This week in Automotive: Partnerships and funding raises confidence as players bet high on autonomous vehicles
Latest Industry Insights from Draup Braindesk
The EV market is expected to grow in the coming years due to steps taken by the government and automotive players.
Ford focuses on investing approximately USD 1 Bn across its Electrification Center, manufacturing operations in Cologne and South Africa to grow and electrify its leading commercial vehicle business.
Jaguar Land Rover’s partnerships aim to develop wireless, high-powered charging infrastructure for taxis in Norway’s capital, enhancing performance and the customer experience.
Daimler Mercedes Benz focuses on establishing a battery production network for electric and electrified vehicles with the investment of EUR 1 Bn (USD 1.19 Bn), which consists of nine battery factories.
BMW partnered with Daimler for Digital Charging solutions GmbH to further accelerate the growth of and intend to drive forward the transition of electrification.
PSA is building technical capabilities in electric vehicles’ manufacturing by complementing in-house initiatives with external partnerships and investments.
The tech-savvy population and the government’s mandatory regulations are crucial in boosting the connected car industry.
Ford India is focusing to facilitate real-time information exchange by introducing Ford pass, a connected tech based on a factory-fitted cloud-connected device that enables real-time information exchange. For instance, vehicle health alerts, location, and fuel information, among others.
BMW partnered with Amazon Web Services to migrate data from across its business and with Parkopedia to provide connected parking services across China, allowing BMW drivers to find parking easily.
Besides autonomous driving, car sharing, and so on, digitalization also occurs at the individual vehicle level.
Honda Cars India Limited is focusing a digital solution such as Virtual Showroom and Honda from Home to provide a digital shopping experience during the pandemic.
Jaguar Land Rover introduced a new noise cancellation technology that aims to balance refinement, vehicle weight, and driving dynamics for a truly premium experience.
PSW initiatives focus on module creation and virtual technology, which operates in super slow motion so spectators can only estimate the car’s speed.
BMW launched new applications to provide improved digital services for their vehicles, including status updates, allowing remote functions to improve Amazon Alexa integration and available for Android and iOS versions.
Companies innovate to strengthen the possibility of self-driving.
Ford‘s FORDLiive is an interconnected uptime system. It helps Ford commercial vehicle operators increase their productivity by maximizing vehicle uptime and installed smart infrastructure to provide a self-driving vehicle with an extra layer of information before it arrives at an intersection.
Latest Reports Published in Draup
Connected cars landscape report: The globally connected car market size is USD 53.9 Bn in 2020, which is expected to be USD 166 Bn by 2025 with a CAGR of 25.2% from 2020 to 2025. Read More>>
Magna Automotive India account intelligence report: Magna focuses on developing products to deliver new mobility solutions and technology that includes engines, drivetrain, and complete vehicle integration. KPIT technology is one of the 25+ outsourcing partners.
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Key Funding Alert
Geely’s Iconic Lotus Cars said to mull raising USD 1 Bn
Zhejiang Geely Holding Group Co. is considering raising about USD 1 Bn to expand its iconic British sports and racing automotive business, Lotus Cars, into China’s electric vehicles market. Read More>>
Startup Spotlight
Company – Innovusion HQ Location – San Francisco Bay Area, USA Total Funding – USD 90 Mn About: Innovusion develops image-grade LiDAR sensor systems for the level 4 and 5 of the autonomous vehicles and ADAS markets. They are venture-backed and headquartered in the heart of Silicon Valley. Read More>>
Key Insights and Signals in Automotive
Mergers and Acquistions McNally-Nio partnership acquires Orbis McNally’s partnership with the Orbis team aligns with our internal expertise in the aerospace & defense industry and their investment thesis in intelligence and national security. Read More>> Citroën and Peugeot will offer light commercial vehicles with fuel cell systems Citroën and Peugeot offer a range of electric light trucks with hydrogen fuel cells. In collaboration with partners Furesia and Symbio, Stellantis will use a medium-performance solution that includes a 45 kWh hydrogen cell system, a 4.4 kg hydrogen tank, and a 10.5 kWh running battery. Read More>> Wabtec’s USD 400 Mn acquisition of Nordco The acquisition is a strategic addition for Wabtec as it is projected to deliver over USD 10 Mn in cost synergies over the next three years. Read More>> FAW Mazda’s business said to merge with Changan Mazda Besides the combination on the level of the dealership, Changan Mazda will take over the production of vehicle models like the Atenza. The restructuring may expectantly finish before June 2021. Read More>> Hitachi Rail acquires digital tech firm Perpetuum With the deal complete, Perpetuum’s digital solutions will further improve, optimize and expand the technology’s application across Hitachi’s global transportation portfolio. Read More>>Partnerships Cogniac, Doosan Bobcat partner on Warehouse AI tech Cogniac Corporation, a California-based AI image and video analysis provider partnered with Doosan Bobcat to implement Cogniac’s proprietary visual data processing platform within the manufacturing warehouse kitting inspection process. It will increase operational efficiencies, boost productivity, and reduce material handling times. Read More>> Nio confirms battery-swap station partnership with Sinopec The new swap station will enable users to start a self-service swap with one tap on the center display without getting out of the vehicle. Read More>> Hyundai Motor, Samsung SDI forming battery partnership The partners will develop each company’s strategic interests: Hyundai Motor needs EV batteries and automotive components, while Samsung can provide them. Read More>> Hyundai partners with Uber to supply EVs in Europe The strategic partnership will promote EV adoption and expand the EV charging infrastructure in major European cities in France, Britain, and the Netherlands. Read More>> French five in e-mobility software and data alliance STMicroelectronics, Atos, Dassault Systems, Renault, and Thales will pool their expertise, the five plans to develop and market together systems and software to provide an enriched and sustainable mobility offer for cities, regions, businesses, and citizens. Read More>> Renault joins Veolia & Solvay in electric vehicle battery recycling consortium Renault’s position and experience in circular economy and the life cycle of EV batteries will lead to a ‘highly complementary partnership.’ It will benefit from Solvay’s expertise in the chemical extraction of battery metals and Veolia’s experience in lithium-ion battery dismantling and recycling via a hydrometallurgical process. Read More>> Aurora, Volvo partner on self-driving heavy trucks Volvo’s autonomous solutions unit will work with Aurora toward deploying trucks without drivers on highways. The two companies envision trucks operating in a hub-to-hub model with full self-driving on expressways between transfer hubs. Read More>>Executive Movement Toyota promotes veteran execs Murtha, Ingle to new roles Doug Murtha, recently a group VP for corporate strategy and planning, is now the group VP and chief business information officer for information technology. Tim will assume the new role as group vice president for enterprise strategy. Read More>> Hitachi Comark Promotes Michael Anderson to COO He will be responsible for the day-to-day administrative and operational functions of Hitachi Comark and will report to President and CEO Matsuzaka Toshihiro. Read More>> Ford CEO Jim Farley nominated to the Harley-Davidson board of directors Farley is the only new board nominee. If approved, he would join executives with diverse corporate backgrounds, including Levi Strauss, Ocean5, Starbucks, the Bill & Melinda Gates Foundation, ABB Robotics, and the Cummins engine and technology company. Read More>> Edsel B. Ford II retiring from the Ford board of directors Edsel B. Ford II will retire from the Ford Motor Company’s board of directors next month. Currently a member of the Finance Committee and Sustainability and Innovation Committee, Ford leaves after serving on Ford’s board for 33 years. Read More>> McLaren Automotive appoints Market Director for the Middle East and Africa Mohamed will be spearheading McLaren’s local operations from the brand’s Regional Office, based in Bahrain. Read More>>Center setup and expansion Mahindra opens new parts warehouse in Gauteng The new warehouse will have technology that can track all parts in real-time, create a paperless environment, and quickly receive warehouse staff to receive, fill, and dispatch orders. Read More>> Ashok Leyland to carve out two new units to strengthen green transport solutions The first unit, Switch Mobility Automotive Ltd, will carry on India’s electric vehicle strategy and forms part of its global entity. The second subsidiary, OHM Global Mobility Pvt Ltd, will provide mobility as a service offering. Read More>> Geely PH launches two new virtual dealerships SGAP has announced that its new virtual showrooms are now officially open to cater to its customers amid this enhanced community quarantine in Greater Manila. Read More>>Deals and Deal renewals Romeo Power to supply Peterbilt, Kenworth, and DAF electric truck batteries Under the agreement, Romeo Power will act as the battery supplier for Peterbilt 579 and 520 BEVs in the United States and Canada through 2025. Production may begin after 2021. Read More>> Israel signs tech innovation agreement with auto giant Stellantis The Israel Innovation Authority (IIA) and Stellantis signed a cooperation agreement in technological innovation, intending to create a framework for assistance for jointly approved cooperation projects in innovation between Israeli entities and Stellantis. Read More>> SK Hynix negotiating automotive DRAM supply deal with Bosch The South Korean chipmaker is pursuing a 10-year supply deal. The potential contract’s value was unknown. Read More>>
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