Category: Automotive

Innoviz Technologies’ Series C Funding Round Closes at $170M, Strengthens the Company’s Leadership Position in the Solid-State LiDAR and Perception Software Space

This funding will support several key initiatives, including the enhancement of Innoviz’s perception software. Innoviz’s perception software remains a significant differentiator for the company by providing vehicles with a deep understanding of the 3D driving scene, including superior object detection (with up to 50 times greater efficiency than industry and academic standards), classification, segmentation and… Continue reading Innoviz Technologies’ Series C Funding Round Closes at $170M, Strengthens the Company’s Leadership Position in the Solid-State LiDAR and Perception Software Space

Aiways invests in carmaker to guarantee production

Chinese new energy vehicle startup Aiways is set to acquire part of Jiangling Holdings’ equity in exchange for investing 1.75 billion yuan ($252.65 million).New Energy startups Nio and Xpeng chose to cooperate with conventional automakers to produce vehicles.The two companies have built a production plant to manufacture the electric sport utility vehicle, Nio ES8.

Hyundai Mobis to launch an ‘Open Innovation Center’ in silicon valley

Hyundai Mobis is launching its first open innovation center, ‘M.Cube’ in Silicon Valley of the US to make a full-fledged commitment to source and invest in startups possessing new technologies for future vehicles such as self-driving. Hyundai Mobis will use M.Cube as its core base to discover and invest in startups with strong growth potential in… Continue reading Hyundai Mobis to launch an ‘Open Innovation Center’ in silicon valley

Nissan CEO got higher stock-linked bonus after payout date changed, former director Kelly says

TOKYO (Reuters) – Nissan Motor Co Ltd Chief Executive Hiroto Saikawa was granted an exception in 2013 to reschedule a stock-linked bonus that bumped up the payout by 47 million yen ($432,382), former Representative Director Greg Kelly told magazine Bungei Shunju. FILE PHOTO: Nissan President and Chief Executive Officer Hiroto Saikawa attends a news conference… Continue reading Nissan CEO got higher stock-linked bonus after payout date changed, former director Kelly says

Ineos considering hydrogen version of Projekt Grenadier 4×4 – Autocar

The Projekt Grenadier 4×4, the heavy-duty off-roader by British firm Ineos, is being planned with a potential hydrogen fuel cell version. An engineering study is scheduled to be started shortly to “assess the feasibility and production of a hydrogen fuel cell-powered 4×4” according to documents seen by Autocar. The description is included in a list of… Continue reading Ineos considering hydrogen version of Projekt Grenadier 4×4 – Autocar

Renault rift with Nissan widens over governance, casts shadow on alliance

TOKYO/PARIS (Reuters) – The two-decade-old partnership of Renault SA and Nissan Motor Co was plunged into fresh crisis on Monday, as the French automaker’s demand for a greater say in Nissan’s new governance system drew rare public censure by the Japanese firm. FILE PHOTO: The logos of car manufacturers Renault and Nissan are seen in… Continue reading Renault rift with Nissan widens over governance, casts shadow on alliance

Fiat Chrysler teams up with Amazon-backed driverless car start-up Aurora

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.