Polestar to partner with StoreDot to develop rapid silicon-based EV battery technology

Key Signals in Automotive

Centre Setup and Expansion
Ellesmere Port expansion for Stellantis with a new unit 
Approval has been granted for constructing a new UK parts distribution center for Stellantis, parent of the company of Vauxhall, in Ellesmere Port. The development includes three-storey office accommodation with a two-storey hub and will be built off West Road. Read More>>
Polestar Scottsdale now opens at Scottsdale Fashion Square 
The new showroom features some of Polestar’s latest luxury models and opportunities to evaluate drive. The new retail location in Scottsdale is the first Polestar showroom in Arizona, giving locals the first experience with the new EVs. Read More>>
Suzuki Motorcycle India to set up a manufacturing facility in Haryana 
The company announced that it would set up a manufacturing facility in Haryana. The site is in the same location as the 800-acre plot allotted to carmaker Maruti Suzuki in the Industrial Model Township in Kharkoda in the Sonipat district of Haryana to set up a manufacturing facility. Read More>>
Wabtec wins significant contract to supply over 2,300 doors for Sao Paulo passenger trains 
The company has won a major contract to supply onboard doors for passenger trains in Sao Paulo, Brazil’s largest city. The company will provide 2,304 doors to Alstom, building thirty-six eight-car Metropolis trains for So Paulo Metropolitan Train System lines 8 and 9. Read More>>
Scania and Einride sign a deal to accelerate the electrification of road freight with a fleet of 110 trucks 
The 110 trucks mark the largest order of heavy-duty electric trucks to date for Scania, kicking off a collaborative product development partnership with Einride. The Swedish freight technology company Einride, a leading provider of end-to-end digital, electric and autonomous shipping solutions, will begin the rollout of 110 Scania trucks in 2022. Read More>>
Maruti Suzuki, Haryana ink pact for Sonepat plant 
The company signed an agreement with the Haryana State Industrial and Infrastructure Development Corporation to allot land to set up a car manufacturing unit on eight hundred acres at the industrial model township Kharkhauda in Sonepat. Read More>>
DERMALOG and Rheinmetall join forces for increased vehicle security 
The companies entered a new joint venture together of Rheinmetall Dermalog SensorTec GmbH. This new company will supply the most innovative biometric technologies to vehicle manufacturers in the future. Read More>>
Polestar and ultrafast battery maker StoreDot form a strategic partnership 
The companies entered a strategic partnership. Polestar, which will invest in StoreDot, will investigate using StoreDot’s extremely fast-charging silicon-dominant batteries in future Polestar cars. Read More>>
Mergers and Acquisitions
Valeo Networks acquires Next I.T. 
The company acquired Next I.T., a Michigan-based Managed Service Provider. A recognized and highly respected MSP, Next I.T. is the sixth and largest acquisition for Valeo Networks. It further supports its goal of building a national network of IT and cybersecurity experts to support and protect its client base comprehensively. Read More>>
Apple could acquire Canoo EV start-up 
An electric vehicle company may be ready for acquisition by the Cupertino-based IT behemoth. While it has received new finance, Canoo has also stated that it doubts it will be able to create as many vehicles in 2022 as it had projected. In 2020, Apple was in talks to potentially acquire Canoo. Read More>>
Executive Movement
BMW North America names new CFO, VP of Marketing 
The company named Raymond Wittmann to be its next CFO and Marcus Casey to become head of marketing communications, replacing a pair of executives taking posts with BMW in Europe. In September, Wittmann, 50, replaced Stefan Kramer, executive VP and CFO. Read More>>
Lordstown Motors appoints Ninivaggi to the dual role of CEO/Chairman 
The company appoints Ninivaggi to the dual role of CEO/Chairman. The appointed current CEO Daniel Ninivaggi to Chairman of the Board of Directors. The combined duties took effect immediately following the company’s annual stockholders meeting. Read More>>

Latest Industry Insights from Draup Braindesk

  • Toyota Kirloskar Motor develops hybrid electric vehicles for the electrification of mobility. 
  • The firm is keen to improve the adoption of various xEV technologies like self-charging hybrid vehicles, plug-in hybrid vehicles, battery vehicles, and fuel cell electric vehicles to lead to mass electrification with Make in India and global markets. 
  • Toyota Kirloskar Motor enhances production capacity at the Bidadi, India, manufacturing plant to develop various models and bolster its presence in small cities, towns, and rural areas. 

Key Funding Alert

Hyundai Motor Group plans to invest USD 16.5 Bn in the S. Korea EV business 
The South Korean auto group, which houses Hyundai Motor Co and Kia Corp, plans to annually build 1.44 million units of EVs in South Korea by 2030. Hyundai plans to build a new EV manufacturing plant in the U.S. state of Georgia. Read More>>

Startup Spotlight

Company –  StradVision
Total Funding – USD 90.63 Mn
About: StradVision provides an embedded perception algorithm for advanced driver assistance systems and autonomous vehicle use cases. With its production-ready ADAS SW IP platform using camera-based perception AI or LiDAR, StradVision aims toward its future road map to autonomous driving. Read More>>
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