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ZF and Foton open joint facility in China to produce automated commercial vehicles

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German automotive components giant ZF Friedrichshafen and Chinese commercial vehicles manufacturer Foton have jointly opened a facility to produce automated commercial vehicles.

The joint plant in Jiaxing will produce automatic commercial vehicle transmissions for the Chinese market, and the partners say they see “excellent market potential for automated commercial vehicles in the next five years”.

At the end of 2016, ZF entered into two joint ventures with Foton, a Chinese commercial vehicle manufacturer, to produce and sell commercial vehicle transmissions. [Read more…] about ZF and Foton open joint facility in China to produce automated commercial vehicles

Alstom starts production of passenger locomotives in Kazakhstan

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Alstom has started production of passenger electric locomotives at its 75%-owned EKZ joint venture in Nur-Sultan (Astana), Kazakhstan.

These locomotives are part of a contract signed with KTZ (Kazakhstan Railways) for delivery and maintenance of 302 Prima T8 KZ8A and 119 Prima M4 KZ4AT electric locomotives.

Alstom is expanding manufacturing lines at EKZ including for the construction of Prima T8 freight locomotives KZ8A for Kazakhstan and the production of on-board transformers for AZ8A, for export to Azerbaijan, and now the assembly of Prima M4 passenger locomotives.

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Xometry raises $50 million for on-demand parts marketplace

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Xometry, the largest on-demand manufacturing marketplace, has raised $50m in equity funding, led by Greenspring Associates.

The new funding will back efforts to build a platform connecting suppliers to businesses that need prototypes and small runs of parts.

Dell Technologies Capital will also participate in the round, along with all previous venture and strategic investors including BMW i Ventures, Foundry Group, GE Ventures, Highland Capital Partners, Maryland Venture Fund and Almaz Capital. Xometry has raised a total of $113m to date.

[Read more…] about Xometry raises $50 million for on-demand parts marketplace

BASF invests in quantum computing startup Zapata

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BASF Venture Capital is joining a group of prominent investors in the Series A investment round of Zapata Computing, Inc.

Headquartered in Cambridge, Massachusetts, Zapata is developing both a powerful software platform as well as specific applications for Global 1000 companies to effectively use a range of emerging quantum computing hardware.

By investing in Zapata, BASF Venture Capital supports BASF’s strategic goal to take advantage of the opportunities that digitalisation offers along the entire value chain.

[Read more…] about BASF invests in quantum computing startup Zapata

Denmark conference highlights high-growth robotics companies

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The biggest event for direct investment in Odense, home to the world-famous Danish robotics cluster, Odense Investor Summit 19, takes place June 26.

The event offers a unique opportunity to see the most promising and exciting technologies in the fields of robotics, drones and health tech plus access to fellow investors and investor networks.

With the prospect of an estimated 2-300 per cent growth by 2025, the Danish robotics cluster has a unique appeal to international investors.

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Ekso Bionics in $100 million joint venture to develop the exoskeleton market in Asia

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Ekso Bionics, Inc. is to establish a joint venture to develop and serve the exoskeleton market in China and other Asian markets and to create a global exoskeleton manufacturing centre.

It will partner with Zhejiang Youchuang Venture Capital Investment Co., Ltd (ZYVC) and Zhejiang Silicon Paradise Asset Management Group.

The joint venture will develop, sell and support exoskeleton products into China, Hong Kong, Singapore, and Malaysia, and will be capitalized at greater than $100 million over its term.

[Read more…] about Ekso Bionics in $100 million joint venture to develop the exoskeleton market in Asia

Hitachi establishes venture capital fund for start-up partners

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On 1 June, Hitachi is to establish a new corporate venture capital (CVC) fund, Hitachi Ventures Fund, and unit, Hitachi Ventures GmbH (HVG), whose responsibility will be to identify and acquire equity interests in fast-growing innovative start-ups globally.

HVG will hire top external talents with experience and capability on CVC activities to invest to and collaborate with start-ups globally.

Stefan Gabriel, former president of 3M New Ventures, is to be CEO of HVG. The unit will start life with $150M.

[Read more…] about Hitachi establishes venture capital fund for start-up partners

Robotic toymaker Anki to close down

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Anki, a startup company which made robotic toy cars and trucks, is planning to close its doors, according to a report on the Recode website.

The company had raised more than $200 million in funding for the venture, and generated $100 million in revenue in 2017, but is now making all of its 200 employees redundant.

In a statement to Recode, the company says that it had been left “without significant funding” which meant it could not finance its hardware and software development plans going forward.

[Read more…] about Robotic toymaker Anki to close down

Hyundai and H2 Energy sign joint venture deal on hydrogen mobility in Europe

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Hyundai Motor Company and H2 Energy AG have signed a contract for a joint venture, Hyundai Hydrogen Mobility, aimed at taking a lead across Europe’s burgeoning hydrogen mobility ecosystem.

To begin the joint venture’s operations, Hyundai Motor will deliver 1,600 fuel cell electric heavy-duty trucks to Hyundai Hydrogen Mobility from 2019 through 2025.

The venture will then lease a large portion of these fuel-cell powered trucks to the H2 Mobility Switzerland Association, which comprises major refuelling station operators, transport and logistics companies, as well as to various other industry players that promote hydrogen mobility in Switzerland. [Read more…] about Hyundai and H2 Energy sign joint venture deal on hydrogen mobility in Europe

Motors giant Nidec enters into $260 million joint venture with automaker PSA

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Nidec, one of the world’s largest suppliers of motors and other industrial components, has entered into a joint venture with global automaker PSA Group.

The “Nidec-PSA emotors” joint venture has been created by Groupe PSA and Nidec to initiate the design of “future electric motors”.

Shigenobu Nagamori, CEO of Nidec, and Carlos Tavares, CEO of Groupe PSA, endorsed the establishment of Nidec-PSA emotors, saying the new business will be “dedicated to the design, development, manufacture and sale of electric traction motors”.  [Read more…] about Motors giant Nidec enters into $260 million joint venture with automaker PSA