YOKOHAMA (Reuters) – Nissan Motor Co forecast a 28% plunge in its annual operating profit, putting it on course for the weakest earnings in 11 years and underscoring its struggle to turn the page after former Chairman Carlos Ghosn was ousted. The lackluster outlook from Japan’s No.2 automaker – hit by Ghosn’s arrest last year… Continue reading Nissan set for weakest profit in 11 years as Ghosn woes, bleak sales weigh
Tag: Strategy
SEAT rolls out its electric offensive in Barcelona
SEAT is displaying its range at the motor show alongside all the Volkswagen Group brands in the same space in order to demonstrate the strength of the consortium and its vision of future mobility. During the Group Night held yesterday, for the first time in the history of the motor show three gobal CEOs from… Continue reading SEAT rolls out its electric offensive in Barcelona
Volvo Cars signs ‘multi-billion dollar’ supply deals with Asian battery firms
VIDEO2:0002:00Volvo Cars wants open trade and zero tariffs, CEO saysSquawk Box EuropeThe Volvo Car Group has signed long-term, “multi-billion dollar” deals with two major battery makers in Asia. In an announcement Wednesday, the car firm said that the agreements with firms CATL and LG Chem would ensure a supply of lithium ion batteries for its next generation Volvo and Polestar models.
The deals chime with Volvo Cars' wider strategy to electrify its vehicles. In 2017 the firm committed to ensuring all new Volvo cars launched from 2019 would be electrified. In addition, it wants fully electric cars to account for half of its global sales volume by 2025.
“The future of Volvo Cars is electric and we are firmly committed to moving beyond the internal combustion engine,” Hakan Samuelsson, the president and CEO of Volvo Cars, said in a statement Wednesday.
“Today's agreements with CATL and LG Chem demonstrate how we will reach our ambitious electrification target,” he added.
CATL and LG Chem are Chinese and South Korean businesses respectively. A major player in the automotive sector, Volvo Cars was bought by China's Zhejiang Geely Holding in 2010. The business sold 642,253 cars last year.
Speaking to CNBC's Squawk Box Europe on Wednesday, Samuelsson emphasized the importance of infrastructure being in place to support its commitment to electric mobility.
“That is really going to decide the pace we have in the transition,” he said, going on to add that the “supply of batteries will be crucial.”
Overall, 408,000 plug-in vehicle units were sold across Europe in 2018, according to analysis from EV-Volumes.
In 2017, there were more than 3 million electric and plug-in hybrid cars on the planet's roads, according to the International Energy Agency's (IEA) Global Electric Vehicles Outlook. This represents an increase of 54 percent compared to 2016.
Almost 580,000 electric cars were sold in China in 2017, according to the IEA, while around 280,000 were sold in the U.S.
Innovations for a Clean Mobility Mix
In the world of powertrain systems, variety is the watchword: Continental supports unlimited clean mobility for every car driver and every individual user profile World’s first ring catalyst turbocharger further boosts engine efficiency in hybrids In harness with EMICAT electrical heating technology the ring catalyst turbocharger realizes emission robustness while simultaneously reducing the carbon footprint… Continue reading Innovations for a Clean Mobility Mix
UPDATE 1-Volvo signs EV battery supply deals with LG Chem, CATL
FILE PHOTO: The logo of Swedish automobile manufacturer Volvo is seen at Stierli Automobile AG company in St. Erhard, Switzerland April 11, 2019. REUTERS/Arnd Wiegmann SEOUL/BEIJING (Reuters) – Swedish carmaker Volvo said on Wednesday it had signed long-term battery supply deals with two Asian battery makers, LG Chem and Contemporary Amperex Technology Co Ltd (CATL),… Continue reading UPDATE 1-Volvo signs EV battery supply deals with LG Chem, CATL
Volkswagen ID 3: pre-orders for electric hatch reach 15,000
Volkswagen sales boss Jürgen Stackmann said that the start of ID pre-booking ushered in “the third major chapter of strategic importance in the history of our brand, following the Beetle and the Golf”. He added: “With the ID 3, we are making the electric car fit for mass mobility.” Stackmann said that the ID 3 represented… Continue reading Volkswagen ID 3: pre-orders for electric hatch reach 15,000
EV startup Rimac scores $90M investment from Hyundai and Kia
Rimac Automobili, the European EV startup that landed an investment from Porsche last year, has again gained the backing of traditional automakers after Hyundai Motor Company and Kia Motors jointly invested €80 million, or around $90 million. Beyond the significant cash infusion, the three parties said the deal includes “a strategic partnership to collaborate on… Continue reading EV startup Rimac scores $90M investment from Hyundai and Kia
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
Volkswagen wins worker backing for restructuring with $1.1 billion battery plan
BERLIN (Reuters) – Volkswagen workers backed a restructuring of the world’s largest carmaker on Tuesday after Chief Executive Herbert Diess pledged to spend 1 billion euros ($1.1 billion) on a new battery cell production plant near its headquarters in Lower Saxony. Volkswagen’s CEO Herbert Diess speaks ahead of Volkswagen Group’s annual general meeting in Berlin,… Continue reading Volkswagen wins worker backing for restructuring with $1.1 billion battery plan