Source: AuroraFiat Chrysler is joining forces with Silicon Valley-based technology upstart Aurora to build driverless cars.
The two companies said Monday they had signed an agreement that lays the groundwork for a “powerful partnership in self-driving commercial vehicles.”
The deal will enable Aurora to expand the scope of its self-driving software, the firm said, “allowing us to offer a variety of solutions to strategic customers in logistics, transit, and other use cases.”
Financial terms of the deal were not disclosed.
The news comes just under a week after the Italian-American automaker dropped its merger offer for French rival Renault.
The deal could have helped the two align their strategy on innovations like electric and self-driving cars, a space that has become a central battleground for major carmakers worldwide.
“As part of FCA's autonomous vehicle strategy we will continue to work with strategic partners in this space to address the needs of consumers in a rapidly changing industry,” Fiat Chrysler CEO Mike Manley said in a statement Monday.
“Aurora brings a unique skillset combined with advanced and purposeful technology that complements and enhances our philosophy on self-driving.”
Aurora is already partnered with household names in the industry like Volkswagen and Hyundai. The firm boasts talent from founders who all previously worked at tech giants including Alphabet, Tesla and Uber.
The Palo Alto, California-based company raised $530 million earlier this year, in a round that was backed by leading venture capital firm Sequoia and e-commerce titan Amazon.
The race toward full self-driving capability has become a heated one, with tech firms and automakers alike looking to make waves in the field.
Just last week, it was reported that Apple was looking to buy driverless shuttle service Drive.ai. The firm's autonomous driving division, known as Project Titan, underwent a big restructuring earlier this year, laying off over 200 employees.
Category: News Site
France has a strategy for Renault-Nissan alliance, finance minister says
France's Bruno Le Maire.Eric Peirmont | AFP | Getty ImagesFrench Finance and Economy Minister Bruno Le Maire has said the country has a strategy to reinforce a fragile alliance between Renault and Nissan.
“What is at the heart of this strategy is the reinforcement of the alliance between Renault and Nissan” Le Maire told CNBC on Sunday.
“Then we will see if consolidation is possible. We are all aware that there is a necessity for consolidation in the automotive industry and the proposal of a merger between Fiat and Renault was a very interesting one but as a second step – the first step must be the reinforcement of alliance between Renault and Nissan,” he told CNBC's Nancy Hungerford.
Le Maire's comments come days after Fiat Chrysler pulled back from a $35 billion merger offer for Renault, citing “political conditions in France” as a reason for its withdrawal.
Speaking to CNBC last week when the deal collapsed, people close to the negotiations described what they saw as meddling by the French government as one of the reasons for the merger's failure.
VIDEO2:1902:19France wants to 'reinforce' Renault-Nissan alliance, Bruno Le Maire saysSquawk Box AsiaRenault's long-standing but strained relationship with Nissan and partner Mitsubishi is also believed to have been an issue. Relations between Renault and Japanese carmaker Nissan have been tense following the arrest of the former Renault-Nissan-Mitsubishi Alliance chief Carlos Ghosn last November on financial misconduct charges. He denies the charges and is awaiting trial.
Le Maire was speaking to CNBC in Fukuoka, Japan, where he had attended a meeting of G-20 finance ministers, but said he had no plans to meet with Nissan management while in Japan, saying it was the responsibility of Renault's management to “pave the way for the reinforcement of the links between Renault and Nissan.”
The French state currently holds a 15% stake in the carmaker but the minister did not rule out the French state paring down its interest in Renault. He said the first step was for the carmaker to bolster its alliance with Nissan and to then explore a possible merger, and only then would the government consider reducing its stake in the company.
Ultima RS Debuts With Up To 1,200 HP Of Track Conquering Power – Motor1 UK
10 June 2019 at 11:00 By: Chris Bruce You can load the cabin with amenities like air conditioning, rearview camera, and parking sensors. The Ultima RS is the new range-topping model from the boutique British automaker best known for the Ultima GTR. It debuts at the Goodwood Festival of Speed, but interested buyers can pre-order one… Continue reading Ultima RS Debuts With Up To 1,200 HP Of Track Conquering Power – Motor1 UK
Caffyns appoints Stephen Bellamy as non-executive director
Caffyns has appointed Stephen Bellamy as a new independent non-executive director and chairman of the board’s Remuneration Committee. Bellamy, who will also be a member of the AM100 PLC’s Audit Committee and Nominations Committee, will join Caffyns on June 18 and replaces Nick Hollingworth. Hollingworth served 11 years as a non-executive direct oar Caffyns and… Continue reading Caffyns appoints Stephen Bellamy as non-executive director
Fiat Chrysler partners with Aurora to develop self-driving commercial vans
Aurora, the autonomous vehicle technology startup backed by Sequoia Capital and Amazon, has struck a deal with Fiat Chrysler Automobiles to develop self-driving commercial vehicles. The partnership will focus on integrating Aurora’s technology into FCA’s line of Ram Truck commercial vehicles, a portfolio that includes cargo vans and trucks. The deal could extend to FCA’s… Continue reading Fiat Chrysler partners with Aurora to develop self-driving commercial vans
Aurora and FCA US to collaborate on self-driving commercial vehicle platforms
Aurora and FCA US to collaborate on self-driving commercial vehicle platforms Aurora TeamBlockedUnblockFollowFollowing Jun 9 Automakers are an important partner to Aurora as we develop the Aurora Driver and the products and services it will power. Our work with them focuses on preparing their vehicles with the interfaces the Aurora Driver requires to safely operate… Continue reading Aurora and FCA US to collaborate on self-driving commercial vehicle platforms
Exclusive: FCA-Renault revival may hinge on Nissan stake cut – sources
PARIS (Reuters) – Fiat Chrysler Automobiles NV and Renault SA are looking for ways to resuscitate their collapsed merger plan and secure the approval of the French carmaker’s alliance partner Nissan Motor Co Ltd , according to several sources close to the companies. FILE PHOTO: The logos of Renault and Fiat carmakers are seen in… Continue reading Exclusive: FCA-Renault revival may hinge on Nissan stake cut – sources
Taxi Aggregators To Be Required To Go Electric In India?
The idea is to go electric, but India still needs to figure out how to overcome major obstacles. According to the latest news, exclusively by Reuters, India intends to set electrification requirements on taxi aggregators like Uber and Ola. If the new rules are introduced, fleets would need to gradually switch to electric cars (40%… Continue reading Taxi Aggregators To Be Required To Go Electric In India?
First BYTON M-Byte Body-In-White Rolls Out Of The Body Shop
BYTON M-Byte is one of the latest Chinese premium all-electric cars, which soon will hit the market Earlier this month BYTON boasted that the first M-Byte body-in-white successfully rolled out of the body shop of its brand new production plant in Nanjing, China. Mark, SVP of Manufacturing Operations said: “The success of this trial confirms… Continue reading First BYTON M-Byte Body-In-White Rolls Out Of The Body Shop
First V3 Tesla Superchargers Now Publicly Available At Tesla Factory
Tesla V3 Superchargers are finally starting to pop out. Eight 250 kW stalls were recently launched in Fremont at the Tesla Factory. Tesla recently opened its first V3 Supercharging station to the public at its Fremont factory with eight 250 kW stalls. It’s the second known V3 station after the one at Tesla HQ in… Continue reading First V3 Tesla Superchargers Now Publicly Available At Tesla Factory