Veoneer and Arbe to co-develop perception-enhancing automotive radars

Key Signals in Automotive

Centre Setup and Expansion
Magna expands its presence in India and invests in a new engineering center at Bengaluru 
Magna is investing USD 120 Mn to operate the new engineering center to support e-mobility. The new center will be a key center in powertrain electrification, electronics, and software-defined vehicle development. Read More>>
Kia invests in a new car care center in Narahenpita 
Kia’s new car care center in Narahenpita will have service infrastructure despite the serious challenges confronting automobile importers in Sri Lanka. The new center comprises facilities for lubrication services, a detailing studio, a retail outlet for detailing products and accessories, a spare parts outlet, etc. Read More>>
BMW unveils a new multi-million-dollar training facility 
BMW unveiled a new, cutting-edge training facility to keep up with the trends. It took a step into the future of technology by opening its new USD 20 Mn training facility. For 30 years, the multi-billion-dollar facility has called Spartanburg County home. Read More>>
Tenneco to supply Monroe Intelligent Suspension technology for Li Auto Electric SUV 
Tenneco will supply the electronic suspension technology for the upcoming L9 electric luxury SUV from Li Auto. Tenneco’s Advanced Suspension Technologies (AST) business will manufacture Monroe Intelligent Suspension CVSAe electronic dampers for the new luxury model. Read More>>
LG Energy Solution and Posco Holdings signed a battery-material MOU 
The agreement sets out a framework for a contract in which Posco Holdings will supply cathode and anode materials to LG Energy Solution starting this year. The company will share how much cathode and anode materials it plans to purchase for the next seven years. Read More>>
Tech logistics startup COGOS ties up with Maruti Suzuki to promote ‘driver-cum-owner model’ 
Maruti Suzuki will help COGOS provide easy adoption of compressed natural gas (CNG) vehicles amongst the driver partners of COGOS. This initiative is a first in the logistics sector and is available for CNG vehicles to promote sustainable and green logistics. Read More>>
Volvo and FlixBus enter an agreement 
Volvo and FlixBus will collaborate to develop more sustainable coach travel by making fleet development easier for FlixBus partner operators. The cooperation is intended to support operators by lowering the efforts required on the operators’ side during vehicle procurement. Read More>>
Veoneer partners with Arbe to expand the boundaries of High-Performance Perception-Level automotive radars 
Veoneer and Arbe will co-develop radars for automotive-grade safety and roll out autonomous functionality. After five years of extensive research among technology start-ups, Veoneer has partnered with Arbe for their 2K high-resolution industry-leading surround radar, enhancing the perception system and sensor fusion. Read More>>
Executive Movement
Scania Australia appoints new director of truck sales 
Scania Australia appointed a 12-year Scania veteran, Benjamin Nye, the director of truck sales. After 20 years and a successful career with the truck manufacturer, Dean Dal Santo bids farewell to Scania. Read More>>
Navistar appoints Fabio Souza as Executive Vice President of Service Solutions 
Fabio Souza has been appointed Executive VP as of August 2022. Souza is part of Navistar’s Executive Board and reports to Mathias Carlbaum, President and CEO. Navistar has continuously emphasized the service solutions and digitalization areas of its business. Read More>>
Financial and Market Activity
Geely Automobile celebrates 26% YoY jump in Sept. sales 
Geely Automobile sold 130,528 vehicles in the past month, summing up to a cumulative volume of 989,638 from January to September, which climbed up 7% from a year ago. Specifically, the Geely brand sold 101,533 vehicles in the past month, indicating a 15% increase from the earlier year. Read More>>

Latest Industry Insights from Draup Braindesk

Key Funding Alert

Suzuki launched a venture capital fund with an investment of EUR 100.6 Mn (USD 102.8 Mn) 
Suzuki Global Ventures (SGV), based in Silicon Valley, will accelerate co-creation activities between Suzuki and emerging companies, creating new businesses and business models. Thus, Suzuki intends to make investments that address the problems faced by customers and society worldwide. Read More>>

Startup Spotlight

Company – Phantom Auto
Total Funding – USD 61 Mn
About: Phantom’s software enables people to remotely operate, assist, and supervise vehicles from thousands of miles away, including forklifts, robots, trucks, and more. Phantom serves transportation and logistics customers to increase safety, labor accessibility, and productivity. Read More>>
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