Lidar technology developer AEye will scale its operations globally through manufacturing partnerships after raising a $40 million Series B. The round was led by Taiwania Capital, the investment firm created and backed by Taiwan’s National Development Council, and included returning investors Kleiner Perkins, Intel Capital, Airbus Ventures, and Tychee Partners. This brings the California-based startup’s… Continue reading Lidar startup AEye raises $40M Series B led by the Taiwanese government’s investment firm
Tag: Strategy
Lightfoot gets $4M to nudge more drivers to go smooth with a ‘Fitbit for cars’
UK car tech startup lightfoot, which sells a telematics system that gives real-time feedback to drivers combined with a rewards platform to further incentivize good driving, has picked up £3.2 million (~$4M) from London-based early-stage venture fund BGF. Former Dyson CEO, Martin McCourt, also contributed to the investment, and will join lightfoot’s board as a non-executive… Continue reading Lightfoot gets $4M to nudge more drivers to go smooth with a ‘Fitbit for cars’
VW-backed ride-hailing app Gett seeks buyers to compete with bigger rivals
November 19, 2018 Gett Inc., the ride-hailing app valued at more than $1 billion and backed by Volkswagen AG, is looking for buyers in a bid to compete with larger rivals, people familiar with the matter said. The Israeli tech company has approached potential bidders including other car-hire firms, the people said, asking not to… Continue reading VW-backed ride-hailing app Gett seeks buyers to compete with bigger rivals
VW wants to be the most profitable electric car company in the world
Justin Sullivan | Getty Images
The Volkswagen logo is displayed at Serramonte Volkswagen on November 18, 2016 in Colma, California.
Volkswagen announced it's to spend 44 billion euros ($50 billion) on new plants, electric cars, autonomous driving and mobility services.
The war chest is to be spent in the four years between 2019 and 2023 and represents about a third of the company's total outlay allocated to the four-year period.
“One aim of the Volkswagen Group's strategy is to speed up the pace of innovation. We are focusing our investments on the future fields of mobility and systematically implementing our strategy,” Herbert Diess, the CEO of Volkswagen, said in a press release, issued after a Supervisory Board meeting Friday.
VW CEO: We will be most profitable electric car firm
12 Mins Ago | 02:22
Diess told CNBC's Annette Weisbach that he expects the German carmaker to be the most profitable maker of electric cars thanks to its economies of scale. The auto group said it wanted to improve productivity by focusing its electrification strategy within Germany, while pushing some traditional engines to multi-brand factories in eastern Europe.
German plants in Emden and Hanover will be converted to build electric vehicles, while the Volkswagen Passat family will now be built in the Czech Republic. A new location in Eastern Europe will be built for some Skoda and SEAT cars.
VW Group added that it wanted its automotive division to lower its capital expenditure ratio to 6 percent of revenues from 2020 onward.
VW CEO: Politicians are beating auto firms up
11 Mins Ago | 02:06
Diess said VW's previous “bad behavior” meant that his firm had been “beaten up” by politicians in Germany and abroad but he hoped that relations were improving.
PowerSphyr Raises $4M in Series A Focusing on Automotive “Cockpit of the Future”
DANVILLE, Calif., Nov. 8, 2018 /PRNewswire/ — PowerSphyr, Inc. today announced an increased investment from Faurecia, one of the world’s leading automotive technology companies. “This is the ultimate ‘smart money’ investment given Faurecia’s commitment to deliver the truly connected car,” said Neil Ganz, President, and CEO. “This investment brings embedded wireless power to the global automotive… Continue reading PowerSphyr Raises $4M in Series A Focusing on Automotive “Cockpit of the Future”
Volkswagen redefines plant assignment and focuses more closely on multi-brand plants
At its meeting today, the Supervisory Board of Volkswagen Aktiengesellschaft approved the new plant assignment plans. The strategic plant assignment reflects the challenges of the next five years and lays the necessary foundations. The plants in Emden and Hanover will be converted to build electric vehicles: models from the ID. family will begin rolling off… Continue reading Volkswagen redefines plant assignment and focuses more closely on multi-brand plants
Volkswagen is investing in the future
The Volkswagen Group is investing heavily in its future. Over the coming five years to the end of 2023, the Company will be spending almost €44 billion alone on the future issues of e-mobility, autonomous driving, new mobility services and digitalization in its vehicles and at its plants. This represents approximately one-third of total expenditure… Continue reading Volkswagen is investing in the future
BlackBerry is buying AI-powered security company Cylance for $1.4bn
BlackBerry is buying security company Cylance for $1.4bn, its largest acquisition to date Cylance uses artificial intelligence and machine learning to predict and prevent security threats to fixed endpoints by creating a lightweight software agent that sits on the device and can operate both online and offline. The company says its software requires a minimum… Continue reading BlackBerry is buying AI-powered security company Cylance for $1.4bn
Groupe Renault acquires start-up Carizy, specialized in services of used-vehicle sales between private individuals
• Groupe Renault announces the acquisition of Carizy, a French start-up specialized in intermediation between private individuals in used-vehicle sales.• The acquisition is part of Groupe Renault’s strategy to establish itself in this growing, high-potential market. Boulogne-Billancourt, November 15, 2018 – Groupe Renault is announcing the acquisition of CARIZY, a service company specialized in intermediation between… Continue reading Groupe Renault acquires start-up Carizy, specialized in services of used-vehicle sales between private individuals
UPDATE 1-Ford CEO open to investors in autonomous vehicles but cautious on VW
MIAMI (Reuters) – Ford Motor Co (F.N) Chief Executive Jim Hackett told Reuters the company was open to investment by automakers and others in its autonomous vehicle business, but cautioned that expanding partnerships with German automaker Volkswagen AG (VOWG_p.DE) (VOWG.DE) was a “delicate dance.” FILE PHOTO: Jim Hackett, CEO of Ford Motor Company, listens to… Continue reading UPDATE 1-Ford CEO open to investors in autonomous vehicles but cautious on VW