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City simulator wins VC backing as investors seek driverless car exposure

LONDON (Reuters) – Venture capital investors backed Immense Simulations, a British software company which creates interactive replicas of cities, on Tuesday in the latest sign of money pouring into firms that stand to gain from driverless vehicles becoming more mainstream. Immense Simulations raised $4.6 million in its Series A funding round co-led by British venture capital firm… Continue reading City simulator wins VC backing as investors seek driverless car exposure

Ford recalls 270,000 Fusion cars to fix glitch that can cause vehicles to shift gears and roll away

Ford Motor Co. Fusion vehicles move down the production line at the Flat Rock Assembly Plant in Flat Rock, Michigan.Jeff Kowalsky | Bloomberg | Getty ImagesFord Motor said Wednesday that it is recalling more than 270,000 Fusion vehicles in North America to fix a transmission glitch that can cause the car to shift gears and roll away.
The recall is for 2013-16 Fusion vehicles with 2.5-liter engines that were built at the automaker's Flat Rock, Michigan, and Hermosillo, Mexico, assembly plants.
The company said the bushing that attaches the shifter cable to the vehicle's transmission may detach, which can result in “unintended vehicle movement.” Ford said it is aware of three reports of property damage due to the issue and one injury “potentially” related to the problem.
VIDEO2:2802:28Ford on the road to nowhereTrading NationAbout 260,000 of the cars were recalled in the United States. More than 10,000 and 3,000 vehicles were also recalled in Canada and Mexico, respectively.
Ford also recalled about 3,000 2019 Ranger pickup trucks in the United States and Canada that were built at the company's Wayne, Michigan, assembly plant. The automaker cited another transmission issue for the Ranger recalls, saying that the transmission shift cable bracket in affected vehicles may not have been torqued correctly and can eventually come lose.
This can cause the vehicle to shift into a different gear than the one selected by the driver, which can lead to the pickup truck rolling away and “increasing the risk of crash or injury.”
The company said it has not received any incident reports regarding the faulty Ranger vehicles.
Read Ford's full statement here.
WATCH: Ford has a new robot to deliver parts to factory workers
VIDEO1:0301:03Ford has a new robot to deliver parts to factory workersThe Bottom Line

Milestone: 10 million flying hours in nearly 5 million flights for the ultra-reliable long distance business aircraft engine – the Rolls-Royce Tay 611-8

LONDON, 17-Apr-2019 — /EuropaWire/ — Rolls-Royce has just announced its Tay 611-8 engine has recently reached to 10 million flying hours milestone in after having had nearly 5 million flights. The engine was originally launched in 1987 and is powering range of Gulfstream’s large-cabin business aircraft as the Gulfstream GIV, GIV-SP, G300 and G400. Outstanding dependability, efficiency and low noise generation have earned a great reputation for the Rolls-Royce’s Tay 611-8 engine.

Tay 611-8’s incredible performance helped Gulfstream GIV to revolutionise the business aviation market with its high cruising speed and the 4,300 nautical miles intercontinental range.

The Tay 611-8 engine has broken many records for speed and range over the past 30 years. Stepping on these achievements the Tay 611-8C engine, Tay 611-8 successor, is today powering the Gulfstream G350 and G450.

As of today, there are more than 1,700 Tay 611-8 and Tay 611-8C engines in service. Rolls-Royce’s market leading CorporateCare® supports many of them.

The deal for the first ever Tay order contract, made by then the company’s Managing Director Sir Ralph Robins and Gulfstream’s founder Allen Paulson is part of the aviation history. Officially signed in March 1983, the story goes that in December 1982 the basic details such as engine price, quantity, payment terms, etc., have been written on a napkin in less than 10 minutes by Sir Ralph Robins.

Commenting on the 10 million flying hours milestone, Dirk Geisinger, Director Business Aviation, Rolls-Royce, said:

“Reaching 10 million flying hours is an impressive milestone and we are very proud of this achievement. With its legendary reliability the Tay 611-8 became the benchmark for ultra-reliable long distance business aircraft and perfectly illustrates why Rolls-Royce is the leading engine manufacturer in Business Aviation. The Tay family with its proven performance has been very successful for us and has propelled our market leadership in this sector. Combining this engine with our latest aftermarket programme CorporateCare Enhanced raises the bar for the whole industry by introducing uncapped troubleshooting, coverage for mobile repair team travel costs and nacelle coverage on later engine models.”

Geisinger added further:

“CorporateCare Enhanced provides our customers with a global support infrastructure which includes Engine Health Monitoring, a worldwide network of Authorised Service Centres and globally distributed spare parts and engines, all managed by our dedicated 24/7 Business Aircraft Availability Centre. Our customers benefit directly from this investment in proactive care, an in most cases are prevented from missing a planned trip.”

SOURCE: Rolls-Royce

MORE ON ROLLS-ROYCE, GULFSTREAM, BUSINESS AIRCRAFT, TAY 611-8 ENGINE, ETC.:
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Chinese concrete machinery manufacturer Zoomlion orders 170 vehicles for truck mounted pumps from Scania

SÖDERTÄLJE, Sweden, 16-May-2019 — /EuropaWire/ — Leading Chinese concrete machinery and sanitation equipment manufacturer, Zoomlion Concrete Machinery, has announced it ordered further 170 vehicles for truck mounted pumps from Scania. This order follows the 350 vehicles delivered earlier in 2019.

The current order, in particular, is for 150 Scania P 450 8×4 trucks, for 56-metre pumps, and 20 Scania P 450 10×4 trucks for 62–67-metre pumps.

The collaboration between Zoomlion and Scania goes back more than ten years, according to Alexander Vlaskamp, Head of Trucks at Scania. Commenting on the new vehicles order, he said:

“We have a long-standing collaboration with Zoomlion, the world-leading manufacturer of concrete machinery, dating back more than ten years. It is certainly gratifying that our products are meeting the high standards demanded by Zoomlion.”

More than 3,300 vehicles have so far been delivered by Scania to the Chinese manufacturer since 2007 with the peak in the deliveries achieved during 2012 – 1,350 vehicles.

Zoomlion Heavy Industry Science and Technology Co is one of the world’s largest construction machinery companies producing machinery and equipment for agricultural, construction, energy, environmental and transport applications. The company is based in Changsha (Zoomlion Science Park), Hunan Province, China. The company is the world’s sixth largest and China’s largest construction machinery structure.

Media contacts:
Torsten Linder
Senior Area Manager
Tel: +46 8 553 51 006
Email: torsten.linder@scania.com

SOURCE: Scania

MORE ON SCANIA, MACHINERY, TRUCKS, ETC.:
Scania to contribute to a new research centre at the Stockholm School of Economics (SSE)Scania's production unit in Zwolle will install the largest solar roof in the NetherlandsCommissioner Vestager: the trucks cartel fined a total of €3.8 billion – a record fine for a cartel in the EU's 60 year historyDr. Christian Vollmer of SEAT: the duo trailer has the capacity to reduce by 50% the number of trucks on the roadTransport operator Citram Aquitaine runs ED95-driven Scania’s Interlink LD Euro 6 on bioethanol produced from grape marcEuropean Commission fines Scania for breaking EU antitrust rulesWest African Transport Academy (WATA): First heavy vehicle service technicians graduate in GhanaSEAT and Grupo Sesé carried out a pilot test of the largest and most efficient freight delivery truck now driving on motorways in EuropeScania to invest SEK 1.5 billion in a new foundry in Södertälje, Sweden in order to triple production capacityScania to deliver modern and sustainable transport solutions to the Nigerian city of LagosScania Top Team World Final: the team from New Zealand finished in first place and received the prize of EUR 50,000

One of the largest European telematics providers joins Michelin Group

Clermont-Ferrand, France, 17-May-2019 — /EuropaWire/ — Michelin signed an agreement to acquire the entire share capital of Masternaut, one of the largest European telematics providers. The acquisition is in line with the Group’s development strategy in the Services & Solutions business and leveraging the experience it has gained following the Sascar and NexTraq acquisitions in America.

Masternaut provides a technical platform equipped with the latest technology. The company offers on-board telematics solutions to optimize vehicle fleet management and monitoring. Masternaut manages over 220,000 mostly light utility vehicles under contract. It operates mainly in France and the United Kingdom. The transaction has been made on the basis of 8 times 2018 Ebitda before synergies.

The acquisition will speed up the development of Michelin‘s Services & Solutions business for light vehicles and support the booming fleet market. The deal will also enable Masternaut to roll out its offering across the whole of Europe by taking advantage of the Michelin network’s geographical coverage. The acquisition will also increase the volume of data captured, allowing Michelin to offer its customers the best solutions, improve product performance and develop its data science deployments, such as predictive maintenance.

Florent Menegaux, Managing General Partner, comments: “Michelin is consolidating its expertise in telematics, enabling us to optimize customer mobility and respond to the needs of a changing market. Masternaut represents a further step in the expansion of our Services & Solutions business, especially in Europe and for light vehicle fleets.”

SOURCE: MICHELIN

MORE ON MICHELIN, ETC.:
Pascal Couasnon to succeed Alexandre Taisne as Director of the Mobility Experience Business Line at MichelinMichelin’s next MotoGP journey will be to head south over the Equator and travel to Termas de Rio Hondo in ArgentinaMichelin: our latest endurance racing tyres evolved significantly for the FIA WEC’s 2018/2019 ‘Super Saison’Michelin to unveil its latest enduro tyres at 2017 FIM International Six Days of Enduro (ISDE)PTG and Téléflow acquisitions signal Michelin’s intention to become the global leader for CTIS in the agricultural marketBMW Team RLL finishes fourth and ninth in the IMSA WeatherTech SportsCar Championship (IWSC) Michelin GT Challenge at Virginia International Raceway (USA)Gwendal Poullennec named International Director, MICHELIN Guides

GM’s car-sharing service is pulling out of eight cities, including Chicago and NYC

Maven, the car-sharing service owned by General Motors, is ending operations in several major North American cities. According to The Wall Street Journal, the mobility brand will wind down service in eight of the 17 cities in which it operates, including Boston, Chicago, and New York City. Maven will continue to operate in Detroit, Los… Continue reading GM’s car-sharing service is pulling out of eight cities, including Chicago and NYC

Quadric.io raises $15M to build a plug-and-play supercomputer for autonomous systems

Quadric.io, a startup founded by some of the folks behind the once-secretive bitcoin mining operation “21E6,” has raised $15 million in a Series A round that will fund the development of a supercomputer designed for autonomous systems. The round was led by automotive Tier 1 supplier DENSO and its semiconductor products arm NSITEXE, which will also… Continue reading Quadric.io raises $15M to build a plug-and-play supercomputer for autonomous systems

In-car commerce startup Cargo extends Uber partnership to Brazil

Cargo, the startup that brings the convenience store into ride-hailing vehicles, is making its first international expansion through an exclusive partnership with Uber in Brazil. Uber drivers in São Paulo and Rio de Janeiro will now be able to sign up for Cargo and potentially earn additional income by selling products to passengers during their… Continue reading In-car commerce startup Cargo extends Uber partnership to Brazil

Sweden’s Veoneer to raise $500 million for working capital

May 20 (Reuters) – Swedish auto tech company Veoneer said on Monday it intends to raise cash for working capital through an offering of its common stock and convertible senior notes. The company plans concurrent offerings of $350 million of shares of common stock and $150 million aggregate principal amount of convertible senior notes due… Continue reading Sweden’s Veoneer to raise $500 million for working capital

SKF Confirms Closure of Stonehouse Factory

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