Category: Newswire

Porsche invests 2 mln USD in Israeli AI tech to improve visibility in poor weather

JERUSALEM, Aug. 21 (Xinhua) — German luxury auto manufacturer Porsche has invested 2 million U.S. dollars in the Israeli startup TriEye, which has developed visibility enhancement technology in harsh weather conditions, the two companies said on Wednesday.
TriEye, founded in 2017 and headquartered in the coastal city of Tel Aviv, has developed an artificial intelligence (AI) sensor technology for short-wave infrared (SWIR).
It enhances safety in vehicles fitted with assistance systems or autonomous driving functions by improving the ability to see in weather conditions where visibility is poor, such as rain, fog, dust or murky conditions.
The Israeli company's unique semi-conductor design uses patent-pending technology that makes it possible to manufacture SWIR HD cameras at a fraction of their current cost. These SWIR cameras are expected to reach the market by 2020.
The Israeli solution is based on nearly a decade of advanced nanophotonics research, performed by Uriel Levy, Tri..

Mercedes-Benz Korea expands logistics center

Mercedes-Benz Korea, a local importer and distributor of German luxury cars, has expanded its logistics center in Anseong, Gyeonggi Province, 150 kilometers south of Seoul, the company said Wednesday.Participants attend a ceremony marking the new logistics center for Mercedes-Benz Korea.An automated forklift truck moves parts to an 11.5-meter-high storage shelf in a very narrow aisle.

FAW-Volkswagen opens new proving ground in Northeast China

Sino-German joint venture FAW-Volkswagen has put its new proving ground into use in the north of Changchun, capital of Northeast China’s Jilin province.With an investment of more than 1.7 billion yuan ($240.6 million), the first-stage project of the proving ground covers 6 square kilometers.The proving ground has five functional areas for durability, airbag effectiveness, highspeed loop, dynamic and performance testing.

Audi, Volkswagen, Porsche caught rigging emissions again

By Nam Hyun-woo Audi Volkswagen Korea and Porsche Korea will face criminal charges and hefty fines as the companies were found to have engaged in emission rigging involving their eight top selling models.AdBlue is an exhaust fluid comprised of urea and water that is injected into the car’s exhaust system to reduce the amount of nitrogen oxide emissions.The ministry’s move is expected to deal an additional blow to Audi Volkswagen Korea’s sales.

Hyundai Motor invests 78 bln won on foreign startups in H1

Hyundai Motor Co., South Korea’s leading automaker, said Tuesday it invested 78 billion won (US$64 million) in overseas startups with future vehicle technologies in the first six months of the year.The six companies are the Israeli voice search platform Audioburst, the U.S. robot startup Realtime Robotics, the U.S. autonomous driving startup Aurora Innovation Inc., the Chinese startup DeepGlint with facial recognition technology, Hong Kong’s action camera firm Funshare and French digital olfactory startup Aryballe Technologies.

China’s iconic Hongqi starts selling first electric vehicle

CHANGCHUN, Aug. 19 (Xinhua) — China's automaker FAW Group on Sunday began selling the first electric model of its iconic Hongqi brand to get a slice of the country's booming new energy vehicle market.
The Hongqi E-HS3, a pure electric sport utility vehicle model, is priced between 225,800 yuan (around 32,000 U.S. dollars) to 265,800 yuan, said the carmaker.
The new model has a range of up to 407 km under the New European Driving Cycle, and it takes only around 15 minutes to charge from 30 percent to 80 percent.
The first car of Hongqi, or Red Flag, was made in 1958. It is one of China's iconic sedan brands and its vehicles have been used for parades at national celebrations.
The company has been actively exploring the private car market in recent years to reverse lackluster sales due partly to the lack of new models and shops.
In the first half of this year, more than 33,000 Hongqi vehicles were sold, up 255 percent year on year and outnumbering the total sales of 2018…

Online used car platform “heycar” expands internationally

Online used car platform “heycar” expands internationally

BRAUNSCHWEIG, 15-Aug-2019 — /EuropaWire/ — Successful online used car marketplace “heycar” expands internationally into the United Kingdom. Providing high-quality used vehicles with warranty to used car buyers in England, Wales, Scotland and Northern Ireland at www.heycar.co.uk. The heycar brand operates under Mobility Trader UK Ltd. in the United Kingdom. Mobility Trader UK is a wholly-owned subsidiary of Mobility Trader Holding GmbH and is a sister company of the German Mobility Trader GmbH. Mobility Trader Holding GmbH’s shareholders are Volkswagen Financial Services AG with 80 percent of the shares and Daimler Mobility AG with 20 percent.

Frank Fiedler, CFO of Volkswagen Financial Services AG, comments: “We are pleased that heycar has now taken the first step towards an international expansion. Following the positive reception of heycar in Germany, we now want to serve dealers and customers in the United Kingdom just as successfully and thus further expand our used car business.”

heycar brings greater transparency and trust to the used car market in the UK. Through partnerships with trusted dealers, all major automotive brands are available in heycar. All vehicles offered at heycar are less than eight years old and have done less than 100,000 miles and come with a warranty. Being the second largest used car market in Europe, United Kingdom benefits from heycar’s simpler solution to search for and find their used car, complete with a finance quote, in a seamless online journey.

Mat Moakes CEO of Mobility Trader UK Ltd, added: “The UK used car market, the second largest in Europe after Germany, works inefficiently for buyers and dealers. heycar will disrupt this industry through a simple, tech-led proposition and will take market share from the incumbents to become the number one site for high quality used cars in the UK.”

heycar starts in the UK with over 100,000 used cars from nearly 50 brands and as the company expands partnerships with dealer groups across the UK, it will continue to add more vehicles to its platform.

heycar was launched in Germany in October 2017. Currently, around 400,000 vehicles from different brands are available on the platform.

Information for editors

Volkswagen Financial Services key business fields embrace dealer and customer financing, leasing, the bank and insurance business, fleet management and mobility offers. Volkswagen Financial Services have a total of 16,267 employees worldwide – including 7,010 alone in Germany. Volkswagen Financial Services report total assets of around EUR 207.6 billion, an operating result of EUR 2.6 billion euros and a portfolio of around 20.3 million current contracts (as at: 31.12.2018). Volkswagen Financial Services is a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of the financial services of the Scania brand and Porsche Holding Salzburg.

For press information:

Marc Siedler (Press spokesman)
Phone: + 49 (0)531 / 212-87675
E-Mail: marc.siedler@vwfs.com
www.vwfs.com

SOURCE: Volkswagen Financial Services

MORE ON VOLKSWAGEN FINANCIAL SERVICES, CAR SALES, ETC.:
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