Ford and Volkswagen Alliance Aims for a Win-Win in Commercial Vans and Medium Pickup Trucks Arena
AAITF will take place in Shenzhen, China in February 2019
Karma Automotive And Pininfarina Form Partnership
Alliance Ventures Invests in Tekion, the Next-Gen Digital Cloud Platform for Automotive Retail
INGDAN.com Partners with Toyota to Build New Smart Car Ecosystem That Will Empower Technology Upgrades Across the Automotive Industry
Lear Accelerates the Pace of Innovation with the Launch of Lear Innovation Ventures (LIV) Possibilities
Malaysian Automotive Market Recovers to reach 609,700 units in 2019, notes Frost & Sullivan
GAC Motor Unveils Concept Car ENTRANZE at NAIAS 2019
Seeing Machines to showcase Driver Monitoring System at Automotive World 2019
Unicorn company of high-precision map in China might overrun Autonomous Driving industry in Europe and America
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2019 NAIAS Debut: ENTRANZE to the Future Mobility
GUANGZHOU, China, Jan. 10, 2019 /PRNewswire/ -- Chinese automaker GAC Motor is returning to the 2019 North American International Auto Show (NAIAS) from January 14 to 28 in Detroit. The company will host a press conference at 1:40 p.m. on January 14, 2019, at their exhibition space in Hall B of Cobo Center. The theme of GAC Motor's NAIAS exhibition this year is "Vision Unlimited." The Jan. 14 press conference will feature the world premiere of the new concept car ENTRANZE and the first appearance in North America of the brand's latest minivan GM6 and the all-new GS5 SUV. Key visual of GAC Motor in 2019 NAIAS Developed by GAC's Advanced Design Center in Los Angeles, the ENTRANZE Concept, which will debut at the 2019 NAIAS, is defined as a hyper-modern family vehicle and equipped with the latest intelligent system technologies, sustainability features and automated driving. The ENTRANZE Concept explores more possibilities for the modern family vehicle by taking a 7-seater SUV and adding lots of technology and ergonomics to make driving easier and more pleasurable. The GM6 minivan, recently released in China, is making its first appearance outside China at 2019 NAIAS. It is a smart vehicle designed specifically to meet family travelling needs and emphasizes spacious seating. It has a five-star safety package, an AI-enhanced intelligent driving system and features an industry-leading 99 square feet of extra-large cargo space. GAC Motor’s GM6 Minivan The technologically-advanced medium- to high-end SUV GS5 will show up in the show too. First unveiled at the Paris Motor Show 2018, the all-new GS5 adopts GAC Motor's next-generation 1.5T GDI engine delivering a vibrant and exciting driving experience with enhanced performance. GAC Motor GS5 GAC Motor will also display the brand's elite vehicle lineup of SUVs, sedans, minivans and new energy cars including the brand-new GS4 launched in early 2018, luxury SUV GS8, seven-seat minivan GM8, and new energy car GE3. NAIAS is an important stage that bears witness to the internationalization of GAC Motor. Since its first appearance at NAIAS in 2013, the company has kept the global debuts of its start models GS4, GS7, GE3 and GA4 for this stage. GAC Motor has participated in other major international auto shows to promote its presence in oversea markets. In the past year of 2018, besides the NAIAS, the company debuted at Moscow International Automobile Salon (MIAS) and revealed plans of entering the Russian market in 2019, attracting many local distributors to know more about GAC Motor. Without a pause, the company made its first appearance at the Paris Motor Show. GAC Motor unveiled its all-new GS5 SUV and made its first foray into the European market by showcasing the latest premium vehicles, which earn good comments and expectations from local customers GAC Motor has continued to solidify and expand its business in the United Arab Emirates, Kuwait, Saudi Arabia and countries in the Southeastern Asia in 2018. Now the company operates in 16 countries worldwide and keeps exploring ways of stepping into additional markets. With the sale number of 535,168 cars globally in 2018, GAC Motor manages to win a 5.23% year-on-year growth GAC Motor's commitment to quality strengthens every aspect of vehicle making from design and production to auto parts and services, allowing them to be ranked #1 in J.D. Power Asia Pacific's China Initial Quality Study (IQS) for six consecutive years. Hence, GAC Motor are called as "the Best Chinese Car Brand" by customers in oversea markets. GAC Motor is preparing to open a new R&D center in Farmington Hills, Mich., a suburb of Detroit. With its R&D center in Silicon Valley and advanced design center in Los Angeles now up and running, the three centers will place the foundations of GAC Motor's R&D working in North America and solidify its steps to a global company with world-class brand. About GAC MotorFounded in 2008, Guangzhou Automobile Group Motor CO., LTD (GAC Motor) is a subsidiary of GAC Group which ranks 202nd among Fortune Global 500 companies. The company develops and manufactures premium quality vehicles, engines, components and auto accessories. GAC Motor has now ranked first among all Chinese brands for six consecutive years in J.D. Power Asia Pacific's China Initial Quality StudySM (IQS), demonstrating the company's quality-centric strategy from innovative research and development (R&D), manufacturing to supply chain and sales & services. For more information, please visit:Facebook: https://www.facebook.com/GACMotor Instagram: https://www.instagram.com/gac_motor Twitter: https://www.twitter.com/gac_motor Photo - https://photos.prnasia.com/prnh/20190110/2343529-1-a Photo - https://photos.prnasia.com/prnh/20190110/2343529-1-b Photo - https://photos.prnasia.com/prnh/20190110/2343529-1-c
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Neusoft Showcases its Latest Intelligent Vehicle Connectivity Technologies and Products at CES 2019
LAS VEGAS, Jan. 10, 2019 /PRNewswire/ -- Neusoft Corporation ("Neusoft", SSE: 600718), an IT-enabled innovative solution and service provider from China, is once again participating in the International Consumer Electronics Show (CES) 2019, and brings its latest intelligent vehicle connectivity technologies and products to the global audiences, which demonstrates its determination to further accelerating the expansion in the global market. Neusoft is showcasing a series of 30+ automotive technologies and products, as well as its overall Big Car ecosystem that integrates global resources and covers the main stream areas in auto industry, such as smart connectivity, autonomous driving, car sharing and electrification. Among them, Neusoft introduces its new generation Cockpit In-vehicle Infotainment System that features scene-based functions and multi-screen interaction. Before that, Neusoft's first-generation intelligent cockpit system was jointly developed with Intel and FAW-Hongqi, and is the first mass-produced virtualized intelligent cockpit in China and around the world. In addition, Neusoft is also exhibiting: 1) T-Box, a next-generation communication domain controller solution that integrates shark fin antenna and C-V2X/5G/Ethernet; 2) OneCore, a worldwide navigation platform supporting different markets around the world; 3) VeTalk, China's first V2X product; and 4) Neusoft "Cloud-Channel-Terminal" Comprehensive Solutions for telematics security. Neusoft Reach Automotive Technology Co., Ltd. ("Neusoft Reach"), a subsidiary company of Neusoft that provides platforms and key technologies for the next generation vehicles, has released three new products at the show, including: 1) V-Nexus, a new V2X product jointly released with the leading commercial vehicle company Foton; 2) ADAS/ADS Domain controller, the third generation of ADAS products for L3 autonomous-driving and automated parking features jointly released with XILINX; and 3) NeuSAR, an intelligent connectivity operating system software platform, which is the basic software platform and development tools suite for next generation vehicles based on the AUTOSAR Adaptive platform to build the E/E architecture. Neusoft has nearly 30 years' experience in the automotive sector, and its software is running in many top automobile brands worldwide. It has built a global R&D network centered on China, Germany, Japan, and the United States, with 4,000+ engineers. Focusing on smart connectivity, autonomous driving, car sharing and electrification, Neusoft will continuously introduce better technologies and products to serve global customers and contribute to the transformation of the automotive industry. About Neusoft Founded in 1991, Neusoft is the first listed software company in China, and it has been committed to promoting social development and creating better life by leveraging IT innovation. Focusing on software technology, Neusoft provides innovative solutions, products and services to global market in the fields of smart city, healthcare and social security, intelligent vehicles connectivity, and enterprise connectivity. Today, Neusoft has nearly 20,000 employees worldwide, and has established a R&D, sales and service network covering more than 60 cities in China, with subsidiaries in the United States, Japan, Europe, etc. For more information about Neusoft's offerings in the area of intelligent vehicle connectivity, please visit www.neusoft.com/automotive/ View original content:http://www.prnewswire.com/news-releases/neusoft-showcases-its-latest-intelligent-vehicle-connectivity-technologies-and-products-at-ces-2019-300776110.htmlRelated Links :http://www.neusoft.com/en
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Karma Automotive Adds Strength To In-House Marketing Team
- NEW SOCIAL MEDIA & DIGITAL MARKETING DIRECTOR WILL LEAD ALL CONSUMER-FACING MARKETING EFFORTS - KEY ASSIGNMENTS: CREATE INNOVATIVE MEDIA CONTENT TO HELP BUILD LONG-TERM BRAND VALUE IRVINE, Calif., Jan. 9, 2019 /PRNewswire/ -- Ivan Wang, an innovative digital marketing executive accomplished at building strong cross-cultural teams that meet critical business goals, has joined Southern California-based Karma Automotive as Director of Social Media and Digital Marketing to help lead the development and execution of consumer-facing marketing communications strategies, announced CEO Dr. Lance Zhou. "Ivan brings the kind of start-up mindset and diverse experience in global tech and automotive environments we need to build out a world-class in-house marketing team," Zhou said. "Karma continues to attract the kinds of top talent and leadership required to achieve our goals and execute on a solid product plan that spans the next decade." Wang comes to Karma from Faraday Future where he served as Global Director of Social Media and Digital Marketing and was a member of its Global Marcom Strategy Committee, responsible for all of the company's Marketing & Communications projects globally. Prior to his role at Faraday, Wang lead Social Media and Digital Marketing at LeEco, a China-based streaming video and consumer technology company, where he managed content strategy for all external communications for its Asia-Pacific markets. Wang also held roles at Cheetah Mobile, the world's leading mobile utility and content app developer, and Xiaomi Tech, the largest wearable device manufacturer and fourth largest smartphone maker globally. "I'm excited to join Karma and help lead the organization's in-house marketing team and its efforts to create the kind of compelling and engaging content and consumer-facing strategies required to build long-term brand value and support the company's well-funded business strategy," Wang said. "It's important we promote collaboration within the overall marketing communications team to create the right consumer narrative and ensure our story is aligned and coordinated across all external and internal channels." Karma's "Value-Forward" business plan is centered on nurturing and growing a unique luxury electric vehicle niche. The brand is defined by exclusive design and craftsmanship, intuitive and integrated high technology, an owner experience with unrivaled treatment, and personalized customization that allows every Karma vehicle to be special. Zhou's strategy also encourages collaboration with the right business partners to help accelerate technology and product development Wang earned a B.A. in Applied Linguistics and Language Studies from Chung-Yuan University in Taiwan. His new role, which reports directly to Zhou until a pending organizational structure is finalized, illustrates the brand's strong commitment to more proactive and robust marketing communications efforts in both the U.S. and China. "You will see increasing evidence of that in 2019 through our active participation at and around CES, the New York International Auto Show, Auto Shanghai 2019, Monterey Car Week, and AutoMobility LA 2019," Zhou added. Meet Karma Automotive and Karma ReveroKarma Automotive designs, engineers, assembles and markets luxury electric vehicles, all from its Southern California base of operations. Founded in 2014 and employing nearly 1,000 people worldwide, Karma Automotive is committed to elevating and growing the luxury mobility experience for its customers and draws on global relationships and technology partners to achieve this. Named Green Car Journal's 2018 Luxury Green Car of the Year, Karma Revero is a luxury electric vehicle powered by dual electric motors that embodies the company's goals of offering leading automotive design, technology, customization and an outstanding customer experience. Learn more about Karma Automotive and Revero at www.karmaautomotive.com or visit the password-free Karma Newsroom at www.karmanewsroom.com for the latest press releases, videos and images. Logo - https://mma.prnewswire.com/media/620312/karma_Logo.jpg Related Links :http://www.karmaautomotive.com
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Veoneer Appoints Mats Backman as Chief Financial Officer
STOCKHOLM, Jan. 8, 2019 /PRNewswire/ -- Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), the world's largest pure-play company focused on Advanced Driver Assistance Systems (ADAS) and Automated Driving (AD), has appointed Mr. Mats Backman as Chief Financial Officer. He joins from Autoliv where he has held a similar position since 2016. The plan is for Mats to join Veoneer after ensuring a smooth transition of his current responsibilities in Autoliv, at the latest in early July 2019. Mats will replace Mathias Hermansson who, as previously communicated, has decided to seek new opportunities outside the Company. "I warmly welcome Mats to Veoneer. He is a proven leader with a strong track record and I look forward to working together with him to take Veoneer through the next growth phase", said Jan Carlson, Chairman, President & CEO, Veoneer. "I look forward to joining Veoneer. The Company is very well positioned in the growth area of automotive technology. The timing for this transition is good, I get to participate to the next part of the build-up of Veoneer and Autoliv is in a stable situation with a strong finance team", said Mats Backman. This report is information that Veoneer, Inc. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the EVP Communications and IR set out above, at 15:00 CET on Tuesday January 8, 2019. CONTACT: For more information please contact: Media: Thomas Jönsson, EVP Communications & IR, tel +46-(0)-8-527-762-27 Investors & analysts: Thomas Jönsson, Communications & IR, tel +46-(0)-8-527-762-27 Ray Pekar, Investor Relations, tel +1-(248)-794-4537 Veoneer designs and manufactures products and solutions for active safety, autonomous driving, occupant protection and brake control. Our purpose is to create trust in mobility. Veoneer is a new technology company that is building on a heritage of more than 60 years of automotive safety development. Veoneer and its joint-ventures has 8,300 employees in 13 countries. Headquartered in Stockholm, Sweden, Veoneer is listed on the New York Stock Exchange and on Nasdaq Stockholm. Safe Harbor Statement: This release contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Veoneer, Inc. or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations, various assumptions and/or data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements, including general economic conditions and fluctuations in the global automotive market. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any forward-looking statements in light of new information or future events, except as required by law. This information was brought to you by Cision http://news.cision.com http://news.cision.com/veoneer/r/veoneer-appoints-mats-backman-as-chief-financial-officer,c2713949 The following files are available for download: https://mb.cision.com/Main/17380/2713949/973744.pdf PDF
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Jardine Cycle & Carriage Marks 120 Years of Southeast Asian Partnerships
Founded in 1899, listed in 1969 Reinforces its presence as a leading group with diversified interests in companies with a combined gross revenue of US$37.9 billion[1] and 250,000 people across Southeast Asia Jointly celebrates 120th anniversary with Cycle & Carriage, the renowned automotive brand of the Jardine Cycle & Carriage Group SINGAPORE, Jan. 8, 2019 /PRNewswire/ -- Jardine Cycle & Carriage ("Jardine C&C" or "the Group"), a leading Singapore-listed company and a component stock on the Straits Times Index ("STI"), celebrates its 120th anniversary in 2019. Clockwise from top right: (1) Alex Newbigging, Group Managing Director of Jardine Cycle & Carriage; (2) Cycle & Carriage was amongst the first companies in Asia to win a Mercedes-Benz dealership; (3) Jardine Cycle & Carriage celebrates 120 years of partnership in Southeast Asia this year; (4) Today, Jardine Cycle & Carriage is a diversified group with business interests ranging from automotive to infrastructure to financial services and dairy products. Commenting on this anniversary milestone, Jardine C&C Group Managing Director Alex Newbigging said, "Our investments are long-term and strategic in nature. They are rooted in the fundamentals of the industries we invest in and never purely based on short-term metrics alone. Over the past 120 years, we have built a strong track record of investing in companies with robust financial performance, strong leadership, sound governance and long-term potential." Strong financial performance For the first nine months of 2018, Jardine C&C reported an underlying profit of US$675 million, a 14% increase from the year before. The Group closed 2017 with a consolidated revenue of US$17.7 billion and an underlying profit of US$770 million[2]. Deep-rooted presence in Southeast Asia Over the past 120 years, Jardine C&C has withstood the test of time -- through the Great Depression, two World Wars, and the Asian and Global Financial crises. Southeast Asia is today one of the world's fastest growing markets. It is projected to be the fourth largest economy in the world by 2030. Jardine C&C has strategically invested behind Southeast Asia's continued growth through long-term interests in businesses that are fundamental to urbanisation such as infrastructure, cement, power production, and real estate. The Group's consumer-focused interests such as automotive, financial services and dairy products further cater to the emerging ASEAN middle-class segment created by the region's growth. Jardine C&C's most significant interest is in one of the largest Indonesian-listed companies, Astra International ("Astra"). Since 2001, we have been supporting Astra's growth and its contributions have been key to Indonesia's economic development. Astra is a diversified group with core businesses in automotive, financial services, heavy equipment, mining, construction & energy, agribusiness, infrastructure & logistics, information technology and property. Astra has a strong presence in Indonesia's car and motorcycle markets, with 50% and 75% market share respectively.[3] In 2018, to participate in Indonesia's rapidly expanding digital economy, Astra invested US$150 million in GO-JEK. The Group's investment in Indonesia deepened in 2004 with an interest in Tunas Ridean, the second largest automotive dealer after Astra. Jardine C&C expanded its presence in Southeast Asia by entering the burgeoning Vietnam economy in 2008 with an interest in Truong Hai Auto Corporation ("THACO"). THACO has grown from its position as Vietnam's largest automotive company into a diversified group with interests in real estate and agribusiness. The Group increased its exposure in Vietnam in 2012 through Refrigeration Electrical Engineering Corporation ("REE Corp"), a diversified holding company, and in 2017, invested in Vinamilk, the leading dairy producer in Vietnam with 59% market share. Today, Jardine C&C has a 10.6% stake in Vinamilk. Jardine C&C's other diversified interests in Southeast Asia include Siam City Cement, the second largest cement producer in Thailand with a further presence in Vietnam, Sri Lanka, Bangladesh and Cambodia. Our shared heritage with Cycle & Carriage Founded in 1899 as the Federal Stores (later renamed Cycle & Carriage) in Kuala Lumpur, Malaya, as a merchant trading in nutmeg and sundry goods. Later, it sold bicycles and carriages, before becoming the agent for a number of automobile brands. Secured the Mercedes-Benz franchise in 1951 and was the first enterprise to represent this marque in Southeast Asia. The first batch of six Mercedes-Benz cars arrived in Singapore in that same year. Listed as Cycle & Carriage Limited on the Stock Exchange of Malaysia and Singapore in 1969. The reception for its IPO of 33 million shares was overwhelming with 73 times oversubscription. The total offering size of S$241.65 million was just short of the budget of the Singapore Ministry of Interior and Defence for that year. In April 1969, The Sunday Times reported, "The physical magnitude of the mailed application forms was staggering. Stacked in neat bundles of 100 each, and piled three to six tiers high on narrow, seven-foot long tables, the applications for 1,000 shares stretched nearly 120 ft, arranged end to end round the offices of Cooper Bros & Co., the Registrars. Other applications for larger amounts were heaped on the tables in the centre of the room." Apart from being prominent in the automotive sector, in the late 80s and early 90s, Cycle & Carriage Limited also acquired majority shareholdings in established companies such as MCL Land and Cold Storage (Malaysia), and launched its first residential property development -- Hillview Villas -- in Singapore. In 2002, Cycle & Carriage Limited became a subsidiary of the Jardine Matheson Group ("Jardines") and the company was renamed Jardine Cycle & Carriage Limited in 2004. This firmly established Jardine Cycle & Carriage as a member of the Jardines group whilst retaining its shared heritage with Cycle & Carriage. Today, Jardine Cycle & Carriage is a diversified group while the 'Cycle & Carriage' brand is used for its automotive activities in Singapore, Malaysia and Myanmar. With 10 brands under its banner and over 85 facilities, Cycle & Carriage is a leading automotive group and accounts for 25% of Mercedes-Benz passenger cars sold in Southeast Asia. Launch of Cycle & Carriage New Brand Promise: 'Exceptional Journeys' The Group's Cycle & Carriage banner will also be celebrating its 120th anniversary milestone with a new brand promise and tagline 'Exceptional Journeys'. Cycle & Carriage's new brand encapsulates its passion to create people-focused experiences, and underscores its commitment to serving the customers, partners, employees and communities who have been along this journey. As part of the anniversary celebrations, Cycle & Carriage is giving away 120 Exceptional Journeys to enticing destinations (Mongolia, Nepal and Korea) for valued customers in Singapore, Malaysia and Myanmar. [1] Revenue including 100% of revenue from associates and joint ventures for full year ended 31 December 2017. [2] Restated due to changes in accounting policies upon adoption of IFRS 9 'Financial Instruments' and IFRS 15 'Revenue from Contracts with Customers'. [3] As at September 2018. (1) REE Corporation was the first company to list on the Ho Chi Minh Stock Exchange; (2)The Company invests in sectors fundamental to urbanisation such as cement through Siam City Cement in Thailand; (3) Jardine Cycle & Carriage’s most significant interest in Southeast Asia is through Astra International, one of Indonesia’s largest diversified conglomerates; (4)Vinamilk is the leading dairy producer and largest company by market capitalisation in Vietnam. About Jardine Cycle & Carriage www.jcclgroup.com A long-term shareholder of market-leading businesses, Jardine Cycle & Carriage ("Jardine C&C" or "the Group") is a leading Singapore-listed company and a member of the Jardine Matheson Group. Together with our subsidiaries and associates, JC&C employs over 250,000 people across Indonesia, Singapore, Malaysia, Myanmar, Thailand and Vietnam. JC&C has a strategic interest in Astra International ("Astra"), the largest independent automotive group in Southeast Asia. Astra has further interests in financial services, heavy equipment, mining, construction & energy, agribusiness, infrastructure & logistics, information technology and property. The Group also has a strong regional automotive presence through Direct Motor Interests operating in Singapore, Malaysia and Myanmar under the Cycle & Carriage banner, as well as through Tunas Ridean in Indonesia and Truong Hai Auto Corporation in Vietnam. Further diversifying our businesses are Other Strategic Interests in Siam City Cement, Refrigeration Electrical Engineering Corporation and Vinamilk, market leaders in which JC&C gains exposure to key Southeast Asian economies by supporting the long-term growth of these companies. JC&C is 75% owned by the Jardine Matheson Group, a diversified business group focused principally on markets in Greater China and Southeast Asia. Notes to the editor As one of Southeast Asia's leading diversified groups, Jardine C&C has significant interests in the region. Investment Country Shareholding Sector Key Facts Astra Indonesia 50.1% Diversified One of the largest companies in Indonesia by market capitalisation Cycle & Carriage Singapore Malaysia Myanmar 100% 59.1% 50% Automotive Leading automotive group in three Southeast Asian countries with 10 brands Tunas Ridean Indonesia 46.2% Automotive Second largest automotive dealer in Indonesia after Astra Truong Hai Auto Corporation ("THACO") Vietnam 25.3% Diversified Largest private company in Vietnam Refrigeration Electrical Engineering Corporation ("REE Corp") Vietnam 24.9% Diversified First company to list on the Ho Chi Minh Stock Exchange in 2000 Vinamilk Vietnam 10.6% Dairy Largest company in Vietnam by market capitalisation Siam City Cement Thailand 25.5% Cement Second largest cement producer in Thailand, with a presence in Vietnam, Sri Lanka, Bangladesh and Cambodia. Photo - https://photos.prnasia.com/prnh/20190108/2341082-1-a Photo - https://photos.prnasia.com/prnh/20190108/2341082-1-b Related Links :http://www.jcclgroup.com
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Veoneer Achieves Record Full Year Order Intake
STOCKHOLM, Jan. 8, 2019 /PRNewswire/ -- Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), achieved record order intake for the full year 2018. The total lifetime value of the 2018 orders is estimated at $5.9 billion, corresponding to an average annual order value of more than $1.2 billion. This represents growth of around 40% compared to 2017 order intake. For Active Safety, the company's growth engine, order intake almost doubled from 2017, reaching an annual average order value of close to $900 million, corresponding to an Active Safety lifetime order value of $3.8 billion. In line with Veoneer's previous communication, this indicates future market share growth in active safety In Restraint Control Systems, where Veoneer is the market leader the Company noted order intake significantly above its current market share which is estimated to be around 25%. Veoneer's products typically have a lead time of 2-4 years from order to delivery, at which point revenues start to be recorded. To prepare for the strong growth indicated by the 2017 and 2018 order intake, Veoneer has during the same time increased its workforce by around 1,800 persons. Veoneer develops and delivers world leading active safety, restraint control and brake systems products sold to car manufacturers globally. "I am pleased with our order intake for 2018. It marks the third consecutive year of strong order intake growth. This is a strong proof-point for Veoneer as a leading technology company in the automotive industry. Our products are trusted by the leading car manufacturers in the world and our customer list keeps growing. I look forward to working together with the rest of the Veoneer team to create another year of record order intake in 2019", said Jan Carlson, Chairman, President & CEO, Veoneer. This report is information that Veoneer, Inc. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the EVP Communications and IR set out above, at 08.30 CET on Tuesday January 8, 2019. For more information please contact: Media: Thomas JönssonGVP Communications & IRTel +46 (0)8-527-762-27Thomas.jonsson@veoneer.com Investors & analysts: Thomas JönssonCommunications & IRTel +46 (0)8 527 762 27Thomas.jonsson@veoneer.com Ray PekarInvestor RelationsTel +1 (248) 794-4537ray.pekar@veoneer.com Veoneer designs and manufactures products and solutions for active safety, autonomous driving, occupant protection and brake control. Our purpose is to create trust in mobility. Veoneer is a new technology company that is building on a heritage of more than 60 years of automotive safety development. Veoneer and its joint-ventures has 8,300 employees in 13 countries. Headquartered in Stockholm, Sweden, Veoneer is listed on the New York Stock Exchange and on Nasdaq Stockholm. Safe Harbor Statement: This release contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Veoneer, Inc. or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations, various assumptions and/or data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements, including general economic conditions and fluctuations in the global automotive market. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any forward-looking statements in light of new information or future events, except as required by law. This information was brought to you by Cision http://news.cision.com http://news.cision.com/veoneer/r/veoneer-achieves-record-full-year-order-intake,c2713492 The following files are available for download: https://mb.cision.com/Main/17380/2713492/973507.pdf PDF http://news.cision.com/veoneer/i/order-intake-v2,c2554354 Order Intake v2
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Hanvon Technology Will Showcase Automobile Intelligence Interactive Solutions at CES 2019 in Las Vegas
BEIJING, Jan. 8, 2019 /PRNewswire/ -- CES will open on January 8, 2019 in Las Vegas, Nevada, and automobile technical factories will gather at this year's conference with more intelligent technologies that could be used in the automobile industry. The automobile is becoming more technologically advanced and driving has become simpler, safer and more comfortable. Beijing Hanvon Technology Co., Ltd., from China, will be present at CES 2019 to attract the audience's attention. Hanvon Technology provides automobile intelligence interactive solutions. Automobiles are more convenient, more comfortable and more intelligent by using Hanvon suggestions and relying on the continued innovation of Hanvon Technology in this area. Hanvon handwriting input methods including lean inputting, line writing, overlapped writing, and free writing, etc., which are suitable for various kinds of automobile screen, could also help the users input information conveniently. Hanvon has developed the Chinese-English number hybrid input function, which is more suitable for inputting of address information, and the Hanvon inputting method independently owned word bank, which is more fitted into automobile usage environment. It supports more than 70 languages, and has recognize-on-write recognition speed, improved calligraphy beautification experience, brand new keyboard inputting and so on. Hanvon has reached cooperation with multiple famous automobile factories in China and abroad, with an emphasis on automobile intelligent interaction. Hanvon provides solutions with characteristics of strong functions, ultra low memory usage, safety and stability. Hanvon has made continued efforts on enterprises that makes automobiles become smart and understand users more and more.
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Karma Automotive Brings "Value-Forward" Business Plan To CES
- BRAND DEFINED BY LUXURY, HIGH-TECH, CUSTOMIZATION AND TREATMENT- CEO ANNOUNCES NEW MOBILITY DIVISION LAS VEGAS, Jan. 8, 2019 /PRNewswire/ -- Karma Automotive will use a well-funded business strategy, a robust product plan that spans into the next decade, innovative partnerships and other core initiatives to build long-term value for the luxury electric vehicle brand, according to CEO Dr. Lance Zhou who outlined his vision to key news media at the 2019 Consumer Electronics Show. "Karma will continue to deliver distinct luxury electric vehicle experiences through innovative design, technology and personalization," Zhou said. "We will remain true to our unique luxury segment defined by exclusive design and craftsmanship, instinctive and integrated high technology, an owner experience with unrivaled treatment, and customization that allows every Karma vehicle to be truly special." "CHASE Strategy"As part of the "Value-Forward" business plan, Zhou's "CHASE" strategy will acquire and develop key technologies important to connectivity, highest performance, artificial intelligence, shared mobility and platforms, and electrification. His goal is to solidify and grow Karma's place in a unique luxury electric vehicle niche first in the U.S. before expanding to other international markets. The roadmap also encourages collaboration with the right business partners to help accelerate technology and product development. "We are hungry for the right partners and collaborators to help accelerate technology and product development," Zhou said. "Our personalized luxury electric vehicle niche offers an excellent test-bed to prove emerging innovation. One example is BlackBerry QNX. It dominates the car market, but Karma was the first to test and integrate QNX technology to provide secure over-the-air updates." Revero and Aliso Limited EditionBoth the Karma Revero and very limited Aliso Edition are rolling, high-tech expressions of collectible art. Revero is the world's most exclusive grand touring luxury EV and is as visually dynamic as it is exhilarating to drive. A next-generation Revero is being readied for debut at Auto Shanghai 2019 and will land in dealer showrooms during the second half of this year while other luxury electric vehicles have made their way into Karma's future product pipeline. The Aliso Edition is a new and very limited offering that expresses the elegance and fluid lines of its Revero, inspired by the uniquely diverse State of California. Only 15 Aliso Editions will be produced, all individually numbered with unique interior and exterior badging, special exterior paint, interior leather-trim colors, and custom carbon fiber wheels. Karma CustomizationAliso's "Limited Edition" moniker represents Karma's first level of customization, where Design collaborates with Marketing and Sales to customize a limited run of specially-created vehicles for our customers. Additional levels of automotive personalization will soon be added allowing owners to work directly with Karma designers to co-create a vehicle based on their individual taste. Karma's customization team will go one step further and provide unlimited support for clients seeking guided personal and lifestyle design for everything from residential and commercial architecture, business branding, or event look and feel. "Discerning customers now seek to make their clothes, their homes, and their vehicles one-of-a-kind luxury statements," Zhou said. "That's why customization – especially guided customization – is an important element of our Karma brand, and why we are laser-focused on elevating all we do in the areas of luxury, technology, personalization and treatment to a California-inspired art form." Karma Mobility Experiences DivisionKarma's new Mobility Experiences Division is testing the viability of a series of offerings focused on providing personalized and special mobility experiences. Karma will use a small fleet of Reveros and a platform developed by San Francisco-based Ridecell that provides the technology needed to run a standalone or luxury carsharing operation. Initial product offerings will target luxury hotels by offering a Revero to drive during a guest's stay, convenient and instant test drives outside of a dealer environment, mobility experiences at special upscale events and individual loans to key influencers. "Our business and product plan is driven in part by collaborating with partners like Ridecell whose expertise help us accelerate product development, differentiation, and customer experiences that are both personal and special," Zhou said. "Karma's Mobility Experiences Division is geared toward providing high-tech luxury mobility solutions for customers seeking the kinds of special treatment to match their discerning lifestyle." Karma TreatmentKarma's VVIP California Experience illustrates Zhou's belief that ownership needs to be personal and special and becoming part of the brand and connecting with the people that stand behind it. New Karma Revero owners who have taken delivery of their vehicle within the last year are invited to take part in a three-day curated program designed to express the brand's gratitude for being part of its journey. Visiting owners will stay at one of Orange County's top luxury hotels and will visit Karma's Southern California facilities and meet with staff members who will provide rich insight into how our vehicles are designed and created. "Our future is strong and well-funded," Zhou said. "We have the right people in place to achieve our goals, a solid product plan that spans the next decade, a state-of-the-art assembly plant in Southern California, and relationships with the right partners who can help us accelerate technology and product development. "We are the only automaker designing, engineering, assembling and marketing vehicles in Southern California," he added. "We employ nearly 1,000 people at our headquarters in Irvine and innovation and customization center – what others would call an assembly plant – in Moreno Valley. We have 15 dealers and a factory-owned store operating in key markets across the U.S. and Canada." Meet Karma Automotive and Karma ReveroKarma Automotive designs, engineers, assembles and markets luxury electric vehicles, all from its Southern California base of operations. Founded in 2014 and employing nearly 1,000 people worldwide, Karma Automotive is committed to elevating and growing the luxury mobility experience for its customers and draws on global relationships and technology partners to achieve this. Named Green Car Journal's 2018 Luxury Green Car of the Year, Karma Revero is a luxury electric vehicle powered by dual electric motors that embodies the company's goals of offering leading automotive design, technology, customization and an outstanding customer experience. Learn more about Karma Automotive and Revero at www.karmaautomotive.com or visit the password-free Karma Newsroom at www.karmanewsroom.com for the latest press releases, videos and images. Logo - https://mma.prnewswire.com/media/620312/karma_Logo.jpg Related Links :http://www.karmaautomotive.com
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Karma Automotive Forms Mobility Experiences Division
- RIDECELL POWERS KARMA'S STATION-BASED LUXURY CARSHARING PLATFORM - EXTENDS LUXURY EXPERIENCE AND VVIP TREATMENT BEYOND SHOWROOM IRVINE, Calif., Jan. 8, 2019 /PRNewswire/ -- Southern California-based Karma Automotive announced the creation of a new Mobility Experiences Division to help build its long-term brand value and create opportunities for target consumers to enjoy premium hands-on experiences in the luxury electric Revero in settings that match their lifestyle. The new Mobility Division will initially offer short-term rentals of a small fleet of Reveros stationed at luxury hotels in Southern California. Although aimed at the kind of luxury hotels frequented by Karma's discerning customer base, the carsharing model can be expanded to provide other prospective buyers the kind of personal and special VVIP treatment the automaker is known for. "Karma Mobility Experiences provides our discerning target customers the kind of personalized high-tech luxury experience that makes driving and owning a Revero truly special," said CEO Dr. Lance Zhou. "Shared mobility and related platforms are an important element of our well-funded business plan that will also acquire and develop key technologies important to connectivity, artificial intelligence and electrification." Karma has partnered with San Francisco-based Ridecell to provide the technology platform that powers the luxury mobility services program. Customers can use a Karma branded Android or iOS app designed by Ridecell to arrange for their short-term rental and access their assigned Revero located at a convenient luxury hotel location. "Ridecell is excited to be the chosen new mobility platform for the Karma Automotive Mobility Experience Division," said Aarjav Trivedi, CEO of Ridecell. "As Karma Automotive moves into new mobility, Ridecell will provide the platform and market insights necessary to launch a differentiated mobility offering." The new division will be led by Sean Hazaray, Karma Mobility Program Manager, who explained the team plans to provide a series of products focused on various luxury mobility experiences. For example, beyond the initial luxury hotel activation, Karma's Mobility Reveros could also be used to provide personalized instant test-drives outside of a dealership setting, rides and luxury shuttle services at key corporate marketing activations and for targeted influencers and other stakeholders. "Our initial station-based fleets will help us build awareness, enhance our brand image and provide the operational experience we'll need prior to expanding into new markets and business models," Hazaray said. "These luxury mobility experiences also provide Karma the opportunities we need to evolve as an automaker and become more prominent among millennial-friendly culture." Meet Karma Automotive and Karma ReveroKarma Automotive designs, engineers, assembles and markets luxury electric vehicles, all from its Southern California base of operations. Founded in 2014 and employing nearly 1,000 people worldwide, Karma Automotive is committed to elevating and growing the luxury mobility experience for its customers and draws on global relationships and technology partners to achieve this. Named Green Car Journal's 2018 Luxury Green Car of the Year, Karma Revero is a luxury electric vehicle powered by dual electric motors that embodies the company's goals of offering leading automotive design, technology, customization and an outstanding customer experience. Learn more about Karma Automotive and Revero at www.karmaautomotive.com or visit the password-free Karma Newsroom at www.karmanewsroom.com for the latest press releases, videos and images. About RidecellRidecell is on a mission to empower new mobility operators, including OEMs, car rental companies, auto clubs, cities, transit agencies, dealer groups, and private fleets to launch, expand, and maximize the utilization of their own ridesharing and carsharing services. Headquartered in San Francisco, the company provides a new mobility cloud platform for carsharing, ridesharing and autonomous ridehailing. End-to-end integration and automation accelerate time-to-market, enabling Ridecell customers to launch mobility services quickly, operate efficiently, and scale revenues as business grows. Through its acquisition of Auro, Ridecell also provides a comprehensive suite of L4 on-vehicle software, sensors and controls that enable autonomous vehicle operation. Founded in 2009, Ridecell has already processed over 25 million rides and rentals, and has a team of more than 120 professionals in the US, Europe, Asia, and Australia. Ridecell's Series B round is led by Activate Capital and brings together prominent investors including DENSO, Cox Automotive, Munich Re Venture's ERGO Fund, Initialized Capital, LG Technology Ventures, BNP Paribas, Penske, Deutsche Bahn, Mitsui, Sony Innovation Fund, Ally Ventures and Khosla Ventures. The company powers new mobility offerings for several automakers and GIG Carsharing service by AAA. In addition, Ridecell powers dynamic shuttle services for campuses such as Georgia Tech, UC Berkeley, UCSF, 3M, and transit agencies like SouthWest Transit. Logo - https://mma.prnewswire.com/media/620312/karma_Logo.jpg Related Links :https://www.karmaautomotive.com
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P2P Carsharing Companies Widen Portfolio and Footprint by Collaborating with Shared Mobility Stakeholders
Next-generation technologies create growth opportunities for operators by transforming the experience of P2P carsharing, finds Frost & Sullivan LONDON, Jan. 7, 2019 /PRNewswire/ -- Peer-to-peer (P2P) carsharing is disrupting private vehicle usage and travel by filling the gap between traditional carsharing and car rental models. The concept is rapidly gaining currency, as demonstrated by the increase in the number of P2P carsharing operators from 10 in 2009 to more than 50 in 2018. This escalating competition is prompting a series of mergers and acquisitions and technological innovations to boost domestic and global growth. Eventually, by 2030, P2P carsharing is expected to become a part of the larger integrated multimodal network with other shared mobility services such as traditional carsharing, P2P parking, and ridesharing. "Connected cars, steadily growing mobile penetration rate, and the advent of advanced networking technologies such as 5G are likely to enhance P2P carsharing features and services over the next three to five years," said Abhishek Iyer, Mobility Research Analyst. "Artificial Intelligence (AI)-enabled assistants, blockchain-based payments, and smart contracts will also stoke greater demand among the current generation of users while paving the way for new business models." Frost & Sullivan's recent analysis, Strategic Insight into the Global P2P Carsharing Market, 2018, introduces new market segments that have developed to meet evolving customer needs, and discusses how the market is poised for growth. It highlights the key technology trends, interest of automotive OEMs in P2P carsharing, investments and partnerships between P2P carsharing and other business models, and expansion strategies of P2P operators in select regions. The study also includes the various initiatives from investors, governments, transit authorities, technology providers, original equipment manufacturers (OEMs), and new mobility service providers. Finally, it profiles the major participants in the global market and offers strategic recommendations and conclusions. For further information on this analysis, please click here. "OEMs are also showing keen interest in the P2P carsharing concept and are launching their own services as part of their mobility strategy for the future," noted Iyer. "However, state insurance laws, regulations, and rising insurance costs are restraining the market to some extent. Countries such as Germany, on the other hand, are promoting shared vehicles as part of their future ecosystems and are working on policies to support these frameworks." Overall, the P2P carsharing market could potentially cross $4 billion by 2030 if service providers make the most of the revenue opportunities presented by: Introducing P2P carsharing in strategic locations such as those with inadequate public transport systems or a high density of young population (25-40 years olds). Increasing environmental awareness and building trust through community feedback and rating mechanisms, coupled with loyalty or reward programmes. Forming synergies between OEMs and P2P operators to generate new revenue streams. Identifying new areas of innovation and improvement of existing platform to offer more engaging and seamless user experiences. Garnering support from local regulatory bodies and lobbying for the establishment of clear policies. Strategic Insight into the Global P2P Carsharing Market, 2018 is part of Frost & Sullivan's global Automotive & Transportation Growth Partnership Service program. About Frost & Sullivan For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion. Strategic Insight into the Global P2P Carsharing Market, 2018ME26-18 Contact:Kristina MenzefrickeT:+44 (0) 208 996 8589E: kristina.menzefricke@frost.com http://ww2.frost.comRelated Links :http://www.frost.com
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Autus, MediaTek's Automotive Business, Makes Inroads on mmWave, V-ADAS, Telematics and Infotainment for Automotive Market
LAS VEGAS, Jan. 7, 2019 /PRNewswire/ -- MediaTek will showcase its latest technology for its automotive chip brand Autus at CES, the international Consumer Electronics Show. Autus brings innovative solutions to the automotive industry in four major areas including in-vehicle communication systems, in-vehicle infotainment systems, Vision Advanced Driver Assistance Systems and mmWave radar solutions. Since its entry into the automotive chip market, MediaTek has leveraged its R&D capabilities as a leader in the global semiconductor market and its comprehensive technical experience to make inroads with top auto manufacturers and partners. JC Hsu, Corporate Vice President and General Manager of New Business Development Business Unit at MediaTek, said, "With frontier technology for Internet of Vehicles (IoV) and automated driving, MediaTek has combined AI, communication, and sensing with multimedia technology and advanced chip processing technology, to create a complete and highly integrated in-vehicle chip solution for the automotive market. This enables auto manufacturers to develop products at a lower cost and significantly enhance consumers' smart travel experience." Telematics - A Comprehensive In-Vehicle Communication Solution for Internet of Vehicles IoV has entered a period of rapid development, integrating and developing network communication technology, electronic and information technology and automobile manufacturing technology to provide new applications for consumers. MediaTek's Autus platform inherits MediaTek's core strengths in highly integrated system solutions, broad communication technologies, as well as its capabilities to provide comprehensive network connectivity for IoV. The Autus in-vehicle modem is an SoC solution tailored for automotive specifications and delivers stable operation under high temerpature environments to transmit data in real-time and meet safety requirements for driving. Autus telematics and in-vehicle communication technology supports key applications. The Autus carrier aggregation technology maximizes use of network bandwidth and a built-in application processor allows auto manufacturers to offer more add-on services and applications. An integrated hardware security module (HSM) and encryption engine protects network and data security. The highly integrated Autus chip can lower system costs and simplify the system design. Infotainment - Professional Multimedia Technology Brought by Powerful In-vehicle Infotainment System Since automobile systems provide increasingly abundant entertainment options, MediaTek continues to provide automotive manufacturers with the Autus in-vehicle infotainment system. Based on MediaTek's years of R&D experience in various consumer devices and professional multimedia technology, the Autus in-vehicle infotainment system integrates core technologies from its smartphone, tablet, digital TV and Blu-ray portfolio. MediaTek is continuously optimizing multimedia solutions to create products and services tailored to the automotive market. MediaTek's Autus in-vehicle infotainment chip supports independent operation of multiple operating systems and native operating systems. It is compatible with Android and Linux audio visual solutions. It also features a highly flexible audio visual interface that supports different types of monitors. Thanks to the in-vehicle sensors and multimedia channels that provide driving information, drivers and passengers can enjoy a safe travelling experience as well as entertainment. Vision Advanced Driver Assistance System (V-ADAS) - Low Power VPU to Provide a High Level of Functionality MediaTek's Autus solutions include a vision-based driver assistance system – V-ADAS – from the ground up. It uses versatile vision processing units (VPU) to handle large amounts of dynamic visuals, providing a high level of functionality with low power consumption. Together with real-time data collected by vehicle sensors, driving safety can be greatly improved. The Autus V-ADAS system uses machine learning technology to improve detection accuracy and speed, enhance object recognition and tracking capabilities to support lane detection, vehicle detection, pedestrian detection, motion analysis, multi-lens calibration and vehicle peripheral panoramic monitoring, which is truly a traffic assistant for drivers. As a leading global semiconductor company with years of technical experience, MediaTek designs Autus automotive chips with communication, multimedia, edge AI, IoT capacities and more. Together with advanced chip manufacturing processes and mass production experience, MediaTek's Autus platform provides a richer and more comprehensive solution for automobile manufacturers that enhance the driving experience. mmWave Radar - Industry-leading CMOS mmWave Radar Solution As the automobile industry moves towards advanced assisted driving and automated driving, vehicle functionality will gradually replace human initiatives. Sensors and mmWave radar, that can detect driving environments, will become one of the most important technologies. MediaTek's Autus Ultra-Short Range Millimeter Radar solution integrated with a baseband DSP, RF and encapsulated antenna is designed for automated driving and anti-collision scenarios. The chip is designed based on the advanced RF and connectivity technologies and industry-leading CMOS manufacturing process, to optimize size, performance, power consumption and cost. The Autus Ultra-Short Range millimeter Radar solution provides a wider field of view and more accurate object recognition as well as quick response and robust anti-interference ability. It supports a wide range of applications, including assisted parking, automatic braking, parking space measurement and automatic parking. MediaTek's Autus millimeter Radar solution was put into mass production last year, while its in-vehicle communication system, in-vehicle information entertainment system and vision driver assistance system have been recognized by the world's leading automobile manufacturers and partners, and will be mass produced in 2019. # # # About MediaTek Inc. MediaTek Incorporated (TWSE: 2454) is a global fabless semiconductor company that enables 1.5 billion connected devices a year. We are a market leader in developing innovative systems-on-chip (SoC) for mobile device, home entertainment, connectivity and IoT products. Our dedication to innovation has positioned us as a driving market force in several key technology areas, including highly power-efficient mobile technologies and advanced multimedia solutions across a broad range of products such as smartphones, tablets, digital televisions, OTT boxes, wearables and automotive solutions. MediaTek empowers and inspires people to expand their horizons and more easily achieve their goals through smart technology. We call this idea Everyday Genius and it drives everything we do. Visit www.mediatek.com for more information. MediaTek Press Office: PR@mediatek.com Kevin Keating, MediaTek+1- 206-321-729510188 Telesis Ct #500, San Diego, CA 92121, USA View original content:http://www.prnewswire.com/news-releases/autus-mediateks-automotive-business-makes-inroads-on-mmwave-v-adas-telematics-and-infotainment-for-automotive-market-300773235.htmlRelated Links :http://www.mediatek.com
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TuSimple, Leading Fully-autonomous Truck Company, Announces Business Expansion with New Self-driving Routes, Customer Growth and Partners
SAN DIEGO, Jan. 7, 2019 /PRNewswire/ -- TuSimple, a global self-driving truck company, today announced that in response to growing commercial demand from 12 contracted customers, including Fortune 100 and large international companies, the company currently has 11 trucks in the U.S. and will have 40 trucks in fully-autonomous operation by June, making TuSimple the largest self-driving truck solutions company worldwide. The company now makes three to five fully-autonomous trips per day for customers on three different routes in Arizona. An additional route from Arizona to Texas will come online in early 2019. TuSimple is the only self-driving truck company running daily fully-autonomous commercial routes from depot-to-depot, which requires both highway and local street driving. TuSimple Will Display Its New Self-Driving Navistar International LT Semi-Truck At CES 2019 At CES 2019, TuSimple will display a Navistar International LT semi-truck (Booth SP5, South Plaza) in Las Vegas from January 8-11, 2019, highlighting the company's industry-leading self-driving (Level 4) perception system and showcasing what TuSimple trucks 'see' while driving autonomously. TuSimple also announced today it is working with Tier 1 suppliers, including Cummins Inc. (NYSE: CMI), a global power leader, to enable powertrain integration with its autonomous technologies. Cummins was instrumental in developing the industry standard interface between powertrains and autonomous systems. Cummins is bringing its nearly 100 years of technological innovation in engines, components and controls to partners like TuSimple and other technology companies to ensure seamless and safe integration in the efforts to bring autonomous vehicles to commercial markets. "We are pleased to work with TuSimple and other companies across the globe to help bring autonomous vehicle technology to commercial markets," said Morgan Andreae, Executive Director, Growth Office, Cummins Inc. "Cummins is a global powertrain leader with expertise in not only engines, but also controls and electronics and we are bringing this technical knowledge to develop a sophisticated interface that can allow powertrains and vehicles to integrate and operate efficiently, effectively and safely." "Exactly one year after debuting our prototype system at CES 2018, we're now running up to five commercial trips a day in Arizona, expanding our fleet and moving quickly toward our goal of creating the first commercial self-driving truck," said Dr. Xiaodi Hou, Founder, President and Chief Technology Officer, TuSimple. "We are making tremendous progress towards the commercialization of our technology and trucking ecosystem with key Tier 1 partners like Cummins. The viability and power of our autonomous truck solutions is being proven daily on highways and local streets." With the company's innovative camera-centric perception solution, TuSimple's trucks have a vision range of 1,000 meters -- farther and better-quality visibility than any other autonomous perception system today. Most driverless systems can only see optimum quality up to 150 meters ahead of the vehicle. The California Department of Motor Vehicles lists anything less than 300 meters to be low visibility and recommends that driver precautions be taken. TuSimple's self-driving trucks can also see 360 degrees around for a pixel-level interpretation of the visible environment, enabling the vehicle to have three centimeter control precision at all times -- rain or shine. The trucking industry is currently facing a shortage of 50,000 drivers (which is expected to increase to 175,000 by the end of 2024) and is approaching a 100 percent turnover rate per year with an average driver age of 49 years old. According to a PwC study, autonomous trucking technologies will reduce annual operating costs for a traditional average long-haul truck by 28% in 2025. TuSimple is aiming to transform the $740-billion U.S. trucking industry by cutting costs, reducing carbon emissions and eradicating some of the challenges currently faced by operators. Today's announcement is a significant step in the realization of TuSimple's previous expansion announcements. About TuSimple TuSimple is a global autonomous trucking solutions company headquartered in San Diego and operating self-driving trucks out of Tucson, Arizona. Founded in 2015, TuSimple is developing a commercial-ready Level 4 (SAE) fully-autonomous driving solution for the logistics industry. TuSimple's trucks are the first and only capable of self-driving from depot-to-depot and do so every day for its customers. The company is driven by a mission to increase safety, decrease transportation costs, and reduce carbon emissions. For more information, please visit www.tusimple.ai, and follow us on Twitter and LinkedIn. View original content to download multimedia:http://www.prnewswire.com/news-releases/tusimple-leading-fully-autonomous-truck-company-announces-business-expansion-with-new-self-driving-routes-customer-growth-and-partners-300773546.htmlRelated Links :http://www.tusimple.ai
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Karma Automotive Appoints First Public Relations Director
- BRAND COMMITS TO PROACTIVE & ROBUST COMMUNICATIONS EFFORT- KEY ASSIGNMENTS: SHAPE BRAND, BUSINESS & PRODUCT PLAN NARRATIVE; BUILD LONG-TERM BRAND VALUE IRVINE, Calif., Jan. 5, 2019 /PRNewswire/ -- Matthew Clarke, an accomplished luxury automotive marketing communications executive, has joined Southern California-based Karma Automotive as Director of Communications, to help shape and drive the narrative surrounding the company's business and product plan, announced CEO Dr. Lance Zhou. "Matt brings a diverse and international skillset and has the kind of brand management, experiential marketing and media communications leadership Karma needs to support our strong and well-funded future," Zhou said. "Karma continues to attract the kinds of top talent and leadership required to achieve our goals and execute on a solid product plan that spans the next decade." Clarke comes to Karma from Aston Martin Lagonda where he spent more than 15 years in various roles helping one of the world's most prominent luxury brands grow brand prominence, market share and retail sales. Most recently, Clarke served as General Manager of Marketing and Communications leading all Aston Martin's Public Relations, Marketing and Product Planning for the company's Americas region (U.S., Canada, South America and Mexico). He also held corporate, product and internal communications roles at the automaker's global headquarters in the United Kingdom and started his automotive career at Land Rover. "I'm excited to join a dynamic leadership team and help build belief in and support for our strategic vision for the brand here in the U.S. and in China," said Clarke, who starts his new role Jan. 7. "My team's focus will be to take the wraps off the only automaker designing, engineering, assembling and marketing vehicles in Southern California and to create long-term value for the Karma brand." Karma's announced "Value-Forward" business plan is centered on nurturing and growing a unique luxury electric vehicle niche. The brand is defined by exclusive design and craftsmanship, intuitive and integrated high technology, an owner experience with unrivaled treatment, and personalized customization that allows every Karma vehicle to be special. Zhou's strategy also encourages collaboration with the right business partners to help accelerate technology and product development Clarke's new role, which reports directly to Zhou on an interim basis until a pending organizational structure is finalized, illustrates the brand's strong commitment to a more proactive and robust business and product communications effort. "You will see increasing evidence of that in 2019 through our active participation at and around CES, the New York International Auto Show, Auto Shanghai 2019, Monterey Car Week, and AutoMobility LA 2019," Zhou added. Meet Karma Automotive and Karma ReveroKarma Automotive designs, engineers, assembles and markets luxury electric vehicles, all from its Southern California base of operations. Founded in 2014 and employing nearly 1,000 people worldwide, Karma Automotive is committed to elevating and growing the luxury mobility experience for its customers and draws on global relationships and technology partners to achieve this. Named Green Car Journal's 2018 Luxury Green Car of the Year, Karma Revero is a luxury electric vehicle powered by dual electric motors that embodies the company's goals of offering leading automotive design, technology, customization and an outstanding customer experience. Learn more about Karma Automotive and Revero at www.karmaautomotive.com or visit the password-free Karma Newsroom at www.karmanewsroom.com for the latest press releases, videos and images. Logo - https://mma.prnewswire.com/media/620312/karma_Logo.jpg Related Links :http://www.karmaautomotive.com
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GAC Motor's All-New GM6 Minivan: The Car Designed to Bring Back Family Road Trips
Features the third-generation 270T engine with GCCS patented combustion control, Bosch 200Bar GDI and BorgWarner turbocharging technology Duo 12.3-inch integrated touch-screen enabled dashboard infotainment screens 1860mm car body with 2+2+3 seating arrangement, providing supercargo space of 1,100L Sculpted body with dynamic "dolphin" design, LED matrix headlights and a panoramic sunroof Intelligent voice interaction and navigation enabled by the Qiyun AI mobility solution SANYA, China, Jan. 4, 2019 /PRNewswire/ -- Designed to make family travel safer and more convenient, GAC Motor has officially released the GM6 Minivan. The highly anticipated all-new family car was launched in the domestic market on January 2 in Sanya, China. International fans will be able to catch a glimpse of GAC Motor's latest family offering at the 2019 North American International Auto Show (NAIAS) held in Detroit this January. Mr. Yu Jun, President of GAC Motor(second from right), Mr. Yan Jian, Vice President of GAC Motor(first from right), Mr. Zhang Fan, Vice President of GAC R&D Center(second from left), Zeng Hebin, President of GAC Motor Sales Company (first from left) took Group Photo with GM6 "The GM6 Minivan, complete with a five-star safety package, versatile seating and AI-enhanced driving system is one of our safest, most intelligent and spacious designs yet. Designed especially for families, the GM6 Minivan is packed full of features suited for the perfect modern family road trip," noted Yu Jun, president of GAC Motor. Safe and smart The GM6 Minivan utilizes GAC Motor's latest technologies and adopts the 270T engine to deliver a strong, stable performance: Maximum torque at 265N.m and 1700-4000 rpm; Bosch 200Bar GDI technology featuring BorgWarner turbocharging; GAC Motor's patented GCCS combustion control system; Significantly lower vibration thanks to isolation points installed throughout the vehicle, including the oil tube and air conditioning pipe for a smoother more enjoyable ride When it comes to family cars, safety is key. The car body of GM6 has been developed specifically with safety in mind to 2018 C-NCAP five-star standards and comes with the following robust design features: A cabin made from 95 percent high-strength steel; 100 percent SECC in core parts and components to prevent corrosion; The latest Bosch ESP9.3 brake control system and EPB with auto hold feature; 14-in-one active safety system; Industry-leading brake distance of 35.65 meters GM6 on the Street Infused with elegance and intelligence: the smart, subtle décor and soft texture of the interior of the GM6 embodies family harmony and warmth, while the exterior cuts a bold statement with its LED matrix headlights and Flying 3.0 Dynamic grille. As a family car designed for extensive travel and use, the 1860mm wide and 1730mm tall GM6 proudly boasts an extra spacious cabin perfect for daily errands or long road trips. No matter where your next adventure may take you, the GM6 Minivan checks all the boxes. Armed with a versatile third-row seating arrangement, the GM6 offers an industry leading super-large luggage space of up to 1100L, big enough to fit 14 20-inch suitcases. In addition, the GM6's ergonomic seating arrangement provides a broader vision for the driver in the front while passengers can relax in the back with sleeping mode equipped seats; perfect for long journeys. Moreover, the addition of an all-new Injoy user interface design with 11 upgrades and duo 12.3-inch integrated horizontal screens, makes the GM6 one of the smartest and most driver friendly vehicle in the company's line-up. Inside of GM6 A competitive player in the Minivan market In 2018, GAC Motor launched the brand's first Minivan GM8, targeting confident business elites seeking a high-quality lifestyle. Coined the "mobile conference room," the luxury, comfortable and upmarket GM8 having already hit the markets in The Philippines and Myanmar, has been well received by local customers. In recent years, GAC Motor has established a world-class car design and manufacturing system. The release of GM6 has further completed GAC Motor's product portfolio which now features not only the star SUVs but also diversified products like sedans and Minivans. With an established global sales and service network in 16 countries covering Middle East, Southeast Asia, Eastern Europe, Africa and North America, GAC Motor is also planning to introduce more new models in overseas markets soon. About GAC Motor Founded in 2008, Guangzhou Automobile Group Motor CO., LTD (GAC Motor) is a subsidiary of GAC Group which ranks 202nd among Fortune Global 500 companies. The company develops and manufactures premium quality vehicles, engines, components and auto accessories. GAC Motor has now ranked first among all Chinese brands for six consecutive years in J.D. Power Asia Pacific's China Initial Quality Study(SM) (IQS), demonstrating the company's quality-centric strategy from innovative research and development (R&D), manufacturing to supply chain and sales & services. For more information, please visit: Facebook: https://www.facebook.com/GACMotor Instagram: https://www.instagram.com/gac_motor Twitter: https://www.twitter.com/gac_motor Media Contact: Sukie Wong+86-186-8058-2829GACMotor@126.com Photo - https://photos.prnasia.com/prnh/20190104/2338770-1-a Photo - https://photos.prnasia.com/prnh/20190104/2338770-1-b Photo - https://photos.prnasia.com/prnh/20190104/2338770-1-c
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Cash rewards for Singapore's courteous motorists
A Singapore online motor insurer says it wants to encourage safe and courteous driving in a bid to help tackle the increasing trend of 'more severe' motor accidents. SINGAPORE, Jan. 2, 2019 /PRNewswire/ -- A first-half of 2018 results released by the General Insurance Association of Singapore (GIA) found an 11.8% increase in incurred car insurance claims, totalling S$291.3 million for the interim period, despite fewer reported accidents. GIA infers that these losses could be due to "accidents becoming more severe and possibly involving more serious injuries." Budget Direct Insurance gives cash rewards to Singapore's courteous motorists Meanwhile, a recent study by independent consumer research firm ValueChampion has revealed that latest road traffic accident figures do show that reckless driving is still a real cause for concern, possibly accounting for more than half of recorded accidents in 2017.* Budget Direct Insurance says it aims to help tackle the issue of reckless driving with a "Spot Good Motorists" campaign to encourage good driving behaviour. The online motor insurance company is urging motorists to submit their dashcam footage showing acts of safe and courteous driving. The winning participants who submit the selected footages will each be rewarded with a combined cash and voucher pay-out amounting to a total of $100. The campaign is being carried out in partnership with Facebook Page Beh Chia Lor, one of Singapore's leading dashcam platforms. It follows the insurer's previous initiative in which participants who captured the selected footages of dangerous driving on their dashcams and submitted through Beh Chia Lor would receive prizes. Budget Direct Insurance would in turn, also avoid insuring the bad drivers caught on camera. That campaign caught the attention of Singapore's motoring community with an overwhelming number of submissions, says Budget Direct Insurance. But now the insurer is turning its spotlight on safe, courteous drivers and motorcyclists. Simon Birch, CEO of Budget Direct Insurance, said: "Our campaign to catch and avoid insuring bad drivers was a big success. We were overwhelmed with submissions. Many motorists were pleased we were taking such a strong stance on bad driving. But now we feel it's only fair that we reward good drivers too. "As a car insurer we believe we have a responsibility to support road safety in whatever way we can. These campaigns are just ways that we can play our small part and to help tackle this issue particularly when it comes to reckless driving." ValueChampion's above-mentioned study also found that although there is an overall trend of Singapore's roads becoming safer, "reckless driving remains a significant problem." Whether it's speeding, not turning carefully, or not maintaining a proper lookout. Such actions that could qualify as reckless driving account for more than half of recorded accidents in 2017. The study report by ValueChampion concluded that the issue of reckless driving was not surprising given "the increase of distractions present in the car ranging from cell phones to Bluetooth and entertainment systems. Furthermore, it also shows us that driving in Singapore can be a high stakes game filled with stress and desire to get to a destination as quickly as possible." A spokesman Daryl Fong from Beh Chia Lor shared that most dashcam videos they received show car accidents in which the driver had either lost control of their vehicle or was purposefully engaged in dangerous driving. He added: "We do not encourage reckless driving, we are here to promote road safety among all motorists. We will do all we can to help deter any senseless and careless driving. And that's why we're keen to join this campaign and to play a small part in helping improve our roads by encouraging good driving behaviour on our Facebook page." The dashcam videos entries submitted through Beh Chia Lor for the "Spot Good Motorists" campaign will be selected by a panel consisting of representatives from the Beh Chia Lor team and Budget Direct Insurance, based on a specified criteria. Each winning participant who submits a selected video will receive $100 worth of prizes. *Full report in ValueChampion including road traffic accident statistics. For more information about Budget Direct Insurance, please visit www.budgetdirect.com.sg and Beh Chia Lor at https://www.facebook.com/BehChiaLor/ About Budget Direct Insurance Budget Direct Insurance is the trading name of Auto & General Insurance (Singapore) Pte. Limited, which is licensed by the Monetary Authority of Singapore, and bound by the regulations and requirements for insurers. Budget Direct Insurance was built as a digital start-up here in Singapore, and it is part of BHL Holdings Limited ("BHL Group"), a privately owned, global group of companies whose principal businesses are engaged in insurance underwriting, direct insurance distribution, brokering and related services, online comparison and property development. The BHL Group provides insurance solutions to millions of policyholders across several countries. The BHL Group includes one of the largest direct personal lines insurers in South Africa, one of the largest personal lines intermediaries in the United Kingdom and the Budget Direct brand in Australia. Photo - https://photos.prnasia.com/prnh/20181227/2335601-1 Related Links :http://www.budgetdirect.com.sg
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Chinese Carmaker Great Wall Motor's New Energy Vehicle Brand ORA Launches New Flagship EV Model R1
Priced at 59,800-77,800 RMB , the model signals a new era for China's new energy vehicle (NEV) marketBEIJING, Dec. 27, 2018 /PRNewswire/ -- Chinese carmaker Great Wall Motor launches the second flagship EV model under its new NEV brand, ORA, at the RNG e-sports arena in Beijing on December 26, 2018. The subsidized price of the new model, ORA R1, ranges from 59,800 RMB to 77,800 RMB (USD 8,680 to USD 11,293, per the CNY/USD rate as of Dec. 25, 2018). As a newcomer to the new energy vehicle market, the R1, based on China's first proprietary electric vehicle (EV) platform, ME, revolutionizes China's fuel-to-electricity, low-speed EV market and pioneers the innovations in the EV sector, signaling a new era for the country's new energy vehicle market. Chinese Carmaker Great Wall Motor's New Energy Vehicle Brand ORA Launches New Flagship EV Model R1 ORA R1 boasts several advantages over its peers in terms of exterior design, space, intelligence and safety and is referred to as the "world's fifth boutique vehicle" by many industry insiders for its superb look, spaciousness, intelligent functions, enhanced safety and level of attention to quality. The new model is expected to lead the market with its proprietary EV platform and features. The vehicle comes in five color options: titanium white, cadet blue, sky blue, combination titanium white and glitter black, and combination cadet blue and titanium white. The model is backed by a three-year or 120,000 km guarantee for the whole vehicle, and an eight-year or 150,000 km guarantee for core components. Ning Shuyong, general manager of ORA and vice president of Great Wall Motor, said: "As a new market entrant, ORA R1 delivers an unprecedented experience to drivers. ORA replaces the traditional sales, service, spare parts and surveys (4S) dealership-centered model that is common in China with a network consisting of ORA Home, experience centers and smart outlets in the central business districts of Chinese cities. In addition, the big data cloud that is created as the result of the information collected from the ORA app, the ORA shopping site and the Tmall e-shop opens the way to the development of multiple scenarios for offline sales and services as well as new transportation services for both drivers and passengers." With a constant focus on what the newest generation of drivers demand from their vehicles, ORA not only opens the way to customized products, but also reinvigorates sales channels and creates new retail models that are in line with the expectations of urban consumers, in a bid to build a new automotive ecosystem. View original content to download multimedia:http://www.prnewswire.com/news-releases/chinese-carmaker-great-wall-motors-new-energy-vehicle-brand-ora-launches-new-flagship-ev-model-r1-300770886.html
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2018 Kakao Mobility Media Day
Kakao Mobility (CEO Joo-hwan Jung) held '2018 Kakao Mobility Media Day' at The Plaza Hotel in Sogong-dong, Seoul on March 13, 2018, and disclosed its achievements and future plans. This is the first time that Kakao Mobility, which has launched as an independent company that received an investment of 500 billion won from TPG Consortium last August, held a public event for the media. At the event, CEO Joo-hwan Jung explained various attempts and achievements for the transformation of the mobility, the impact on the ecosystem, and announced various plans such as strengthening taxi calling function, taxi-carpool connection, B2B and global business expansion. ▲ Joo-hwan Jung, CEO of Kakao Mobility, made a presentation and a question-and-answer session. According to Kakao Mobility, taxi calls have increased 2.5 times over the past two years, while the number of available taxis has increased only 1.4 times. As a simple example, about 230,000 Kakao T taxi calls were made during the first hour from 8 am on December 20 last year, while about 26,000 taxis (excluding taxis in operation) were available at that time. More than 80% of calls could not be supplied. Especially when weather conditions such as snowfall, large-scale performances or events cause specific demand, the gap between supply and demand worsens. The difference between the demand and supply of the taxi is analyzed as the fundamental cause of the taxi riding problems in commuting, midnight, and urban areas. In particular, the gap between supply and demand gap is aggravating with decreasing number of taxis running since 2013. Kakao Mobility has been working with various stakeholders such as the Ministry of Land, Infrastructure and Transport, the Seoul Metropolitan, and the taxi industry to find solutions to these problems. It predicts the taxi demand using big data and pre-announces to drivers, and it is also implementing a policy to expose long distance calls to drivers who received many short distance calls. However, it is pointed out that these methods have limitations in solving the fundamental cause of the gap between supply and demand. As the first goal of the year, Kakao Mobility will enhance the motivation of its drivers and strengthen the calling function. First, in order to increase the supply of taxi service, a 'point' system will be operated for taxi drivers. It is a concept of paying points that can be exchanged according to the service performance and evaluation. This is to create a virtuous circulation that can make drivers respond to many call requests by giving more active motivation. ▲ The main theme of profitability and the next generation as the economies of scale are partly achieved. Kakao Mobility will also enhance the call function for more efficient taxi dispatch. The added call function consists of two paid options, including 'priority call' and 'immediate dispatch', and passengers can choose whether to use or not depending on situations. ‘Priority call’ is an option of priorly making a call request to a taxi with a high probability of success of dispatch by utilizing AI, and ‘immediate dispatch’ makes an immediate dispatch to the nearby empty taxi. The free call option as the present one will be still maintained, and the payment is made when the dispatch is confirmed after selecting ‘priority call’ or ‘immediate dispatch’. In addition, in order to solve the problem of supply shortage compared with the demand of the taxi, Kakao Mobility made a plan to supplement the taxi demand through carpool service. If the calls that have not been connected to drivers at Kakao T taxi are connected to carpool, it is expected that a significant portion of the supply shortage could be replaced by carpool. What’s more, it is expected not only to increase user convenience but also to improve traffic congestion and urban environment. Kakao Mobility will work hard to create an alternative to effective mobility within the legal framework, to prepare a service for it, and to create a stage for smooth communication and cooperation between the taxi and carpool industry. The AI-based dispatch system introduced since early this year is also improving the connection between passengers and drivers more effectively. It is a concept of matching passengers with drivers who have a high possibility of connection by applying deep learning technology based on the big data such as much accumulated call information, driving patterns of drivers, and traffic situation. ▲ The strategy of continuing service growth with results stood out everywhere. The second goal of this year is the establishment of B2B business. Kakao Mobility recently started off on the track of its profitability in B2B areas, such as launching 'Kakao T for Business', a service dedicated to corporate members. It provides the company with a system that makes it easier to use taxis for business purposes such as business trips and outings of corporate employees and make a charge. Kakao Mobility estimates about 15% of all taxi demand for business purposes. Kakao T for Business plans to expand into various enterprise mobility service areas including a luxury taxi and chauffeur service beginning with a regular taxi. The third goal is to expand the global business. Kakao Mobility plans to provide cross-border call service to users in both Korea and Japan through cooperation with Japan Taxi in Japan from the second half of this year. A Japanese user who visited Korea can call a taxi using ‘Japan Taxi’, and a Korean user who visited Japan can call a taxi in Japan by using Kakao T Taxi. Through ‘Easi6 Korea’, which was invested by Kakao Mobility in December 2017, Kakao Mobility plans to launch a business that connects local transportation means when domestic users visit Hong Kong, Taiwan, and Southeast Asia. Kakao Mobility will also offer a variety of services using AI and big data. It plans to introduce 'Kakao I', which is Kakao’s integrated AI platform, to Kakao T. Moreover, it is continuously upgrading 'future driving information', which shows predicted traffic information at a desired time, and dispatch systems based on and deep learning. The company also plans to participate in an autonomous vehicle ecosystem through collaboration with ‘Mars Auto’, an AI-based autonomous navigation software company, invested November 2017. Currently, it has set up the goal of securing competitiveness in the autonomous vehicle sector by promoting various new projects and has been establishing an autonomous vehicle-related organization. The investment and acquisition of mobility start-ups are expected to continue. Since 2017, Kakao Mobility has actively invested in and acquired mobility start-ups such as 'Mars Auto', an autonomous vehicle start-up, 'Easy Six Korea', a Limousine business start-up, and ‘Luxi’, a carpool start-up. ▲ In the next generation, artificial intelligence and the autonomous vehicle will be the two main themes. Kakao Mobility said that the number of mobile services that have been provided has exceeded 2.3 billion. It is the total of the number of taxis, chauffeur service, parking, and navigation use. Kakao Mobility is envisioning a variety of mobile innovations that can add value to life by using AI and massive big data. Indeed, Kakao Mobility has created new experiences and innovations in a variety of moving areas, including taxis, chauffeur service, parking, and navigation. In its third year of launch, Kakao T Taxi has grown exponentially by providing new connectivity experiences for both users and employees. The cumulative number of Kakao T Taxi is 400 million and 240,000 drivers, more than 96% of the nation’s taxi drivers, have joined. By changing the concept of a taxi from "catching" to "calling," users are provided with a convenient and safe experience of taxi use. According to a survey by the Seoul Research Institute, taxi drivers' profits increased by more than 20%, creating a value of 1.1 trillion won per year, and social costs of 135 billion won decreased per year as the time of empty taxi decreased by 17%. In addition, it has created various positive effects such as improvement of kindness and change of appellation by rating evaluation system. Kakao T Driver, which has been in service for two years, has also grown steadily, reaching 14 million cumulative usage and 3.4 million subscribers. CEO Joo-hwan Jung emphasized by saying, “Kakao T Driver has also been focusing on eliminating the inconvenience experienced by both employees and users just like Kakao T Taxi. Moreover, I would like to put a lot of stock on contributing to the creation of a healthy ecosystem by bringing unreasonable practices and problems that existed in the chauffeur service industry to surface and taking the lead in improving it.” Also, he revealed his strong ambition. “We will innovate connections in life by actively utilizing big data and AI from various services.”
