OCTO Telematics extends its data streaming partnership for connected cars with Ford
Key Signals in Automotive
Centre Setup and Expansion Skoda to build a plant in Vietnam The company is set to build a plant in the northern province of Quang Ninh and expects to begin production and export of vehicles by 2023. The company leaders have worked with representatives of the Ministry of Industry and Trade on the plan. Read More>> Jidu Technology (Baidu & Geely JV) sets up new headquarter in Beijing The company has set up its new headquarter in the high-end industry section of China (Beijing) Pilot Free Trade Zone in Yizhuang town, Daxing district. Baidu and Geely established a joint venture, Jidu Auto, in Shanghai with a total registered capital of 2 billion yuan, Baidu holding 55% and Geely 45%, and CEO Xia Yiping. Read More>> Ashok Leyland to set up a manufacturing facility for electric vehicles Hinduja Group’s flagship Ashok Leyland’s new manufacturing facility will roll out electric vehicles. The Chennai-based firm has also lined up a Rs 500 crore (USD 66 Mn) investment to develop powertrains based on alternative fuels like CNG, hydrogen, and electric for its commercial vehicles range. Read More>> Nissan to invest USD 500 Mn to make new EV models at Mississippi plant The company will invest in transforming its assembly plant in Mississippi into a key production base for electric vehicles in the United States to manufacture two new all-electric models, including in the luxury Infiniti brand beginning in 2025. Read More>>Partnerships Hyundai Motor and Shell team up on sustainability and environmental purpose Hyundai Motor signed a MOU with Royal Dutch Shell to jointly pursue electric mobility and net-zero carbon emissions. The companies will build electric vehicle (EV) chargers for Asian countries expected to see rapid growth in EV demand. Hyundai Motor will adopt Shell’s technologies to have its global manufacturing facilities 100% powered by renewable energy by 2045. Read More>> OCTO Telematics and Ford Motor Company partner for accurate data management of connected cars in Europe OCTO’s agreement with Ford will extend its data streaming partnership into Europe. By leveraging Ford’s connected vehicle data, OCTO will enhance its market-proven telematics services in insurance and analytical services in the UK, Italy, Germany, France, Spain. Read More>> Hero and BPCL collaborate to establish EV charging stations The companies announced their collaboration. The industry giants have joined their forces to set up charging infrastructure for two-wheeled electric vehicles (EVs) across the country. Read More>>Executive Movement BMW GB names head of future, Retail The company announced several management changes within its UK sales division, including a new post for GM of Future, Retail. With recent market developments, changing customer behaviors, and an increasing focus on digital customer interaction, BMW has identified a new role within the organization. Read More>> General Motors appoints Shilpan Amin to Lead GM International The company announced the appointment of Shilpan Amin as GM senior vice president and president. Amin replaces Steve Kiefer, who has elected to retire after almost 40 years in the auto industry. GM International consists of GM’s global operations outside North America and China. Read More>> Peter Schreyer appointed Hyundai Motor Group’s Executive Design Advisor Hyundai appointed Peter Schreyer, President and Head of Design Management, as an Executive Design Advisor and brand ambassador for the corporation. The new role will see the visionary designer extend his monumental 16-year history with the Group, having joined in 2006. Read More>>Mergers and Acquisitions Tenneco to be acquired by private equity firm Tenneco was acquired by private equity firm Apollo Global Management Inc. in an all-cash transaction with an enterprise value of USD 7.1 Bn, including debt. The purchase price (UD 20 per share) represents a 100.4% premium over the closing share price of USD 9.98. Read More>>
Latest Industry Insights from Draup Braindesk
Toyota Account Intelligence Report:
Strengths: Toyota holds a strong position in the electric vehicle market and initiated its broader vision to develop autonomous mobility solutions across its electric vehicle lineup. Toyota is keen on communication platforms to build a next-generation connected vehicle operations and management system. Opportunities:
The estimated market opportunity for the global electric vehicle market expects to grow by 2027. There is more opportunity for service providers who can contribute to developing the electric vehicle platform and autonomous driving solutions. Threats:
New rapid and significant technological changes, frequent new product and service introductions, and expansion of data centers by a few competitors within the automotive industry poses a threat to Toyota.
Key Funding Alert
Sweden’s Volta raises USD 260 Mn at a USD 490 Mn valuation to get its all-electric trucks into production
Volta will use the fund to work on engineering and business operations ahead of its first trucks rolling off the assembly line to fulfill orders from customers. Volta’s broader business strategy will be based both on selling trucks and offering its vehicles on a trucking-as-a-service model. Read More>>
Startup Spotlight
Company – Voltz Motors Total Funding – USD 27.35 Mn About: Voltz Motors is a Brazilian electric motorcycle company. Its motorcycles run at a top speed of 60 km/hour. When they’re out of juice, the bike’s lithium battery can be removed from the actual motorcycle and charged where there’s an available power outlet. Read More>>
Latest Reports Published in Draup
Adient plc Account Intelligence Report: Adient manufactures auto parts, designs, manufactures, and markets a range of seating systems components for passenger cars, commercial vehicles, and light trucks. It develops products bringing the latest vehicle safety development. Read More>>
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