Organizational realignment completed in record time; new management team in place since April 1, 2019 Technology company’s powertrain business to trade under the name of Vitesco Technologies Preparations on schedule for planed partial IPO in second half of 2019; company could begin trading in 2020 Vitesco Technologies is managed by Andreas Wolf (CEO), Werner Volz… Continue reading Powertrain starts life as an independent company
Tag: M and A
REFILE-UPDATE 1-German chauffeur service Blacklane plans IPO within 3 years
DUBAI (Reuters) – German chauffeur service Blacklane is planning an initial public offering (IPO) in the next three years, its chief executive told Reuters, as it strives to build its position in the fast-growing premium taxi market. Any flotation would follow those of larger ride-hailing rivals. U.S. group Lyft listed last month with a valuation… Continue reading REFILE-UPDATE 1-German chauffeur service Blacklane plans IPO within 3 years
Wealth That Booming Vans Generate for Euro Economy Beats Swiss GDP – Growth Driven by Online Shopping
Massive growth in van use helped contribute more than €675 billion to the European economy in 2017, according to a new Ford-commissioned report This exceeds the GDP of countries including Argentina, Saudi Arabia, and Switzerland – and represents an increase of 19 per cent compared with 2012 The Centre for Economics and Business Research report… Continue reading Wealth That Booming Vans Generate for Euro Economy Beats Swiss GDP – Growth Driven by Online Shopping
Daimler pulls the plug on electric smart car sales in US, Canada
Daimler is ending sales of its diminutive all-electric smart fortwo cars in the U.S. and Canada, officially pulling the plug on a vehicle that has struggled to gain ground in North America as the German automaker prepares to bring the brand to China, TechCrunch has learned. Smart won’t be sold in the U.S. and Canada… Continue reading Daimler pulls the plug on electric smart car sales in US, Canada
Fiat Chrysler CEO Mike Manley ‘100% Sure’ Carmaker Can Survive Tech Disruption – Transport Topics Online
Fiat Chrysler Automobiles NV is a “house of brands,” and that ensures it will be one of the few traditional automakers to survive the disruption the car industry is facing from the rise of electric and self-driving cars, according to CEO Mike Manley. Manley’s vision, like that of his iconic predecessor Sergio Marchionne, is based… Continue reading Fiat Chrysler CEO Mike Manley ‘100% Sure’ Carmaker Can Survive Tech Disruption – Transport Topics Online
Via Announces Expansion to Evanston and West Chicago
Published April 29, 2019 9:00 am, Via NYC
Via Announces Expansion to Evanston and West Chicago
The shared ride provider continues to widen its reach in the Greater Chicago area
Via, the leading provider and developer of on-demand shared ride services, has expanded its Chicago-area service. Via will now be available in Evanston as well as Hermosa, Humboldt Park and Mayfair. The expansion will see the Chicago-area service zone increase by more than 20%.
“At Via, our goal is to eliminate the need for private car ownership by providing affordable, convenient, and eco-friendly on-demand shared transportation that can seamlessly integrate into existing public transit infrastructure” said Alex Lavoie, US General Manager of Via. “We’re delighted to be expanding in Chicago, providing greater access for the students, residents, and workers in these communities.”
All shared rides within Evanston will be a low $3 flat fare. Via aims to be a key first-and-last mile solution for the commuter-heavy suburb, connecting residents and commuters to rail stations without the need for a personal vehicle.
Using the Via app, passengers select their pick up and drop off location and confirm their ride. Via’s smart algorithm enables multiple riders to seamlessly share a single vehicle. The powerful technology directs passengers to a nearby corner – a virtual bus stop – for pick up and drop off, allowing for quick and efficient shared trips without lengthy detours that take riders out of their way. This enables Via’s system to transport a high volume of passengers while using a fraction of the number of vehicles utilized by taxis or on-demand car services. By grouping multiple passengers into a single shared vehicle, Via reduces congestion and emissions, providing an inexpensive, eco-friendly, and convenient transportation alternative.
In the United States, Via operates services in New York, Chicago, Washington DC. Via has also been tapped by cities and transit authorities in the United States and around the world to help re-engineer public transit from a regulated system of rigid routes and schedules to a fully dynamic, on-demand network, including partnerships in Arlington Texas, West Sacramento California, Los Angeles, and Seattle. Via has more than 50 deployments in more than 15 countries around the world.
About Via:
Via is re-engineering public transit, from a regulated system of rigid routes and schedules to a fully dynamic, on-demand network. Via’s mobile app connects multiple passengers who are headed the same way, allowing riders to seamlessly share a premium vehicle. First launched in New York City in September 2013, the Via platform currently operates in the United States, and in Europe through its joint venture with Mercedes-Benz Vans, ViaVan. Via’s technology is also deployed worldwide through partner projects with public transportation agencies, private transit operators, taxi fleets, private companies, and universities, seamlessly integrating with public transit infrastructure to provide the most cutting edge on-demand mobility innovation.
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Lyft, Banner Health, MCAO and iHeart Media Partner to Provide Safe Rides for Cinco de Mayo
Continuing the successful campaign “Save Lives, Don’t DUI,” the Maricopa County Attorney’s Office is partnering with Lyft, Banner Health, and iHeart Media to offer an incentive not to drink and drive this Cinco de Mayo. “Lyft has been an important partner in our Save Lives Don’t DUI campaign. By offering discounted rides and helping to… Continue reading Lyft, Banner Health, MCAO and iHeart Media Partner to Provide Safe Rides for Cinco de Mayo
Getaround Completes $300M Acquisition of Drivy
Expanding on Getaround’s vision of a world where all cars are shared, the combined company now spans 300 cities in the U.S. and Europe, adding international presence in six European countries. Photo via Gocarma.com Carsharing firm Getaround has acquired Drivy, one of the fastest growing carsharing platforms in Europe, for $300 million. Expanding on Getaround’s vision… Continue reading Getaround Completes $300M Acquisition of Drivy
Alamo, Vulog Partner on Carsharing in Mexico
This service in Cancun is the first to be powered by Vulog’s artificial intelligence mobility applied (AiMA) technology platform in Mexico Photo via Depositphotos. Vulog, a leader in shared mobility software, has partnered with the Mexico franchise of Alamo Rent a Car to launch its first carsharing service. Users will be able to instantly register using the Alamo… Continue reading Alamo, Vulog Partner on Carsharing in Mexico
South Korea’s SK Telecom to develop a 5G-based map for self-driving cars
Sungjin Kim | Moment | Getty ImagesSouth Korean telecoms giant SK Telecom has signed an agreement with the Incheon Free Economic Zone (IFEZ) to develop 5G-based self-driving infrastructure.
The memorandum of understanding (MOU) will also focus on the development of information and communications technology start-ups in the IFEZ, a specially-designated economic zone located in the city of Incheon in the northwest of the country. The IFEZ was set up in 2003 and is made up of the areas of Songdo, Yeongjong and Cheongna.
5G refers to the fifth generation of mobile networks. While it promises cell phone users incredibly fast browsing experiences, it will also benefit the autonomous vehicle sector through its ability to process reams of information and data simultaneously and quickly.
In a statement Monday, SK Telecom said it would produce a high definition map covering the whole IFEZ area. It added that the map would have “centimeter-level accuracy” and provide information relating to road conditions, lanes, road slopes and speed limits.
The hope is that the map will help the IFEZ area become ready for Level 4 autonomous vehicles, as defined by SAE International. A global association of over 127,000 engineers, SAE International has defined five “levels” of driving automation. An example of Level 4 automation could be a driverless taxi, while at Level 5 a vehicle's automated features can drive it under all conditions.
The map will be built using a 5G-based platform that will automatically update when it gets road observation data from advanced driver assistance systems over the 5G network.
Advanced driver assistance systems, or ADAS, are becoming increasingly important tools in modern vehicles. They use a range of technologies, including sensors and cameras, to detect potential hazards, and can undertake action – be it automatically or by warning a driver – to prevent accidents from happening.
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In order to detect any changes on the road, SK Telecom said it planned to install both ADAS and 5G communication technologies to public transport vehicles and government cars in the IFEZ.
“The core of 5G lies in its power to transform all industries to deliver unprecedented value to people's daily lives,” Park Jin-hyo, SK Telecom's chief technology officer, said Monday.
“We will work closely with the IFEZ Authority to accelerate IFEZ's transition to a smart city powered by SK Telecom's 5G network and mobility technologies,” he added.
While there is a great deal of excitement in relation to self-driving cars, the CEO of Arm Holdings told CNBC earlier this year that it would be “a while” before they become mainstream.
“It is a phenomenally hard problem to anticipate what a car could do under absolutely any set of circumstances,” Simon Segars, who was speaking to CNBC's Karen Tso, said.
“I think you're going to start to see early services, in quite a constrained way, quite soon over the next couple of years,” he added, explaining that there was “some way to come” before the technology was “completely mainstream.”
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