Tag: Automotive

Capture investment opportunities created by megatrends

Volkswagen says a vendor’s security lapse exposed 3.3 million drivers’ details

Volkswagen says more than 3.3 million customers had their information exposed after one of its vendors left a cache of customer data unsecured on the internet. The car maker said in a letter that the vendor, used by Volkswagen, its subsidiary Audi, and authorized dealers in the U.S. and Canada, left the customer data spanning…
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11 June 2021 0

Apple confirms hiring of Ulrich Kranz, former CEO of EV company Canoo

As former senior executive of BMW AG’s electric car division, Kranz oversaw the development of the sporty electric i3 and i8 cars at BMW, which might give us a hint into the potential aesthetic of the future Apple Car. Anonymous sources say he’ll report to Doug Field, who runs the Apple Car project and previously…
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10 June 2021 0

Chinese lidar maker Hesai lands $300M led by Hillhouse, Xiaomi, Meituan

The rush to back lidar companies continues as more automakers and robotaxi startups include the remote sensing method in their vehicles. Latest to the investment boom is Hesai, a Shanghai-based lidar maker founded in 2014 with an office in Palo Alto. The company just raised over $300 million in a Series D funding round led…
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8 June 2021 0

Cruise can now give passengers rides in driverless cars in California

Cruise, the autonomous vehicle subsidiary of GM that also has backing from SoftBank Vision Fund, Microsoft and Honda, has secured a permit that will allow the company to shuttle passengers in its test vehicles without a human safety operator behind the wheel. The permit, issued by the California Public Utilities Commission as part of its…
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4 June 2021 0

ChargerHelp co-founder, CEO Kameale C. Terry is heading to TC Sessions: Mobility 2021

Thousands of electric vehicle charging stations will be built around the country over the next decade. ChargerHelp!, founded in January 2020 by Kameale C. Terry and Evette Ellis, wants to make sure they stay up and running. The idea for the on-demand repair app for EV charging stations came to Terry when she was working…
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31 May 2021 0

The Station: Rivian rolls towards an IPO and Quantumscape makes a big battery hire

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox. Hello and welcome back to The Station, a weekly newsletter dedicated to all the ways people and packages move (today and in the future) from Point A to…
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31 May 2021 0

GM, Palantir-backed Wejo to go public via SPAC

Wejo, the connected vehicle data startup backed by GM and Palantir, plans to go public through a merger with special purpose acquisition company Virtuoso Acquisition Corp. The agreement, announced in a regulator filing Friday, will give the combined company an enterprise valuation of $800 million, which includes debt. The deal raises $330 million in proceeds…
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28 May 2021 0

Goldman Sachs leads $45M investment into auto fintech startup MotoRefi

MotoRefi has raised another $45 million in a round led by Goldman Sachs just five months after investors poured $10 million into the fintech startup to help turbocharge its auto refinancing business. The startup developed an auto refinancing platform that handles the entire loan process, including finding the best rates, paying off the old lender…
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28 May 2021 0

Ford’s $30B investment in electric revs up in-house battery R&D

Ford is increasing its investment in its electric vehicle future to $30 billion by 2025, up from a previous spend of $22 billion by 2023. The company announced the fresh cashflow into its EV and battery development strategy, dubbed Ford+, during an investor day on Tuesday.  The company said it expects 40% of its global…
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26 May 2021 0

Emotion-detection software startup Affectiva acquired for $73.5M

Smart Eye, the publicly traded Swedish company that supplies driver monitoring systems for a dozen automakers, has acquired emotion-detection software startup Affectiva for $73.5 million in a cash-and-stock deal. Affectiva, which spun out of the MIT Media Lab in 2009, has developed software that can detect and understand human emotion, which Smart Eye is keen…
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25 May 2021 0