Category: News Site

Prophesee Raises $28M in Funding

Prophesee SA (formerly Chronocam), a Paris, France-based developer of an advanced neuromorphic vision system, closed a $28m funding round. The round, which brought total funding to date to $68m, was led by the European Investment Bank, with participation from existing investors such as iBionext, 360 Capital Partners, Robert Bosch Venture Capital and Supernova Invest, as… Continue reading Prophesee Raises $28M in Funding

UPDATE 4-GM earnings beat lifts shares but U.S. strike weighs on outlook

DETROIT (Reuters) – General Motors Co on Tuesday slashed its earnings forecast for 2019, saying that a 40-day U.S. labor strike by the United Auto Workers union that brought virtually all of its North American operations to a standstill would cost it around $3 billion in profits this year. FILE PHOTO: The GM logo is… Continue reading UPDATE 4-GM earnings beat lifts shares but U.S. strike weighs on outlook

Buffett-backed BYD warns on 2019 profit as Chinese market contracts

BEIJING (Reuters) – Chinese electric car maker BYD Co Ltd said on Tuesday it expected full-year net profit to fall by as much as 43%, as sales of new energy vehicles in the world’s biggest auto market plunged following a cut in government subsidies. FILE PHOTO – A bus, manufactured by China’s BYD, is seen… Continue reading Buffett-backed BYD warns on 2019 profit as Chinese market contracts

AutoNation profit beats on higher used vehicle sales

The company has been focusing on expanding offerings such as branded car parts and services, and finance and insurance products to boost profitability. AutoNation Inc reported a better-than-expected quarterly profit on Tuesday, as higher demand for used vehicles helped the largest U.S. auto retail chain offset declines in new vehicle sales. The results come three… Continue reading AutoNation profit beats on higher used vehicle sales

Tata Sons stake in Tata Motors to rise to 43.73% post Rs 6,500 cr preferential issue

Tata Motors group has a net debt of Rs 50,000 crore out of which Tata Motors Ltd alone account for Rs 20,000 crore. New Delhi: Tata Sons, the promoter of major operating companies of the Tata Group, will increase its shareholding in Tata Motors to 43.73 per cent after the proposed Rs 6,500 crore preferential… Continue reading Tata Sons stake in Tata Motors to rise to 43.73% post Rs 6,500 cr preferential issue

Electrify America To Make Plug&Charge Fully Operational In 2020

With Plug&Charge, the car itself will become a kind of access card for the charging networks. Electrify America re-confirmed its intention to offer “Plug&Charge” technology in partnership with Hubject, to streamline the charging process through automation of authentication and billing. When the new system will be fully operational in 2020, drivers should be able to… Continue reading Electrify America To Make Plug&Charge Fully Operational In 2020

Hyundai Mobis increases the 5G connected car development synergies

Hyundai Mobis and KT to share the results of technology development and discuss future collaboration at the Seosan Proving Ground Completed the first development project, e.g. update of the map and C-V2X six months after the start of full-scale development in January Planning to build the autonomous driving remote monitoring system using the 5G communication… Continue reading Hyundai Mobis increases the 5G connected car development synergies

Pedestrian detection systems produce mixed results in safety study

(Reuters) – The performance of modern pedestrian detection systems varies widely between carmakers, with high-end luxury brands generally faring better and other models failing to recognize pedestrians altogether, according to a study released on Tuesday by a U.S. insurance research group. FILE PHOTO: Philip Floyd, senior engineering technician for the Insurance Institute for Highway Safety… Continue reading Pedestrian detection systems produce mixed results in safety study

Hyundai Motor replaces head of premium Genesis brand

FILE PHOTO: The logo of Hyundai Genesis is seen on its new model EQ900 at the Hyundai Motor Studio in Seoul, South Korea, January 26, 2016. REUTERS/Kim Hong-Ji SEOUL (Reuters) – Hyundai Motor on Tuesday named its former North American chief, William Lee, to oversee its premium Genesis brand following the departure of Manfred Fitzgerald… Continue reading Hyundai Motor replaces head of premium Genesis brand