Industry

Mobileye Global Inc. forecast fiscal 2023 revenue higher than analysts’ projections and delivered better-than-expected earnings in the fourth quarter. The company is benefiting from the automotive industry increasingly adopting sophisticated camera systems and sensors that assist in safe driving. Earlier this month, founder and Chief Executive Officer Amnon Shashua said Mobileye has a revenue pipeline
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Vehicle pre-ordering has emerged as a more satisfying option for consumers as they increasingly embraced online auto shopping in 2022. At the same time, car buyers were increasingly dissatisfied with their overall experience as they dealt with limited inventory and pandemic-driven supply shortages, two new industry studies have shown. Pre-ordered vehicles encompassed 1 in 5
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Lynkwell, an electric vehicle charging platform company that helps businesses and government entities create their own branded charging networks, raised $30 million in a new funding round. Lynkwell will use the funds to build out its EV charging infrastructure across North America, integrate technology from service partners into its charging networks. It will invest in
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Add vehicle owners to the growing list of potential cybersecurity threats against automakers in 2023. Early adopters of new digitized offerings from automakers will find ways to bypass premium features by manipulating their vehicles’ systems fraudulently, according to executives from Israeli cybersecurity firm Upstream. Speaking at a cybersecurity webinar Tuesday, the Upstream team said consumers
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LAS VEGAS — To whatever degree one believes in cars as smartphones on wheels, CES showed plenty of evidence that video games are gaining important traction in the vehicles of today — and casting visions of a gaming-rich automotive experience in coming years. Holoride began offering its in-cabin virtual reality gaming in the U.S. this
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Auto retail technology giant Reynolds and Reynolds is the lead investor in Sheeva.AI’s $9.25 million series A funding round announced Thursday. Sheeva.AI is building an in-car payments software system that works off a vehicle’s location. The Tysons Corner, Va., company says its geolocation technology will allow drivers to seamlessly pay for fueling, electric vehicle charging,
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LAS VEGAS — To whatever degree one believes in cars as smartphones on wheels, CES showed plenty of evidence that video games are gaining important traction in the vehicles of today — and casting visions of a gaming-rich automotive experience in coming years. Holoride began offering its in-cabin virtual reality gaming in the U.S. this
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Self-driving technology developer Outrider has raised $73 million in a new funding round. Outrider, which makes an autonomous system designed for truck yard operations, plans to use the funds from the series C round to add to its suite of autonomous and safety technology products. It will hire more workers domestically and abroad. The funding
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The investment division of Volvo Group has made an undisclosed investment in Canadian autonomous driving technology company Waabi Innovation. The investment by the company that manufactures Volvo and Mack heavy-duty trucks represents its view that the commercialization of autonomous driving will come in freight movement before passenger cars. “Volvo Group can add considerable strategic value
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Electric truck and charging station company Forum Mobility is teaming up with CBRE Investment Management on a $400 million joint venture. The partnership between Forum and CBRE’s investment arm to electrify the infrastructure of California’s coastal port communities and small independent truck operators is the latest deal involving a major real estate player and an
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A group of white hat hackers cracked customer and back-end operations of a variety of automakers, including BMW, Ferrari, Ford, Jaguar-Land Rover, Mercedes-Benz, Porsche and Rolls-Royce. The findings are a followup to the group’s discovery late last year of flaws in SiriusXM’s telematics service that created breaches in Honda, Hyundai, Nissan and Toyota models. The
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Marianne Simmons, a self-professed “Tesla fan girl,” bought her second EV from the company in September: a white, high-performance Model Y ringing in at more than $77,000. Then the company slashed prices on Thursday and she realized she could have bought the same car today at $13,000 less. “I feel like I got duped. I
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LAS VEGAS — Your commute starts with a greeting from your vehicle, which uses biometrics to identify you. The car’s artificial intelligence-powered personal assistant helps map out the day because it has been synced with your schedule. From there, the autonomous driving technology allows you to conduct a videoconference and then recommends lunch spots with
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The U.S. Department of Energy awarded $42 million in funding for 12 R&D projects aiming to develop advanced electric vehicle batteries. The funding will strengthen the domestic supply chain for EV batteries, the DOE said in a statement Wednesday. The projects selected are part of the DOE’s Advanced Research Projects Agency-Energy Electric Vehicles for American
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LAS VEGAS — The Ram Revolution pickup truck. The Sony-Honda Afeela. The BMW i Vision Dee concept. The vehicle unveilings made CES feel like a throwback to the halcyon days of auto shows. But the electric vehicles represented a small slice of the transportation technology showcased in and around the Las Vegas Convention Center last
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