When I moved back to Los Angeles from New York a year ago, I decided to try forsaking what has long been considered to be as much a part of L.A. life as the sunshine and celebrities. I would go without a car.
As recently as four years it seemed to be an unthinkable and perhaps even heroic undertaking. In 2016, someone made a two-hour documentary about "surviving" carless L.A. But since then, ridesharing went mainstream and scooters became ubiquitous on city streets. I'd also gotten used to riding the train in New York and it helped that I was living in walkable and transit-accessible downtown L.A. I would save some money and reduce my carbon footprint. As an added bonus, being carless in L.A. always made for a great conversation topic.
Los Angeles County is cementing its position as the nation's center of the electric vehicle industry, where some 118,000 jobs working on everything from car design to better batteries.
The Los Angeles Economic Development Corp. said Monday, in its study on the industry, that L.A. controls 43% of California's massive EV industry. The growth helps the state compete with Michigan in what the LAEDC is calling a "hometown industry."
The struggling Santa Monica-based TrueCar, which operates the nation's fourth largest online automotive marketplace, is ripe for an acquisition as soon as the end of next month, according to a new research note from the global financial services firm BTIG.
"Based on our inbound call volume, we believe many investors are wondering if TRUE is now an acquisition target," wrote analyst Marvin Fong.