Automotive Transformation Group acquires leading automotive software supplier SalesMaster
Radford announces details of global Project 62 launch and the acquisition of the iconic Gold Leaf livery trademark
Harmons to Accept Mobile Driver’s Licenses as Part of Utah Pilot Program
B2B Automotive Trading Platform TRADE X Secures C$44 Million in New Equity Financing for Global Expansion
Johnson Matthey drives world-leading fuel cell performance, increasing power density by 20%
Compact International(1994) Aspires to Become the Leading Electric Cars' Brakes Manufacteurer
Toyota partner with Fleetsu to offer Connected Fleet Management Solution
Lucid Motors Debuts on Nasdaq Through Merger with Churchill Capital Corp IV
Techking Launches its First Overseas Service Center(TSC): A Milestone in Global Implementation of Three-lever Development Model
Avielan Develops Car Lashing with Patented Twisted Hook, World's First
PRT launches 173 Complete Strut Assemblies for APAC
BUFORD, Ga. and SINGAPORE, July 26, 2021 /PRNewswire/ -- PRT, a global leading brand of Automotive Shocks, Struts and Complete Strut Assemblies, continues to add to its expansive portfolio of products for the Asia-Pacific market with the launch of 173 complete strut assemblies for light vehicles, SUVs, and pick-ups. PRT launches 173 Complete Strut Assemblies for APAC This new line of products, which adds to PRT's portfolio of 2,700 OEM quality products, are tailored for some of the most popular and newest vehicle models in the region such as the Ford Transit, Hyundai Santa Fe, and Jeep Commander. Also available are new assemblies for the Kia Sorento and Honda Civic. Based on international studies, the aftermarket parts industry in the Asia-Pacific is expected to rise in the next few years, and the new products affirm PRT's position as a trend leader who constantly listens to customer feedback. "We want to follow this growth trend after the pandemic and continuously offer all our customers with OEM-quality and price-competitive aftermarket products for their vehicles," says Bruno Bello, Category and Marketing Manager at PRT. PRT's new complete strut assemblies are part of the brand's catalogue of products that feature seamless working cylinders, mounts and sleeves, and are made specifically for various vehicles to ensure compatibility and high performance. The products are an all-in-one package solution with OEM quality components designed to replace the regular struts and bearing plate in one pre-assembled unit and also integrate the coil spring, dust cover, and spring seat. This makes the complete strut assemblies easy to install and can save customers and clients up to 50% of repair time in comparison with the regular strut maintenance. "As an OEM Supplier, PRT continuously invests in research and development of new products. These new items serve to expand our application range and coverage for the APAC aftermarket parts industry," adds Bello. About PRT PRT (Performance Ride Technology) has been operating for more than 25 years and has a major presence in over 67 countries. PRT produces parts that can be used in almost all types of vehicles, from cars, to SUVs, and even trucks. PRT is ISO-certified and adheres to the strictest quality standards of car manufacturers. For more information, you can reach PRT's customer relationship service by calling +66 (61) 541-5546 or email: email@example.com. You can also visit its website: www.prtautoparts.com. Follow PRT's social media pages: facebook.com/prtautoparts instagram.com/prtautoparts twitter.com/prt_autoparts pinterest.com/prtautoparts
Hyundai Motor Group Honorary Chairman Mong-Koo Chung Inducted Into Automotive Hall of Fame at Official Ceremony
Honorary Chairman Chung becomes the first Korean to receive the accolade, industry's top honor Chung recognized for being driving force behind the Group's success, and a steadfast champion of the auto industry and the Korean economy Dedication to vehicle quality, global expansion of R&D and manufacturing network have been key to Chung's approach Hyundai Motor Group continues to pursue progress for humanity DETROIT and SEOUL, South Korea, July 23, 2021 /PRNewswire/ -- Hyundai Motor Group Honorary Chairman, Mong-Koo Chung, has been officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony. The industry's top honor was presented to the class of 2020 at a celebration held at the ICON Convention Center in Detroit on July 22. Hyundai Motor Group Honorary Chairman, Mong-Koo Chung, has been officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony. The induction ceremony was attended by Hyundai Motor Group Chairman Euisun Chung, who participated in Honorary Chairman Mong-Koo Chung’s place. The induction ceremony was attended by Hyundai Motor Group Chairman Euisun Chung, who participated in Honorary Chairman Mong-Koo Chung's place. Chairman Chung received the induction trophy and made a speech on behalf of his father. "Honorary Chairman Chung grew Hyundai Motor group into the world's fifth largest automaker from its humble beginning. If my father were here, he would say he owes this honor to our employees, dealers and fantastic customers," said Euisun Chung. "My father continued the legacy of my grandfather Ju-yung Chung, who founded Hyundai. He expanded the Group's presence globally and continued to pursue excellence in quality. He made the Group something that employees and customers can all be proud of." Hyundai Motor Group Honorary Chairman, Mong-Koo Chung, has been officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony. The induction ceremony was attended by Hyundai Motor Group Chairman Euisun Chung, who participated in Honorary Chairman Mong-Koo Chung’s place. (From left to right) Ramzi Hermiz, Chairman of the Board, Automotive Hall of Fame, Euisun Chung, Chairman of Hyundai Motor Group and K.C. Crain, President and CEO of Crain Communications. Chairman Chung also did not forget to mention his vision for the future. "As Hyundai embraces the challenges and the opportunities of the 21st century, we will continue to strive for excellence, challenge convention and lead the evolution of smart mobility. We will realize progress for humanity," said the Chairman. According to the Automotive Hall of Fame, Hyundai Motor Group's success owes much to Honorary Chairman Chung, and his legacy is on par with other legends of the industry who have launched and guided automotive firms to global growth and renown. Through his leadership, Hyundai Motor Group became the world's fifth-largest automotive group. Hyundai Motor Group Honorary Chairman, Mong-Koo Chung, has been officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony. The induction ceremony was attended by Hyundai Motor Group Chairman Euisun Chung, who participated in Honorary Chairman Mong-Koo Chung’s place. The Automotive Hall of Fame also took note of Chung's many accomplishments, including: Acquiring Kia Motors Corporation into Hyundai Motor Group Spearheading the Group's growth with new plants in key regions, including United States, Europe, China, India, Brazil and Russia Creating a highly efficient, vertically integrated business structure that produces everything from steel to vehicles The Automotive Hall of Fame was established in 1939 to honor notable business leaders who have contributed significantly to the advancement of the automotive industry and mobility. Chung becomes the first Korean to receive this honor, which was first announced in February 2020. The Automotive Hall of Fame previously honored Chung with its Distinguished Service Citation Award in 2001. Hyundai Motor Group Honorary Chairman, Mong-Koo Chung, has been officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony. The induction ceremony was attended by Hyundai Motor Group Chairman Euisun Chung, who participated in Honorary Chairman Mong-Koo Chung’s place. Due to COVID-19 restrictions, this year's Automotive Hall of Fame Induction Ceremony celebrated the inductees for the years 2020 and 2021. Inductees announced in 2020 include Thomas Gallagher, former CEO of Genuine Parts Company; Jay Leno, automotive heritage leadership through his Jay Leno's Garage series on CNBC; and Helene Rother, one of the first women in automotive interior design for General Motors, Nash Motors. The class of 2020 also included Mobility Innovator Awardee Harold Goddijn, CEO and co-founder of TomTom technologies. Inductees announced in 2021 include C.R. Patterson and Frederick Patterson, leaders of the U.S.'s first and only African American owned auto manufacturer; and Charlie Wiggins, a barrier-breaking motorsports racer and engineer. During the Induction ceremony, a tribute video was played to show the Honorary Chairman's accomplishments and contributions to the automotive industry. In the meantime, NEXO and IONIQ 5 were on display to demonstrate Chung's contribution to spearheading the industry's efforts to advance hydrogen fuel cell technology and electrification. The day before the induction ceremony, an engraving of Chairman Chung's signature was placed on permanent display at the Automotive Hall of Fame along with the signatures of the other inductees. Mong-Koo Chung: Passion and relentless drive for quality Mong-Koo Chung, Honorary Chairman of Hyundai Motor Group, championed the development of the Korean economy and the automotive industry while also growing Hyundai Motor Group into one of the top five automotive groups globally – achieved in an historically short period of time for the sector. Chung led the acquisition of Kia Corporation and turned it into a profitable company within the first year of acquisition. With his passion for quality and a determination to foster its own R&D capabilities, he created Korea's first and only automotive group while simultaneously growing the auto parts and materials industries. Honorary Chairman Chung often emphasized that the best quality is a virtue that cannot be compromised. Through his continued focus on quality, Hyundai and Kia vehicles now receive favorable reviews from global quality assessment agencies around the globe. The 10-year, 100,000-mile powertrain warranty implemented in the U.S. market in 1998, one of Chung's initiatives, laid the foundation for Hyundai to grow into a global powerhouse. Despite concerns over large-scale investment, Chung spearheaded global expansion of the Group's production capabilities and R&D network. Under his leadership, Group's production facilities expanded its presence across the world including the U.S., Europe, China, Russia, Brazil and Mexico, creating a system for rapid growth and endurance. A global network of production and R&D gave Hyundai Motor Group a competitive edge that allowed it to survive through numerous global economic crises. He also helped to develop Korea's materials industry by building an integrated steel mill that maximized synergy across the Group, and created the world's first resource-circulating business structure, presenting a new ideal for sustainable management. Honorary Chairman Chung recognized the potential in hydrogen energy and encouraged the development of hydrogen fuel cell electric vehicles ahead of other manufacturers, allowing the company to introduce the world's first mass-production hydrogen fuel cell electric vehicle in 2013. His innovative leadership and business philosophy has been recognized and celebrated through various awards over the years, including Korea Management Association's CEO of the Year Award (1996), Business Week's Auto CEO of the Year (2004), Automotive News' Top Automotive CEO in Asia (2005), Van Fleet Award (2009), and inclusion in Harvard Business Review's 'CEO 100'. Honorary Chairman Mong-Koo Chung Profile Education Bachelor's degree in Industry Business Administration, Hanyang University Experience2020.9 ~ Honorary Chairman, Hyundai Motor Group2000 ~ 2020 Chairman, Hyundai Motor Group 1999 ~ 2000 CEO & Chairman, Hyundai Motor Co. & Kia Motors Corp.1996 ~ 2000 Chairman, Hyundai Group1987 ~ 1996 Chairman of Hyundai Precision Industry, Hyundai Motor Service, Hyundai Pipe, Hyundai Development Company and Incheon Iron & Steel1970 Manager, Hyundai Motor Company About Hyundai Motor Group Hyundai Motor Group is a global corporation that has created a value chain based on automobiles, steel, and construction and includes logistics, finance, IT and service. With about 250,000 employees worldwide, the Group's automobile brands include Hyundai, Kia and Genesis. Armed with creative thinking, cooperative communication and the will to take on all challenges, the group is working to create a better future for all. For more information about Hyundai Motor Group, please see: www.hyundaimotorgroup.com More information about Hyundai Motor and its products can be found at: worldwide.hyundai.com or globalpr.hyundai.com Visit the Kia Motors Global Media Center for more information: www.kianewscenter.com For more information on Genesis and its new definition of luxury, please visit https://www.genesis.com Disclaimer: Hyundai Motor Group 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.
CANGO Auto View: China's Automobile Industry - at the Brink of a New Era
SHANGHAI, July 23, 2021 /PRNewswire/ -- With the evolving landscape of the global automotive industry, Cango Inc. (NYSE: CANG) ("Cango" or the "Company") is issuing a bi-monthly industry insight called "CANGO Auto View" to bring readers, drivers and passengers up to speed with what's on offer in the automobile market, what trends are emerging, and what holes need to be plugged. Below is an article from the Company's 4th edition for June 2021. If we were to split the auto industry's hundred-year history into four developmental stages, it would look something like this. The first was the era of the earliest automakers, headed by Mercedes-Benz, becoming luxury car brands with illustrious history; the second stage was about US car manufacturers such as Ford that invented the assembly line, built up price advantage and started marketing their products worldwide; in the third stage, companies represented by Toyota seized the opportunity during the energy crisis, and gained market share with compact, low-emission and high-quality products; and the fourth stage, where we are now, is four new trends for OEMs – electrification, intelligence, connectivity, and shared mobility. Just as 3G technology gave birth to the PC Internet era and 4G kicked off the mobile Internet wave, the invention of 5G opens up the imagination for the transformation of traditional manufacturing industries, including the automotive industry. The increasing maturity of 5G is also pushing the global automotive industry to speed up its journey towards electrification, intelligence, connectivity, and shared mobility. According to industry experts, the cost of single data unit transmission will be reduced significantly because of the greatly increased network capacity powered by 5G. More importantly, because electric vehicles have inherent advantages in term of intelligence development such as the short latency, with the deployment of 5G networks and the acceleration of auto intelligence, more users are expecting increasing intelligence of new energy vehicles. An Conghui, President of Geely Holding Group, CEO and President of Geely Auto Group, stated that the industry is headed towards electrification, intelligence, connectivity, and shared mobility, while Chinese companies enjoy natural advantages at this stage. For example, when it comes to electrification, China is the largest market, where both the government and consumers have their own needs for environmental protection and air quality improvement; in the field of Internet of Vehicles (IoV), Chinese consumers have the highest acceptance of the Internet, and China owns the largest number of IoV companies and related developers and engineers, which helps the application of the Internet in automobiles. If we take a global look, the four new trends have become the consensus of mainstream auto companies. Be it large domestic auto groups such as FAW and Changan Automobile, emerging automakers including Neo, Weltmeister and Li Auto, or multinationals like GM and Volkswagen, they have all formulated detailed plans to "embrace the era of electrification." This is an industry overhaul where both old and new players are eager to try it out. Have a look at some targets outlined by leading global carmakers in this space: Volkswagen: sales of pure electric vehicles to account for more than 70% of car sales in Europe by 2030 Audi: stop developing new internal combustion engines Bentley: PHEV or EV models to be available in all car series by 2026, and all products to be purely electric in 2030 BMW: pure EV sales to increase by more than 50% every year by 2025 MINI: all MINI models to be purely electric in early 2030s Mercedes-Benz: discontinue production or sales of all traditional fuel vehicles and provide hybrid or pure electric versions for all models by 2022 Jaguar: become a pure electric luxury car brand in 2025 Land Rover: launch 6 pure electric products in the coming 5 years Volvo Cars: fully electrified by 2025, with pure electric models accounting for up to 50%, and transform into a pure electric brand by 2030 General Motors: zero carbon emissions from new cars sold by 2035 and carbon neutrality by 2040 Ford Motor: stop selling any form of internal combustion engine vehicles in the UK and Europe, and achieve full electrification by 2030 Nissan: achieve 100% electrification of new models in core markets in the early 2030s and realize carbon neutrality by 2050 Toyota Motor: new electrified vehicles sales to exceed 5.5 million in 2025, with over 4.5 million HEVs and PHEVs and over 1 million EVs and FCEVs About Cango Inc. Cango Inc. (NYSE: CANG) is a leading automotive transaction service platform in China connecting dealers, financial institutions, car buyers, and other industry participants. Founded in 2010 by a group of pioneers in China's automotive finance industry, the Company is headquartered in Shanghai and engages car buyers through a nationwide dealer network. The Company's services primarily consist of automotive financing facilitation, car trading transactions, and after-market services facilitation. By utilizing its competitive advantages in technology, data insights, and cloud-based infrastructure, Cango is able to connect its platform participants while bringing them a premium user experience. Cango's platform model puts it in a unique position to add value for its platform participants and business partners as the automotive and mobility markets in China continue to grow and evolve. For more information, please visit: www.cangoonline.com. Media Contact: Juliet YeCango Inc.Tel: +86 21 3183 5088 ext.5581Email: firstname.lastname@example.orgTwitter: https://twitter.com/Cango_Group
REE and 10X Announce Closing of Business Combination
REE Automotive Ltd. (“REE”), a leader in e-Mobility, today announced the completion of its merger with 10X Capital Venture Acquisition Corp (“10X”, Nasdaq: VCVC). The business combination was approved at a special meeting of 10X’s stockholders on July 21, 2021 and closed today, July 22, 2021. Following the merger, the combined company is named REE Automotive Ltd. Beginning on Friday, July 23, 2021, REE’s Class A ordinary shares and warrants will trade on Nasdaq under the ticker symbols “REE” and “REEAW”, respectively. Daniel Barel, REE Co-Founder and Chief Executive Officer, stated: “Today marks a significant milestone for REE as we enter the public markets with a tremendous opportunity ahead of us. We believe that our REEcorner™ technology and fully-flat and modular EV platforms will be the cornerstone for the booming commercial electric vehicle market, as we partner with prominent EV market players across the globe. We are rethinking design and manufacturing for tomorrow’s zero-emission electric and autonomous vehicles, ultimately working to improve quality of life for people around the world by advancing e-Mobility. Our solutions will allow complete EV design freedom, and we plan to enable end customers, such as delivery & logistic companies, OEMs, Mobility-as-a-Service and e-commerce companies to design mission-specific EVs tailored to their needs.” “OurREEcorner™ technology integrates critical vehicle components including steering, braking, suspension, powertrain and control into a compact module between the chassis and the wheel, using x-by-wire technology for steering, driving & braking. This innovation has enabled REE to develop a modular, fully-flat skateboard chassis with more room for passengers, cargo and batteries that will be highly adaptable to customers. Platforms using REEcorners™ can fit any vehicle size and design, power-source and driving mode, enabling REE to target a $700 billion total addressable market and help OEMs, delivery fleets, Mobility-as-a-Service providers and new mobility players get to market faster and at a fraction of the cost.” During 2021, REE has executed strategic collaborations with industry leaders such as Magna International, Hino Motors (a subsidiary of Toyota Motor Corporation), American Axle and Navya. Recently, REE also forged a strategic collaboration with EAVX, a newly formed business unit of JB Poindexter & Co (JBPCO), which serves commercial work truck body and accessory industry leaders including Morgan Corporation and Morgan Olson. REE and EAVX will develop best-in-class, zero-emission, commercial EV work trucks for existing and new customers that will integrate REEcorners™ and JBPCO commercial vehicle body solutions, bringing ‘Powered by REE’ EVs to North American markets. “Daniel and his leadership team have delivered on every promise to 10X Capital, our investors, and REE’s stakeholders by consistently executing on their business plan through significant strategic collaborations with marquee partners across the world,” said Hans Thomas, Chairman and Chief Executive Officer of 10X. “REE has built extraordinary momentum – including last week’s announcement with JBPCO – but more importantly, REE is prepared to continue to deliver on its commitments as a public company, as its CapEx-light, asset-light strategy positions the Company securely to continue to execute on its long-term strategic objectives and deliver long-term returns to shareholders.” Long-term strategic investors including Koch Strategic Platforms and Magna International participated in the business combination PIPE investment. As previously announced, REE’s Co-Founder and Chief Executive Officer, Daniel Barel, will continue to lead the company. Morgan Stanley & Co. LLC served as lead placement agent on the PIPE offering. Cowen served as financial advisor to REE and as a placement agent on the PIPE offering. Wells Fargo Securities served as financial advisor, and Cohen & Company Capital Markets (a division of JVB Financial LLC) served as capital markets advisor to 10X. Cantor Fitzgerald, BTIG, DA Davidson and MKM Partners served as capital markets advisors to REE. White & Case LLP, Zemah Schneider & Partners, and Goldfarb Seligman & Co. served as legal advisors to REE, and Morgan, Lewis & Bockius LLP and Gornitzky & Co. served as legal advisors to 10X. Latham & Watkins LLP served as legal advisor to the placement agents.
Speedway Motors Launches Cover Car Contest to Celebrate Customers and their Cars
Speedway Motors announced today they will celebrate customers and their cars during Customer Appreciation Week, July 26-30, with giveaways and a contest to be on the cover of their Race, Street or Muscle catalog. “Customer Appreciation Week is our way of recognizing all of the hours, blood, sweat and tears our customers are putting into their projects,” said Clay Smith president and owner of Speedway Motors. “We’re truly partners in your project and want to celebrate what you’ve accomplished giving three lucky customers the opportunity to have their car professionally photographed and featured on our catalog cover.” The grand prize will be awarded to three winners of the contest and includes one image on the cover of a Speedway Motors catalog, one editorial feature spread within the Speedway Motors catalog, one blog post on Speedway Motors’ website, and a professional photoshoot of the vehicle, at an approximate value of $5,000. 100 ancillary prizes will also be awarded which will consist of a hat, shop rag, mug, can cooler, wrench set and a $25 Speedway Motors gift card at an approximate value of $100. Every order placed July 26-30 will receive a free sticker sheet while supplies last. To enter the Cover Car Contest, which runs from July 26-August 6, visit SpeedwayMotors.com/Contest and share the story behind your car along with up to three photos (an image is required to win). No purchase is necessary, but you must be 19 years of age or older to enter. Only one entry per person, but you may submit multiple vehicles in a single entry. You can find some examples of vehicles built with Speedway Motors including Bobby’s Model T, Zach’s Model A Pickup, and Jennifer’s ’60 Cadillac on the contest website or listen to customers share their story in Speedway Motors latest Podcast Episode. Follow Speedway Motors on Facebook and Instagram and share your vehicle using #builtwithspeedwaymotors to join the community and be part of the conversation. To enter the Cover Car Contest or for official rules visit SpeedwayMotors.com/Contest
Foresight Received Notice of U.S. Patent Allowance for All Weather and Lighting Conditions Vision System
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced today that it has received a notice of allowance from the U.S. Patent and Trademark Office for its patent application, number 16/960,452, for the Company’s “multi-spectral vehicular system for providing pre-collision alerts”. The patented technology involves a multi-spectral automotive vision system comprised of a pair of stereoscopic infrared sensors and a pair of stereoscopic visible-light sensors. The system includes a data fusion module that fuses received data from both infrared and visible-light channels to enable accurate obstacle detection and distance estimation. The fusion between the two stereoscopic channels also addresses corner-case scenarios, especially in harsh weather and lighting conditions, while reducing false alerts. The system’s automatic calibration module is designed to ensure that stereo cameras remain calibrated regardless of their configuration or position, in order to create accurate and continuous depth perception. Sensor fusion enables accurate obstacle detection in challenging weather and lighting conditions This patent serves as the underlying technology of the QuadSight® automotive vision system, one of the Company’s flagship products. Foresight’s four-camera vision system offers exceptional obstacle detection capabilities for semi-autonomous and autonomous vehicles. Through sensor fusion, QuadSight leverages reflected light from visible-light cameras with thermal energy captured by long-wave infrared cameras for robust, accurate object detection of any shape, form or material, in all weather and lighting conditions - including complete darkness, rain, haze, fog and glare. - Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Foresight is using forward-looking statements in this press release when it discusses the uses and benefits of its vision technology. Because such statements deal with future events and are based on Foresight’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Foresight could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Foresight's annual report on Form 20-F filed with the Securities and Exchange Commission ("SEC") on March 30, 2021, and in any subsequent filings with the SEC. Except as otherwise required by law, Foresight undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Foresight is not responsible for the contents of third party websites.
Financial Report April - June 2021: Veoneer
STOCKHOLM, July 23, 2021 /PRNewswire/ -- Financial Summary - Q2'21 Sequential improvement in operating loss and cash flow despite lower than expected LVP and continued supply chain challenges Net Sales $398 million, Net sales increase 116%, Organic Sales1 108% Active Safety Net Sales increase 149%, Organic Sales increase 140% Operating cash flow $(69) million. Cash balance $556 million Outlook - FY'21 Organic Sales1 growth YoY is expected to exceed 25% Active Safety Organic Sales1 growth YoY is expected to be in the range of 40-45% Currency translation impact is expected to be ~4% Operating loss is expected to improve in 2021 from 2020, Cash balance is expected to exceed $400 million at 2021 year-end Order intake in 2021 is expected to increase from 2020 Business Highlights Enters into a definitive merger agreement under which Magna International Inc. will acquire Veoneer Organic Sales growth outperformed the global LVP by ~58pp for Q2'21, expect out-performance of mid-teens for full year 2021 Semiconductor supply shortages continue to create industry delivery and cost challenges Significant regional mix improvement in LVP in Q2 from Q1, mainly in North America, Europe and Japan Veoneer's ADAS and AD software unit Arriver performed first in vehicle demonstrations to customers with positive feedback Agreement Baraja to industrialize their LiDAR technology for the next wave of L2+ toL4 autonomous vehicle applications. China Active Safety momentum continues with new contract awards and launches during the quarter Order intake over the Last Twelve Months (LTM) was more than $530 million of average annual sales at the end of Q2'21 Comments from Jan Carlson, Chairman, President and CEO On July 22 Veoneer entered into a definitive merger agreement under which Magna will acquire the Company. We believe this is a compelling transaction for our shareholders and all of our stakeholders. It will deliver significant and immediate value to Veoneer stockholders and reflects an attractive premium to our trading price and provides new opportunities for our employees to join one of the most capable suppliers in the mobility space. The plan is to finalize the agreement in the coming months and we will provide timely updates as the process progresses. For the quarter, I was pleased with Veoneer's performance during a challenging period. Despite the uncertainty created by supply disruptions, the COVID-19 pandemic and sequentially lower light vehicle production leading to lower sales, Veoneer improved its gross profit and operating loss as well as its cash flow. These improvements were achieved through the progress of our on-going market adjustment initiatives, and we expect continuous progress throughout 2021 as sales increases and the results of the efficiency programs are expected to keep our costs at near planned levels. Planned launches are on track, although the positive volume effects are somewhat held back by the short-term fluctuations in OEM demand. During the quarter we had five key launches, four out of which were Active Safety launches that will start to contribute to our expected strong organic sales growth in the quarters and years to come. The launch of the Geely EMA was especially significant for Veoneer as we are a full system and integration supplier to the vehicle. This is a flagship program for our Company, highlighting the strength of our vision, radar, ECU and software capabilities. It further highlights the current momentum we have in China where among other customer wins we signed yet another new customer for our vision technology. Our order intake developed better in the quarter than what we expected, due in part to new opportunities that we were able to capture and partly orders expected in the third quarter materializing already in the second quarter. We won orders across most products areas, highlighting the strength of our current product portfolio. With this positive development we are well on track to reach higher order levels in 2021 as compared to 2020. The first Arriver perception and drive policy software running on the Qualcomm Snapdragon Ride platform has now been demonstrated in-vehicle to potential customers with encouraging initial feedback, a true milestone. During the quarter the Volvo XC40 Recharge, which runs the current generation of Arriver software, was picked as "Top Safety Pick+" by the Insurance Institute for Highway Safety in the United States, another proof point that we are on track to create a leading global challenger for Active Safety systems and software. These developments are the result of the strong execution of the entire Veoneer team and I would like to take this opportunity to thank all of Veoneer's associates for their focus and persistence in these volatile times. An earnings conference call will be held today, Friday, July 23, 2021 at 14:00 CET. To follow the webcast or to obtain the phone number/pin code, please see www.veoneer.com. The slide deck will be available on our website prior to the earnings conference call. 1For all Non-U.S. GAAP financial measures, see the reconciliation tables in this earnings release, including the Non-U.S. GAAP Financial Measures section for further discussion of the forward-looking Non-U.S. GAAP financial measures on page 11. Contacts:Thomas Jönsson - EVP Communications & IR, +46 8 527 762 27 or email@example.com 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 06:00 CET on Friday, July 23, 2021. This information was brought to you by Cision http://news.cision.comhttps://news.cision.com/veoneer/r/financial-report-april---june-2021,c3388594 The following files are available for download: https://mb.cision.com/Main/17380/3388594/1447738.pdf Q2 2021 Earnings Release_en_FINAL
Hyundai Motor Group Honorary Chairman Mong-Koo Chung Inducted Into Automotive Hall of Fame at Official Ceremony
Honorary Chairman Chung becomes the first Korean to receive the accolade, industry's top honor Chung recognized for being driving force behind the Group's success, and a steadfast champion of the auto industry and the Korean economy Dedication to vehicle quality, global expansion of R&D and manufacturing network have been key to Chung's approach Hyundai Motor Group continues to pursue progress for humanity DETROIT and SEOUL, South Korea, July 23, 2021 /PRNewswire/ -- Hyundai Motor Group Honorary Chairman, Mong-Koo Chung, has been officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony. The industry's top honor was presented to the class of 2020 at a celebration held at the ICON Convention Center in Detroit on July 22. Hyundai Motor Group Honorary Chairman, Mong-Koo Chung, has been officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony. The induction ceremony was attended by Hyundai Motor Group Chairman Euisun Chung, who participated in Honorary Chairman Mong-Koo Chung’s place. Hyundai Motor Group Honorary Chairman, Mong-Koo Chung, has been officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony. The induction ceremony was attended by Hyundai Motor Group Chairman Euisun Chung, who participated in Honorary Chairman Mong-Koo Chung’s place. (From left to right) Euisun Chung, Chairman of Hyundai Motor Group and Ramzi Hermiz, Chairman of the Board, Automotive Hall of Fame. Hyundai Motor Group Honorary Chairman, Mong-Koo Chung, has been officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony. The induction ceremony was attended by Hyundai Motor Group Chairman Euisun Chung, who participated in Honorary Chairman Mong-Koo Chung’s place. (From left to right) Ramzi Hermiz, Chairman of the Board, Automotive Hall of Fame and Euisun Chung, Chairman of Hyundai Motor Group. The induction ceremony was attended by Hyundai Motor Group Chairman Euisun Chung, who participated in Honorary Chairman Mong-Koo Chung's place. Chairman Chung received the induction trophy and made a speech on behalf of his father. "Honorary Chairman Chung grew Hyundai Motor group into the world's fifth largest automaker from its humble beginning. If my father were here, he would say he owes this honor to our employees, dealers and fantastic customers," said Euisun Chung. "My father continued the legacy of my grandfather Ju-yung Chung, who founded Hyundai. He expanded the Group's presence globally and continued to pursue excellence in quality. He made the Group something that employees and customers can all be proud of." Chairman Chung also did not forget to mention his vision for the future. "As Hyundai embraces the challenges and the opportunities of the 21st century, we will continue to strive for excellence, challenge convention and lead the evolution of smart mobility. We will realize progress for humanity," said the Chairman. The Automotive Hall of Fame also took note of Chung's many accomplishments, including: Acquiring Kia Motors Corporation into Hyundai Motor Group Spearheading the Group's growth with new plants in key regions, including United States, Europe, China, India, Brazil and Russia Creating a highly efficient, vertically integrated business structure that produces everything from steel to vehicles The Automotive Hall of Fame was established in 1939 to honor notable business leaders who have contributed significantly to the advancement of the automotive industry and mobility. Chung becomes the first Korean to receive this honor, which was first announced in February 2020. For more information about Hyundai Motor Group, please see: www.hyundaimotorgroup.com Related Links :http://www.hyundaimotorgroup.com
Airbiquity Partners with Cyngn to Help Material Handling Companies Evolve Vehicle Fleets into Autonomous Systems
Technology Partnership Enables Companies to Tap into Gains from Self-Driving Technology without Replacing Entire Vehicle Fleets SEATTLE, July 22, 2021 /PRNewswire/ -- Airbiquity®, a global leader of connected vehicle services, today announced its partnership with Cyngn, an autonomous vehicle (AV) technology provider. Cyngn's flagship product, DriveMod, is an end-to-end autonomy solution that can be flexibly deployed on multiple vehicle types in various environments. By integrating Airbiquity's OTAmatic® over-the-air software management platform and the Cyngn DriveMod autonomous driving system, organizations can invest in industrial AV technology that starts generating value today while being prepared to tackle the challenges of tomorrow. According to Global Market Insights Inc., the material handling equipment market is estimated to reach US $200 billion by 2027. Airbiquity has partnered with Cyngn to help material handling companies evolve vehicle fleets into autonomous systems. Industrial AV solutions often require companies to replace their entire existing vehicle fleet. The Airbiquity and Cyngn partnership shifts that paradigm. The technology stack that results from this partnership will enable companies operating in the materials handling market to securely evolve their vehicle fleets into AV systems that can be updated and refined over time, leading to increased autonomous fleet management efficiency and up-time. "On the heels of announcing our OTAmatic expansion into non-automotive industry vehicles, this partnership is further validation of the need for safe and secure industrial grade over-the-air software update management technology to ensure that autonomous vehicles are running most efficiently," said Kamyar Moinzadeh, President and CEO of Airbiquity. "Working with Cyngn, we have the opportunity to help guide the future of autonomous vehicles and make our technology accessible to more industries." OTAmatic is an over-the-air (OTA) software and data management solution that securely orchestrates and automates connected vehicle software updates and data management from the cloud. Businesses use OTAmatic to efficiently plan and execute OTA campaigns with refined vehicle and device targeting, discrete policy and privacy controls, customizable user communications, and solution deployment flexibility. "Autonomous vehicle fleets generate vast amounts of data, which we leverage to derive greater insights and create opportunities for increased efficiency," said Cyngn's CEO Lior Tal. "By using Airbiquity's most advanced and industry-proven over-the-air update technology, companies gain access to these ever-expanding capabilities without disrupting their daily operations." DriveMod is Cyngn's full-stack autonomous vehicle solution, delivering intelligent analytics, artificial intelligence, advanced safety features, and self-driving capabilities for industrial vehicles. The technology is vehicle agnostic, which means DriveMod works across all kinds of industrial vehicles, regardless of age, vehicle type, or manufacturer. DriveMod enables fleets of all shapes and sizes to drive autonomously via a simple retrofit or by being embedded directly into original equipment manufacturer (OEM) vehicles at assembly. Over time and with more data, DriveMod will develop a deeper understanding of the domains in which it operates. This information, combined with OTAmatic's over-the-air software updates, will ensure autonomous vehicle fleets continue to generate novel value and efficiencies. To learn more about Airbiquity OTAmatic, click here.To see Cyngn DriveMod in action, check out this video.Related Links :http://www.airbiquity.com
Hyundai Mobis develops the world's first 'brainwaves' based ADAS technology
- The new technology, 'M. Brain' identifies the driver's state through brainwaves and reduces accidents caused by drowsy driving or negligence.- Will test-apply public bus transportation services in Gyeonggi-do, and expand the application scope of biotechnology to smart cities and purpose-built vehicle (PBV) later SEOUL, South Korea, July 21, 2021 /PRNewswire/ -- After 3 years of R&D, Hyundai Mobis (KRX: 012330) finally succeeded in developing M.Brain, a new healthcare technology based on brainwave measurement. This achievement is receiving great attention for applying this brainwave measurement technology to the automotive industry for the first time. Among other biosignals, brainwave measurement is known to be one of the most advanced and challenged technologies to work with. M.Brain measures the driver's condition on a real-time basis by detecting the brainwaves around the ears through earpiece sensors that are worn. The key is the software technology that analyzes and determines the data from the brainwaves. Hyundai Mobis is committed to R&D and has even adopted machine learning to interpret the brainwave signals. M.Brain can also be interworked with a smartphone app and provide notification that the driver is losing attention. The accident prevention technology also provides alerts for different sensory organs, such as sight (LEDs around the driver's seat), touch (vibrating seat), hearing (headrest speaker), etc. Hyundai Mobis plans to apply various bio-healthcare technologies to public transportation with a view to contributing to public safety. M. Brain will test- apply in Gyeonggi-do's public buses first. The global in-vehicle healthcare market has now taken its first step. Heartbeat measurements or eye tracking technologies are introduced. Meanwhile, brainwave-based technology shows infinite potential for development as it is capable of measuring massive amounts of data, which is why Hyundai Mobis' M.Brain is considered an innovative technology. Hyundai Mobis is showing progress in developing autonomous driving healthcare technology using biosignals. At the CES in 2018, the company presented DDREM (Departed Driver Rescue & Exit Maneuver), which works to prevent accidents that occur as a result of drowsy driving. Hyundai Mobis then succeeded in developing the eye tracking DSW (Driver State Warning) system in 2019, and ROA (Rear Occupant Alert) system to detect infants in the backseat using radar last year. Hyundai Mobis introduces the world first brainwaves based ADAS system, M.Brain. 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, firstname.lastname@example.org Choon Kee Hwang, email@example.com
GKN Automotive accelerating advanced development of next-generation 800V eDrive technologies
GKN Automotive, the global leader in drive systems, is accelerating its development of next generation eDrive technologies in response to the rapidly increasing global demand for electrified vehicles. These future systems, utilising and harnessing state-of-the-art 800V technologies, are already at advanced stages of development and being tested in real-world conditions. GKN Automotive’s global experts are now working with the world’s leading automotive manufacturers to make these advanced eDrive systems a production reality. Future eDrive technologies, using 800V technology, promise many benefits for EV owners including faster charging times and superior performance. The greater systems efficiencies they bring will also lead to an increased driving range – currently a key obstacle for consumers wanting to make the switch to a battery electric car. Efficiencies could also lead to car makers opting to use smaller batteries, reducing vehicle cost, complexity, and weight. Liam Butterworth, CEO GKN Automotive “Global demand for EVs is accelerating fast and now is the perfect time for GKN Automotive to underpin its leadership in eDrive systems through next-generation technologies. “These high-tech 800V systems will create faster charging cars with better battery range, improved driving performance and even greater efficiencies. GKN Automotive intends to continue delivering an increasingly electrified future” GKN Automotive’s rapid development of next generation eDrive systems is being enhanced through working in Formula E as a partner to Jaguar Racing. Constant testing to improve efficiency, performance and extending the range of batteries in the ultra-competitive world of electric motorsport creates a direct link from race to road. Cutting-edge developments currently being developed for Jaguar Racing will likely be available on near-future road cars in just three years.
Foresight: Eye-Net Launches Pilot Project With Multinational Japanese Company
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced today that its wholly owned subsidiary, Eye-Net Mobile Ltd., initiated a pilot project with the IT subsidiary of a multi-billion dollar multinational Japanese company to test its Eye-Net™ Protect cellular-based vehicle-to-everything (V2X) accident prevention solution. The pilot project will evaluate Eye-Net’s solution for possible integration as an application layer into the car-to-everything (C2X) platform of the Japanese company to create potentially safer driving environments. This additional pilot project expands Eye-Net’s activity in the automotive-related market, potentially enabling the Japanese company to extend its communication capabilities to include more vulnerable road users such as pedestrians and cyclists, in addition to drivers. “Eye-Net continues its efforts and activities to establish its position in the automotive market, offering a software-based accident prevention solution that can be used either as a standalone product or as an application layer on top of existing platforms. We believe that starting a fourth pilot project in Japan indicates a vote of confidence from the Japanese market and demonstrates a real need for a readily available solution that provides real-time pre-collision alerts and has the potential to save lives. We believe that the current pilot project will open up new collaboration opportunities for Eye-Net in the cellular-V2X market,” said Dror Elbaz, COO & Deputy CEO of Eye-Net Mobile. For more information about Eye-Net Mobile, please visit www.eyenet-mobile.com, or follow the Company’s LinkedIn page, Eye-Net Mobile; Twitter, @EyeNetMobile1; and Instagram channel, Eyenetmobile1, the contents of which are not incorporated into this press release.
New York City-inspired Hyper GT Showcases the Bespoke Process Behind Every Battista
- Automobili Pininfarina reveals every Battista hyper GT will be unique and individually tailored through its specially developed bespoke personalisation programme - First bespoke commission is inspired by New York City and features industry-first exposed signature carbon bodywork as part of its red, white and blue theme - Clients will be invited to the refurbished Cambiano facility to create their perfect vehicle in a new purpose-built Atelier space alongside the Battista production line, opening later this year - Bespoke enhancements range from unique exterior paint colours and combinations to interior finishes and engravings, allowing clients to tailor every element of the luxurious Battista - Pioneering programme gives clients direct access to Battista designers, ensuring no two models will be the same, enhancing its status as a collector's item – like Pininfarina models of the past TURIN, Italy, July 21, 2021 /PRNewswire/ -- Every Battista will be a truly unique interpretation of the luxurious hyper GT thanks to Automobili Pininfarina's all-encompassing bespoke personalisation programme – and the design of the first vehicle to emerge from the service has been revealed. NYC-Inspired Bespoke Battista Hyper GT 1 Automobili Pininfarina has an unrivalled legacy of creating exclusive vehicles and its bespoke programme will ensure every example is one-of-a-kind, with each client's personality woven into the very fabric of the car. The first bespoke commission is inspired by New York City and features a sophisticated red, white and blue colour theme, led by Exposed Signature Carbon body work with world-first Iconica Blu thread, delivering a dramatic visual from every angle. All Battista clients are invited on a journey with the design team to create their perfect pure-electric hyper GT, as part of an in-depth collaborative process. A new Atelier space at the Cambiano production facility will provide the perfect environment to inspire the creative process when it opens later this year, housing an extensive range of colour and material samples close to the assembly area, where Automobili Pininfarina's skilled technicians will turn clients' dreams into reality. Sara Campagnolo, Head of Colour and Materials Design of Automobili Pininfarina, said: "The Pininfarina name has a storied heritage of individual cars, and the Battista continues this legacy as every vehicle will be truly bespoke by design. Our clients have the unique opportunity to join the Automobili Pininfarina family, immersing themselves in the design process with our talented craftspeople to ensure their vehicle authentically reflects their personality and tastes, created with a truly personal touch. Clients have the opportunity to drive forward the development of sustainable luxury, whilst creating a unique collector's piece." Every element of the vehicle receives bespoke treatment, with clients offered a 360-degree consulting service resulting in a truly unique creation. Automobili Pininfarina's bespoke programme makes exquisite detailing a reality, with the New York-inspired commission debuting Exposed Signature Carbon with Iconica Blu thread – the first application of its kind in the automotive industry. The commission also includes Performance Stripes and Pinstripe finished in distinctive Bianco Sestriere metallic – meticulously applied by hand due to the complex shapes of the body panels – with a red Exterior Jewellery Pack elegantly completing the exterior design with a Furiosa Carbon Accent Pack finished in Black Exposed Signature Carbon. Mixing advanced composite materials with traditional coachbuilding techniques, the hand-painted finish for this one-off model will take hundreds of hours of expert attention. For the first bespoke commission, the Impulso wheels are finished in Dark Matt Grey with brushed aluminium centre-lock ring anodized in black, matching the black Goccia roof, rear diffuser, rear wing and brushed aluminium headlight engraving. The luxurious interior provides further scope for personalisation, with everything from the choice of leather and Alcantara to the contrast stitching, Interior Jewellery Pack and fine aluminium interior detailing. A total of 128 million combinations provides opportunities for clients to reflect their individual tastes, with all clients benefitting from Automobili Pininfarina's commitment to sustainable luxury. This is evident in the methods used to craft the exquisite materials, such as leather interior elements tanned with olive leaves, a process that reduces the need for harmful chemicals in the creation of every Battista. The first bespoke commission features Pilota seats finished in black leather upholstery with Iconica Blu Alcantara with navy colour inserts elegantly showcasing the Battista's interior design and luxurious materials. The exterior theme is carried through to the interior with Iconica Blu stitching with unique red and white cross stitch, red headrest logo and unique white seatbelts, with Iconica Blu thread on the back of the carbon seats. Brushed aluminium detailing is finished in red, subtly referencing the red Exterior Jewellery Pack, with darker details provided by the Interior Jewellery Pack finished in brushed aluminium anodized in black. In addition to the selection of 56 exterior paint finishes, Battista owners also have the opportunity to choose exposed carbon fibre bodywork, bespoke paint finishes for the 'Goccia' roof, exterior jewellery in the form of anodised finishes or bespoke paint, or a contrasting front end in the clients' choice of colour. The Carbon Accent Pack and Furiosa Carbon Accent Pack are available with a selection of bespoke paint colours or exposed carbon fibre finishes, complemented by the precise Furiosa pinstripe around the extremities of the bodywork. In addition, the mirror caps, rear wing, brake calipers, alloy wheels – both Prezioso and Impulso designs – and centre-lock rings can all be fully customised. Even the engravings on the Battista chassis plate, located between the seats, can be personalised, along with a custom passenger-side door plate engraving. The uniqueness and exclusivity offered by the bespoke programme will enhance Battista's investment status, adding to Pininfarina's rich history in crafting motoring masterpieces. The Cambiano production headquarters will house a new Atelier where clients will be invited to immerse themselves in the creation of their one-of-a-kind vehicle with the car's designers. The new suite will be located alongside the production line, where skilled technicians will assemble the Battista – under the same roof as the historic and priceless Pininfarina models spanning 91 years of production. With a carefully curated selection of historic and classic vehicles on display in the neighbouring museum, the new Atelier in Cambiano will serve as a rich hub of exquisite collectible vehicles to inspire the next generation of pure-electric automotive creations. For more information, visitautomobili-pininfarina.com/media-zone NYC-Inspired Bespoke Battista Hyper GT 2 Battista Bespoke Personalisation Programme Infographic Automobili Pininfarina Bespoke 1 Automobili Pininfarina Bespoke 2 Automobili Pininfarina Bespoke 3
Mando shareholders approve plan to split-off autonomous driving (ADAS) business
"The split-off allows Mando to sharpen its business-specific expertise and optimize operation for each of its chassis and autonomous business, while maintaining its strategic position as an Active Safety Solution Provider" SEOUL, South Korea, July 20, 2021 /PRNewswire/ -- Today, July 20th, Mando shareholders approved plan to split-off its autonomous driving and part of *Mobility business as a wholly owned subsidiary. The special resolution, which was approved with 85.0% approval rate of the total number of stocks attended (66.9%), was passed with much support from majority of its shareholders who voted in favor of the resolution as per the recommendations from major domestic and global investor advisory organizations. The NewCo., 'MMS (Mando Mobility Solutions, tentative name)', will be launched on September 1. Cho Seong-Hyeon, Mando's president & representative director, stated that "Mando is now equipped with new driving engine through this split," and that "we will make every effort to bring positive value to our shareholders and to the society by accelerating advancement of autonomous driving technology". MMS, the NewCo., which will be responsible arm for Mando's autonomous driving business, is planning to secure talents and advanced technology and at the same time actively implement global marketing efforts through overseas investments in North America, China, and India. Mando, the RemainCo., will grow as the clean technology provider focused on EV solutions through leveraging ample order backlog, strong e-chassis portfolio, sound financial structure, and extensive business experiences. Through this approval, Mando is now set to sharpen its business expertise in both 'Autonomous Driving (ADAS)' and 'EV Solutions (Electrification of its traditional chassis business)'. Not only can Mando now optimize its investment and operation for each business, but also, by splitting the autonomous business as a wholly owned subsidiary structure, it is able to maintain its leadership as an 'Active Safety Solution Provider'. * Mobility business: Unmanned patrol robot, unmanned electric vehicle charger, on-line platform (Cloud server), etc.
Davinci Introduces the DC100 high-performance, long range, rapid-charging electric motorcycle
BEIJING, July 20, 2021 /PRNewswire/ -- Davinci Dynamics announced two new electric motorcycles - the DC100 and the exclusive DC Classic on July 17. As the result of seven years of development, the launch of these two models marks a new level of performance for electric motorcycles. Designed for performance, DC100 and DC Classic are among the first production of electric motorcycles to rival the performance of their 1000cc gas-powered counterparts. DC100 & DC Classic The DC100 is designed to deliver the perfect balance of acceleration, maximum speed and battery range. It can be charged using widely accessible and convenient level 3 DC fast-charging stations with a full charge taking only around 30 minutes. This high-rate charge is enabled by the motorcycle's high energy density ternary lithium battery pack (17.7kWh). Thanks to its intelligent robotic control system, the DC100 delivers an optimized riding experience that gives riders precise control over the 137 horse power that is delivered via the electric motor mounted directly on the back wheel. At the same time, the motorcycle's advanced features, including traction control, CBS, and ABS contribute to safer rides. It is also equipped with practical rider aids such as driver assist, hill assist, downhill assist, and reverse assist, all designed to make riding easier and more fun. The Davinci App is the perfect accompaniment to motorcycling in a digital age. It acts as both key and dashboard - an all-in-one monitor that controls the motorcycle and empowers your ride. When connected to the vehicle's control system, it shows real-time speed, battery, and tire status in addition to map and navigation functions. The app can also geo-locate the vehicle and supports system upgrades through FOTA. Robotic intelligence from the inside out As a two-wheeled robot, DC100 is capable of sensing, calculating and executing. From the vehicle's mechanical status to real-time riding feedback, DC100 is designed to offer impeccable performance in complete harmony with its rider. Future features that will leverage the DC100's robotic intelligence include self-balancing, auto follow, and smartphone remote control. DC Series now available to pre-order The MSRP for the DC100 is $27,500 and €26,000 in the United States and Europe respectively. Customers can reserve their motorcycles with a deposit of $150/ €150 on Davince Tech website or App. Shipping from July 2022. The upgraded DC Classic model will have a limited worldwide release of only 50 units. This hand-assembled masterpiece is characterized by its striking minimalist aesthetics, and each motorcycle carries a unique collection ID. The DC Classic features Öhlins front suspension customized with Dyneema carbon fiber sleeves, Brembo GP4 brake calipers, RCS Series Brake Master Cylinders, French calfskin seats and many CNC customized parts, all meticulously hand-assembled to enrich and enhance your ride. The MSRP for DC Classic is $90,000/ €78,000. Shipping from April 2022. For more information: Website: www.davincimotor.com Facebook: DavinciMotorcycleInstagram: DavinciMotorcycleDownload the App: Davinci Related Links :http://www.davincimotor.com
Airbiquity Expands Into Additional Markets that Require Industrial Grade Over-the-Air (OTA) Software and Data Management Services
Airbiquity to provide higher degrees of OTA management, security, and technical integration for multiple non-automotive vehicle-based markets SEATTLE, July 20, 2021 /PRNewswire/ -- Airbiquity®, a global leader of connected vehicle services, today announced its expansion into selected non-automotive vehicle-based markets to generate new revenue streams. As businesses increasingly integrate software into their products and leverage data for new services, over-the-air (OTA) software and data management solutions are critical for original equipment manufacturers (OEMs) to keep products up-to-date and optimize performance. As a pioneer in automotive telematics software and cloud-based connected vehicle service delivery, Airbiquity is uniquely positioned to apply its OTAmatic® software technology and technical integration expertise to other markets that require sophisticated OTA capabilities. OTAmatic, Airbiquity's OTA software and data management platform, was initially developed for the automotive market. But the core OTAmatic platform can also be adapted for use in many other vehicle-based markets—specifically, those that require industrial grade OTA with higher degrees of security and technical integration. Airbiquity is specifically targeting the following markets for its business expansion effort: Personal Transportation Vehicles: Scooters, Motorcycles, ATVs Materials Handling Vehicles: Warehouse Automation Off-Highway Vehicles: Construction, Agriculture, Mining, Forestry Other High-Value Devices: Complex Electronic Devices and Systems, Including Autonomous Robotics "The benefits of automotive OTA are clear: Increased product quality, performance, and operational efficiency. We aim to help non-automotive OEMs efficiently tap into this technology and realize the same benefits by making additional enhancements to our core OTAmatic platform," said Kamyar Moinzadeh, President and CEO of Airbiquity. "We work with the top automotive OEMs in the world and have always been on the forefront of telematics innovation. This is the perfect time to embrace our innovation roots, leverage our technology and integration expertise, and branch out into new markets with the OTAmatic software and data management platform." To learn more about Airbiquity and OTAmatic, visit www.airbiquity.com. About AirbiquityAirbiquity® is a global leader in connected vehicle services and pioneer in the development and engineering of automotive telematics technology. At the forefront of automotive innovation, Airbiquity develops the industry's most advanced cloud-based connected vehicle software technology and supports all leading use cases including over-the-air (OTA) software update and data management with OTAmatic®. Working with Airbiquity, automakers and automotive suppliers have deployed highly scalable, manageable, and secure connected vehicle service programs for millions of vehicles meeting the needs of their customers in over 60 countries around the world. Learn more about Airbiquity at www.airbiquity.com or join the conversation @Airbiquity. CONTACT: Jen Roane, firstname.lastname@example.org Related Links :http://www.airbiquity.com
Dynamic Solutions HK Limited Set to Trial Wireless Electric Car Charging
HONG KONG, July 20, 2021 /PRNewswire/ -- Technology start-up Dynamic Solutions HK Limited has revealed it will begin trialling wireless charging devices that will charge electronic vehicles as they are parked. The innovative induction pads will be installed at the firms' test center, with in-depth trials expected to start early next month. David Zhongyi, who heads up the Investor Relations department at Dynamic Solutions HK Limited, said, "Our wireless electric vehicle charging pads will eliminate the need for large, unsightly charging points which are beginning to clutter our cities. The pads will be built into the ground, and they will pump out alternating ultrasonic waves that convert into electricity when the car is parked above." Once the trials begin, Dynamic Solution HK Limited engineers will test the technology in various situations for speed, accuracy, and robustness through differing weather conditions. They will also test how easily the technology can be built into older electronic vehicles. "Electric Vehicle manufacturers are now incorporating induction charging technology with their new models; however, there is only a small number of induction-enabled electric vehicle charge points installed throughout Hong Kong at the moment. We are aiming to help change that here and throughout Asia," David Zhongyi continued. Establishing more charging outlets has become a major requirement in recent years as the climate emergency continues to pressure local authorities. Despite this, the current infrastructure has been unable to meet the high demand for electric cars. The limited supply of curbside charging stations for electric vehicles is causing rising concern. Residents say that the ones that have been installed are cluttering the streets and footpaths. They are also subject to vandalism and damage. All of these are issues that Dynamic Solutions HK Limited's underground wireless charging pads do not have. AboutSince Dynamic Solutions HK Limited was created in 2012, the company has been investing in research and development that is paving the way for future technology and how we charge electronics. Our technology has been developed to use ultrasonic waves to charge electronic devices. Media ContactDynamic Solutions HK LimitedMr. David Zhongyi, +852 2319 4422Investor Relations Email: email@example.comWebsite: www.wirelessdynamic.com