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investment

Volvo invests in autonomous car software developer Apex

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Volvo Group Venture Capital has invested in Apex.AI, a developer of software for autonomous cars and mobility.

Volvo says the investment will fund the development of a “safety-certified software framework for autonomous systems”.

Apex, a Palo Alto, California-based company founded in 2017, is building an automotive-grade version of Robot Operating System, an established open source software framework commonly used in robotics and autonomous systems research. [Read more…] about Volvo invests in autonomous car software developer Apex

Kia and Hyundai debut virtual reality system for design evaluation

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Kia Motors and Hyundai have debuted a new virtual reality design evaluation system at the brands’ global design headquarters.

The new system, introduced to the Namyang Research and Development Center in South Korea, demonstrates a heightened focus on enhancing vehicle development processes through the implementation of VR technology.

Kia and Hyundai displayed how new VR technology will be utilised by both brands in future. [Read more…] about Kia and Hyundai debut virtual reality system for design evaluation

Nvidia launches ‘world’s most advanced’ chip for robotics and autonomous driving

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Nvidia has launched what it describes as the “world’s most advanced” chip for robotics and autonomous driving.

The Nvidia Drive AGX Orin is said to be a highly advanced software-defined platform, powered by a new system-on-a-chip called Orin.

The new chip consists of 17 billion transistors and is the result of four years of research and development investment. [Read more…] about Nvidia launches ‘world’s most advanced’ chip for robotics and autonomous driving

GM and LG agree $2.3 billion partnership to mass-produce car battery cells

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General Motors and LG Chem have agreed a partnership to mass-produce battery cells for future electric vehicles.

Together, the companies will invest up to a total of $2.3 billion through a new, equally owned joint venture company.

The joint venture will establish a battery cell assembly plant on a greenfield manufacturing site in the Lordstown area of Northeast Ohio that will create more than 1,100 new jobs. [Read more…] about GM and LG agree $2.3 billion partnership to mass-produce car battery cells

Blue Ocean Robotics raises $12 million to develop service robotics market

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Blue Ocean Robotics, said to be the “world’s first” robot venture factory, has raised almost $12 million to develop its position in the service robotics market.

Blue Ocean Robotics is entering new robot markets with service robots for the healthcare, hospitality, construction and agriculture industries.

The new investment is described as a recognition of the strength of Blue Ocean Robotics’ business model and success. [Read more…] about Blue Ocean Robotics raises $12 million to develop service robotics market

Alibaba increases stake in Cainiao by $3.3 billion

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Alibaba, the world’s largest e-commerce company, has increased its equity stake in Cainiao, a provider of automated logistics systems. The two companies have been partners for some time and last year opened what was reported to be the largest robot-operated warehouse in China. 

The additional investment in Cainiao Smart Logistics Network totals RMB23.3 billion (US$3.3 billion) and increases Alibaba’s equity from approximately 51 per cent to approximately 63 per cent.

The investment method used involved subscribing for newly issued Cainiao ordinary shares in its latest financing round and purchasing certain equity interest from an existing Cainiao shareholder. [Read more…] about Alibaba increases stake in Cainiao by $3.3 billion

AGCO completes Maryland assembly, distribution, training facility

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AGCO Corporation, a worldwide distributor and manufacturer of agricultural equipment, has completed expansion of its Edgewood, Maryland assembly and distribution facility.

The facility will be used to build Fendt high horsepower tractors and Massey Ferguson compact and utility tractors and equipment.

The location also now includes a training center to provide dealers in the region a more cost-effective, time-efficient location for product and service training. [Read more…] about AGCO completes Maryland assembly, distribution, training facility

Gideon Brothers raises €2.65 million in new funding and partners with DB Schenker

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Leading global logistics provider DB Schenker has introduced Gideon Brothers autonomous logistics robots into service at its Leipzig facility.  

Gideon Brothers, an AI and robotics company, developed breakthrough autonomy technology that combines deep learning and advanced vision-based perception.

The technology offers a flexible solution for automating logistics operations in existing facilities, allowing productivity gains without the need to modify facilities. [Read more…] about Gideon Brothers raises €2.65 million in new funding and partners with DB Schenker

TuSimple raises $215 million in ‘oversubscribed’ Series D funding round

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Autonomous haulage truck developer TuSimple has raised $215 million in its Series D funding round.

TuSimple says the new funds are “part of an extended Series D round that was oversubscribed and reached a total of $215 million”.

The round includes previously announced investor UPS, the global logistics company. [Read more…] about TuSimple raises $215 million in ‘oversubscribed’ Series D funding round

Self-driving tech startup Voyage Auto raises $31 million in funding

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A self-driving technology startup called Voyage Auto has raised $31 million in Series B funding.

The investment round was led by Franklin Templeton, with significant participation from Khosla Ventures, Jaguar Land Rover’s InMotion Ventures, and Chevron Technology Ventures.

The latest funding round brings Voyage Auto’s total capital raised to $52 million. [Read more…] about Self-driving tech startup Voyage Auto raises $31 million in funding