The North American International Auto Show has been canceled for 2021.

What Happened: The annual event held in Detroit will not occur in 2021, marking the second straight year it's been canceled. 

A new event called Motor Bella will serve as a bridge to the future Sept. 21-26. 

The Motor Bella will be held outdoors at the M1 Concourse venue in Pontiac, Michigan, and feature 1.6 million square feet of vehicle and display space. The event will also include a 1.5-mile hot track that can be used for vehicle demonstrations.

Related Link: General Motors Unveils New Logo Amid Electric Vehicle Marketing Campaign

Why It’s important: The annual event is a place for automotive companies to show off new products. The 2019 North American International Auto Show saw General Motors Company (NYSE: GM) show off an all-electric Cadillac SUV.

Ford Motor Company (NYSE: F) announced plans to invest $11 billion in electric vehicles at the 2019 event.

The key here could be luring additional automotive companies to the event given the outdoor space and vehicle demo space.

Tesla Inc (NASDAQ: TSLA) was absent from the 2019 event, as were the German OEMs like Audi, BMW and Mercedes Benz.