SUNNYVALE, Calif.–(BUSINESS WIRE)–Quanergy Systems, Inc., a leading provider of LiDAR (Light Detection and Ranging) sensors and smart sensing solutions, today announced that, based on certification body audits, it has reached compliance with the automotive standard IATF 16949:2016 and the required automotive core tools and product standards. With this compliance, Quanergy has shown its readiness to… Continue reading Quanergy Achieves Compliance with Important Automotive Standards
Tag: Autonomous
Maserati to use BMW self-driving technology, Fiat chairman says
It also has autonomous vehicle development partnerships with Alphabet’s Waymo and auto supplier Aptiv.Luxury sports-car brand Maserati, which saw its sales plunge 32 per cent in the first three months of the year, has been struggling with a lack of new product and a sharp drop in demand from China.
Bird’s-AI View: Harnessing Drones to Improve Traffic Flow
Traffic. It’s one of the most commonly cited frustrations across the globe. It consumed nearly 180 hours of productive time for the average U.K. driver last year. German drivers lost an average of 120 hours. U.S. drivers lost nearly 100 hours. Because time is too precious to waste, RCE Systems — a Brno, Czech Republic-based… Continue reading Bird’s-AI View: Harnessing Drones to Improve Traffic Flow
Lotus considering GT, saloon, crossover and SUV projects
Lotus could build GTs, sports saloons, crossovers or SUVs in future, according to new boss Phil Popham – but only after it has re-established its credentials as a sports car firm. Earlier this year, Lotus revealed plans for an electric hypercar, codenamed Type 130, as well as indicating it was preparing to launch a new… Continue reading Lotus considering GT, saloon, crossover and SUV projects
Leading Global Automotive Supplier Aisin Invests in AEye through Pegasus Tech Ventures
“AEye is a breakthrough automotive technology startup with a world-class management and technical team. Their AI-based perception solution, iDAR, is a superior technology, rendering the other LiDAR approaches obsolete and creating what we believe is a new standard for ADAS and autonomous solutions in the Japanese market and beyond.”
Pleasanton, CA – May 14, 2019 – AEye, a world leader in artificial perception systems and the developer of iDAR™, today announced a strategic investment from Japanese components and systems manufacturer Aisin through their corporate venture capital fund managed by Pegasus Tech Ventures. Aisin is ranked the sixth largest Tier 1 OEM parts supplier globally, and a premier developer of information and communications technology and electronics for the automotive market. Aisin’s investment paves the way for collaboration and expansion as the companies scale to meet the demands of OEMs deploying ADAS and mobility solutions.
“AEye is a breakthrough automotive technology startup with a world-class management and technical team,” said Anis Uzzaman, General Partner & CEO at Pegasus Tech Ventures. “Their AI-based perception solution, iDAR, is a superior technology, rendering the other LiDAR approaches obsolete and creating what we believe is a new standard for ADAS and autonomous solutions in the Japanese market and beyond.”
“We are delighted that Aisin and Pegasus Tech Ventures have joined as partners and as investors,” said Blair LaCorte, president of AEye. “The addition of Aisin as an investor, makes AEye uniquely positioned as the only LiDAR company to have both multiple OEMs and multiple Tier 1s as investors. This validation from automotive companies that are seeking to deploy solutions in the mobility and ADAS markets is a great honor and responsibility.”
Pegasus Tech Ventures, as the manager of Aisin’s corporate venture capital fund, has its global headquarters in Silicon Valley and invests in promising technology companies that align with Aisin’s mission to respond swiftly to the increasingly sophisticated and diverse needs of OEM customers with best-in-class products.
AEye’s iDAR combines software extensibility, artificial intelligence and smart, agile sensors to deliver intelligent data collection at the sensor level. The company’s AE110 product features the industry’s only software-definable LiDAR, creating an open platform for perception innovation that lets software engineers optimize data collection to best meet their needs. The AE200 system is designed to address the needs of modular, high-performance sensors, and is optimized for size, weight, power, and cost. Both will be available commercially during the second half of this year.
About AEye
AEye is an artificial perception pioneer and creator of iDAR™, a perception system that acts as the eyes and visual cortex of autonomous vehicles. Since its demonstration of its solid-state LiDAR scanner in 2013, AEye has pioneered breakthroughs in intelligent sensing. The company is based in the San Francisco Bay Area, and backed by world-renowned investors including Kleiner Perkins Caufield & Byers, Taiwania Capital, Hella Ventures, LG Electronics, Subaru-SBI, Aisin/Pegasus Tech Ventures, Intel Capital, Airbus Ventures, and others.
About Pegasus Tech Ventures
Pegasus Tech Ventures is a global venture capital firm based in Silicon Valley. Pegasus manages over 20 parallel investment funds for its corporate limited partners, which include some of the largest multinational technology companies. With eight offices around the world, Pegasus invests in emerging technology companies of strategic interest to its limited partners and facilitates connections between its portfolio companies and its global corporate partners to accelerate the growth and competitiveness of both portfolio companies and corporate partners.
Media Contact:
AEye, Inc.
Jennifer Deitsch
[email protected]
925-400-4366
Media Contact:
AEye, Inc.
Jennifer Deitsch
[email protected]
925-400-4366
Leading Global Automotive Supplier Aisin Invests in AEye through Pegasus Tech Ventures — AEye’s iDAR Shatters Both Range and Scan Rate Performance Records for Automotive Grade LiDARLG Electronics and AEye Announce Strategic Partnership to Address Sensing and Perception Needs of ADAS MarketDeconstructing Two Conventional LiDAR MetricsAEye’s $40M Series B Includes Numerous Automotive Leaders Including Subaru, Hella, LG, and SKThe Future of Autonomous Vehicles: Part I – Think Like a Robot, Perceive Like a HumanHella and AEye Extend Strategic Partnership to Deliver Sensing and Perception Solutions for ADAS and Autonomous DrivingBlair LaCorte Named President of AEyeAEye Introduces Advanced Mobility Product for the Autonomous Vehicle MarketAEye Announces Industry Leading Family of Perception Sensors for ADAS SolutionsAEye Extends Patent Portfolio, Creating Industry’s Most Comprehensive Library of Solid-State Lidar Intellectual Property
AEye Expands Business Development and Customer Success Team to Support Growing Network of Global Partners and Customers
“I am very excited to join such an experienced and focused team. There is real value in leveraging the unique software-definable features of the iDAR platform to markets that require intelligent robotic vision, and I look forward to leading that charge.”
Pleasanton, CA – May 14, 2019 – Artificial perception pioneer AEye today announced the expansion of its business development team to address the global market opportunity AEye’s iDAR™ system. The company has hired BD directors in the Americas, Europe, and Japan to support the growing network of AEye automotive partners and customers worldwide. In addition, AEye announced that former Quanergy executive Akram Benmbarek has joined AEye as VP of strategic initiatives.
Meeting Global Market Demand
AEye’s new global team of BD directors will provide in-region, full lifecycle support for the company’s OEM and tier 1 partners deploying ADAS and autonomous vehicle systems in the U.S., Europe and Asia.
In the Americas, AEye has hired Ashika Schroll. Previously the senior manager of technology and business development for automotive programs at Flex (formerly Flextronics), Ashika worked with automotive OEMs, startups and Tier 1s to enable autonomous, connectivity, electrification and smart technologies. She holds a BS in Electrical Engineering and an MBA from Northwestern.
Peter Szelei will oversee AEye’s European business from Berlin. Previously, he managed business development, as well as led the global automotive business team at navigation solution provider NNG, where he worked closely with OEMs and Tier 1s to create best-in-class solutions. He holds a masters in Management and Entrepreneurship, as well as Management and Leadership.
In Asia, Itohru Iwama will be focused on Japan. He comes to AEye from Denso, where he was a business development manager. Iwama is a veteran tech and automotive executive with 20+ years of product/project management experience in automotive, electronics and software. He holds a BA in Foreign Studies and an MS in Management, and is fluent in Japanese, Chinese, German and English.
“Our unique opportunity to define the market has attracted an exceptional group of professionals who know the automotive industry, are excited about the technology, and have a proven track-record in helping Tier 1s and OEMs integrate leading-edge technologies into their products,” said Jim Robnett, AEye’s VP of automotive business development.
Extending into New Markets
In response to market demand and to facilitate commercialization of AEye’s iDAR technology into markets beyond automotive, AEye also announced today that former Quanergy executive Akram Benmbarek has joined the executive team as VP of strategic initiatives. Benmbarek is responsible for responding to growing demand for AEye’s iDAR platform in industries ranging from transportation automation to industrial automation, IoT and mapping.
Benmbarek comes to AEye from Quanergy, where he was charged with growing the company’s application of LiDAR across non-automotive verticals, including robotics, IoT smart spaces and security. Prior to Quanergy, Akram spent 16 years in Silicon Valley as both an entrepreneur and investment banker. He has a BA in Applied Economics, and an MBA from USC.
“I am very excited to join such an experienced and focused team,” said Benmbarek. “There is real value in leveraging the unique software definable features of the iDAR platform to markets that require intelligent robotic vision, and I look forward to leading that charge.”
“While our near-term priorities are automotive ADAS and mobility, we have seen increasing interest in our iDAR platform from other industries and markets,” said Luis Dussan, co-founder and CEO of AEye. “Akram has deep experience commercializing LiDAR technology across different verticals, and he’ll be a great asset as he helps AEye’s customers do the same.”
2019 Sees Continued Success for AEye
AEye’s iDAR Artificial Perception platform combines software extensibility, artificial intelligence and smart, agile sensors to deliver intelligent data collection at the sensor level. The company’s AE110 product features the industry’s only software-definable LiDAR, creating an open platform for perception innovation that allows software engineers to optimize data collection to best meet their needs. The AE200 system is designed to address the needs of modular, high-performance sensors, and is optimized for size, weight, power and cost. Both will be available commercially during the second half of this year.
AEye and iDAR have been increasingly recognized by technology, automotive and other industry organizations. In 2019 alone, AEye has been honored as “Best Up-and-Coming Company” by Image Sensors, “Outstanding Innovation in LiDAR” by ILMF and LiDAR Magazine, “Innovation Award for AI and Machine Learning” by SXSW and “ACES” award for Autonomy and Sensing by Autonomous Vehicle Technology. In addition, AEye was named to CB Insights AI 100 list as well as their Top Startups Revolutionizing Auto with AI for 2019.
About AEye
AEye is an artificial perception pioneer and creator of iDAR™, a perception system that acts as the eyes and visual cortex of autonomous vehicles. Since its demonstration of its solid-state LiDAR scanner in 2013, AEye has pioneered breakthroughs in intelligent sensing. The company is based in the San Francisco Bay Area, and backed by world-renowned investors including Kleiner Perkins Caufield & Byers, Taiwania Capital, Hella Ventures, LG Electronics, Subaru-SBI, Aisin/Pegasus Tech Ventures, Intel Capital, Airbus Ventures, and others.
Media Contact:
AEye, Inc.
Jennifer Deitsch
[email protected]
925-400-4366
AEye Expands Business Development and Customer Success Team to Support Growing Network of Global Partners and Customers — AEye’s iDAR Shatters Both Range and Scan Rate Performance Records for Automotive Grade LiDARLeading Global Automotive Supplier Aisin Invests in AEye through Pegasus Tech VenturesAEye Extends Patent Portfolio, Creating Industry’s Most Comprehensive Library of Solid-State Lidar Intellectual PropertyBlair LaCorte Named President of AEyeAEye’s $40M Series B Includes Numerous Automotive Leaders Including Subaru, Hella, LG, and SKLG Electronics and AEye Announce Strategic Partnership to Address Sensing and Perception Needs of ADAS MarketAEye Adds VP of AI and Software to Executive TeamHella and AEye Extend Strategic Partnership to Deliver Sensing and Perception Solutions for ADAS and Autonomous DrivingThe Future of Autonomous Vehicles: Part II – Blind Technology without Compassion Is RuthlessThe Future of Autonomous Vehicles: Part I – Think Like a Robot, Perceive Like a Human
Tesla may be about to lose a key group of investors that have stuck with the struggling stock
Elon Musk, co-founder and chief executive officer of Tesla Inc., speaks during an unveiling event for the Tesla Model Y crossover electric vehicle in Hawthorne, California, U.S., on Friday, March 15, 2019.Patrick T. Fallon | Bloomberg | Getty ImagesTesla's recent move to raise cash may quiet down its skeptics. Yet Elon Musk has given them new ammo as he shifts his focus to autonomous vehicles — which pushes out the automaker's path to profitability even further.
Musk last week tapped Wall Street to raise $2.7 billion in stock and bond offerings, which sparked a relief rally in its stock that had been struggling amid disappointing production and the company's legal woes.
But on an investor call hosted by the deal's underwriters, Musk changed his tune, talking up Tesla's self-driving strategy right off the bat, confidently saying autonomous driving will transform Tesla into a company with a $500 billion market cap.
VIDEO2:5002:50Trading Nation: Tesla picks up speedTrading Nation “Case for a trillion-dollar market cap used to center around high-volume, high-profit auto sales … now it's all in on autonomy,” Barclays autos analyst Brian Johnson said in a note Tuesday. “Tesla [is] apparently pivoting from auto profits to autonomy profits.”
The pivot to autonomy now means growth investors will have to wait around even longer for any payoff, Johnson notes. The so-called rational bulls, typically large institutional investors with a growth mandate, believed that “Tesla will be a multi-product automaker in the next five to seven years with its light vehicle lineup,” Johnson said.
Now that's changed.
Shares of Tesla surged more than 4% the day the company announced its the stock and bond offering, and they jumped another 4% a day later when Tesla decided to upsize the deal to $2.7 billion from $2.3 billion as the offering eased the concerns about the company's liquidity and financing. Tesla's stock is still down more than 24% this year.
Musk first touted the idea of robotaxis on the company's investor day on April 22, saying Tesla would be able to offer robotaxis next year and it will be making cars with no steering wheels or pedals in two years.
Barclays rates Tesla at underweight and has a 12-month price target of $192, which would represent a 25% loss based on Monday's close of $255.
“We believe the appeal of Tesla shares to growth investors may fade,” Johnson said. “Some of the rational bulls may need to reassess the idea that Tesla will become a profitable auto market.”
— With reporting by Michael Bloom
WATCH: David Einhorn calls out Tesla Founder Elon Musk
VIDEO1:2501:25Hedge fund manager David Einhorn calls out Tesla's Musk at Sohn conferenceThe Bottom Line
Fujitsu and Autonomic collaborate to bring advanced mobility services to global automakers
Fujitsu and Autonomic, a wholly owned subsidiary of Ford Smart Mobility, announced a joint collaboration to offer OEMs worldwide a fast and flexible solution to support the automotive industry’s transformation to mobility-as-a-service models. Leveraging Autonomic’s experience in cloud services for connected vehicles and Fujitsu’s capabilities in technology integration and experience in the automotive space, the companies will… Continue reading Fujitsu and Autonomic collaborate to bring advanced mobility services to global automakers
Eclipse Foundation launches openMobility Working Group
The Eclipse Foundation announced the launch of the openMobility Working Group that will focus on open and shared collaboration around one of the major issues in urban planning around autonomous vehicles and future transportation requirements — traffic simulation and modelling. Based on the Eclipse Simulation of Urban Mobility (SUMO) project that originated at the German Aerospace Center,… Continue reading Eclipse Foundation launches openMobility Working Group
Press: ZF to Acquire Software Specialist for Occupant Recognition
ZF plans to acquire 90 percent of Simi Reality Motion Systems Specialist for image-based 3D systems for recording and analysis of human movement Over 25 years of experience in high-performance sports and medicine Occupant recognition is a key enabler for integrated safety and autonomous driving Friedrichshafen/Unterschleißheim (Germany). ZF plans to expand its network of cooperations… Continue reading Press: ZF to Acquire Software Specialist for Occupant Recognition