According to a press release on July 14, Motor AI, a company focused on autonomous vehicles, announced a $20 million seed funding round led by Segenia Capital and eCAPITAL, with contributions from German high net worth individuals. The funds will support the company's efforts to achieve type approval for public roads and begin deploying its Level 4 autonomous vehicles, initially on German public roads. Unlike companies that rely heavily on data collection and black-box prediction models, Motor A...

AirGarage is transforming parking into a tech-enabled real estate asset through its end-to-end platform that integrates various aspects such as payments, enforcement, dynamic pricing and operations, all supported by real-time data and machine learning. With a recent $23 million Series B funding, the company aims to expand its reach and enhance its product offerings, showcasing parking as a significant yet underdeveloped area ripe for digital transformation. Founded by Scott Fitsimones, Chelse...

Toyota Motor North America commenced the expansion of its Arizona Proving Grounds with a commitment to invest more than $50 million, the automaker said in a July 2 press release. The project includes constructing a 5.5-mile oval track, an off-road park, new riding and handling surfaces, and plans for an advanced driver assistance technology facility in the future. The planned expansion, scheduled to be mostly completed by the end ...

In a press release on June 24, Torc announced the opening of a new engineering center in Ann Arbor, Michigan. This expansion is a strategic move as Torc aims for commercialization in 2027, with the intention of accelerating its productization initiatives while leveraging the rich automotive and technology talent available in the region. In establishing the Ann Arbor location, Torc collaborated with the Michigan Economic Development Corp. to secure incentives, supporting its significant h...

The world's largest battery manufacturer, CATL, has made a strategic move into the robo-taxi sector by establishing a new joint venture with local partners. The new JV, Shanghai Zaofu Intelligent Technology Co. Ltd., was registered in Shanghai and has a capital of 1.288 billion yuan (about $177.5 million). The newly formed company will focus on developing Level 4 autonomous driving technology. The joint effort includes contributions from Hello, Ant Group and CATL, with initial investments ...

According to a press release on June 17, Applied Intuition has secured a $600 million Series F fundraise and tender offer, bringing its valuation to $15 billion. This funding was coled by BlackRock-managed funds and accounts along with Kleiner Perkins, and aims to support the company's advancements in vehicle intelligence, product expansion and global team growth. New investors include Franklin Templeton, Qatar Investment Authority, Abu Dhabi Investment Council, Premji Invest, Stripes, Grey...

As reported in a press release on June 18, Zoox has launched the first serial production facility for purpose-built robo-taxis in the US, aimed at supporting the company's planned expansion in robo-taxi services across various markets, starting with Las Vegas and San Francisco, and later including Austin and Miami. This new facility, located in Hayward, California, spans 220,000 square feet and is Zoox's second vehicle production site in the Bay Area, while the first, in Fremont, California, foc...

US carmaker General Motors (GM) announced that it plans to invest $4 billion over the next two years to boost its domestic production of gasoline-powered and electric vehicles. This investment aims to increase the company's annual domestic vehicle assembly to over 2 million units. GM's announcement follows an earlier plan to invest $888 million in the Tonawanda propulsion plant near Buffalo, New York, to support the development of its next-generation V-8 engine. The new investments will impac...

Coco Robotics, an autonomous vehicles company specializing in delivery, announced securing $80 million in strategic financing to enhance its AI platform, scale its fleet and grow enterprise partnerships, as reported in a press release on June 11. The funding includes contributions from existing investors Sam and Max Altman, Pelion, Outlander, and SNR, and new participants Offline, DeepWater, and Ryan Graves, the current CEO of Saltwater. This financial boost builds on Coco's momentum, su...

Astemo Group is introducing new mobility solutions to its customers in North America, according to a June 9 press release. The company is also looking to expand its presence at its North American headquarters in Farmington Hills, Michigan, and plans to relocate to a more spacious office. The Japanese supplier changed its name from Hitachi Astemo Ltd. to Astemo Ltd., effective April 1. "As our industry moves into the age of the software-defined vehicle, ...

As reported in a press release on May 26, Abdul Latif Jameel and Uber Technologies announced a memorandum of understanding (MOU) to explore the development of a scalable, next-generation fleet operations platform. The collaboration aligns with the objectives of Saudi Vision 2030, aiming to foster socioeconomic growth and increase earning opportunities for Saudi nationals. The MOU that was signed during the Saudi-US Investment Forum aims to expedite urban mobility transformation in S...

Toyota Motor and its mobility technology subsidiary, Woven by Toyota, have partnered with their group suppliers Aisin, DENSO and Toyota Tsusho to launch the Toyota Software Academy. This initiative aims to strengthen human resource development focused on AI and software. Additionally, Toyota is introducing the Global AI Accelerator (GAIA) to enhance investments in AI research and development, which is expected to drive innovation. Together, these efforts aim to nurture AI ...

In a press release on May 14, Aeva announced a strategic collaboration with the technology-focused affiliate of a Global Fortune 500 company. The partnership aims to integrate Aeva's next-generation 4D Lidar technology into various markets. Additionally, this global technology solution provider will serve as Aeva's tier 2 manufacturing partner for the previously announced top 10 passenger original equipment manufacturer program. As part of their agreement, the global technology leader will in...

Bosch has launched a new fund worth €250 million through its wholly owned subsidiary, Bosch Ventures. This initiative underscores the Germany-based company's unwavering commitment to investing in startups globally, even in the face of current economic uncertainties. Bosch Ventures will use this fund to target investments in high-growth potential startups in automation, electrification, climate tech, healthcare and software technologies. "Our funding in startups not only foste...

In a press release on April 30, Benteler Group announced that HOLON is advancing with the series production and market launch of its fully electric autonomous shuttle, the HOLON urban. In 2025, the HOLON urban will undergo testing on the streets of Hamburg, Germany, as part of its inaugural pilot project. Hamburg aims to introduce up to 10,000 autonomous shuttles by 2030, providing a new mobility solution that complements the existing public transport system. This initiative is part of an agr...

Changan Automobile, a leading Chinese vehicle manufacturer, has chalked out three key strategies as part of its mid-to-long term roadmap, the company announced April 27 at the ongoing Auto Shanghai 2025. Changan said its three key strategies include Shangri-La Mission, Dubhe Plan and its Vast Ocean Plan, covering the expansion of its new-energy vehicle (NEV) portfolio, global footprint, and new investment in intelligent driving technologies and innovations. Under its Shangri-La Mission, Ch...

Nuro, an autonomous driving technology startup, announced a valuation of $6 billion after securing $106 million in its most recent funding round, supported by T Rowe Price Associates, Fidelity Management and Research, Tiger Global, Greylock Partners, and XN, in a report published by Reuters on April 9. The valuation marks a decrease from its last funding round over three years ago, which valued Nuro at $8.6 billion during a venture-capital boom. The adjustment in valuation follows a peri...

At the Hannover Trade Fair 2025, Imec, a research and innovation hub in nanoelectronics and digital technologies, announced a collaboration with the state government of Baden-Württemberg, Germany, to launch the Advanced Chip Design Accelerator (ACDA) in Baden-Württemberg. This new competence center aims to enhance Imec's Automotive Chiplet Program by developing chiplets, packaging, system integration, sensing and AI technology, thereby supporting the automotive industry in the introductio...

The South Korean government, via the Ministry of Land, Infrastructure and Transport (MOLIT), announced a significant initiative to bolster automated vehicle services in various regions throughout the country, including Seoul, Sejong, Gyeonggi (comprising Pangyo and Anyang), Chungnam (Cheonan), Gyeongbuk (Gyeongju), Gyeongnam (Hadong), and Jeju. This initiative is backed by an investment of 2.6 billion won (about $1.8 million). The funding is distributed among these regions with specific amounts ...

Croatian electric-hypercar manufacturer Rimac is advancing its diversification strategy with its subsidiary Verne, which has commenced the construction of a factory near Zagreb, Croatia, for the purpose of manufacturing autonomous electric vehicles aimed at a forthcoming robo-taxi service, as reported in a press release on Feb. 11. This initiative, disclosed in June 2024 with Porsche holding a 20% stake in Rimac, draws inspiration from Jules Verne, focusing on three primary components inclu...

Jaguar Land Rover (JLR) has announced plans to expand its technology hub located in Portland, Oregon, the US, to develop advanced connectivity and autonomous driving technologies for future JLR vehicles. Over the next 10 years, the UK-based carmaker plans to inject approximately $180 million into expanding the 50,000-square-feet technology hub. The focus will be on crafting a diverse array of advanced technologies as the automotive industry moves toward more software-driven vehicles (SDVs). T...

Waymo has announced the initiation of fully driverless robo-taxi rides for its employees in Atlanta, marking a significant step toward the company's goal of opening this service to the public by 2025, according to a report published by TechCrunch on Jan. 30. This development underscores Waymo's efforts to expand into new markets, bolstered by the closure of a $5.6 billion Series C funding round two months prior, which valued the company at $45 billion. This funding round included major inve...

Aurora Innovation, a company specializing in autonomous driving technology, has inaugurated a new 78,000 square-foot office and testing facility in Bozeman, Montana, US. This new facility, situated on Montana State University's Innovation Campus, aims to bolster the development and testing of Aurora's FirstLight Lidar technology. This strategic investment follows Aurora's 2019 acquisition of Blackmore, a Bozeman-based lidar company, which bolstered its expertise in lidar technology essential ...

Uber Technologies is considering an investment exceeding $10 million in Pony AI Inc.'s upcoming IPO in the US, according to a report published by The Economic Times on Nov. 21. The autonomous driving firm, Pony AI, plans to price its IPO next week, which has seen an increase in size due to heightened interest. Although the final investment amount by Uber is yet to be determined and discussions are still ongoing, Uber is exploring the possibility of utilizing Pony AI's technology in a par...

DeepRoute.ai has announced a successful Series C1 funding round, raising $100 million from a prestigious Chinese automotive original equipment manufacturer, as reported in a press release on Nov. 4. The strategic investment aims to boost research and development of the company's end-to-end model, DeepRoute IO; facilitate collaboration with global automakers; explore potential robo-taxi businesses; and attract more AI-native talent. DeepRoute.ai plans to release over 10 additional series mod...

Alphabet's self-driving unit, Waymo, announced the closure of a $5.6 billion funding round with Alphabet leading the investment effort to bolster its autonomous ride-hailing service's expansion, according to a report published by Reuters on Oct. 25. The funding round attracted participation from a range of existing investors, including Andreessen Horowitz, Fidelity, Perry Creek, Silver Lake, Tiger Global and T. Rowe Price.  "With this latest investment, we will continue to welc...

Wayve, a company specializing in embedded AI for the automotive industry, has opened a new office in Sunnyvale, Calif., to support its expansion and AI development in the US. The UK-based company has also started a driver assistance testing program in San Francisco and the Bay Area. This development marks Wayve's first on-road trials outside the UK, representing a significant step toward creating AI software aimed at enhancing driving assistance and automation features globally. The US t...

Jaguar Land Rover (JLR) has launched its latest Open Innovation Hub in Bengaluru, Karnataka, India, marking a significant expansion of its global innovation network. The India Hub will collaborate closely with startups to develop the next generation of products and services that will help automakers define future client experiences. This endeavor builds on the successes of JLR's existing innovation hubs situated in the UK, US, Israel and Brazil, extending its focus on advanced technologies su...

GAC Group is considering investing $25 million in China-based autonomous driving startup Pony.ai, according to a report by Yicai Global on Oct. 11. This investment, approved by GAC's board of directors, will be made through its subsidiary, GAC Capital. The initiative is part of the Chinese automaker's strategy to accelerate the development of its autonomous driving business. In August 2023, GAC signed a three-party joint venture agreement with Toyota Motor (China) Investment and GAC Toyota Mo...

Engineering service provider Segula Technologies has inaugurated its new US headquarters in Troy, near Detroit in Michigan, US, highlighting its expansion efforts in North America. The 7,000-square-feet office, located on the 12th floor of a modern building, provides a spacious and contemporary space for its operations. Troy's strategic role in engineering and technology, coupled with its proximity to leading technology companies including automakers such as General Motors, Ford and Stellantis, ...

The White House has selected Monroe Capital to launch a dedicated fund to help automotive suppliers in the US. The Drive Forward Fund will aim to raise up to $1 billion to invest in small and medium-sized companies that play a pivotal role in fueling growth and innovation in the US automotive industry. The Drive Forward Fund will target suppliers and manufacturers including those offering software as a service (SaaS) and other technological solutions catered to the automotive sector. Beyond i...

In a press release on Sept. 10, SiLC Technologies recently announced that it has recevied an investment from Honda for the development of advanced frequency-modulated continuous wave (FMCW) Lidar technologies aimed at enhancing mobility across various applications. This investment forms part of Honda's global initiative, Honda Xcelerator Ventures, which focuses on fostering innovation through collaboration with high-potential startups. Led by Honda Innovations, a subsidiary of Honda Motor Co. Lt...

Denso announced on Sept. 9 its plan to construct a new plant at the site of the existing Zenmyo Plant in Nishio City, Aichi Prefecture, Japan. With construction kicking off in the first half of fiscal year 2025 and completion expected by January 2027, the company aims to start production in the first half of fiscal year 2028. The projected investment for this expansion is approximately ¥69 billion (about $0.48 billion).  The company is focusing on three main challenges to...

Ecar Technology, a mainland China-based startup specializing in low-speed self-driving vehicles, has raised 200 million yuan (about $28.1 million) in funding from strategic investors, Yicai Global reported Sept. 4. The investment round was participated by Guohe Capital, state-owned financial service provider China Capital Management and a venture capital firm backed by the Huishan district in Wuxi, located in China's eastern Jiangsu province. Ecar will use the proceeds of the latest funding r...

Holon, a subsidiary of the global automotive supplier Benteler Group, has announced its plans to establish the first production plant for industrialized autonomous, electric shuttles in the United States, located in Jacksonville, Fla., as reported in a press release Sep. 4. This facility marks Holon as the first automotive original equipment manufacturer to manufacture in Florida, with production set to commence in 2026. The venture is expected to create 150 initial jobs, with the potential f...

Didi Global has announced a significant investment in NavInfo's intelligent driving unit, AutoAI, amounting to 670 million yuan (about $94 million), Yicai Global reported Aug. 28. The deal makes the mainland China-based ride-hailing service provider the second-largest shareholder in AutoAI and marks a shift in its strategic focus away from car manufacturing toward smart driving technologies. Didi's investment comprises 220 million yuan in cash and the transfer of its Ruilian Xingchen Beijing ...

In a press release on Aug. 19, LeddarTech announced a financing deal comprising bridge loans totaling up to $9.0 million, alongside conversions of convertible notes amounting to $1.5 million at a conversion price above market value at $2.00 per share. The company specializes in AI-based sensor fusion and perception software technology named LeddarVision, designed for advanced driver assistance systems (ADAS), autonomous driving (AD) and parking applications. The financing agreement in...

Alphabet, the parent company of Waymo, has announced an investment of $5 billion into its self-driving car unit, aimed at advancing Waymo's position as a leader in autonomous driving technology, according to a report published by CNBC on July 23. The investment, revealed by Alphabet's outgoing Finance Chief Ruth Porat during the company's second-quarter earnings call, is part of Alphabet's "Other Bets" segment. This segment, which includes Waymo, reported a quarterly revenue of $365 million, ...

According to a press release on July 11, Tata Elxsi, a global design and technology services company, and Emerson, a key player in global automation, have inaugurated the Tata Elxsi + NI Mobility Innovation Centre (TENMIC) in Bengaluru. This advanced center is established with the vision to expedite automotive innovation through state-of-the-art systems, software solutions and extensive global automotive expertise. The automotive sector is witnessing a rapid transformation with the emergence ...

Automotive engineering service provider EDAG has inaugurated its Zero Prototype Lab in Wolfsburg, Germany, marking a major advancement in vehicle development and testing, the company said in a press release June 27. This advanced vehicle dynamics simulation center, distinguished as unique within Europe, provides national and international clients the capability to conduct virtual tests on vehicles and their critical functionalities without the necessity for physical prototypes.  It incorpor...

Chairman Wang Chuanfu announced that BYD, a Chinese electric vehicle manufacturer, intends to allocate an investment of ¥100 billion ($13.8 billion) toward developments in autonomous driving technology, as reported by Nikkei Asia on June 12. This strategic move underscores the growing importance and integration of autonomous driving features in vehicles within China. Although a specific timeline for this investment plan was not disclosed, it is evident that BYD is significantly ramping up it...

According to a report published by Nikkei Asia on June 12, Xiaomi is intensifying its competition in China's electric vehicle market by planning to expand its team of driver assistance technology developers to 2,000 by 2025, starting with an increase to 1,500 by the end of this year. This move is part of its broader investment strategy in which Xiaomi will allocate ¥4.7 billion ($648 million), with ¥1.5 billion disbursed this year, toward advancing its driver assistance technology.  Th...

As reported in a press release June 18, Waabi announced a $200 million Series B funding round led by Uber and Khosla Ventures, with participation from notable investors such as NVIDIA, Volvo Group Venture Capital, Porsche Automobil Holding SE, Scania Invest, Ingka Investments, HarbourVest Partners, G2 Venture Partners, BDC Capital's Thrive Venture Fund, Export Development Canada, Radical Ventures, Incharge Capital and more. This funding, elevating Waabi's total investment to over $280 million...

A South Korea-based startup founded in 2018 by CEO Jae-Eun Lee recently closed a $25 million Series-B funding round to advance its high-resolution radar technology, which it aims to apply not only in autonomous driving but also to enhance smart cities and digital healthcare, as reported in a press release on June 18. "We truly believe in the transformative role our cutting-edge radar solutions will have across a host of industries and want to make ‘radar everywhere’ a reality,” said&nbs...

As reported in a press release June 16, Tier IV has secured an additional $54 million in its Series B funding round, bringing the total to $132 million. This raises the company's accumulated funds to $243 million. From its Series A round, Tier IV shifted from focusing solely on Autoware open-source software, to commercialize comprehensive software platforms that include communication, insurance and risk management features for autonomous driving systems. The Series B funding will be used to l...

General Motors (GM) has announced an investment of $850 million in Cruise to cover the company's operational costs following the suspension of its robo-taxi service due to an accident involving a pedestrian. The announcement was made by GM's CFO Paul Jacobson, at Deutsche Bank's Global Auto Industry Conference in New York City. The company is also seeking new external investors to enhance its financial stability. The accident has exacerbated an ongoing financial struggle for Cruise, whic...

MORAI, a provider of autonomous driving simulation platforms to verify the safety and reliability of autonomous systems, has announced the launch of its new subsidiary in Munich, Germany, marking a significant expansion of its business within the European and Middle Eastern markets, according to a press release on June 3. The company has named Thomas Guntschnig as the managing director of Europe, the Middle East and Africa. MORAI provides autonomous driving simulators and digital twin technol...

As reported in a press release on May 31, Gapwaves has received funding from Vinnova for a project aimed at developing advanced radar sensor front-end modules and solutions for increased road safety. This three-year project will be executed by a consortium including Gapwaves, Chalmers University of Technology, Klimator, Magna Electronics Sweden, RISE Processum and Sensrad. The total grant of 14.5 million Swedish kronor will be shared among the participating organizations, with Gapwaves receiving...

According to a press release on May 22, dSPACE officially opened its software development site in Trivandrum, India. With initially about 25 employees, dSPACE India Software and Technologies Pvt. Ltd. (dSPACE India S&T) will immediately support the global software development of providers of simulation and validation solutions. By expanding and globalizing its development capacities, dSPACE will be able to offer Indian customers solutions and also meet the requirements of global customers in...

Mercedes-Benz Research & Development North America has announced a funding initiative aimed at advancing AI research in the automotive industry. The company will provide funding for 15 graduate students at Stanford University to conduct hands-on research in generative AI and its application in the automotive sector. The initiative also includes 3D imaging research at the University of California San Diego's Autonomous Vehicle Laboratory, as reported in a press release on May 7. The studen...

Allison Transmission, through its venture capital arm, Allison Ventures, has invested $10 million in EnerTech Capital, a venture capital firm focused on the development of emerging technologies and business models in the mobility space. “EnerTech seeks to redefine the mobility sector through investments in companies that are shaping the future of the industry. This strategic partnership will accelerate Allison’s efforts to increase our innovation pipeline across commercial duty mobility a...

Japanese automaker Suzuki Motor Corporation has invested an undisclosed amount in California-based startup Glydways, Inc., the carmaker announced on May 15. Established in 2016, Glydways develops autonomous and battery-powered compact electric vehicles that are available on-demand for personal rapid transit. These EVs are of the size of a mini vehicle, and they travel on dedicated lanes. Glydways aims to revolutionize the urban mobility through their new traffic system that they claim is more...

Cepton has signed an engineering services agreement with long-term automotive partner and shareholder Koito, it said in a press release dated May 13. Under the agreement, Koito will provide Cepton with $10 million in engineering services fees for the quarter ending June 30, 2024, to support a major global original equipment manufacturer program that Cepton and Koito have recently secured. The agreement aims to fuel Cepton's customer-specific product development and program execution efforts f...

Japan’s largest automaker Toyota Motor Corp. plans to invest ¥2 trillion (about $12.9 billion) on new technology development, including electric vehicles and hydrogen propulsion systems, as well as on strengthening its supply chain management in the financial year ending March 2025, according to a news report published by Nikkei Asia on May 8. The automaker reported a record net profit of ¥4.9 trillion for the financial year ended March 2024 on May 8. The results were helped by a wea...

Wayve announced in a press release on May 7 that the company has successfully raised $1.03 billion in Series C funding. This significant investment showcases investor confidence in the potential of AI to revolutionize various industries. SoftBank, the Japanese conglomerate known for its investments in Uber and other technology companies, led the funding round, with participation from Microsoft and Nvidia. Notably, Wayve's previous investors include Yann LeCun, the chief AI scientist at Meta...

HL Klemove Corp. has inaugurated its first local Advanced Driving Assistance System (ADAS) Radar Manufacturing Unit in India. The unit was launched at the company's Chennai, India, plant, marking a significant milestone in the Make in India initiative. The event was attended by Vinod Sahay, president and chief procurement officer of Mahindra & Mahindra Ltd.; and Pal-Joo Yoon, CEO of HL Klemove; according to a report published by Telemetics Wire on April 25. HL Klemove is the first co...

Nio has opened its smart driving technology center in Schönefeld near Berlin. The center is the first of its kind outside of China and marks a significant milestone in Nio's international footprint. The new facility will lead the development of Nio's smart driving assistance systems, tailored to the needs of European users, according to a press release on April 8. The smart driving technology center is located in the greater Berlin area, close to Nio's Berlin Innovation Center, which opened ...

In a press release announcement on March 28, Valeo has opened a new manufacturing facility in Daegu, South Korea, for the production of sensors for vehicle automation. The facility was officially launched in the presence of Daegu Metropolitan Mayor Hong Joon Pyo, Valeo executives and French Ambassador of Korea Philippe Bertoux. In July 2022, Valeo signed an investment agreement worth $56 million with the Daegu Metropolitan Government to mass-produce advanced driver assistance systems (ADAS) p...

South Korean automaker Hyundai Motor Group plans to make a big-ticket investment of 68 trillion won (over $50 billion) on research and development projects, capacity expansion and recruitment of new talent between 2024–26, as the company prepares to transition to zero-emission mobility, Hyundai announced March 27. The earmarked investments are aligned with Hyundai Motor’s larger strategy of becoming one of the top three electric vehicle manufacturers globally by 2030. Hyundai’s inves...

Stellantis Ventures, the corporate venture fund of Stellantis NV, has invested in SteerLight, a startup that develops a new generation of high-performance Lidar sensing technology, as reported in a press release on March 20. SteerLight's technology employs silicon photonics technology to provide 3D-surroundings sensing with higher resolution and precision at a lower production cost than current Lidar systems. This technology has the potential to enhance advanced driver assistance sy...

May Mobility has announced that Tokyo Century Corp. has invested in the US-based autonomous vehicle technology company, in a press release dated March 19. The aim of the investment and partnership is to  deploy and promote autonomous vehicles across North America and Japan. Tokyo Century provides various mobility services, including auto leasing and car rentals, and has set electric vehicles and their related businesses, data business, autonomous driving technology, and other n...

Telechips and Aura have entered into an investment agreement to collaborate on automotive technologies, particularly in the area of advanced driver assistance systems (ADAS) and autonomous driving, according to a press release dated March 19. Telechips has agreed to invest an undisclosed amount in Aura, a radar technology solution development firm based in Boston. Telechips joins existing investors including Ray Stata (founder of ADI), Activate Global and GigaScale Capital. Aura speci...

As reported in a press release on March 14, Continental announced that, in 2023, it has invested over €100 million in its operations in Romania and exceeded 20,300 employees, up from 19,000 employees in 2022. Throughout 2023, Continental made significant investments in new equipment, advanced technology and employee development across all its Romanian locations. These locations include the electronic component factories in Timișoara and Sibiu; the ContiTech factories in Timișoara and...

Applied Intuition, a software supplier for various industries, has raised a $250 million Series-E financing round at a $6 billion valuation. The round was led by existing investors Lux Capital, Elad Gil and Porsche Investments Management SA, with participation from new and existing investors such as Andreessen Horowitz, General Catalyst, Mary Meeker, Henry Kravis, Mustafa Suleyman, Ray Dalio, John Quinn and Nico Rosberg. The company plans to use the funds to invest in generative AI and expand...

Valeo, a global automotive supplier, will build a new “comfort & driving assistance systems manufacturing and [research and development] site” mainly for the R&D site in China's Waigang Industrial Park, according to a WeChat press release on Feb. 22. The site will primarily focus on the development and production of autonomous driving cameras, Lidars, domain controllers and chip bonding. Covering an area of about 30,000 square meters with a total floor area of 58,596 squ...

Haomo.AI, a Chinese autonomous driving company, has raised over 100 million yuan (about $13.9 million) in a Series-B1 round funding from Chengdu Wufa Private Equity Fund Management, according to a press release on Feb. 21. This is the first investment in the autonomous driving sector after China's Lunar New Year holiday. The funds will be used to enhance research and development, and support the development of robotics in Wuhou district, Chengdu, Sichuan Province. Xie Yong, chairman of Che...

BENTELER is set to secure a multimillion-dollar investment to expand its autonomous mover business, HOLON, through a minority stake acquisition by TASARU Mobility Investments, according to a press release on Feb. 7. TASARU Mobility Investments also signed a binding agreement to invest in the American tech company Recogni Inc. The BENTELER Group and TASARU have signed an agreement, subject to regulatory approvals. The investment will be used to advance the series development and industrializat...

Project 3 Mobility, a Croatian autonomous vehicle startup, has closed its Series A funding round, raising about €100 million from private investors to finance product development, according to a press release on Feb. 6. The investors in the Series A round included Tasaru Mobility Investments, a unit of Saudi Arabia's Public Investment Fund (PIF), joining existing investors in the startup that include South Korean automaker Kia and Croat EV maker Rimac Group. The startup is developing a f...

In a press release on Jan. 23, Kognic, a leader in dataset management for sensor fusion, announced its international footprint expansion into Japan and the US. The announcement was made at the Automotive World 2024 held at Tokyo Big Sight, Japan. The Kognic Platform has become a core toolset in the fields of advanced driver assistance systems (ADAS) and autonomous driving, and is currently being used by technology leaders such as Qualcomm, Bosch, Continental and Zense...

LG Innotek has invested in AOE Optronics to expand its market for optical components used in autonomous vehicle cameras and extended reality (XR) devices, The Korea Times reported Jan. 18. The investment in the Taiwanese company aims to secure a stable supply of lenses, a key component of camera modules, and optimize product design and manufacturing processes to improve quality and price competitiveness. Through this partnership, LG Innotek plans to expand its camera module portfolio into veh...

In a WeChat press release on Dec. 11, DiDi Autonomous Driving, a subsidiary of DiDi Chuxing, has announced a strategic investment from Horizon Robotics. This partnership aims to accelerate the commercial deployment of KargoBot's intelligent convoy system in the long-haul logistics sector. KargoBot, a Beijing-based autonomous trucking company, has been developing Level 4 autonomous technology, and conducting regular testing and operations in North China and Northwest regions. The strategic par...

Japanese automaker Isuzu Motors has invested in Foretellix, an Israeli startup that uses AI to test the safety of autonomous vehicles. The investment was made at the end of November, but the amount has not been disclosed, according to a report in Nikkei Asia on Dec. 9. Foretellix's technology simulates driving conditions that autonomous vehicles may face, such as weather changes and unexpected pedestrians on roads. The Israeli company's investors include US chipmaker Nvidia and...

In a press release announcement on Dec. 8, Mitsubishi Electric Corp. announced that its ME Innovation Fund has invested in Hayden AI Technologies Inc., a US-based startup company that provides the traffic violation enforcement services using image analysis technology. This is the sixth investment the fund has made to date. The US has very strict traffic regulations related to school buses to ensure the safety of children. For example, when a school bus is stopped and either displaying a stop ...

Foretellix, a provider of verification and validation (V&V) solutions for automated driving and advanced driver assistance systems (ADAS), has closed a Series C funding round of $85 million — bringing its total raised capital to $135 million, according to a press release on Dec. 5. The funding round was led by 83North, with new investors Temasek and Isuzu joining Woven Capital (the growth fund of Toyota), Nvidia and Artofin. The provider’s major existing shareholders also partici...

PhysicsX, a startup bringing the power of generative AI to enable breakthrough engineering in advanced automotive and other industries, has raised $32 million in a Series A round led by General Catalyst. Standard Investments, NGP, Radius Capital, and KKR Co-founder and Co-executive Chairman Henry Kravis also participated in the round, based on a press release on Nov. 27. PhysicsX is building AIs that dramatically accelerate accurate physics simulation, enable generative engineering ...

Blackshark.ai, an AI geospatial intelligence (GEOINT) company, has successfully raised $35 million in its Series A extension round, with existing investors and new partners joining the funding, according to a press release on Nov. 16. The company, known for creating the first 3D digital twin of the Earth for Microsoft's Flight Simulator, aims to democratize high-frequency 3D mapping applications across various sectors. The funding will be used to support technology developments, and bolster...

May Mobility has closed a $105 million Series D funding round led by NTT Group, according to its press release dated Nov. 7. Other new and existing investors, including Toyota Ventures, Aioi Nissay Dowa Insurance Company, State Farm Ventures, BMW i Ventures, Cyrus Capital, Millennium and Trucks Venture Capital, also participated in the round. This brings the company's total funding to approximately $300 million to date. May Mobility’s Series B and C were led by Toyota Motor Corp. and SPARX Gro...

According to a press release on October 12, DiDi Autonomous Driving has announced an investment from Guangzhou Automobile Group (GAC Group). The investment, worth up to $149 million, will be made by GAC Group’s wholly-owned subsidiary GAC Capital Co. and Guangzhou Development District Investment Group. DiDi Autonomous Driving will continue to invest deeply in research and development, accelerate the implementation of related products, pursue open collaborations in the industry chain, build ...

Kneron has raised an additional $49 million funding as a part of its Series-B round, it said in a press release dated September 26. Investors include Foxconn, HH-CTBC Partnership (Foxconn Co-GP Fund) and Alltek. The total amount raised in the Series-B round stands at $97 million. The full round was led by Horizons Ventures, with participation from Liteon Technology Corp. and Adata, Palpilot. Kneron will use the funds to focus on deploying advanced AI, particularly nano-GPT solutions for ...

Toyoda Gosei has announced an investment in Pyrenee, a startup that develops safe driving assistance devices, it said in a press release dated September 26. Toyoda Gosei will integrate Pyrenee’s driving assist technology into its safety systems and interior products. The investment is in line with its focus on safety, centered on airbags. The idea is to reduce traffic accidents through an approach of combining passive safety and preventive safety. The amount of the investment was undisclosed. ...

The UK government announced that £18.5 million would be made available to UK businesses to improve the supply chain’s capacities for connected and automated mobility in the country, according to a report published by the Automotive Electronics Systems Innovation Network (AESIN) on September 7. The awards are a part of the Commercialising Connected and Automated Mobility: Supply Chain competition from the Centre for Connected and Autonomous Vehicles (CCAV). AESIN is collaborating with partn...

Milton Keynes City Council and its partners have successfully secured almost £2 million ($2.4 million) in grant funding to introduce an autonomous shuttle bus service initiative, known as the StreetCAV project, into the city by October 2024, according to a report published by National World Publishing on September 11. The abbreviation "CAV" represents "connected and autonomous vehicles." The fleet will range from single-seat autonomous vehicles to larger units comparable to traditional buses...

According to a report published by Express Mobility on September 8, the former leaders of Ford Motor Co. and Volkswagen AG's self-driving division are embarking on a new venture in autonomous trucking, buoyed by over $1 billion in funding from Japan's SoftBank Group Corp. The new firm is led by Bryan Salesky, Pete Rander and Brett Browning, who previously ran Argo AI, the self-driving operation that Ford and Volkswagen shut down in 2022. Based in Pittsburgh, which was also home to Argo, Stack...

Helm.ai has successfully raised $55 million in a Series C funding round, led by the Freeman Group, with participation from venture capital firms ACVC Partners and Amplo, and strategic investments from Honda Motor, Goodyear Ventures and Sunwoo Hitech, according to a press release on August 30. The startup also announced the location of its first international office in Germany. “It is my pleasure to showcase Helm.ai's innovations in the fields of robotics, AI and self-driving vehicles, colla...

According to a WeChat press release on August 16, Zeron has announced the completion of a Series Pre-A financing worth 140 million Chinese yuan (about $19.31 million). The round was coled by Skyview Fund and Lenovo Capital, and followed by Xinyi Capital. The funds raised will mainly be used for continued investment in mass production of the first model, research and development of core subsystems, research on autonomous driving algorithms and recruitment of talented human resources. Establ...

The BMW Group announced the opening of its new test site in Sokolov, Czechia, called the Future Mobility Development Center (FMDC) for fully automated development and test drives. A first-of-its-kind in central Europe, the FMDC with an investment of €300 million will play a key role in the company’s future mobility development. With the development of FMDC, the company has transformed the mining region into an innovation hub employing more than 100 skilled workers. The surroundi...

According to a report published by Automotive News on July 21, autonomous vehicle developer Aurora Innovation completed a two-part $820 million funding round. The capital raise will help Aurora launch its autonomous trucking business by the end of 2024. It will start with a route between Dallas and Houston. "This huge amount of funding gives us the runway through next year's expected commercial launch and well into 2025," Aurora CEO Chris Urmson said in a blog post. "We're all living throu...

ZF has announced the expansion of its production of Advanced Driver Assist Systems (ADAS) technologies with the start of production at its electronics plant in Monterrey, Nuevo Leon, Mexico, according to a press release June 30. The facility, which employs 120 people, is ZF’s first manufacturing project in the state of Nuevo Leon. Its operation focuses on the manufacture of advanced electronics components for passenger vehicles, helping to improve occupant safety. In July, the plant began m...

AI-based traffic management platform NoTraffic has secured $50 million in Series B funding, according to a report published by TechCrunch on June 27. The financial infusion comes as the Biden administration's infrastructure package enters its second year and a number of financing programs kick in to relieve traffic congestion, cut CO2 emissions and reduce road deaths. NoTraffic’s combined hardware-software solution turns intersections into smart intersections that can manage traff...