Tag: Contract Manufacturer

China Merchants Capital-backed LiDAR startup Innoviz closes Series C at $170m

Innoviz Technologies, the Israel-based company that develops cutting-edge LiDAR (Light Detection and Ranging) technology, has closed its Series C funding round with an additional $38 million to bring the total series funding to $170 million. In March, the tech firm announced that it has raised $132 million in the Series C round, with Chinese investment… Continue reading China Merchants Capital-backed LiDAR startup Innoviz closes Series C at $170m

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

Karma to expand dealerships to 13 US cities, 19 countries by year-end

Karma, the company, is starting its effort in earnest to revive sales of its Revero—the car that started life as the ill-fated Fisker Karma.

According to the federal government, Karma sold 231 of the cars in 2018, well down from the 2,667 that Fisker sold in the car's first year on the market.

That's partly the result of a paucity of dealers. The company says it has 18 stores—in addition to its new Moreno Valley, California, design center—worldwide selling the cars. Those dealerships are in the U.S., Canada, and Chile.

Now as the company gets ready to sell the updated 2020 Revero GT, with a longer 65-mile electric range and a new, more powerful gas engine from BMW, Karma announced that it will open new luxury dealerships in 13 U.S. cities and 19 new countries.

Last month the company unveiled its new retail environment with the new design center at its Moreno Valley, California headquarters. There, it says, customers will be treated to a new “VVIP treatment” where they can tour the factory, customize the features they want on their cars, and meet the workers who hand-built them.

It's an effort to become something over a latter-day Rolls Royce (without the room), or a would-be cutting-edge Aston Martin, with Southern California style and craftsmanship, rather than that of the Old World.

Artist's impression of Karma Customer Experience Center

Among the new world markets, Karma says, will be Europe, North Africa, the Middle East, and China. It did not specify the 13 new U.S. cities where it plans to operate.

At the same time, Karma gave a first look at the interior of its new all-electric Pininfarina-designed SC1 roadster, which was revealed at the Shanghai auto show in April, along with a video showing the designers' artistic inspiration and the process of building the prototype.

The SC1 is expected to give rise to Karma's first electric car, but no date has been set. Karma is also seeking production partners in China for more mass-market models. In between, the company also has plans to build a plug-in hybrid SUV based on the Revero.

Mate Rimac Presents Rimac Automobili Episode 1: Video

Croatia’s Rimac Automobili is a great example of the huge potential of countries that previously were not associated with the automotive industry Following the recent presentation of the Rimac Automobili by Shmee150, Mate Rimac started a new series of 4 episodes, in which he thoroughly takes us through Rimac facilities. The EV startup from Croatia… Continue reading Mate Rimac Presents Rimac Automobili Episode 1: Video

GM to convert Oshawa factory into ‘aftermarket plant’ and AV test track – Automotive News Canada

TORONTO — General Motors will turn its Oshawa, Ont., factory into an “aftermarket plant,” producing parts, but most of the 2,600 hourly workers will still lose their jobs after vehicle production ends by the end of the year. The company plans to invest $170 million to support the transition of operations at Oshawa. GM also… Continue reading GM to convert Oshawa factory into ‘aftermarket plant’ and AV test track – Automotive News Canada

Israel’s Innoviz raising $100 million in private funding: report – Reuters

TEL AVIV (Reuters) – Innoviz Technologies, an Israeli maker of laser-based lidar sensors for self-driving cars, is raising $100 million in private investment at a company valuation of $500 million, the Calcalist financial news website said on Tuesday. Among the lead investors in this round is a large Chinese investment firm, the website said. When… Continue reading Israel’s Innoviz raising $100 million in private funding: report – Reuters

Change in Valmet Oyj’s holding of treasury shares

Change in Valmet Oyj’s holding of treasury shares Valmet Oyj’s stock exchange release on May 24, 2019 at 5:45 p.m. EET On May 24, 2019 a total of 1,208 Valmet shares have been returned free of consideration to Valmet Oyj according to the terms and conditions of the long-term incentive plan 2015-2017. Originally, the shares were… Continue reading Change in Valmet Oyj’s holding of treasury shares

Valmet delivers a new recovery boiler to ITC in India

Valmet delivers a new recovery boiler to ITC in India Valmet Oyj’s press release on May 22, 2019 at 11:00 a.m. EET Valmet will deliver a new recovery boiler and ash leaching plant to ITC’s Bhadrachalam pulp mill in India. The new boiler will replace three existing boilers. The start-up of the new recovery boiler… Continue reading Valmet delivers a new recovery boiler to ITC in India

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