystem Mobility-as- Autonomous Data & Vehicles Intelligence a-Service Infrastructure Analytics About Greentech Capital Advisors Our mission is to empower companies and investors who are creating a more efficient and sustainable global infrastructure. We are purpose-built to ensure that our clients achieve success. We have deeply experienced bankers who are sector experts and understand our clients' industries and needs. We reach a vast global network of buyers, growth companies, asset owners and investors, and thereby provide clients with more ways to succeed through a deeper relationship network. We have directly relevant transaction experience which enables us to find creative structures and solutions to close transactions. We are an expert team of 65 professionals working seamlessly on our clients' behalf in New York, Zurich and San Francisco and through a strategic partnership in Japan. 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Greentech Capital Advisors / 1 Advanced Mobility Market Update February 2019 News Selected Business > CityMapper, a public transportation navigation app, launched PASS, a mobility- Developments as-a-service subscription program that includes public transportation, shared bycicles and ride-hailing solutions (Medium) > Chauffeur-Prive, a French ride-hailing company owned by Jurbey, the Daimler- BMW mobility JV, is rebranding to Kapten (TechCrunch) > HERE is launching the Institute for Advanced Research in Artificial Intelligence, an independent machine learning institute that will process geolocation data on an industrial scale, with an initial $25mm investment (VentureBeat) > Lucid Motors, a developer of EVs who recently received funding from Saudi Arabia’s sovereign wealth fund, is planning on unveiling an SUV (The Verge) > Lyft is rolling out “Green Mode” to its service which allows riders to request an EV or hybrid vehicle as part of the Green Cities Initiative (Electrek) > Lyft’s IPO roadshow is expected to start in March, with valuations expected in Greentech’s Take: the $20-25bn range, as they race Uber to the public market (Reuters) > While Tesla has controlled the > Polestar, Volvo’s EV subsidiary, unveiled its first fully electric car, a $45,000 performance EV five-door fastback that will go into production next year (TechCrunch) market since the release of the Tesla S, > Porsche will convert its best-selling U.S. car, the Macan SUV, into an EV after new competitors are the introduction of its first EVs, the Taycan and Cross Tourismo (TechCrunch) converting existing > Tesla is borrowing $2bn from local Chinese banks to build its Chinese models or launching new ones to compete Gigafactory, which is expected to start production in 2019 (Electrek) in the space > Tesla revealed a $35,000 Model 3, likely at the expense of a profitable Q1 2019, and announced the closing of all brick-and-mortar stores (Bloomberg) > Toyota is launching a car subscription company, Kinto, that will gamify its service by rewarding drivers for safe driving (TechCrunch) > Uber added public transportation options to its services in Denver, aiming to become a one-stop-shop mobility provider (TechCrunch) > VW plans to make its electric vehicle skateboard platform, the MEB, available to other automakers in an effort to create an industry standard (Smart Cities Dive) > VW is converting Jetta, which has a long history in China, into a new and separate company that will exclusively make cars for China (The Verge) Selected > Beijing, which historically used European fuel standards, adopted the stricter Regulatory Californian standards, which limit the allowed carbon output from light duty Developments vehicles, in an effort to stem the growing air pollution issues (CleanTechnica) > Talks between California and the U.S. government regarding uniform vehicle emission standards have formally ended after a lengthy standstill (Reuters) Greentech’s Take: > The California DMV released its annual report of disengagement data for AV > California’s testing in the state, with Waymo and GM Cruise having the lowest aggressive fuel standards are widely disengagement rate and accounting for ~85% of miles tested (DMV) becoming industry > The Canadian government pledged C$400mm to subsidize a new AV-focused standard, being Blackberry research center in Ottawa (CBC) adopted by 12 other U.S. states and many > The E.U. is stimulating the market for zero- and low-emission vehicles by foreign countries encouraging their use in public procurement (EUMonitor) > The French government is investing $700mm to support new battery cell factories over the next five years (CleanTechnica) > German Finance Minister Olaf Scholz plans to retain the tax credit on electric cars, extending it beyond the expected 2021 current end date (Reuters) Source: Greentech Analysis, Public Disclosures. Greentech Capital Advisors / 2 Advanced Mobility Market Update Partnerships & Transactions Selected > Aurora Innovation, an autonomous vehicle startup led by former Waymo Capital Raises CTO Chris Urmson, raised $530mm in funding from Sequoia, Amazon, Greylock Partners, Shell Ventures and T. Rowe Price (CNBC) > Chehaoduo, a Chinese startup developing new and used car marketplaces, received a $1.5bn investment from SoftBank (TechCrunch) > DoorDash, an on-demand food delivery service, raised a $400mm round co- led by Temasek and Dragoneer Investment Management (Axios) > Go-Jek added $1bn to its ongoing Series F from existing investors Tencent, Alphabet and JD as it gears up to compete with Grab (Reuters) Greentech’s Take: > Ike, an autonomous trucking startup, raised a $52mm round led by Bain > Startups developing Capital Ventures, with participation from Fontinalis (TechCrunch) autonomous solutions for the > Lalamove, a Hong Kong-based on-demand logistics startup, raised a logistics space are $300mm round led by Sequoia Capital China (TechCrunch) raising large rounds > Lime, the micro mobility startup, raised a $310mm round led GV with as investors expect participation from Bain Capital Ventures, Andreessen Horowitz, Fidelity these applications to Venture and IVP, with a $2.4bn post-money valuation (TechCrunch) be the first commercially viable > May Mobility, a developer of autonomous shuttles, raised a $22mm round applications of co-led by Millennium New Horizons and Cyrus Capital (Automotive News) autonomous vehicles > Nuro, the autonomous last-mile delivery startup, raised a $940mm round from SoftBank at a $1.7bn pre-money valuation (TechCrunch) > Roadie, the developer of an on-the-way delivery platform intended to facilitate urgent delivery, raised a $37mm round led by Home Depot, with participation from TomorrowVentures (VentureBeat) > Rivian, a developer of electric pickup trucks, raised a $700mm round led by Amazon, with participation from existing investors (Electrek) > TuSimple, an autonomous trucking startup, raised a $95mm round led by Sina Corp at a $1bn pre-money valuation (TechCrunch) > Zūm, a ridesharing service for children, raised a $40mm round led by BMW i Ventures, with participation from Sequoia Capital (TechCrunch) Selected Mergers & > Groupe PSA acquired TravelCar, a peer-to-peer car sharing platform, for an Acquisitions undisclosed sum (New Mobility) > Dynamic Map Platform acquired Ushr, a provider of HD mapping and navigation technology for AVs, for $200mm (Reuters) > Tesla acquired Maxwell Technologies, a developer of ultracapacitors that use dry electrode technology, in an all-stock deal worth $218mm (TechCrunch) Selected > Daimler and BMW are forming a JV to develop AVs (Reuters) Partnerships > Daimler and BMW’s mobility JV will be made up of five components – Reach Now, Charge Now, Park Now, Free Now and Share Now – and both companies will invest $1.1bn into these services over the coming years (TechCrunch) > FedEx partnered with DEKA to develop an autonomous delivery pod (Reuters) Greentech’s Take: > Ford partnered with what3words, a mapping startup that broke the world > Legacy OEMs into 3x3 meter squares each assigned a three-word string (TechCrunch) continue to partner in an effort to spread > MaaS provider Moovit, TomTom and Microsoft are developing a mobility out the high costs of app that identifies all of the driving, parking, and public transit options, and developing new surfaces them in a single package for map users (New Mobility) mobility and > Via partnered with HP Transportes Coletivos, a Brazilian public transport autonomous technology operator, to launch CityBus 2.0, an on-demand shuttle service (TechCrunch) > VW’s Electrify America equipped 100 charging stations with Tesla batteries to minimize the cost of charging during peak electricity hours (TechCrunch) > Waymo is in advanced talks with the Renault-Nissan-Mitsubishi Alliance to form a partnership to build AVs (Bloomberg) Source: Greentech Analysis, Public Disclosures. Greentech Capital Advisors / 3 Advanced Mobility Market Update Transactions Capital Raises Amount Raised Date Company ($mm) Disclosed Investors Company Description 2/1 Go-Jek $1,500 Tecent Holdings, JD.com, Alphabet South-East Asian ride-hailing provider 2/5 Ike $52 Bain Capital Ventures, Basis Set Autonomous trucking startup Ventures, Fontinalis Ventures, NEO Ventures, Redpoint Ventures 2/6 Lime $310 Alphabet, Andreessen Horowitz, Bain Micro mobility startup Capital Ventures, Bling Capital, Coature Management, DCM Ventures, Fidelity Management, Fifth Wall Ventures, FJ Labs, GGV Capital, GIC Private