04 Mar 2021Automotive
This week in Automotive: Battery-tech and sustainable smart mobility rules automotive innovation

Latest Reports Published in Draup

The automotive software analysis report: The focus on development of ACES (autonomous, connected, electrification, and shared mobility) trends has led to the rise of autonomous cars and connectivity applications. Mechanical, infotainment and car electronics are the major areas of automotive software applications. Read More>>
Preh account intelligence report: Preh is keen to develop a human interface solution to explore opportunities for direct interactions for service providers. It intends to provide sensor, autonomous, and human-interface solutions to offer next-gen solutions for customers. 
Read More>>

Key Funding Alert

Actasys sets aside USD 5 Mn venture capital fund to commercialize automotive sensor clearing system
The lead ActaJet™ product is for the cleaning and clearing sensors on vehicles and smart mobility systems to achieve higher levels of assisted driving (ADAS) and, ultimately, autonomous operation. Actasys is working with Volvo cars to develop an ActaJet sensor cleaning system for use on Volvo cars.
Read More>>

Startup Spotlight

Company – Gegadyne Energy
HQ Location – Mumbai Area, India
Total Funding – USD 5 Mn
Type – Automotive
About: Gegadyne Energy is a Mumbai-based electric vehicle (EV) and energy storage company. They are working on a new era of sustainable mobility with a world-class performance energy system that is inevitably electric and seamlessly connected.
Read More>>

Key Insights and Signals in Draup

Mergers and Acquisitions
Daimler to split into two companies 
The company will split into two independent companies by spinning off its truck and bus division as Daimler Truck and eventually renaming Daimler as Mercedes-Benz, the brand name under which it sells luxury cars. Read More>>
Audi Australia to merge with Volkswagen Group 
The two companies will unite as a single, stronger national sales company. Subject to final approval by the parent companies in Germany and locally by the Foreign Investment Review Board, the change process for the merger will effectively commence in May. Read More>>
Hella to sell its 50% shares in Mando Hella Electronics to Mando  
The partners have now signed a corresponding agreement and expect the transaction to close in the first quarter of the calendar year 2021, with the price being around EUR 60 Mn (USD 73 Mn). Read More>>
BorgWarner agrees to acquire AKASOL AG 
The acquisition will strengthen its commercial vehicle electrification capabilities to meet industrywide demand. The cash offer represents approximately 23% premium to AKASOL’s three-month volume-weighted average share price, values 100% of AKASOL’s equity at roughly EUR 727 Mn. Read More>>
Chinese EV maker Byton seeks to go public via SPAC 
Byton is in talks to go public via a merger with a special purpose acquisition company (SPAC). The news follows Taiwan’s Hon Hai Precision Industry (OTC: HNHPF), known as Foxconn, to invest in Byton to help its vehicle production. Read More>>
Partnerships
Goldman Sachs creates joint venture for autos technology deals 
The joint venture will be catering to auto technology clients like Tesla Inc. and new electric-vehicle manufacturers. San Francisco-based technology banker Chris Buddin and New York-based industrial banker Fausto Monacelli are the co-heads of the autotech effort. Read More>>
Toyota partners with The Leadership Network to launch a VR Masterclass on The Toyota Way 
The executive Masterclass “Leading the Toyota Way” in Virtual Reality (VR) will help executives build a sustainable roadmap towards optimized operations based on Toyota’s world-renowned Lean practices. Read More>>
Michelin India Tech collaborates with IIT Bombay- Monash Research for sustainable mobility  
The five-year partnership will see several projects envisaged for development in the mobility space in India. Read More>>
Executive Movement
John OLeary appointed President and CEO of Daimler Trucks North America   
As a member of the board of management, John O’Leary is responsible for the North American region and the Brands Freightliner, Western Star, Thomas built buses. Read More>>
Honda picks R&D Chief Mibe as the new CEO 
Japan’s second-biggest automaker by sales will announce the decision after a board meeting. Mibe joined in 1987 and took part in engine development. He is also in charge of intellectual property and standardization. Read More>>
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