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Hanwha Systems gearing up to enter air taxi market

January 20, 2020 by Mai Tao Leave a Comment

Hanwha Systems is making a $25 million investment in US air taxi startup Overair, and has received approval from the relevant authorities for the move.

Hanwha Systems and Overair research and development are planning to co-develop and bring the “Butterfly” to the US air-taxi market by the year 2025.

In early December of 2019, Youn-Chul Kim, CEO of Hanwha Systems, said that the Committee on Foreign Investment in the United States (CFIUS) approved Hanwha Systems’ $25 million investment in Overair (previously K4 Aeronautics), a leading US air-taxi startup. [Read more…] about Hanwha Systems gearing up to enter air taxi market

4 AI Functions Already Up and Running in 2019 That’ll Leave You Speechless

November 12, 2019 by Liv Leave a Comment

Despite the fact that AI is already being utilised in a huge variety of ways by a myriad of industry, it’s still perceived as being an emergent technology, something of great promise yet to materialise. This couldn’t be further from reality.

These four examples of AI and machine learning have already been saving you time and effort for years at this point, but it’s only really in the last few years that they’ve become completely viable and effective. I mean, remember Siri when it first came out? Spectacularly hit and miss.

AI, along with machine learning, has made a massive number of things possible across industries, proving critical to many different tech platforms. 37% of organisations have been found to utilise AI in some form. [Read more…] about 4 AI Functions Already Up and Running in 2019 That’ll Leave You Speechless

Toyota, Denso, and SoftBank pledge another $1 billion investment for Uber

April 19, 2019 by Mai Tao

Taxi-sharing app maker Uber has been promised $1 billion in investment from companies including Toyota, Denso, and SoftBank Vision Fund.

The new funds will help accelerate the development and commercialization of its ridesharing services, says Uber in a statement.

Under the terms, Toyota and Denso will together invest $667 million and SVF will invest $333 million, valuing the new “Uber Advanced Technologies Group” entity at $7.25 billion on a post-money basis. [Read more…] about Toyota, Denso, and SoftBank pledge another $1 billion investment for Uber

Toyota to invest $500 million in Uber

August 30, 2018 by Anna

Toyota Motor Corporation and Uber Technologies, Inc. have agreed to expand their collaboration with the aim of advancing and bringing to market autonomous ride-sharing as a mobility service at scale.

To accomplish this, technology from each company will be integrated into purpose-built Toyota vehicles to be deployed on Uber’s ride-sharing network. Separately, Toyota is investing $500 million in Uber.

“Combining efforts with Uber, one of the predominant global ride-sharing and automated driving R&D companies, could further advance future mobility,” said Shigeki Tomoyama, executive vice president, TMC, and president, Toyota Connected Company.

SoftBank to invest $10 billion in Uber

November 13, 2017 by Sam Francis

SoftBank is highly likely to go ahead with its plan to invest $10 billion in Uber, the ride-hailing app company, according to a report on CNet.com.

An Uber representative quoted by CNet says: “We’ve entered into an agreement with a consortium led by SoftBank and Dragoneer on a potential investment.

“We believe this agreement is a strong vote of confidence in Uber’s long-term potential. Upon closing, it will help fuel our investments in technology and our continued expansion at home and abroad, while strengthening our corporate governance.” [Read more…] about SoftBank to invest $10 billion in Uber

Uber’s autonomous truck journey off to a bumpy start

June 28, 2017 by Sam Francis

By Heather Somerville and Julia Love, Reuters

Uber Technologies’ drive to become a major player in the trucking business is off to a bumpy start, with analysts and industry executives questioning what exactly the company can bring to the sprawling $700-billion industry.

The San Francisco ride-services giant had planned to disrupt freight hauling by offering a complete package of trucking technology including self-driving trucks and smartphone-based logistics services.

But what has emerged so far, industry watchers say, is a modest effort to build a brokerage service connecting truckers looking for loads to shippers with cargo to haul. [Read more…] about Uber’s autonomous truck journey off to a bumpy start

Daimler does deal with Uber on autonomous vehicles

February 3, 2017 by Sam Francis

Daimler says it has agreed a deal with Uber that aims to bring more self-driving vehicles onto public roads.

The “general agreement” is intended to pave the way for the supply and operation of self-driving Mercedes-Benz vehicles on Uber’s network.

The two companies say they intend to cooperate on the supply and operation of self-driving vehicles.

Under the terms of the cooperation Daimler plans to introduce self-driving vehicles also on Uber’s global ridesharing network in the coming years.

Daimler is the first auto company to join with Uber as it opens up its platform for manufacturers to introduce their own self-driving cars. [Read more…] about Daimler does deal with Uber on autonomous vehicles

Volvo and Uber join forces to develop autonomous driving cars

August 18, 2016 by Sam Francis

Volvo Cars, the Swedish car maker, and Uber, the ride-sharing company, are to join forces to develop next-generation autonomous driving cars.

The two companies have signed an agreement to establish a joint project that will develop new base vehicles that will be able to incorporate the latest developments in advanced driving technologies, up to and including fully autonomous driverless cars.

The base vehicles will be manufactured by Volvo Cars and then purchased from Volvo by Uber. Volvo Cars and Uber are contributing a combined $300 million to the project. [Read more…] about Volvo and Uber join forces to develop autonomous driving cars

Toyota teams up with Uber with a view to driverless taxi future

May 25, 2016 by Sam Francis

Toyota and Uber have entered a partnership with a view to developing driverless taxis of the future, although the initial developments will be in ridesharing services.

The two companies say they will explore collaboration, starting with trials, in the world of ridesharing in countries where ridesharing is expanding, taking various factors into account such as regulations, business conditions, and customer needs.

As part of the partnership, Toyota Financial Services Corporation and Mirai Creation Investment Limited Partnership are making a strategic investment in Uber. [Read more…] about Toyota teams up with Uber with a view to driverless taxi future