Senmiao Technology Announces Third Order of 200 Electric Vehicles Under Framework Agreement with BYD
5G Automotive Association Presents Latest Developments on C-V2X in China to Boost Automated Driving Revolution
German Electric Vehicle (EV) manufacturer, e.GO Mobile, successfully closes Series B funding round
Nexteer Automotive Joins SAE ITC The Health-Ready Component & Systems (HRCS) Consortium
Hyundai Motor Group Appoints Ben Diachun as Chief Technology Officer for Urban Air Mobility Division
Hopium Confirms Its Hydrogen Sedan Prototype Coming In June 2021
Hyundai IONIQ 5 Redefines Electric Mobility Lifestyle
MoveSG Future of Mobility: Seeds of Inspiration Virtual Summit on 9th March 2021 organized by Goldbell Group
First of Toyota's Latest Hydrogen-Fuel Vehicle "Mirai" Makes a Debut in Lancaster, California
Motional Operates Driverless Vehicles On Public Roads
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Hyundai Mobis' HLED to perform tail and stop light with a single LED for the first time in the world
Performing both tail and stop light functions with a single LED Securing a uniform bright light with a 5.5mm-thick film even it is bent or curved Lighter, smaller LED lamps… various pattern designs are also possible Will lead the global lamp market with emotional and functional satisfaction SEOUL, South Korea, Feb. 22, 2021 /PRNewswire/ -- Hyundai Mobis (KRX: 012330) announced on February 22 that the company became the first in the world to develop an HLED that can be bent flexibly like a thin film. Now, a single LED can serve as both the stop lamp and the tail lamp at the same time with only 5.5mm thickness of the LED surface. The world’s first flexible HLED through ‘5.5mm innovation’ by Hyundai Mobis Hyundai Mobis named this new rear lamp system HLED, which signifies high performance, high definition and homogeneity. Most vehicles today have the tail lamp and stop lamp separately under the safety laws. According to the laws, the stop lamp must be much brighter than the tail lamp. However, the HLED, developed by Hyundai Mobis, allows the tail lamp and the stop lamp to be implemented with a single LED by just controlling the light with electrical signals. Moreover, the HLED can generate bright and uniform stop light even when it is bent by emitting light in five different directions. As a result, the rear lamp will be more visible to the drivers of the vehicles approaching from the rear and side. Compared to the existing ream lamp, HLED can create various lamp design since it can be bent or curved. It is also possible to secure more space and offer lower weight, as it removes all the internal components used for existing rear lamp by controlling light with the new LED alone. Hyundai Mobis has passed the reliability tests of Europe (ECE) and the US (SAE) related to tail lamps and stop lamps. It has already received orders from European automakers and is currently conducting mass-production development of HLED. "We will accelerate technology development and introduce the lamp technology customized for future automobiles as represented by electrification and autonomous driving.", said Oh Heung-sup, the head of the Lamp BU at Hyundai Mobis. About Hyundai Mobis Hyundai Mobis is the 7th largest leading automotive supplier. Founded in 1977 and is headquartered in Seoul, Korea, Hyundai Mobis is to become a lifelong technology partner for vehicles and people. Hyundai Mobis is excellent in sensors, sensor fusion in controllers and software design capabilities in safety control. Its products also include various electrification components, brakes, suspension, steering, airbags, lights and automotive electronics. Mobis currently has more than 30,000 employees and has been manufacturing in more than 30 regions in 10 countries. In addition to its R&D headquarters in Korea, Mobis has 4 technology centers in Germany, China, India and the United States. Media Contact Jihyun Han (jihyun.han@mobis.co.kr) Choon Kee Hwang (ckhwang@mobis.co.kr)
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Lear Named One of FORTUNE'S 2021 Most Admired Companies
Listed for the 5th Consecutive Year SOUTHFIELD, Mich., Feb. 22, 2021 /PRNewswire/ -- Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, has been named to FORTUNE magazine's "World's Most Admired Companies" list for the fifth consecutive year. Lear was awarded fourth place overall in the Motor Vehicle Parts category – the highest ranking for a U.S.-based automotive supplier. "Receiving this accolade once again is a tremendous tribute to our diverse team and inclusive culture," said Ray Scott, Lear President and CEO. "Their commitment to operational excellence, bringing innovative solutions to our customers and fostering an inclusive culture are the reasons for our success. We pride ourselves on working as a team, understanding our customers' needs, supporting local communities and driving long-term profitable growth." In 2020, Lear took several actions to support these objectives, including: Creating the Safe Work Playbook in response to the COVID-19 pandemic. Lear shared the 80-plus page document publicly to help other companies reestablish a workplace where employees feel comfortable performing their jobs safely, resulting in more than 35,000 downloads. Adding production capacity to produce more than 10 million face masks for first responders, front line workers, non-profits, local communities and its employees. Announcing several new environmental goals, including aspiring to achieve net zero carbon emissions by 2050, and planning to use 100% renewable energy at the company's manufacturing facilities while reducing carbon emissions by 50% by 2030. Joining the United Nations Global Compact, the world's largest corporate responsibility initiative. Being honored as a diversity-focused company by Corp! Magazine. Receiving two J.D. Power 2020 U.S. Seat Quality and Satisfaction StudySM awards, sweeping the mass market car categories Winning an Automotive News 2020 PACE Award for the innovative in-vehicle commerce platform Xevo Market. In collaboration with global management consulting firm Korn Ferry, FORTUNE compiled its annual list after surveying 3,820 executives, directors, and analysts from 670 global companies in 52 industry groups about corporate reputation. Respondents ranked the reputations of companies based on nine factors, including management and leadership quality, product and service quality, innovation, social responsibility, global competitiveness and value as a long-term investment. About Lear Corporation Lear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Our diverse team of talented employees in 39 countries is driven by a commitment to innovation, operational excellence, and sustainability. Lear is Making every drive better™ by providing the technology for safer, smarter, and more comfortable journeys. Lear, headquartered in Southfield, Michigan, serves every major automaker in the world and ranks 166 on the Fortune 500. Further information about Lear is available at lear.com, or follow us on Twitter @LearCorporation. Related Links :http://lear.com
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Autoliv Board of Directors approves renewal of EMTN Programme
STOCKHOLM, Feb. 20, 2021 /PRNewswire/ -- The Funding Committee of the Board of Directors of Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb) (the "Company") approved today the renewal for one year of its €3,000,000,000 guaranteed euro medium term note programme (the "EMTN Programme"), which was originally established on April 11, 2019. The renewal of the EMTN Programme will allow the Company to take advantage of the funding opportunities provided by the capital markets and institutional investors through the future issuance of notes (the "Notes"). The Notes issued by the Company under the EMTN Programme will be unconditionally and irrevocably guaranteed by the Company's parent, Autoliv ASP, Inc. (the "Guarantor"). The base listing particulars dated February 19, 2021 (the "Base Listing Particulars"), which has been prepared by the Company and the Guarantor in connection with the EMTN Programme, has been approved by Euronext Dublin and is available for viewing on the website of Euronext Dublin (http://www.ise.ie). InquiriesTreasury: Pär-Ola Wirenlind, Tel +46 (0) 7 030 332 78Investors & Analysts: Anders Trapp, Tel +46 (0) 8 587 206 71 About Autoliv Autoliv, Inc. is the worldwide leader in vehicle safety systems, and through our subsidiaries we develop, manufacture and market protective systems, such as airbags, seatbelts, steering wheels and pedestrian protection systems for all major automotive manufacturers in the world. In 2020, our products saved over 33,000 lives each year and prevented ten times as many severe injuries. Our more than 68,000 associates in 27 countries are passionate about our vision of Saving More Lives and quality is at the heart of everything we do. We have 14 technical centers, with 20 test tracks. Sales in 2020 amounted to US $ 7,447 million. The shares are listed on the New York Stock Exchange (NYSE: ALV) and the Swedish Depository Receipts on Nasdaq Stockholm (ALIV sdb). For more information go to www.autoliv.com. Important Information NOTHING IN THIS COMMUNICATION CONSTITUTES AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO. THE SECURITIES REFERRED TO IN THE BASE LISTING PARTICULARS (THE "SECURITIES") HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION OF THE UNITED STATES, AND THE SECURITIES MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT) EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE OR LOCAL SECURITIES LAWS. Safe Harbor Statement This report 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 Autoliv, 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 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 such 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 https://news.cision.com/autoliv/r/autoliv-board-of-directors-approves-renewal-of-emtn-programme,c3290917 The following files are available for download: https://mb.cision.com/Main/751/3290917/1375998.pdf Press release (PDF)
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Veoneer publishes 2020 Annual Report on Form 10-K
STOCKHOLM, Feb. 20, 2021 /PRNewswire/ -- The automotive technology company Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), has filed its 2020 Annual Report on Form 10-K with the Securities and Exchange Commission (SEC). The 2020 Annual Report on Form 10-K is available at the SEC Edgar website: www.sec.gov and on Veoneer's web site veoneer.com.Veoneer has also published its 2020 Sustainability Report on Veoneer's web site veoneer.com For more information please contact:Thomas Jönsson, EVP Communications & IR, thomas.jonsson@veoneer.com , tel +46 (0)8 527 762 27 Veoneer, Inc. is a worldwide leader in automotive technology. Our purpose is to create trust in mobility. We design, manufacture and sell state-of-the-art software, hardware and systems for occupant protection, advanced driving assistance systems, and collaborative and automated driving to OEMs globally. Headquartered in Stockholm, Sweden, Veoneer has 7,500 employees in 11 countries. In 2020, sales amounted to $1.37 billion. The Company is building on a heritage of close to 70 years of automotive safety development. In 2018, Veoneer became an independent, publicly traded company listed on the New York Stock Exchange (NYSE: VNE) and on the Nasdaq Stockholm (SSE: VNE SDB). 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 https://news.cision.com/veoneer/r/veoneer-publishes-2020-annual-report-on-form-10-k,c3290550 The following files are available for download: https://mb.cision.com/Main/17380/3290550/1375973.pdf Release
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Autoliv announces Annual Stockholders Meeting and publishes Annual and Sustainability Reports for 2020
STOCKHOLM, Feb. 19, 2021 /PRNewswire/ -- Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive safety systems, will host a virtual-only Annual Stockholder Meeting on May 12, 2021 and has today filed its 2020 Annual Report on Form 10-K with the Securities and Exchange Commission (SEC). Annual Stockholders Meeting The 2021 Annual Stockholders Meeting of Autoliv, Inc. shall be held on Wednesday, May 12, 2021. To support the health and well-being of our employees, stockholders, and our community, our board of directors has decided that the meeting will be virtual, via webcast, format only. The Board of Directors has fixed the close of business on March 15, 2021 as the record date for the Annual Stockholders Meeting. All stockholders of record as of the close of business on that date are entitled to vote at the Annual Stockholders Meeting. Notice of the 2021 Annual Stockholders Meeting will be delivered to the holders of record in late March. More information on the Annual Stockholders Meeting can be found in Autoliv's proxy statement, which will be available to stockholders in March 2021. Annual Report and Sustainability Report The Form 10-K is available at the SEC Edgar website: www.sec.gov and on Autoliv's corporate website autoliv.com, where you also find the 2020 Sustainability Report. Inquiries: Investors & Analysts: Anders Trapp, Tel +46 (0)8 587 206 71 Investors & Analysts: Henrik Kaar, Tel +46 (0)8 587 206 14 Media: Gabriella Ekelund, Tel +46 (70) 612 64 24 About Autoliv Autoliv, Inc. is the worldwide leader in vehicle safety systems, and through our subsidiaries we develop, manufacture and market protective systems, such as airbags, seatbelts, steering wheels and pedestrian protection systems for all major automotive manufacturers in the world. In 2020, our products saved 33,000 lives and prevented ten times as many severe injuries. Our more than 68,000 associates in 27 countries are passionate about our vision of Saving More Lives and quality is at the heart of everything we do. We have 14 technical centers, with 20 test tracks. Sales in 2020 amounted to US $ 7,447 million. The shares are listed on the New York Stock Exchange (NYSE: ALV) and the Swedish Depository Receipts on Nasdaq Stockholm (ALIV sdb). For more information go to www.autoliv.com. This information was brought to you by Cision http://news.cision.com https://news.cision.com/autoliv/r/autoliv-announces-annual-stockholders-meeting-and-publishes-annual-and-sustainability-reports-for-20,c3290736 The following files are available for download: https://mb.cision.com/Main/751/3290736/1375943.pdf Release
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SOCMA and Greenland Technologies Sign Co-Operation Agreement to Support U.S. Production of Electric Industrial Vehicles
HOWELL, N.J., Feb. 18, 2021 /PRNewswire/ -- Greenland Technologies Holding Corporation (NASDAQ: GTEC) ("Greenland"), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, and Fujian South China Heavy Machinery Manufacture Co. Ltd. ("SOCMA", www.socmachinery.com), a leading company specialized in designing, manufacturing and distributing heavy industrial machinery and vehicles, today announced a co-operation agreement to utilize SOCMA's existing supply-chain and certain technologies to support Greenland's production of electric industrial vehicles in the United States. The agreement also represents a commitment by Greenland to invest in the U.S. as a key center of innovation in the global electric vehicle market. Under the agreement, both parties intend to establish a strategic partnership to fully cooperate on technology sharing and supply chain management for the production of electric industrial vehicles in the U.S. SOCMA has agreed to provide and supply to GTEC the materials, parts and components, and related supply chain required for the development and manufacture of electric industrial vehicles in the U.S. SOCMA agrees that GTEC shall use the relevant SOCMA technologies and patents involved in GTEC's procurement of engineering vehicle parts and materials from SOCMA free of charge GTEC will capitalize on its global business development and technology development capabilities to accelerate the launch of its electric industrial vehicles globally with support from SOCMA. Raymond Wang, CEO of Greenland, commented, "We are excited to partner with SOCMA, a proven leader in the manufacture of heavy machinery, and see this as a positive development, which will ensure the utilization of SOCMA's existing supply-chain for GTEC's U.S. production of its electric industrial vehicles. This cooperation agreement was designed to leverage both companies' expertise, best practices and vast proprietary knowledge for our mutual benefit, and enhancement of our respective competitive positions." "For GTEC, this cooperation will accelerate our electric industrial vehicle production in the United States. We believe the competitive advantage we will gain by now having access to SOCMA's supply chain, technologies and patents is invaluable. Today's announcement is a first but very important step. We look forward to sharing additional details as we progress, with initial production of our own electric, GTEC's first industrial vehicle, integrating our own components, targeted between 3Q 2021 and 4Q 2021. We plan to focus on the 1.8 ton electric load vehicle segment, given the addressable market size and favorable competitive environment. We believe this will significantly expand GTEC's long-term growth prospects and ability to build shareholder value." About Greenland Technologies Holding Corporation Greenland Technologies Holding Corporation (NASDAQ: GTEC) is a developer and a manufacturer of drivetrain systems for material handling machineries and electric vehicles, as well as electric industrial vehicles. For more information visit www.gtec-tech.com. Forward-Looking Statements This press release contains statements that may constitute "forward-looking statements." Such statements reflect Greenland's current views with respect to future events and are subject to such risks and uncertainties, many of which are beyond the control of Greenland, including those set forth in the Risk Factors section of Greenland's Annual Report on Form 10-K and Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission ("SEC"). Copies are available on the SEC's website, www.sec.gov. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Greenland's expectations with respect to future performance. In addition, there is uncertainty about the further spread of the COVID-19 virus or the occurrence of another wave of cases and the impact it may have on the Company's operations, the demand for the Company's products, global supply chains and economic activity in general. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected. Statements contained in this news release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Greenland does not intend and does not assume any obligation to update these forward-looking statements, other than as required by law.
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Hyundai Motor Company Signs MOU for EV Battery Lease to Foster EV Ecosystem and Sustainable Battery Reuse
Hyundai signs MOU with South Korea's Ministry of Trade, Industry and Energy as well as Hyundai Glovis, LG Energy Solution and KST Mobility Under MOU, all involved parties will explore a new innovative business model combining electric vehicle (EV) purchase with battery lease and battery reuse SEOUL, South Korea, Feb. 18, 2021 /PRNewswire/ -- Hyundai Motor Company today signed a memorandum of understanding (MOU) to work with the South Korean government as well as logistics, battery and mobility companies to demonstrate the electric vehicle (EV) battery leasing business. Hyundai Motor Company today signed a memorandum of understanding (MOU) to work with the South Korean government as well as logistics, battery and mobility companies to demonstrate the electric vehicle (EV) battery leasing business. (From left to right) Hyundai Glovis President Jung Hoon Kim, Hyundai Motor Company President Young-Woon Kong, Trade, Industry and Energy Minister Yun-mo Sung, Hyundai Motor Group Chairman Euisun Chung, Prime Minister Sye-kyun Chung, LG Energy Solution President Jong Hyun Kim and KST Mobility CEO Haeng Yeol Lee. Through this agreement, Hyundai aims to foster an EV ecosystem by alleviating the initial cost burden of EV purchases and providing innovative services that enable eco-friendly reuse of batteries. Hyundai Motor signed the MOU with South Korea's Ministry of Trade, Industry and Energy as well as Hyundai Glovis, LG Energy Solution and KST Mobility for the rental of electric taxi batteries and the sustainable reuse of EV batteries in energy storage systems (ESS). The MOU signing ceremony took place at Namyang R&D Center in Korea, attended by government and company officials, including Prime Minister Sye-kyun Chung; Trade, Industry and Energy Minister Yun-mo Sung; Hyundai Motor Group Chairman Euisun Chung, Hyundai Motor Company President Young-Woon Kong; Hyundai Glovis President Jung Hoon Kim; LG Energy Solution President Jong Hyun Kim; and KST Mobility CEO Haeng Yeol Lee. Under the agreement, KST Mobility, the taxi operator, will sell the ownership of batteries in newly purchased EVs to Hyundai Glovis, the battery lessor. KST Mobility then pays a monthly fee for battery usage. As a result, KST Mobility is able to have lower initial investment for EV purchases. When the batteries are swapped after extensive usage, the removed batteries are reused in energy storage systems (ESS) for fast-charging EV taxis. To save cost, ESS is charged in the middle of the night when electricity rates are lowest and then charges EV taxis during daytime when electricity is comparatively expensive. In this business model, Hyundai will oversee overall business operations while selling battery electric vehicles (BEV) to KST Mobility. Hyundai is also responsible for providing battery warranty and replacement batteries for vehicles that return batteries after use. Hyundai Glovis will operate a battery rental service and recover batteries after initial usage. Recently, Hyundai Glovis enhanced relevant capabilities by acquiring a patent for a container that can efficiently transport large quantities of used batteries. LG Energy Solution will analyze safety and residual value by purchasing batteries after use. It will also install these batteries into ESS units for fast-charging service and sell them to KST Mobility to utilize the chargers for its fleet of EV taxis. The driving and battery data from these EVs are shared with all parties under the MOU. The Ministry of Trade, Industry and Energy plans to actively support the project in consultation with relevant ministries. With the commercialization of battery rental service, Hyundai Motor expects that customers will be able to purchase BEVs at lower cost because they will only pay for the vehicle excluding battery cost. This is expected to foster EV adoption and expand the EV ecosystem. In addition, this enterprise will demonstrate and validate the safety of used EVs and allow all involved parties to find means to appraise residual value of used batteries. This is expected to encourage the reuse of EV batteries. The shared EV battery data will also allow other new business opportunities to be explored. Hyundai Motor Group continues to spearhead growth of an EV ecosystem and explore related business opportunities around the globe. The Group announced in November 2020 that it has signed a Business Cooperation Agreement (BCA) with SP Group to accelerate the adoption of EVs in Singapore. About Hyundai Motor Company Established in 1967, Hyundai Motor Company is present in over 200 countries with more than 120,000 employees dedicated to tackling real-world mobility challenges around the globe. Based on the brand vision 'Progress for Humanity,' Hyundai Motor is accelerating its transformation into a Smart Mobility Solution Provider. The company invests in advanced technologies such as robotics and Urban Air Mobility (UAM) to bring about revolutionary mobility solutions, while pursuing open innovation to introduce future mobility services. In pursuit of sustainable future for the world, Hyundai will continue its efforts to introduce zero emission vehicles equipped with industry-leading hydrogen fuel cell and EV technologies. More information about Hyundai Motor and its products can be found at: http://worldwide.hyundai.com or http://globalpr.hyundai.com Disclaimer: Hyundai Motor Company believes the information contained herein to be accurate at the time of release. However, the company may upload new or updated information if required and assumes that it is not liable for the accuracy of any information interpreted and used by the reader. Business Structure Diagram
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Hyzon Motors and Hiringa Energy advance partnership to decarbonize heavy road transport in New Zealand
Hyzon to deliver 1,500 hydrogen fuel-cell powered, zero emission heavy trucks by 2026 as Hiringa expands nationwide hydrogen refueling infrastructureROCHESTER, N.Y., Feb. 17, 2021 /PRNewswire/ -- Hyzon Motors Inc. ("Hyzon") and New Zealand's Hiringa Energy ("Hiringa") are pleased to announce the two companies have signed a vehicle supply agreement, with Hyzon commissioned to build and supply Hiringa with zero emission Heavy Goods Vehicles (HGV). The hydrogen fuel cell-powered trucks, to be assembled at Hyzon's facility in Winschoten, The Netherlands, will be manufactured in full compliance with local New Zealand requirements and the first batch of vehicles are expected to enter service in New Zealand by the end of 2021. Hyzon plans to have up to 1,500 fuel cell trucks on the road in New Zealand by 2026 as part of the agreement with Hiringa. This follows Hyzon's announcement on February 9, 2021 that it had entered into a merger agreement with Decarbonization Plus Acquisition Corporation (Nasdaq: DCRB, DCRBU, DCRBW). The vehicle supply agreement builds on the signing of a Heads of Agreement between the two companies in August 2020, and sets Hyzon and Hiringa on an ambitious path towards decarbonizing the New Zealand heavy transport sector through cooperation on hydrogen infrastructure and heavy-duty fuel cell electric vehicle (FCEV) deployment. Hyzon will leverage its team's deep experience in the development and deployment of world-class fuel cell equipment in trucks internationally, to bring zero emission transport technology to New Zealand. Meanwhile, as part of the agreement, Hiringa will build a green hydrogen refuelling network for vehicle fuel supply, to establish New Zealand as the global benchmark in fuel cell-powered logistics. Hyzon's FCEVs will be powered by green hydrogen supplied through Hiringa's nationwide refueling infrastructure. The network is on track to commence refuelling operations in 2021, expanding to eight hydrogen stations across New Zealand's North and South Islands in 2022, servicing 100% of the North Island and 82% of the South Island's heavy freight routes.The Hyzon FCEV trucks are designed to meet New Zealand road requirements and the demands of heavy freight applications. The trucks will be built in a 6x4 configuration, will include a sleeper cab option and will have a Gross Combination Mass (GCM) of 58 metric tonnes (64 US tons) and range of 680km (423 mi). In addition to the enormous clean energy output benefits, one of the key highlights of Hyzon's hydrogen fuel cell-powered trucks are their comparable-to-diesel refuelling times, providing a "drop in" solution for freight operators to replace their diesel fleets. Hyzon Motors Chief Executive Officer Craig Knight commented, "We see New Zealand as an attractive market for the deployment of our hydrogen fuel cell technology. The hydrogen supply network designed by Hiringa is a key enabler for the realization of our decarbonization strategy. This partnership aims to position New Zealand as a global leader in the adoption of zero emission heavy vehicle technology, and we are pleased to be playing a major role in this transition. Deploying 1,500 fuel cell trucks by 2026 is going to make a massive contribution to local decarbonization efforts." Hiringa Chairperson Cathy Clennett said, "This order is a significant milestone and the culmination of many hours of work from the Hyzon and Hiringa teams. We are very excited to have New Zealand road compliant heavy trucks capable of meeting New Zealand's transport needs arriving in country this year. This is a key step to decarbonizing our road transport, a growing industry that Kiwis rely on everyday as it supplies us with food, products, and essential goods. We are pleased leading New Zealand brands are stepping up to participate in this exciting initiative. Consumers and companies are becoming more aware of emissions and together with Hyzon we are providing kiwi businesses with a viable solution." Hiringa Chief Executive Officer Andrew Clennett said, "This is the next step in our strategy to roll out over 1,500 heavy FCEVs by 2026; alongside our partners, we are driving the cost of the technology down and unlocking widespread adoption of zero emission heavy transport for New Zealanders." About Hyzon Motors Inc. Headquartered in Rochester, NY and with operations in Europe, Singapore, Australia and China, Hyzon is a leader in hydrogen mobility. Hyzon is led by co-founders George Gu, Craig Knight and Gary Robb and is a differentiated, pure-play, independent mobility company with an exclusive focus on hydrogen in the commercial vehicle market. Utilizing its proven and proprietary hydrogen fuel cell technology, Hyzon will produce zero emission heavy duty trucks and buses for customers across North America, Europe, Asia and Australia. The company is contributing to the escalating adoption of hydrogen vehicles through its demonstrated technology advantage, leading fuel cell performance and history of rapid innovation. For US media enquiries, please contact: Brian BrooksH+K Strategies+1 713 752 1901 For international media enquiries, please contact: Fraser Beattie Cannings Purple +61 421 505 557 fbeattie@canningspurple.com.au For corporate enquiries, please contact: Craig KnightHYZON Motorscraig.knight@hyzonmotors.com www.hyzonmotors.com About Hiringa Established in 2016, Hiringa Energy is the first company in New Zealand dedicated to the supply of green hydrogen, and providing zero-emission solutions for industry, the public sector, and transport operators. Together with partners, Hiringa is developing one of the world's first nation-wide hydrogen refuelling networks in New Zealand. Hiringa is also partnering with industry and regions to develop high impact industrial scale and export scale green hydrogen projects. For corporate enquiries, please contact: Andrew ClennettChief Executive Director+64 27 704 7007aclennett@hiringa.co.nz For investment enquiries, please contact: Catherine Clennett+64 22 471 9407cclennett@hiringa.co.nz For vehicles and hydrogen supply enquiries, please contact: Ryan McDonald+64 27 919 7961rmcdonald@hiringa.co.nz Related Links :http://www.hyzonmotors.com
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SKF: Notice of Annual General Meeting
GÖTEBORG, Sweden, Feb. 17, 2021 /PRNewswire/ -- Notice is hereby given that the Annual General Meeting of Aktiebolaget SKF, reg. no. 556007-3495, will be held on Thursday, 25 March 2021. Due to the contagious Covid-19 and the authorities' regulations/guidance on avoiding gatherings of people, the Board of Directors has decided that the general meeting should be held without physical presence by inviting the shareholders to exercise their voting rights only by postal voting. There will be no meeting with a possibility to attend physically or by proxy; hence, the meeting will be held without physical presence. Information on the resolutions adopted by the general meeting will be published on 25 March 2021 as soon as the results of the postal vote has been finalized. For further information, see the heading "Postal voting" below. An address from the Chairman of the Board, the President and the incoming President will be available at the company's website, www.skf.com, latest by 22 March 2021. Further, an address from the auditor will be available at the company's website. Preconditions for participation For the right to participate at the Annual General Meeting, shareholders must be recorded in the shareholders' register kept by Euroclear Sweden AB by Friday, 17 March 2021 and must notify its intention to participate to the company at the latest on 24 March 2021 by casting its postal vote in accordance with the instructions under the heading "Postal voting" below so that the postal voting is received by the company through Computershare AB no later than 24 March 2021. Shareholders whose shares are registered in the name of a trustee must have the shares registered temporarily in their own name in order to take part in the Annual General Meeting. Any such re-registration for the purpose of establishing voting rights made by the trustee latest by 19 March 2021 are taken into account in the production of the share register. This means that the shareholder should give notice of his/her wish to be included in the shareholders' register to the trustee well in advance, in accordance with the trustee's procedures. Postal voting Shareholders may exercise their voting rights at the Annual General Meeting only by voting in advance, so-called postal voting in accordance with section 22 of the Act (2020:198) on temporary exceptions to facilitate the execution of general meetings in companies and other associations. A special form shall be used for postal voting. The form is available on www.skf.com. The postal voting form is considered as the notification of participation. The completed voting form must be received by SKF through Computershare AB no later than 24 March 2021. The form may be submitted by post to Computershare AB, "AGM 2021 of AB SKF", Box 5267, 102 46 Stockholm or via e-mail to info@computershare.se. Shareholders who are natural persons may also cast their postal votes electronically through Swedish BankID verification via SKF's website www.skf.com. Shareholders who are represented by a proxy holder shall submit a proxy form enclosed to the voting form. If the shareholder is a legal entity, a certificate of incorporation or a corresponding document shall be enclosed to the form. Shareholders are not permitted to add special instructions or conditions to their postal votes. If this is done, the vote (i.e. the postal vote in its entirety) will be invalid. Further instructions and conditions can be found on the postal voting form. The shareholders may request in the voting form that a resolution on one or several of the matters on the proposed agenda below should be deferred to a so-called continued general meeting, which cannot be conducted solely by way of advance voting. Such general meeting shall take place if the Annual General Meeting so resolves or if shareholders with at least one tenth of all shares in the company so requests. For questions about the meeting or to have the postal voting form sent by post, please contact Computershare AB on telephone +46 771-24 64 00. Agenda 1. Opening of the Annual General Meeting 2. Election of a Chairman for the Annual General Meeting 3. Election of persons to verify the minutes 4. Drawing up and approval of the voting list 5. Approval of agenda 6. Consideration of whether the Annual General Meeting has been duly convened 7. Presentation of annual report and audit report as well as consolidated accounts and audit report for the Group 8. Matter of adoption of the income statement and balance sheet and consolidated income statement and consolidated balance sheet for the Group 9. Resolution regarding distribution of profits 10. Matter of discharge of the Board members and the President from liability 11. Determination of number of Board members and deputy members 12. Determination of fee for the Board members 13. Election of Board members and deputy Board members The Nomination Committee's proposal for Board members: 13.1 Hans Stråberg 13.2 Hock Goh 13.3 Barb Samardzich 13.4 Colleen Repplier 13.5 Geert Follens 13.6 Håkan Buskhe 13.7 Susanna Schneeberger 13.8 Rickard Gustafson 14. Election of Chairman of the Board of Directors 15. Determination of number of auditors and deputy auditors 16. Determination of the fee for the auditors 17. Election of auditors and deputy auditors 18. The Board of Director's proposal concerning amendment of the Articles of Association 19. The Board of Directors' remuneration report 20. The Board of Directors' proposal for a resolution on SKF's Performance Share Programme 2021 Proposal under item 3 Martin Jonasson (Andra AP-fonden) and Nina Bönnelyche (Folksam), or if one or both of them are prevented, the person or persons instead appointed by the Board, are proposed to be elected to approve the minutes of the Meeting together with the Chairman. The task of approving the minutes of the Meeting also includes verifying the voting list and that the advance votes received are correctly stated in the minutes of the Meeting. Proposal under item 4 The voting list proposed for approval under point 4 on the agenda, is the voting list drawn up by Computershare AB on behalf of the company, based on the Meeting's share register and advance votes received, as verified and recommended by the persons approving the minutes of the Meeting. Proposal under item 9 The Board of Directors proposes a dividend of SEK 6.50 per share. It is proposed that shareholders with holdings recorded on Monday, 29 March 2021 be entitled to receive the proposed dividend. Subject to resolution by the Annual General Meeting in accordance with this proposal, it is expected that Euroclear will distribute the dividend on Thursday, 1 April 2021. Proposals under items 2, 11, 12, 13, 14, 15, 16 and 17 The Nomination Committee formed according to a resolution of the Annual General Meeting 2020 to represent all shareholders of the company consists of, besides the Chairman of the Board of Directors, representatives of FAM, Skandia, AFA Försäkring and Swedbank Robur Fonder, shareholders who together represent close to 40% of the votes of the total number of company shares. The Nomination Committee has informed the company about the following proposal: Item 2 - that Sven Unger, or if he is prevented, the person or persons instead appointed by the Nomination Committee, is elected Chairman of the Annual General Meeting; Item 11 - that the Board of Directors shall consist of eight members and no deputy members; Item 12 - that the Board members elected by the Annual General Meeting and not employed by the company, for the period up to the end of the next Annual General Meeting, receive a fee according to the following: An allotment of SEK 2,300,000 to the Chairman of the Board of Directors and SEK 750,000 to each of the other Board members; and an allotment of SEK 260,000 to the Chairman of the Audit Committee, with SEK 190,000 to each of the other members of the Audit Committee, with SEK 150,000 to the Chairman of the Remuneration Committee and with SEK 120,000 to each of the other members of the Remuneration Committee; Item 13 - re-election of the Board members Hans Stråberg, Hock Goh, Barb Samardzich, Colleen Repplier, Geert Follens, Håkan Buskhe and Susanna Schneeberger. It is proposed that Rickard Gustafson is to be newly elected. Rickard Gustafson will succeed Alrik Danielson as President and CEO of SKF during the first half of 2021. He is currently the President and CEO of the SAS Group and his previous senior positions include CEO of the insurance company Codan/Trygg Hansa and several positions within General Electric. A presentation of the proposed Board can be found at the company's website www.skf.com. Ronnie Leten has declined re-election at the Annual General Meeting 2021 due to lack of time. Item 14 - that Hans Stråberg is proposed to be the Chairman of the Board of Directors. Item 15 - that one auditor without deputy auditor shall be appointed; Item 16 - that the auditor is paid for work performed according to approved invoice; and Item 17 - that, in accordance with the Audit Committee's recommendation, the registered firm of auditors Deloitte AB is elected as auditor for a period of four years until the close of the Annual General Meeting 2025. Proposal under item 18 The Board of Directors proposes that the Annual General Meeting resolves to amend the Articles of Association. A new section is proposed to be inserted in the Articles of Association allowing the Board to collect proxies in accordance with the procedure described in Chapter 7, Section 4 of the Companies Act and allowing the Board to decide that shareholders shall have the right to provide their votes in advance before a General Meeting in accordance with Chapter 7, Section 4a of the Companies Act. Further, a number of editorial amendments are proposed to reflect changes in legislation. All proposed amendments are stated in the updated Articles of Association which is available on the company's website among the Board of Director's complete proposals. Proposal under item 19 The Board of Directors has prepared a Remuneration report which is proposed to be approved by the Annual General Meeting. The Remuneration report is available on the company's website among the Board of Director's complete proposals. Proposal under item 20 The main contents of the Board of Directors' proposal are stated below. The complete proposal is available at the company and at the company's website, www.skf.com. Background At the Annual General Meeting in 2008 the SKF Group introduced a long-term performance share programme for senior managers and key employees (SKF's Performance Share Programme 2008). Since 2008 the Annual General Meeting has resolved each year upon a performance share programme. The terms and conditions of SKF's Performance Share Programme 2021 are the same as for SKF's Performance Share Programme 2020 that was resolved at the Annual General Meeting 2020. SKF's Performance Share Programme 2021 The Board proposes, in order to continue to link the long-term interests of the participants and the shareholders, that a decision be taken at the Annual General Meeting 2021 on SKF's Performance Share Programme 2021. The programme is proposed to cover not more than 225 senior managers and key employees in the SKF Group with an opportunity to be allotted, free of charge, SKF B shares in accordance with the following principal terms and guidelines. Under the programme, not more than in total 1,000,000 SKF B shares may be allotted to not more than 225 senior managers and key employees in the Group. The number of shares that may be allotted must be related to the degree of achievement of the Total Value Added (TVA) target level, as defined by the Board, for the TVA development for the financial years 2021-2023 compared to the financial year 2020. TVA is a simplified, economic value-added model promoting greater operating profit, capital efficiency and profitable growth. TVA is the operating profit, less the pre-tax cost of capital. After the expiry of the financial year 2023 a comparison is made between the average TVA for the financial years 2021-2023 and TVA for the financial year 2020. The TVA change is expressed as a percentage. The allocation of shares is based on the level of TVA increase. In order for allocation of shares to take place the TVA increase must exceed a certain minimum level (the threshold level). In addition to the threshold level a target level is set. Maximum allotment is awarded if the target level is reached or exceeded. Provided that the TVA increase reaches the target level, the participants of the programme may be allotted the following maximum number of shares per person within the various key groups: CEO and President - 30,000 shares Other members of Group Management - 13,000 shares Managers of large business units and similar - 4,500 shares Other senior managers - 3,000 shares Other key persons - 1,250 shares If the TVA increase exceeds the threshold level for allotment of shares but the final allotment is below 5% of the target level, payment will be made in cash instead of shares, whereupon the amount of the cash payment shall correspond to the value of the shares calculated on the basis of the closing price for SKF's B share the day before settlement. Allotment of shares requires that the persons covered by the programme are employed in the SKF Group during the entire calculation period. If all the conditions included in SKF's Performance Share Programme 2021 are met, allotment of shares shall be made free of charge following the expiry of the three year calculation period, i.e. during 2024. Before the number of shares to be allotted is finally determined, the Board shall examine whether the allotment is reasonable considering SKF's financial results and position, the conditions on the stock market as well as other circumstances, and if not, as determined by the Board, reduce the number of shares to be awarded to the lower number of shares deemed appropriate by the Board. The Board is furthermore entitled to introduce an alternative incentive solution for employees in countries where participation in SKF's Performance Share Programme 2021 is not appropriate. Such alternative incentive solution shall, as far as practicable, be formulated employing the same conditions as SKF's Performance Share Programme 2021. The company has 455,351,068 shares in issue as per 17 February 2021. In order to comply with the obligations of SKF's Performance Share Programme 2021, a maximum number of 1,000,000 B shares are required, corresponding to approximately 0.2% of the total number of outstanding shares. Assuming maximum allocation under the Performance Share Programme 2021 and a share price of SEK 227, the cost, including social security cost, is estimated at approximately MSEK 272. On the basis of a share price of SEK 370, the cost, including social security cost, is estimated at approximately MSEK 444. In addition, the administrative costs are estimated at approximately MSEK 2. The Board does not propose for the time being to take any action to hedge SKF's obligations under the programme. Delivery of shares under the programme shall not take place until 2024. _______________ Special majority requirement The resolution of the Annual General Meeting under item 18 on the agenda will be valid only if it is supported by shareholders holding at least two thirds of the votes cast as well as the number of shares represented at the Meeting. Number of shares and votes, and documentation When this notice is issued, the total number of shares in the company are 455,351,068, represented by 31,371,055 series A shares and 423,980,013 series B shares, with a total number of votes of 73,769,056.3. The company holds no own shares. The annual report, the audit report, statements of the Board of Directors and the auditor, the Board of Directors' complete proposal according to item 18, 19 and 20 of the agenda and the Nomination Committee's reasoned statement will be available at the company's headquarters at Sven Wingquists gata 2, 415 50 Gothenburg, and at the company's website, www.skf.com, no later than from 4 March 2021 and will be sent to shareholders who request this and state their address. The documents will be presented to the Annual General Meeting by being available at the company's website www.skf.com and at the company's headquarters. Further, the share register of the meeting will be available at the company's headquarters. Information at the Annual General Meeting, etc. The Board of Directors and the President shall, upon request by any shareholder and where the Board of Directors believes that it may take place without significant harm to the company, provide information in respect of any circumstances which may affect the assessment of a matter on the agenda, any circumstances which may affect the assessment of the company's or a subsidiary's financial position and the company's relationship to other group companies. A request for such information shall be made in writing no later than ten days before the meeting, i.e. latest by 15 March 2021, to AB SKF, Att. General Counsel, SE-415 50 Gothenburg, Sweden, or by e-mail: chairman@skf.com. The information will be made available at the company's website and at the company's headquarters on 20 March 2021 at the latest. The information will also be sent to the shareholder who has requested it and stated its address. SKF's web-based financial report in English will be made public on 3 March 2021. Proxy forms will be available at the company's website, www.skf.com, and may also be requested by letter to Computershare AB, "AGM 2021 of AB SKF", Box 5267, SE-102 46 Stockholm, Sweden or by phone +46 771 24 64 00. Gothenburg in February 2021 Aktiebolaget SKF (publ) The Board of Directors ________________ Processing of Personal Data Personal data related to a shareholder which is gathered from the shareholders' register, notification on participation in the Annual General Meeting and information about advisors that are to participate or any other information that is otherwise given as set out above, will be processed mainly to register the shareholder, form part of the voting list at the Annual General Meeting and if necessary, the minutes from the Annual General Meeting. The personal data is processed in accordance with the Regulation (EU) 2016/679 of the European Parliament and of the Council. For complete information on the company's processing of your personal data in connection with the Annual General Meeting and your rights, see SKF's website www.skf.com under the heading "About AGM" (which is located under the section "Investors" and "Corporate Governance"). SKF's mission is to be the undisputed leader in the bearing business. We do this by offering solutions that reduce friction and CO2 emissions, whilst at the same time increasing machine uptime and performance. Our products and services around the rotating shaft include bearings, seals, lubrication management, artificial intelligence and wireless condition monitoring. SKF is represented in more than 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2020 were SEK 74 852 million and the number of employees was 40,963. www.skf.com® SKF is a registered trademark of the SKF Group. CONTACT: For further information, please contact:PRESS: Theo Kjellberg, Director, Press Relations tel: 46 31 337 6576, mobile: 46 725-776576, e-mail: theo.kjellberg@skf.com INVESTOR RELATIONS: Patrik Stenberg, Head of Investor RelationsPatrik Stenberg, 46 31-337 2104; 46 705-472 104; patrik.stenberg@skf.com This information was brought to you by Cision http://news.cision.com https://news.cision.com/skf/r/notice-of-annual-general-meeting,c3288267 The following files are available for download: https://mb.cision.com/Main/637/3288267/1374006.pdf Release
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Seizing the $27 billion market, Taiwan's EverFocus Entered the National Defense Transportation Market
EverFocus enters the $27 billion market with best-seller smart vehicle solution NEW TAIPEI CITY, Taiwan, Feb. 17, 2021 /PRNewswire/ -- EverFocus (TWSE: 5484), the leader of AI video analytics solution, excitedly announced it won a large national defense transportation case worthies NT$ 200M, showing market's recognition and trust in the reliability of EverFocus. In the past few years, the company stepped into the industrial PC market. By having the same CEO, YS Chuang, EverFocus has close relationship with AAEON Technology Inc. People could find EverFocus is Intel partner alliance member and NVIDIA preferred partner member simultaneously. The AI video analytics technique and integration experience empowered EverFocus to become the dark horse in global IPC battleground. Not merely providing smart vehicle solution, the ambitious Taiwanese company is expanding the business territory to smart surveillance, smart campus and even health care market. MIT (Made in Taiwan) national team pioneer, EverFocus is always reliable Global Market Insight released a new survey on the National defense Transportation market. The report indicates that by 2026, the market will be worth more than 27 billion US dollars. Tony Chang, the senior manager of the Asia-Pacific region, is the key man of winning the large national defense transportation case. His team helped the company entered the large potential market. EverFocus has been cultivated the MDVR (mobile digital video recorder) market for over ten years and it undoubtedly to be the company's best-seller product. As a pioneer of the MIT(Made in Taiwan) national team, EverFocus released a made in Taiwan total solution of driving assistance systems that meet the specifications of the auto industry, while also strictly ensured the quality of the product pre-sales and post-sales. EverFocus' supply chain roadmap aimed to the potential national defense transportation Market Steve Hsu, the senior consultant of EverFocus, appointed that his observation about the market is investing in the development of new products integrated with front-end technology to meet the growing needs of the national defense sector. EverFocus' smart vehicle solution contained front-end vehicle camera lenses, driving assistance devices, to the back-end AI supported edge computing industrial computer. The one-stop supply chain has been built, now is the best chance and time to cooperate with EverFocus to build a more comprehensive safety transportation network. Learn more about EverFocus: https://www.everfocus.com.tw/ Cooperation Contact: sales@everfocus.com.tw Related Links :https://www.everfocus.com.tw/
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REE Automotive Opens New Engineering Center of Excellence in the UK
REE Automotive (REE), a leader in e-Mobility, which recently announced its merger with 10X Capital Venture Acquisition Corp. (NASDAQ: VCVC), today announces the establishment of a new state-of-the-art Engineering Center of Excellence. The new Engineering Center will expedite REE’s strategic plans to meet anticipated global demand for its breakthrough REEcorner and Electric Vehicle (EV) platform technology. The Engineering Center will spearhead REEcorner and EV platform engineering design, validation, verification and testing, as well as product homologation. REE will also have access to world-class test facilities and a proving ground for physical testing and validation of the REEcorner and EV platform at the MIRA Technology Park in the UK. REE’s unique CapEx-light manufacturing model will utilize globally located integration centers, creating scalable and agile unit economics. REE intends to assemble components at its integration centers, thus reducing Capex requirements, and expects to establish a network of 15 integration centers with the first one set to open in the US in 2021. REE plans to manufacture via a secured and exclusive global network of Tier 1 partners in over 30 countries, with point-of-sale assembly. Daniel Barel, REE's Co-Founder and CEO: "I am excited to announce another major milestone for REE towards bringing our technology and products to the market as we expand our global footprint. With the recent announcement that we plan to go public via a SPAC through our merger with 10X Capital Venture Acquisition Corp. and funding from long-term strategic investors including Koch Strategic Platforms, Mahindra & Mahindra and Magna International, REE would have sufficient capital to accelerate mass production of REEcorner technology and modular EV platforms. The first REEcorners are expected to be delivered to customers in 2022, with mass production beginning in 2023. This new Engineering Center is a state-of-the-art facility allowing us to accelerate our validation, verification and testing as well as product homologation.” REE's technology empowers global mobility companies with the flexibility to build electric and autonomous cars, vans and trucks of any size or shape, for any application, and any target market. REE's proprietary REEcorner X-by-wire technology integrates all critical vehicle components (steering, braking, suspension, powertrain and control) into the arch of the wheel. This groundbreaking concept, unique to REE, allows a completely flat and modular electric chassis and provides customers with full design freedom to create the broadest range of electric and autonomous vehicles. EVs and AVs built on REEcorner and EV platform technology will offer more room for passengers, cargo, and batteries in a manner unprecedented in the industry. REE’s proprietary technology is agnostic to vehicle size and design, power-source and driving mode (human or autonomous). Lord Grimstone of Boscobel Kt, Minister for Investment at the Department for International Trade: "The UK is the most welcoming location for a pioneering automotive company like REE thanks to our leading position in both CAM and vehicle electrification. The Government's multi-million ‘Driving the Electric Revolution’ program, which drives forward new solutions in automotive power electronics, motors and drives, has played a major role in bringing this exciting investment to the UK. I wish the company every success in its new home." Mike Charlton, REE's COO, who is responsible for the launch stated, "A key driver in our decision to establish our presence in the UK is the UK government's forward-thinking vision and zero-emissions policy that perfectly aligns with REE's goal of heralding a more sustainable, greener future for our generation and those to come.”
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Autoliv Announces New Inflator Manufacturing Plant in India
BANGALORE, India, Feb. 16, 2021 /PRNewswire/ -- Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive safety systems, announced its plan to build a new inflator manufacturing plant in India, focused toward supporting its strong Indian market position. This is the latest development in Autoliv's long commitment to the Indian market through its world class life-saving solutions for mobility and society. Autoliv India has its corporate office, Engineering Centre, and Airbag facilities in Bangalore. The new inflator plant will be built close to Chennai and will serve Indian demand. The localization of inflator production will meet customer requirements while mitigating global supply chain disruptions and fluctuations. The new inflator plant will further encourage sustainable market growth in India from global and local OEMs. Autoliv entered the Indian market in 1994 and has since become the clear leader, with six facilities, in this dynamic market. "The establishment of the new inflator plant is another milestone of Autoliv's development in India, demonstrating our strong commitment to customers and to the Indian market," said Mr. Joydeep Roy, Autoliv India President and Managing Director. "We are optimistic about the business prospect here. We will continue our dedicated work of leading the way to Saving More Lives in India and being a trusted supplier and partner to our customers," he added. Inquiries:Gabriella Ekelund, Tel +46 (70) 612 64 24Catherine Fu, Communications Director, Tel +86-21-69925406 About Autoliv Autoliv, Inc. is the worldwide leader in vehicle safety systems, and through our subsidiaries we develop, manufacture and market protective systems, such as airbags, seatbelts, steering wheels and pedestrian protection systems for all major automotive manufacturers in the world. In 2020, our products save over 33,000 lives each year and prevented ten times as many severe injuries. Our more than 68,000 associates in 27 countries are passionate about our vision of Saving More Lives and quality is at the heart of everything we do. We have 14 technical centers, with 20 test tracks. Sales in 2020 amounted to US $ 7,447 million. The shares are listed on the New York Stock Exchange (NYSE: ALV) and the Swedish Depository Receipts on Nasdaq Stockholm (ALIV sdb). For more information go to www.autoliv.com. Safe Harbor Statement This report 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 Autoliv, 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 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 such 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 https://news.cision.com/autoliv/r/autoliv-announces-new-inflator-manufacturing-plant-in-india,c3288003 The following files are available for download: https://mb.cision.com/Main/751/3288003/1373858.pdf Press release (PDF)
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NEXPORT announces exclusive distribution and collaboration agreement for BYD Electric Vehicles in Asia Pacific
SYDNEY, Feb. 16, 2021 /PRNewswire/ -- Nexport Pty Ltd has successfully negotiated a long-term exclusive agreement for the distribution of BYD right-hand drive electric vehicles. BYD Auto Industry Limited is the largest selling electric car company in China with sales in 2020 in excess of 415,000 cars. Nexport/BYD exclusive Asia Pacific agreement for electric cars signed via Zoom with Mr Liu BYD electric cars to be sold in Australia and Asia Pacific At a signing ceremony today on Sydney Harbour, Mr Luke Todd, Managing Director of Nexport Pty Ltd and Mr Liu Xueliang, General Manager of BYD Asia Pacific, signed (via zoom) an exclusive distribution agreement to supply the next generation of BYD passenger and commercial vehicles into the right-hand drive markets of Australia and Asia Pacific. The European styled and designed BYD passenger models are expected to compete head-to-head with petrol/diesel models across categories in both performance and price. Pre-sales orders will be available by end of quarter 2, 2021. 'This is exciting news for Australian consumers who will soon be able to access affordable, best of class electric vehicles in both the passenger and commercial space," said Luke Todd, Managing Director of Nexport. "The right-hand markets have been undersupplied in the electric vehicle space and this agreement ensures certainty of local supply in these best of class electric vehicles," Todd continued. Today's agreement further cements the existing supplier relationship with Nexport & BYD who already supply electric bus chassis for NSW government buses. About Nexport Pty Ltd Nexport Pty Ltd is a leading supplier of zero emissions vehicles in the Australian transport market and is the leading supplier on the NSW government panel to provide Electric Buses to NSW. Nexport also owns Electric taxis and is launching a direct to customer electric car portal EVDIRECT. Nexport is part of the TrueGreen Impact Group, a positive impact investment company. About BYD Auto Industry Ltd BYD is a world leading manufacturer of electric vehicles. It is dedicated to providing zero-emission energy solutions. BYD is listed on the Hong Kong and Shenzhen Stock Exchanges, with revenue and market capitalization each exceeding RMB 100 billion. Warren Buffett's Berkshire Hathaway owns 25% of BYD.
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LIQUI MOLY reports a slump in profits of 50 percent
The lubricant specialist LIQUI MOLY was also not spared from the pandemic. Sales rose by 7.1 percent to a new record level. In the USA and Canada, the increase was particularly large at 17 percent. Earnings, however, fell significantly due to an investment program worth millions. Managing Director Ernst Prost is nevertheless optimistic: “Thanks to our energetic measures, we are continuing to grow and are still operating in the black. Our solid economic performance in recent years, with no bank debt, is helping us cope with the consequences of the crisis.” LIQUI MOLY’s turnover increased by 7.1 percent to 611 million euro in 2020. The LIQUI MOLY USA/Canada subsidiary played a special role in this, boosting sales by as much as 17 percent. Given the devastating effects of the pandemic on the global economy and the decline in global consumption of oil and fuel, this is a great achievement. Revenue halved to 25 million euro – partly because the medium-sized enterprise invested almost 45 million euro in marketing measures during the crisis. In addition, more than 100 new employees were hired. This brings the total number of employees to 989 at the end of 2020. “We fought to set ourselves apart from our competitors. Despite a vigorous implementation of hygiene measures, protection concepts and working from home, we were there for our customers around the clock and increased our presence in all media enormously. The fact that we are growing is only the logical consequence of our actions,” the Managing Director describes his course. Thanks to the company’s solid starting position, with a balance sheet total of 208 million euro together with an equity position of 168 million euro and an equity ratio of over 80 percent, the lubricant specialist had sufficient strength to make the necessary investments without borrowed capital and credit burdens. According to Ernst Prost, these investments have paid off: “Thanks to the course we took, we were able to make good gains by the end of the year.” At the same time, he affirms that LIQUI MOLY could have achieved a much higher sales increase. “We felt the ‘shortage economy’ in all areas, due to coronavirus, lockdown short-time work and working from home at our upstream suppliers. As a result, we experienced a noticeable decline in raw materials, packaging materials, labels, closures and also in the logistics and freight capacities,” says the Managing Director. - Social responsibility The company again made headlines in 2020 with its social responsibility. A coronavirus allowance for all employees as well as product donations worth more than 5.5 million euro to fire brigades, rescue services, first-aid associations and other non-profit organizations were a matter of course for the medium-sized business. “In times like these, we have to stick together and everyone should work for the common good as much as possible,” says Ernst Prost. - High domestic growth rates Unlike in previous years, LIQUI MOLY’s turnover in Germany increased more strongly this time than in export. Nevertheless, exports are also showing stable growth, such as business in the USA and Canada. - Good growth across all segments Overall, all divisions of the full-range supplier were successful. In the core business of the company, motor oils, sales increased by 6.4 percent. The fact that people are, of necessity, traveling less and spending more leisure time at home is also reflected in the increase in sales of products for motorcycles, bicycles and boats. - Outlook In 2019, July and August were record months with sales of almost 60 million euro each. Sales in November and December 2020 were also among the best in the company’s history. Ernst Prost is certain that the company will hold a very good starting position for 2021 and will be able to again reach or even exceed the sales records: “We’re reaping the rewards of our 2020 advertising push this year, and we’re going full throttle in 2021 as well.” The lubricant manufacturer is planning further investments, especially in its own logistics, to ensure continued growth.
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Hyundai Reveals IONIQ 5's Living Space and Sustainable Interior Ahead of Virtual World Premiere
Interior images released ahead of virtual world premiere event slated for Feb. 23 Vehicle interior furnished with sustainable materials and textiles such as eco-processed leather, bio paint as well as natural and recycled fibers Dedicated BEV platform allows long wheelbase and flat floors compared to midsize CUVs with conventional powertrains, enabling a breakthrough interior design Inspired by 'Living Space' theme, IONIQ 5 designers were able to offer a distinctively different interior experience not possible before SEOUL, South Korea, Feb. 15, 2021 /PRNewswire/ -- Hyundai Motor Company today released a new image, revealing the spacious and versatile interior of the much-anticipated IONIQ 5, which will make its virtual world premiere on February 23, 2021. IONIQ 5 is the BEV model to utilize the Electric-Global Modular Platform (E-GMP). This BEV-dedicated platform houses a flat battery that enables a spacious and customizable interior, offering personalized mobility with flexible configurations to comfortably accommodate both passengers and cargo. Furnished with primarily eco-friendly materials and textiles, the interior design reflects consumers' rising interest in personal transportation that supports well-being as well as demand for more ethical and sustainable products. "IONIQ 5 is a statement of design that offers an optimistic look at what customers can expect in the new EV era," said SangYup Lee, Senior Vice President and Head of Hyundai Global Design Center. "The long wheelbase is translated to a new dimension of space. We designed this special space as a perfect place to recharge, Your home away from home." 'Living Space' inspired interior opens a new dimension of design IONIQ 5 sets itself apart from other midsize crossovers, especially those with internal combustion engines and conventional Steer-by-Wire systems, because the E-GMP allows for an elongated wheelbase and flat floor. IONIQ 5's driver and passengers can freely enter and exit the cabin on either side when parked in a narrow spot, because the flat floor allows the center console to slide back and forth. This resulted in a fundamental rethink of the conventional center console and to offer greater function than a static storage box. The newly developed 'Universal Island' replaces the center console and becomes the centerpiece of the IONIQ 5's living space experience. The driver and front passenger seats are equipped with leg rests that allow passengers to 'relax and recharge' while their vehicle is being recharged. All seats can be operated and repositioned, making it easier for adults in the front to care for children and pets seated in the rear. Reducing negative environmental impact with high-quality, eco-friendly interiors While developing IONIQ 5, Hyundai put considerable thought into what consumers were looking for in a car. One of the clear demands was the need for more eco-conscious mobility solutions with lower environmental impact. Designers addressed these concerns through IONIQ 5's use of eco-friendly and sustainably sourced materials. The seats are clad in an eco-processed leather that is dyed and treated with plant oil extractions from flaxseed. Other soft furnishings throughout the cabin consist of textiles derived from sustainable fibers such as sugar cane bio components, wool and poly yarns, as well as material woven from fibers made from recycled PET plastic bottles. Surfaces such as the dashboard, switches, steering wheel and door panels are coated in a polyurethane bio paint composed of oils from rape flowers and corn. World Premiere of IONIQ 5 Hyundai will debut IONIQ 5 during the virtual world premiere event on February 23, 2021. During the event, Hyundai will unveil details about IONIQ 5's innovative features and how customers can benefit from this dedicated BEV model. More information about Hyundai Motor and its products can be found at: http://worldwide.hyundai.com or http://globalpr.hyundai.comRelated Links :http://worldwide.hyundai.com/
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Senmiao Technology Announces Closing of $7 Million Registered Direct Offering
CHENGDU, China, Feb. 11, 2021 /PRNewswire/ -- Senmiao Technology Limited (Nasdaq: AIHS) ("Senmiao") a provider of automobile transaction and related services targeting the online ride-hailing industry in China as well as an operator of its own online ride-hailing platform, today announced that it has closed a registered direct offering of an aggregate of 5,072,465 shares of common stock at a price of $1.38 per share for aggregate gross proceeds of $7.0 million. The Company has approximately 49.3 million common shares outstanding after the offering. Senmiao intends to use the net proceeds from the offering for the continued expansion of its business, including the purchase of automobiles and development of its online ride-hailing platform. FT Global Capital, Inc. is acting as the exclusive placement agent in connection with the offering. Ellenoff Grossman & Schole LLP acted as counsel to the Company and Schiff Hardin LLP acted as counsel to the Placement Agent in connection with the placement. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Senmiao Technology Limited Headquartered in Chengdu, Sichuan Province, Senmiao provides automobile transaction and related services including sales of automobiles, facilitation and services for automobile purchase and financing, management, operating lease, guarantee and other automobile transaction services. Senmiao also operates its own ride-hailing platform aimed principally at the growing online ride-hailing market in Senmiao's areas of operation in China. For more information about Senmiao, please visit: http://www.senmiaotech.com. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements also are subject to risks, uncertainties and assumptions, including those detailed from time to time in the Senmiao's filings with the SEC, and represent Senmiao's views only as of the date they are made and should not be relied upon as representing Senmiao's views as of any subsequent date. Senmiao undertakes no obligation to publicly revise any forward-looking statements to reflect changes in events or circumstances. For more information, please contact: At the Company: Yiye Zhou Email: edom333@ihongsen.com Phone: +86 28 6155 4399 Investor Relations: The Equity Group Inc. In China Adam Prior, Senior Vice President Lucy Ma, Associate (212) 836-9606 +86 10 5661 7012 aprior@equityny.com lma@equityny.com Related Links :http://www.senmiaotech.com
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Hyundai Motor Group Unveils TIGER Uncrewed Ultimate Mobility Vehicle Concept
Hyundai's first uncrewed ultimate mobility vehicle (UMV) concept is revealed today as TIGER, which stands for transforming intelligent ground excursion robot. TIGER is intended to carry payloads over remote and inaccessible terrain and designed to operate as a four-wheel drive vehicle or a four-legged walking machine. The vehicle is being developed by Hyundai Motor Group's New Horizons Studio in partnership with Autodesk and Sundberg-Ferar. SEOUL, South Korea and MOUNTAIN VIEW, Calif., Feb. 10, 2021 /PRNewswire/ -- Hyundai Motor Group has revealed TIGER (Transforming Intelligent Ground Excursion Robot), the company's second Ultimate Mobility Vehicle (UMV) and the first designed to be uncrewed. The transforming intelligent ground excursion robot is designed to carry various types of payload while traveling over challenging terrain. Experience the interactive Multichannel News Release here: https://www.multivu.com/players/English/8851351-hyundai-motor-group-tiger-uncrewed-ultimate-mobility-vehicle-concept/ TIGER is being developed by Hyundai Motor Group's New Horizons Studio, headquartered in Mountain View, California. The studio was established in late 2020 to develop UMVs drawing on research and innovation leadership from Silicon Valley and other innovation hubs. "Vehicles like TIGER, and the technologies underpinning it, give us an opportunity to push our imaginations," said Dr. John Suh, Head of New Horizons Studio. "We are constantly looking at ways to rethink vehicle design and development and re-define the future of transportation and mobility." Concept vehicle showcases capability across remote and inaccessible terrain TIGER's exceptional capabilities are designed to function as a mobile scientific exploration platform in extreme, remote locations. Based on a modular platform architecture, its features include a sophisticated leg and wheel locomotion system, 360-degree directional control, and a range of sensors for remote observation. It is also intended to connect to unmanned aerial vehicles (UAVs), which can fully charge and deliver TIGER to inaccessible locations. First version designed in Silicon Valley with global development partnerships The first version of TIGER is X-1 (the X stands for experimental) and brings together a wide-range of technological and design expertise. The project is being led by Hyundai Motor Group's New Horizons Studio, while working in close partnership with Autodesk, a leading engineering design software company. New Horizons Studio - home to Hyundai Motor Group UMV development New Horizons Studio, headquartered in Mountain View, California, develops vehicles with unprecedented mobility. Products from the studio target users with a need for travel and mobility across unconventional and off-road terrains, including places that cannot be reached by conventional wheeled vehicles. UMVs developed by New Horizons Studio can be subject to more challenging applications and environments, and adaptable to changing conditions. The showcase video of TIGER X-1 is available at Group's official YouTube channel. For more information, please visit: globalpr.hyundai.com Related Links :http://globalpr.hyundai.com
