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Chinese EV startup Byton seeks to raise $500m to fund growth

January 8, 2019 Chinese-funded electric vehicle manufacturer Byton is seeking to raise at least $500 million to finance growth, valuing the nearly three-year-old company at more than $4 billion, two people familiar with the matter told Reuters. The latest round of fundraising comes as China’s government promotes new energy vehicles (NEVs), a category comprising battery-powered… Continue reading Chinese EV startup Byton seeks to raise $500m to fund growth

EV startup Byton aims to raise $500 mln to fund growth: sources

HONG KONG, Jan 8 (Reuters) – Chinese-funded electric vehicle manufacturer Byton is seeking to raise at least $500 million to finance growth, valuing the nearly three-year-old company at more than $4 billion, two people familiar with the matter told Reuters. The latest round of fundraising comes as China’s government promotes new energy vehicles (NEVs), a… Continue reading EV startup Byton aims to raise $500 mln to fund growth: sources

Via Demonstrates the Future of Autonomous Vehicle Ridesharing at CES

Published January 7, 2019 9:00 am, Via NYC
Via Demonstrates the Future of Autonomous Vehicle Ridesharing at CES
Via, Comet Mobility and Aurrigo debut PodZero AV mobility project

Via, the leader in dynamic, on-demand shared ride technology, is building the operating system for mobility and the future of Autonomous Vehicles (AVs), showcasing its smart solutions at CES 2019 alongside Aurrigo, Comet Mobility and an AI technology provider for AV demonstrations. AV technology is maturing, and Via is building and deploying solutions that will enable AVs to function in real-world situations as part of optimized, shared transportation systems. This is the first time Via’s AV technology and Aurrigo’s PodZero will be demonstrated together.

“We are delighted to showcase Via’s dynamic autonomous vehicle technology at CES with change-makers Aurrigo and Comet Mobility,” said Oren Shoval, co-founder and CTO of Via. “If autonomous vehicles are to reach their full potential for providing low-cost, efficient rides, they need to be shared by multiple passengers. Via’s sophisticated systems are able to power, in real-time, the movement of millions of connected autonomous shuttles and their passengers.”

Via has provided more than 45 million dynamically-routed rides around the globe, and has applied this experience in shared mobility to AVs. CES attendees can experience Via’s AV technology by booking a PodZero ride using the Via app at the on-site visitor center. Via will seamlessly book and route the autonomous vehicles on-demand, provide customers with a vehicle location and ETA, and use its advanced Augmented Reality (AR) functionality for easy identification.

Here’s how it works, all through Via’s mobile app:

The rider will select the number of passengers, pick-up and drop-off locations
The app will provide the rider with a notification of the next Aurrigo PodZero available, and an accurate ETA
The rider will receive updated ETAs and vehicle location during the wait
The rider will easily identify the Aurrigo PodZero upon arrival using Via’s AR technology, which displays a Via icon above the PodZero within the app

During the journey, visitors will be routed around a 1,500 ft. “cityscape” track to New York, the UK or Las Vegas in the South Platinum Parking Lot, while interacting with voice-activated technology. In addition to rider-focused AV technology, Via will also demonstrate its AV driver technology, including key functionalities that intelligently select the fastest routes for each shuttle using real-time traffic data from multiple sources; direct shuttles to optimal pick-up locations to avoid detours; and accurately predict how demand patterns will unfold throughout the day and smartly position shuttles to anticipate that demand.

“Deploying an efficient fleet of AVs for shared rides is no easy feat, and requires products that reach far beyond simply the ability to drive autonomously. Via’s technology has to replace all of the functions of the traditional driver — from helping riders board, to ensuring they have the right vehicle, to solving real-time issues in the vehicle, and acting as ‘eyes and ears’ on the road by reporting important changes like street closures,” said Shoval.

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.

Karma Automotive Forms Mobility Experiences Division – PRNewswire

IRVINE, Calif., Jan. 7, 2019 /PRNewswire/ — Southern California-based Karma Automotive announced the creation of a new Mobility Experiences Division to help build its long-term brand value and create opportunities for target consumers to enjoy premium hands-on experiences in the luxury electric Revero in settings that match their lifestyle. The new Mobility Division will initially offer… Continue reading Karma Automotive Forms Mobility Experiences Division – PRNewswire

Innoviz and HARMAN Partner to Deliver Industry-Leading LiDAR to Automakers – PRNewswire

HARMAN will leverage Innoviz’s LiDAR offerings to further reinforce its position as a leading provider of products and technologies to automakers that help improve vehicle safety, perception, connectivity and experience. Specifically, Innoviz’s LiDAR will enhance HARMAN’s existing ADAS and Automated Driving initiatives, helping deliver superior driver assist features today and Levels 3-5 automation tomorrow. “HARMAN’s… Continue reading Innoviz and HARMAN Partner to Deliver Industry-Leading LiDAR to Automakers – PRNewswire

Uber’s IPO may not be as eye-popping as we expected

Uber is expected to raise $10 billion later this year in one of the largest U.S. initial public offerings in history. The float will value the ride-hailing giant somewhere between $76 billion — the valuation it garnered with its last private financing — and $120 billion — a sky-high figure assigned by Wall Street bankers… Continue reading Uber’s IPO may not be as eye-popping as we expected

With cease-fire agreement, spark flickers toward Faraday’s Future

Faraday Future FF91 prototype
Like a prizefighter listening to counts of “eight” and “nine,” Chinese electric-car startup Faraday Future, has started groaning, sputtering, and trying to stand.

The company, which sputtered to a start building prototype electric luxury cars last year, then was abruptly knocked out when its new Chinese financial backer withheld funds in a contract dispute, has reached a new agreement with its benefactor, with each side agreeing to retire lawsuits against each other, and Faraday receiving the green light to seek new investment.

The company controls a leased factory in California and has several prototype vehicles, but furloughed most of its staff last year after it ran out of money in a power-control plot that looked cut from the script of a cheesy wrestling show.

READ THIS: Faraday Future loses final founding executive (Updated)

Along with that staff went all five of the company's founding executives, including Peter Savagian, a member of the original GM EV1 team, and Dag Reckhorn, the former head of Model S manufacturing at Tesla. The only founder left is the company's original financial backer, Jia Yueting, a collegial fellow known with affection within the company's ranks, but who sits at the center of many of its controversies.

In November, Faraday received permission from a Hong Kong court to seek up to $500 million in new investment as it worked to settle its differences with its primary backer, Evergrande Health group, a health insurance company in Hong Kong.

Evergrande agreed last June to invest up to $2 billion in Faraday Future, and the company went on a hiring spree and produced several prototypes at its new factory. In October, Evergrande announced it would withhold future payments on the funds after Faraday failed to meet certain contractual milestones.

CHECK OUT: Faraday Future sues investor claiming takeover “plot”

Faraday Future accused Evergrande of trying to bankrupt the company to steal its patents.

In the latest settlement, Evergrande and Faraday Future have agreed to drop those lawsuits and stop fighting for now, while Faraday seeks new funding.

What is less clear is where any new funding might come from for a company with a few roughly assembled prototypes and a leased factory, but no experienced executives to run it. Many of the furloughed factory workers may well still wish to come back to Faraday, but many others will have to be replaced by new workers who would have to be trained from scratch.

Toyota says it doesn’t worry about Tesla’s lead, shuns all-electric and goes ‘electrified’ by 2025

Despite its early effort in electrification with the Prius and a partnership with Tesla, Toyota has famously been looking down on battery-electric vehicles in favor of hybrid and fuel cell vehicles. Yet, the Japanese automaker says that all its models will be ‘electrified’ by 2025, but it’s being vague about what it means and it still… Continue reading Toyota says it doesn’t worry about Tesla’s lead, shuns all-electric and goes ‘electrified’ by 2025

Transdev, ZF and e.GO announce partnership for shared autonomous mobility

The e.GO Moove GmbH joint venture (which partners e.GO and ZF) is providing the e.GO Mover, a fully electric, connected and automated shuttle. ZF is equipping this people mover with electric drive systems, steering systems and brakes as well as ZF’s ProAI central computer (using artificial intelligence) and sensors which enable automated driving functions. Transdev,… Continue reading Transdev, ZF and e.GO announce partnership for shared autonomous mobility

Siemens Mobility to design and build the next generation of VIA Rail Canada’s trainsets

32 bi-directional trainsets offering more than 9,100 seats
Passenger service expected to begin in 2022
Enhanced passenger experience

MUNICH, 13-Dec-2018 — /EuropaWire/ — Siemens Mobility has been awarded a €650 million contract in Canada to design and build the next generation of VIA Rail Canada’s trainsets. This includes 32 bi-directional trainsets, with a supplemental 15-year service agreement for VIA Rail, Canada’s government-owned intercity transportation operator. The new trainsets will service passengers on VIA’s busiest route, the Quebec City – Windsor Corridor, which connects Canada’s two largest cities, Toronto and Montreal, and spans more than 2,200 kilometers in a northeast-southwest direction. The line carried more than 4.5 million passengers in 2018, representing an increase of more than 30 percent over the past four years. The trainsets will ensure the highest level of safety while also significantly enhancing the passenger experience, with excellent ride quality including more comfortable seats, quieter cars, modern climate control and a high-performance passenger Wi-Fi and digital information system. Delivery of the trainsets will begin in 2021 and passenger service in 2022.

“As we are initiating the gradual withdrawal of the current fleet, the timely delivery of the new fleet will allow VIA Rail to maintain the current levels of service in the Québec-City Windsor Corridor, while significantly improving the quality of its passenger experience. We thank the Government of Canada for their trust in VIA Rail and for this historic investment in its sustainable future,” said Yves-Desjardins-Siciliano, President and CEO, VIA Rail Canada.

“We’re proud to provide VIA Rail’s next generation of trainsets, which will deliver the best travel experience for its riders. Siemens Mobility is committed to delivering intelligent trains that enhance passenger experience, increase value sustainably over their lifecycle and improve availability,” said Sabrina Soussan CEO, Siemens Mobility.

The 32 trainsets will be powered by the popular Charger locomotives, one of the most fuel-efficient diesel-electric locomotives in the market today. The passenger cars come with a high level of comfort, air-suspension, state of the art interior design, a full range of modern passenger amenities, the latest in food service equipment and will feature Enhanced Universal Accessibility, offering multiple accommodations for wheelchairs and other mobility devices. The trainsets will be manufactured in Siemens Mobility’s North American Manufacturing Headquarters for Rolling Stock located in Sacramento, California. Siemens Mobility aims to include Canadian content of more than 20 percent of supplies and service.

More than 70 Siemens Mobility Charger locomotives are successfully operating across North America transporting passengers and traveling nearly 5 million kilometers per year.

VIA Rail operates on a 12,500-kilometer rail network with 121 stations, 73 locomotives and 428 train cars. It transports more than 4.8 million passengers annually, covering 1.5 billion kilometers.

For further information about Siemens Mobility, please see: www.siemens.com/mobility

Siemens Mobility is a separately managed company of Siemens AG. As a leader in transport solutions for more than 160 years, Siemens Mobility is constantly innovating its portfolio in its core areas of rolling stock, rail automation and electrification, turnkey systems, intelligent traffic systems as well as related services. With digitalization, Siemens Mobility is enabling mobility operators worldwide to make infrastructure intelligent, increase value sustainably over the entire lifecycle, enhance passenger experience and guarantee availability. In fiscal year 2018, which ended on September 30, 2018, the former Siemens Mobility Division posted revenue of €8.8 billion and had around 28,400 employees worldwide. Further information is available at: www.siemens.com/mobility.

Contact
Ms. Kara Evanko
Siemens Mobility GmbH
300 New Jersey Avenue NW
DC 20001 Washington
USA
Tel: +1 202 285 3072

kara.evanko@siemens.com