Algolux Inc., a Montreal, Canada-based provider of machine-learning stacks for autonomous vision and imaging, closed a USD $10M Series A funding. The round was led by General Motors (GM) Ventures, with participation from Drive Capital, Intact Ventures, and Real Ventures. In conjunction with the funding, Jason Nolte, GM Ventures Investment Manager, and Mark Kvamme, Partner… Continue reading Algolux Raises $10M in Series A-1 Funding
Tag: GM
Aston Martin Says China Spurring Another Horse-to-Cars Moment
China’s policies to cut pollution is driving a rapid move toward electric vehicles in the world’s biggest market and causing an upheaval in the global auto industry, Aston Martin Holdings Ltd. Chief Executive Officer Andy Palmer said. “This whole show is revolving around what they call new energy vehicles, but Chinese policy is very much… Continue reading Aston Martin Says China Spurring Another Horse-to-Cars Moment
Dana Incorporated Announces First-quarter 2018 Financial Results with Significant Revenue Growth, Affirms Full-year Guidance Increase
MAUMEE, Ohio, April 30, 2018 /PRNewswire/ — Highlights Sales of $2.1 billion, an increase of $437 million, growth of 26 percent Net income attributable to Dana of $108 million; diluted EPS of $0.73 Adjusted EBITDA of $248 million, an increase of $43 million providing a margin of 11.6 percent Diluted adjusted EPS of $0.75, an… Continue reading Dana Incorporated Announces First-quarter 2018 Financial Results with Significant Revenue Growth, Affirms Full-year Guidance Increase
GM Recognizes GP Strategies for Performance, Quality, and Innovation
COLUMBIA, Md., April 30, 2018 /PRNewswire/ — GP Strategies Corporation (NYSE: GPX) was named a GM Supplier of the Year by General Motors during its 26th annual Supplier of the Year awards ceremony held Friday, April 20 in Orlando, Florida. GM recognized 132 of its best suppliers from 17 countries who have consistently exceeded GM’s expectations,… Continue reading GM Recognizes GP Strategies for Performance, Quality, and Innovation
Q1 2018 revenue sharp growth
• Consolidated worldwide sales up 44.2% including Opel Vauxhall (OV) with over 1 million vehicles sold1 ;• Groupe PSA revenue up 42.1% at €18.2 billion2 ;• Peugeot Citroën DS (PCD) Automotive division revenue up 13.3% : Strong market share increase in Europe (+0.7 pt)3 ; Successful launches of new models in all regions.• OV Automotive division revenue amounted to €4.8 billion… Continue reading Q1 2018 revenue sharp growth
Top Automotive Industry News for Week of April 23 – April 29, 2018
Here is the most important news associated with the automotive industry identified by the AEA for the week April 23, 2018 – April 29, 2018. We hope it helps you stay up to speed on the key developments in our industry: -Automotive Manufacturing News- 6 Reasons Ford CEO Jim Hackett Decided To Deep-Six Its Sedans… Continue reading Top Automotive Industry News for Week of April 23 – April 29, 2018
Opel: the works council blocks candidates at departure
Things do not work out in Germany for Opel. Fearing a haemorrhage in the workforce, the works council of the new division of PSA has simply decided to block candidates for various plans for voluntary departures in progress. More than 200 cases – most of them from Russelsheim, Kaiserslautern or Eisenach plants – are currently… Continue reading Opel: the works council blocks candidates at departure
After death of Ford Taurus, Fusion, Fiesta, will Ford fans buy a Chevy?
CLOSE Ford Motor Company announced that it will discontinue the Fiesta subcompact car, the Fusion mid-size sedan and the Taurus full-size car in the U.S. USA TODAY A 2012 Ford Taurus. (Photo: FORD) Ford families drive Fords. Chevrolet families drive Chevys. And they often refuse to switch. Ford’s decision to cut nearly its entire car… Continue reading After death of Ford Taurus, Fusion, Fiesta, will Ford fans buy a Chevy?
Opel works council blocks severance program
The voluntary severance package at Opel is apparently well received. The works council sees the future of the automaker endangered – and provisionally denies its approval. Opel plant in Kaiserslautern (archive) Friday, 27.04.2018 14:05 clock at Opel the dispute over the voluntary redundancy program is escalating. The works council provisionally refuses to approve current contracts.… Continue reading Opel works council blocks severance program
Vauxhall Corsa diesel axed due to low demand
The Vauxhall Corsa will no longer be offered with a diesel engine because the variant represented just 2.5% of the model’s sales. Corsas powered by the 1.3 CDTi engine were particularly unpopular with retail buyers, who account for the majority of the hatchback’s customers. In 2017, just 0.5% of Corsa retail purchases were of the diesel. This fits… Continue reading Vauxhall Corsa diesel axed due to low demand