This week on Automotive: Companies ramp up research and funding into battery and sensor tech as demand rises for green mobility solutions
Latest Industry Insights from Draup Braindesk
Geographical insights on the Automotive Startup Landscape: The automotive industry has evolved to enhance mobility operations and sustain environmental concerns.
North America: Being a global software innovation hub and building a nurturing ecosystem for the automotive industry, California has emerged as a global hotspot of automotive startups.
The auto tech startups are emerging with next-generation mobility solutions to improve connectivity, safety, and efficiency, focusing on ADAS, fleet telematics, and vehicle cybersecurity.
In 2020, various automotive players and VC firms invested USD 10.9 Bn in around 300 deals to accelerate the growth of mobility solutions.
Startups such as Zoox, Aurora, Pony.ai, and TuSimple are developing semi-autonomous and fully autonomous driving vehicles.
Europe, the Middle East, Africa: The automotive startup market in the EMEA region focuses on research and development in automation, electrification, and connectivity areas.
European mobility startups have experienced massive development in recent years with advancements in automotive technology to eliminate human assistance and improve vehicle safety.
Israel has become a mobility hub for automotive technology with ~650 startups developing autonomous vehicles, LiDAR technology, and EV solutions.
The startups in this region have raised over USD 4 Bn in 200 deals. 20% of these deals by European startups are at the Series-C funding stage or later.
Asia Pacific: Asian automotive startups are majorly engaged in research and development operations related to electrification and automation in countries like India and China.
The growing market size of electric vehicles in the Asia-Pacific region plays an essential role in expanding research into autonomous vehicles and integrating self-driving technologies into BEVs.
Countries like India, China, and Singapore are developing infrastructure to deploy electric vehicles and autonomous vehicles.
The autonomous market in the Asia-Pacific region is expected to increase to 24 Million units by 2024.
Latest Reports Published in Draup
Cruise LLC account intelligence report: Cruise uses sensors in their autonomous vehicles, where the sensors detect infrequent activities, and they are placed quickly by simulation frameworks. The company is focusing on ultium batteries for their electric vehicle, which will power the next-gen vehicles. Read More>>
Joyson Safety Systems account intelligence report: Joyson Safety Systems is developing SaaS and SaaP solutions for autonomous driving, shared travel, and intelligent transportation equipped with safety systems. They are enhancing safety solutions by leveraging advanced sensors, digital twin, and vision & radar systems. Read More>>
Key Funding Alert
BMW i Ventures announces new USD 300 Mn fund to invest in sustainable technology.
BMW i Ventures, the venture capital arm of BMW Group’s fund, will invest in technologies that make transportation, manufacturing, and supply chains more sustainable to reduce their carbon footprint. Read More>>
Startup Spotlight
Company – Yoshi HQ Location – San Francisco Bay Area, USA Total Funding – USD 38.8 Mn About: Yoshi delivers gas, oil changes, car washes to parked cars. Yoshi’s mission is to keep vehicles moving in the safest, most efficient, and planet-friendly way possible while delivering unparalleled customer service. Read More>>
Key Insights and Signals in Automotive
Centre set up and expansion Town North Mazda building a new facility in Richardson
A new 32,000 square-foot facility was completed in spring 2022. In addition to new and used vehicle sales, Town North Mazda offers an in-house finance center, and parts and service departments. Read More>> Magna International to open 35 mln euro wing mirrors factory in N. Macedonia
The government will provide state aid covering 50% of the entire investment through tax exemptions and grants for job openings, investment costs, and competitiveness. The 17,000 square meter factory will initially employ 300. Read More>> Mercedes-Benz opens Van Marshaling yard in South Carolina to help streamline deliveries to US dealers
Mercedes-Benz USA is selling more vans since the parent company opened a new, larger, and fully equipped assembly plant in the Charleston area in 2018 to build a new generation of the Mercedes-Benz Sprinter van. Read More>> Volvo plans to produce only electric cars at its South Carolina factory ahead of factories in other markets
The factory will be the first one building all-electric cars, implying it will reach that milestone before factories in Europe and China. Read More>>
Deal and Deal Renewal General Motors strikes a deal to source lithium in the US for its electric car batteries
It’s a risky bet by GM, given that there is no full-scale lithium production in the US from geothermal wells. Most of the world’s lithium comes from two places: lithium brine deposits in South America’s “lithium triangle” of Argentina, Chile, Bolivia, and hard-rock deposits in Australia. Read More>> Tesla expands battery supply agreement with CATL to 2025
Tesla has signed a new long-term battery cell agreement with China’s Contemporary Amperex Technology Co to secure supplies between January 2022 and December 2025, as per an Electrek report. Read More>> ABB, Hitachi to design electric dump truck
ABB and Hitachi Construction Machinery will develop an electric rigid dump truck with a customized on-board energy storage system. It will use ABB’s innovative battery technology, drawing the power from the overhead catenary while simultaneously charging the on-board energy storage system. Read More>>
Executive Movement Ashok Leyland names former Aston Martin chief Andy Palmer as EV arm head
Andy Palmer has been appointed as Executive VC and CEO, supported by an experienced team of experts to deliver the company’s ambitions to be a leader in urban e-mobility, Ashok Leyland, a Hinduja Group firm. Read More>> Volkswagen has appointed Owen Shepherd as its new head of aftersales
Shepherd will oversee Volkswagen’s aftersales operations, initiatives like all-in from Volkswagen, areas including parts and accessories, and customer care-focused activities run by the aftersales team. Read More>> BMW Group UK appoints new CEO and sales director
BMW Group UK will appoint its sales director Chris Brownridge as CEO, replacing Graeme Grieve, retiring after 30 years with the brand. Read More>> Bosch to complete management team change in 2022
Bosch will complete the generation change at the top of the board of management that it has been preparing for the long term – The chairs of the supervisory board, board of management, and the mobility solution business will be retiring and making space for younger colleagues. Read More>>
Mergers and Acquisition Navistar merges with Traton Group in a USD 3.7 Bn deal
Traton now has a firm foothold in the United States, considered the biggest source of profits for the truck industry. Traton holds all shares in Navistar, which is scheduled to be de-listed and deregistered with the US Securities and Exchange Commission this month. Read More>> Melrose Industries completes GBP 2.62 Bn (USD 3.6 Bn) disposal
Birmingham-headquartered Melrose Industries, the parent of historic engineering giant GKN, has completed the sale of Nortek Air Management. The company has also confirmed the proposed return of approximately GBP 730 Mn (USD 1 Bn) in cash to shareholders, equivalent to 15 pence per existing ordinary share. Read More>>
Partnerships Valeo and Omega Seiki partner to accelerate two and three-wheelers electrification in India
Valeo will provide its 48V electric powertrain system (reducer, integrated Motor, and Inverter) along with the Powertrain Control Unit for Omega Seiki Mobility cargo three-wheelers. “Rage+ and Rage+ Frost.” Read More>> The Ray, Georgia’s V2X connected interstate, appoints Kia as OEM partner
The Georgia Department of Transportation (GDOT), The Ray and Panasonic Corporation of North America announced Kia as the OEM partner, supported by HATCI (Hyundai America Technical Center, Inc.), for the second phase of the collaborative vehicle-to-everything (V2X) infrastructure development project on The Ray Highway along Interstate 85 in West Georgia. Read More>> Renault signs partnership deals for two battery gigafactories in Europe
French automaker Renault has signed two major deals with electric vehicle battery gigafactory developers that it hopes will help the company become a more competitive and efficient player in the EV market. Read More>>
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