Silicon Valley News Update
Week Ending August 11, 2017
This week we saw some interesting developments across the Automotive ecosystem and beyond. Below are some key highlights:
- SoftBank’s CEO says he wants stake in Uber or Lyft. Read More
- LiDAR is set to drastically change the world and how we drive. Here’s how it works. Read More
- Toyota, Mazda plan $1.6 billion US plant, to partner in EVs. Read More
- Volvo Cars and Geely agree on technology sharing. Read More
- Volkswagen brand’s chief executive sees Tesla as their main competitor. Read More
- General Motors quietly deepens Silicon Valley ties by learning to play tech incubator. Read More
- Tesla is raising $1.5 billion to expand Model 3 production. Read More
- Bosch says demand increasing for Advanced Driver-Assistance Systems. Read More
- Car makers teaming up with tech firms on autonomous vehicles. Read More
- Delphi raises guidance and remains on road to driverless-car future. Read More
- Oryx Vision raises $50M to build better LiDAR for self-driving vehicles. Read More
Softbank’s CEO, Masayoshi Son, expressed interest in the U.S. ride-hailing market, saying that he would be willing to invest in Uber Technologies or even in its rival Lyft. Volkswagen brand chairman, Herbert Diess claims “in the old world our competition is Toyota, Hyundai, and the French carmakers; in the new world it is Tesla.” He states that Tesla has abilities where Volkswagen lacks, particularly in engineering. Tesla confirmed that they are raising $1.5 billion in debt in order to fund the expansion of its newest electric sedan, the Model 3 production. Japanese automakers Toyota Motor Corp. and Mazda Motor Corp. plan to spend $1.6 billion to set-up a joint-venture for an auto manufacturing plant in the U.S. This move, a continuation of a partnership that began in 2015 will create up to 4,000 jobs on both sides. Volvo Cars, a unit of Geely Holding Group, has agreed to share existing and future engine technology with the company parent. It will allow the two entities to rapidly develop next generation electrified vehicle technology.
General Motors’ R&D division is sending high-level engineers from Detroit to join Silicon Valley venture funds in Mountain View to listen dozens of pitches from different stage startups, as it hunts for relevant innovations and identify potential partnerships. Tier1 supplier, Bosch, has seen a surge in demand for advanced driver-assistance systems like radar systems and video sensors as automakers race to use more these features and automated functions in their models. Israeli autonomous car depth sensor developer, Oryx Vision, just announced a $50 million Series B funding round to help continue to develop and commercialize its advanced and innovative LiDAR technology.
LiDAR is set to be an important technology for the future of driverless car thanks to its ability to detect and map objects with extreme accuracy and flexibility.
About Harvest Management Partners LLC:
Harvest Management Partners LLC is a Silicon Valley based investment bank, specializing in company financial assessment, advisory services, plan of action development, strategic marketing, and worldwide negotiation of mergers and acquisitions. Since 2010, Harvest Management Partners has assisted over 40 technology clients within the software, semiconductor, security, IP and automotive electronics sectors. They are also the exclusive Silicon Valley advisors for Fiat Chrysler Automotive (NYSE: FCAU) and TE Connectivity (NYSE: TEL). With a combined history of 60+ years of direct operational experience and relationships with venture capitalists and C-Level executives worldwide, Harvest Management Partners is well positioned to provide a comprehensive set of unique services for their clients. For more information, visit www.harvestmp.com