Volkswagen takes huge step towards carbon-neutral mobility with EIT InnoEnergy partnership
Key Insights and Signals in Automotive
Centre setup and Expansion Rivian expands into fleet business beyond its ‘exclusive’ Amazon deal Amazon holds a 20% stake in Rivian and will start taking orders for its electric delivery vans in 2022, with plans to deliver them to customers by early 2023. It will also sell fleet versions of its R1T electric pickup and R1S electric SUV, which widens the customer base beyond the consumer adventurer that Rivian has been targeting. Read More>> Tesla to open Canada battery gear factory in Markham, Ontario In 2019, the U.S. electric carmaker acquired Canada-based Hibar, which manufactures pumps used in fast-speed battery assembly that Tesla is introducing for its new 4680 cells. Read More>> Navistar’s Fleetrite parts further expand retail locations The company announced that its all-makes and models aftermarket truck and bus parts brand, Fleetrite® truck parts, has opened five more retail locations in the US through partnerships with the International® and IC Bus® dealer network. Fleetrite’s sites provide an expansive line of products to ensure customer access and improved uptime. Read More>>Deals REE selects American Axle for electric drive technology for REEcorners The electric drive units will be developed at AAM’s Advanced Technology and Development Center in Detroit, with the delivery of prototypes planned by the end of 2021, with full volume production expected by 2024. The initial integration will be for prototype builds for a US-based delivery van program. Read More>> Manz to set up battery production lines for BMW Manz has been awarded the contract to set up a battery production line at BMW’s Parsdorf site near Munich. The order includes equipment for coating the electrode material and assembling battery cells. Read More>> BorgWarner to supply European OEM with SiC inverters for new electric vehicles The contract extends an existing ten-year relationship by giving IBM Global Business Services additional responsibility for procurement operations. The integrated finance and intelligent procurement workflow are designed to enable cost savings, productivity improvements, and improved service levels to Honda’s suppliers and customers on a resilient platform. Read More>> Ansys selected by Panasonic Automotive to streamline functional safety analysis for Future Mobility Technology Panasonic Automotive directly engaged with Ansys technical teams to create formalized training and best practices to support future process certification initiatives. Leveraging Ansys model-based engineering and simulation solutions, Panasonic Automotive achieved ISO 26262 ASIL-D process certification. Read More>>Mergers and Acquisitions Tesla confirms acquisition of battery startup in new patent The company acquired Colorado-based battery startup SiILion, Inc., in a new patent for a silicon-based battery anode. The startup was working on new high-energy-density battery chemistry based on “high-loaded silicon anodes.” Read More>> Minda Corp acquires Stoneridge Inc’s 49% share in electronics JV Minda Corporation acquired its joint venture partner Stoneridge Inc of the USA’s 49% stake in Minda Stoneridge Instruments. It will also expand its technical collaboration with Stoneridge Inc. Read More>> EV maker Bedeo acquires Protean from Evergrande’s auto unit Bedeo is buying Protean from National Electric Vehicle Sweden, a unit of Evergrande New Energy Vehicle Group. With this acquisition, Protean can meet the burgeoning demand from existing and new customers. Read More>> Brembo completes acquisition of J. Juan With this transaction, Brembo will become a trusted solution provider. The acquisition of J.Juan enables the Group to complete its range of solutions for the motorbike braking system and expand its brand family for the growing motorbike sector. Read More>>Partnerships For carbon-neutral mobility, Volkswagen enters a strategic partnership with EIT InnoEnergy Both companies are investing to help innovative technologies and business models achieve economic breakthroughs. It will decarbonize transport and accelerate the shift to electromobility. Read More>> Nissan ties up with Zoomcar, Orix for its vehicle subscription model The Nissan Intelligent Ownership subscription plan covers all maintenance costs, including scheduled and unscheduled repairs, tire and battery replacement, 24×7 roadside assistance, cost of paperwork, zero depreciation insurance, registration fee, road tax, and RTO expenses. Read More>> MG Motor India partners with CamCom for AI-based vehicle assessment The company is betting on the power of partnerships to introduce tech as a differentiator. The OEM has announced a new collaboration with Bangalore-based startup – CamCom, which will facilitate AI-enabled and image-based vehicle inspection processes and automated assessment of cars reported for service and repair at the MG service center. Read More>> Daimler Mobility and Visa form global technology partnership to integrate digital commerce into the car seamlessly and conveniently Daimler will offer “native” in-car payments with Visa’s Delegated Authentication technology. Entering passwords or relying on mobile devices for payment authentication may be a thing of the past as the vehicle becomes a biometrically enabled payments device. Read More>>Executive Movement Varroc Lighting Systems appoints Christian Paschel as CEO Paschel joins Varroc Lighting Systems from Hella, where he was previously a member of the Executive Board and Head of Sales in the Automotive Lighting Division. He has over two decades of experience in the automotive industry, particularly in the lighting and electronics sector. Read More>> Royal Enfield appoints Mohit Dhar Jayal as its Chief Brand Officer Mohit will lead the creative and strategic thinking for brand and marketing functions to curate and further cement brand love and associations in the minds of the global consumer. Mohit Jayal has been associated with Royal Enfield in the past and played a crucial role in designing the blueprint for the company’s modern brand identity as an external partner between 2004 and 2014. Read More>> Former Huawei autonomous driving R&D head joins Geely’s ZEEKR Chen Qi, one founding member of Huawei’s autonomous driving team and former director of the autonomous driving R&D department of Huawei’s Intelligent Automotive Solution Business Unit (IAS BU), was named as vice president of ZEEKR. Read More>> Faraday Future appoints Walter J. (“Chuck”) McBride as Chief Financial Officer Mr. McBride brings extensive experience overseeing capital markets activity and managing financial and accounting infrastructure. He has overseen growth across a wide range of public and private organizations by strategically expanding on existing competencies while ensuring that internal systems are poised to manage rapid expansion. Read More>>
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Scania focuses on developing battery and hybrid electric systems to reduce operating costs, noise, and pollutants.
Scania is keen to develop Advanced Driver Assistance Systems (ADAS), which helps avoid the need for sudden braking and delivers a comfortable ride for passengers and drivers.
Consulting & System Integration, Product Engineering Services, Infrastructure Management Services contribute to 69% of the total outsourcing segments.
Application Development & Maintenance, Digital Services, Reporting & Analytics contribute to 31% of the total outsourcing segments.
Key Funding Alert
Nuro raises USD 600 Mn from investors including Kroger and Google
Nuro will use the funds to build a closed-course test track and manufacturing facility to refine and develop its third-generation autonomous vehicle, a fully scalable model. Nuro is spending USD 40 Mn on the new facilities, which are in Nevada. Read more>>
Startup Spotlight
Company – BaseTrack Total Funding– USD 2.2 Mn About: The first demonstrated all-weather autonomous driving on public roads. It was the first company to put an all-weather automated truck on public roads. Since 2018, BaseTracK has been developing all-weather automated driving solutions based on the concept of “Virtual rails.” Read more>>
Latest Reports Published in Draup
Maruti Suzuki Account Intelligence Report: Maruti Suzuki is developing an online finance portal that empowers customers to transform their car buying experience with a host of options, including real-time loan status tracking. It has a focus on non-urban markets, increasing sales by 2.5% to 40.9%. Read More>>
Scania Account Intelligence Report: Scania is developing battery and hybrid electric systems to reduce operating costs, noise, and pollutants. It is working on retail distribution, battery cooling components for its battery management units, electric air compressor, etc. Read More>>
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