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PR Newswire

BorgWarner Completes Acquisition of Delphi Technologies

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– Strengthens Electronics and Power Electronics Products, Capabilities and Scale

– Positions BorgWarner for Greater Growth as Electrified Propulsion Systems Gain Momentum

– Enhances Key Combustion, Commercial Vehicle and Aftermarket Businesses

AUBURN HILLS, Michigan, Oct. .3, 2020 — BorgWarner Inc. (NYSE: BWA) today announced it has completed its acquisition of Delphi Technologies. The combination of BorgWarner and Delphi Technologies is expected to strengthen BorgWarner’s electronics and power electronics products, capabilities and scale, creating a leader in electrified propulsion systems that BorgWarner believes is well-positioned to take advantage of future propulsion migration.

"We are pleased to complete our acquisition of Delphi Technologies," said Frédéric Lissalde, President and CEO, BorgWarner. "Through this combination, BorgWarner is  even better positioned with a more comprehensive portfolio of industry-leading propulsion products and systems across combustion, hybrid and electric vehicles.  We expect that the combination will also strengthen our commercial vehicle and aftermarket businesses. We welcome Delphi Technologies’ colleagues around the world to the BorgWarner team and are excited about the opportunities we have together to address market trends towards electrification. I am proud of our global workforce, including our integration planning teams, for driving the business forward as we managed through the pandemic and laying a strong foundation for a seamless integration. I have great confidence that we will realize what we believe are significant benefits of this combination for our shareholders, customers and suppliers."

Compelling Strategic and Financial Benefits: 

Bringing BorgWarner and Delphi Technologies together is expected to:

  • Strengthen BorgWarner’s electronics and power electronics products, capabilities and scale, creating a leader in electrified propulsion systems that BorgWarner believes is well-positioned to take advantage of future propulsion migration. Delphi Technologies brings industry leading power electronics technology and talent, with an established production, supply and customer base. The combined company will offer customers a suite of integrated and standalone offerings of power electronics products (including high voltage inverters, converters, on-board chargers and battery management systems) and capabilities (including software, systems integration and thermal management).
  • Enhance BorgWarner’s combustion, commercial vehicle and aftermarket businesses. Delphi Technologies’ breadth of combustion propulsion products complements BorgWarner’s innovative portfolio, which is focused on clean technologies to increase efficiency and performance of modern combustion vehicles. Adding Delphi Technologies’ commercial vehicle and aftermarket business results in more balance across light vehicles, commercial vehicles and the aftermarket.

    Global aftermarket customers will continue to benefit from an extensive portfolio of BorgWarner and Delphi Technologies OE-quality aftermarket parts, services, diagnostic tools and test equipment. As a brand of BorgWarner, Delphi Technologies Aftermarket will maintain its brand identity, and customers across the world will be able to rely on their trusted contacts for sales and customer service support.

The completion of the transaction follows approval by Delphi Technologies’ shareholders, receipt of required regulatory approvals, the satisfaction of certain conditions relating to indebtedness of Delphi Technologies, and the satisfaction or waiver of customary closing conditions. In connection with the close of this transaction, Delphi Technologies common stock will cease to be traded on the New York Stock Exchange.

Conference Call and Presentation Materials

At 9:30 a.m. ET on Thursday, October 8, 2020, a brief conference call with additional details on the acquisition will be webcast at: http://www.borgwarner.com/en/Investors/default.aspx.  Additionally, an acquisition presentation will be available at http://www.borgwarner.com/en/Investors/default.aspx.

About BorgWarner

BorgWarner Inc. (NYSE: BWA) is a global product leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles. Building on its original equipment expertise, BorgWarner also brings market leading product and service solutions to the global aftermarket. With manufacturing and technical facilities in 99 locations in 24 countries, the company employs approximately 48,000 worldwide. For more information, please visit borgwarner.com.

Statements in this news release (this "Release") may contain forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act that are based on management’s current outlook, expectations, estimates and projections. Words such as "anticipates," "believes," "continues," "could," "designed," "effect," "estimates," "evaluates," "expects," "forecasts," "goal," "guidance," "initiative," "intends," "may," "outlook," "plans," "potential," "predicts," "project," "pursue," "seek," "should," "target," "when," "will," "would," and variations of such words and similar expressions are intended to identify such forward-looking statements. Further, all statements, other than statements of historical fact contained or incorporated by reference in this Release that we expect or anticipate will or may occur in the future regarding our financial position, business strategy and measures to implement that strategy, including changes to operations, competitive strengths, goals, expansion and growth of our business and operations, plans, references to future success and other such matters, are forward-looking statements. Accounting estimates, such as those described under the heading "Critical Accounting Policies" in Item 7 of our most recently-filed Annual Report on Form 10-K ("Form 10-K"), are inherently forward-looking.  All forward-looking statements are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.  Forward-looking statements are not guarantees of performance, and the Company’s actual results may differ materially from those expressed, projected or implied in or by the forward-looking statements.

You should not place undue reliance on these forward-looking statements, which speak only as of the date of this Release. Forward-looking statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed, projected or implied in or by the forward-looking statements.  These risks and uncertainties, among others, include: failure to realize the expected benefits of the acquisition of Delphi Technologies; failure to promptly and effectively integrate Delphi Technologies’ businesses; the potential for unknown or inestimable liabilities relating to the acquired business; our dependence on automotive and truck production, both of which are highly cyclical; our reliance on major OEM customers; commodities availability and pricing; supply disruptions; fluctuations in interest rates and foreign currency exchange rates; availability of credit; our dependence on key management; our dependence on information systems; the uncertainty of the global economic environment; the outcome of existing or any future legal proceedings, including litigation with respect to various claims; future changes in laws and regulations, including, by way of example, tariffs, in the countries in which we operate; and other risks noted in reports that we file with the Securities and Exchange Commission, including Item 1A, "Risk Factors" in our most recently-filed Form 10-K. We do not undertake any obligation to update or announce publicly any updates to or revisions to any of the forward-looking statements in this presentation to reflect any change in our expectations or any change in events, conditions, circumstances, or assumptions underlying the statements.

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PR Newswire

Subaru Selects Veoneer to Manufacture New Generation Eyesight

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STOCKHOLM, Oct. 2, 2020 — The automotive technology company Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), has partnered with Subaru to introduce the new generation EyeSight on the all-new Subaru Levorg.  Veoneer will begin producing systems for the Japan market starting later this year.     

Veoneer was selected by Subaru due to its experience in stereo vision systems and opto-mechanical design capabilities. This business is included in Veoneer’s previously announced backlog.  The new generation EyeSight hardware is a variant of Veoneer’s 4th generation stereo vision system, re-engineered to meet Subaru’s original specification. 

Subaru first introduced EyeSight in the U.S. in 2012, which has become a leading system in the automotive industry. The new generation EyeSight has two cameras mounted on a wide-baseline design allowing for better detection of pedestrians and vehicles in intersections and on curved roadways.   The system doubles the field-of-view and substantially increases the resolution over previous generations.  The system also has enhanced optical robustness and mechanical rigidity which improves detection performance while retaining a compact design package.  Integrated in the system package is a Xilinx Zynq XA processor hosting algorithms developed by Subaru.  

 "We are proud to have partnered with Subaru on the next generation EyeSight system for the all-new Levorg," says Jan Carlson, Veoneer Chairman, President and CEO. "Veoneer is leading the industry in stereo vision systems and is honored to custom design a version that is at the heart of Subaru’s ADAS solutions."

For more information please contact:

Thomas Jönsson
EVP Communications & IR
tel +46 (0)8 527 762 27

Ray Pekar
VP Investor Relations
tel +1 (248) 794-4537

Veoneer, Inc. is a worldwide leader in automotive technology. Our purpose is to create trust in mobility. We design, manufacture and sell state-of-the-art software, hardware and systems for occupant protection, advanced driving assistance systems, and collaborative and automated driving to OEMs globally. Headquartered in Stockholm, Sweden, Veoneer has 7,100 employees in 13 countries. In 2019, sales amounted to $1.9 billion. The Company is building on a heritage of close to 70 years of automotive safety development. In 2018, Veoneer became an independent, publicly traded company listed on the New York Stock Exchange (NYSE: VNE) and on the Nasdaq Stockholm (SSE: VNE SDB).

Safe Harbor Statement: This release contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Veoneer, Inc. or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations, various assumptions and/or data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements, including general economic conditions and fluctuations in the global automotive market. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any forward-looking statements in light of new information or future events, except as required by law.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/veoneer/r/subaru-selects-veoneer-to-manufacture-new-generation-eyesight,c3208391

 

PR Newswire

Fisker Inc. Appoints Bill McDermott To Board Of Directors

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  • Bill McDermott, president and CEO, ServiceNow, joins expansive Fisker Inc. Board ahead of completion of merger with Apollo affiliated Spartan Energy Acquisition Corporation (NYSE: SPAQ)
  • McDermott brings extensive global leadership experience across transformative enterprise software, cloud platform and modern digital workflow technology sectors; will provide valuable input as Fisker Inc. creates a digital-first ownership experience
  • Strong track record of Environmental, Social and Governance (ESG) leadership

LOS ANGELES, Sept. 29, 2020 — Fisker Inc. ("Fisker") – developer of the world’s most emotionally desirable, eco-friendly electric vehicles – today announced an important new addition to its board of directors. Bill McDermott, president and CEO of ServiceNow (NYSE:NOW) – the leading digital workflow company making work, work better for people – becomes the seventh member of the Fisker Inc. Board, which has been shaped in anticipation of the completion of its merger with Spartan Energy Acquisition Corporation (NYSE: SPAQ) ("Spartan"), a special purpose acquisition company sponsored by an affiliate of Apollo Global Management, Inc. (NYSE: APO) ("Apollo"). The board is comprised of seven members: two executives from Fisker, four external directors and a Spartan appointee.

Commenting on this latest addition to the board, Henrik Fisker, chairman and chief executive officer of Fisker Inc. said: "Based on my years of experience in electrification, I wanted to assemble a board that can help deliver our disruptive business model and grow the company into a global segment leader. Our board members bring their extensive experience in ESG, combined with the insights needed to help guide the growth of our company. Bill has unparalleled international experience and an incredible track record as a leader in software systems and software-as-a-service (SaaS). He will be extremely valuable as we develop Fisker Inc. to be the world’s first digital car company, especially as we build our digital app and e-mobility as a service (EMAAS) capabilities."

"Visionary cars demand a visionary 21st century car ownership experience," McDermott said. "Owning a Fisker car will set a new standard in workflow-enabled, seamless, direct-to-consumer digital experiences. I am thrilled to join the board of Fisker Inc. and help Henrik and his team deliver an amazing end-to-end digital-first car ownership experience as they pursue their dream of revolutionizing the automotive industry and creating a clean future for everyone."

The merger between Fisker and Spartan is anticipated to be completed later this year and will result in shares of Fisker’s Class A Common Stock trading on the New York Stock Exchange as a publicly listed company.

Fisker Inc. Board of Directors:

  • Henrik Fisker, founder, chairman and CEO of Fisker
  • Dr. Geeta Gupta-Fisker, co-founder and CFO of Fisker
  • Wendy Greuel, former controller and councilmember for the City of Los Angeles
  • Mark Hickson, executive vice president corporate development, strategy, quality and integration for NextEra Energy, Inc.
  • Bill McDermott, president and CEO, ServiceNow
  • Rod Randall, co-founder of Vesbridge Partners, executive partner of Siris Capital, board director of Stratus Technologies and Mavenir, chairman of the board of Maglev Aero
  • Nadine Watt, CEO of Watt Companies and chair of the Los Angeles Business Council

Full biographies for board members are available here: Fisker Inc. Board of Directors 

For more information, or for interview inquiries, contact Fisker@GoDRIVEN360.com.

About Fisker Inc. 
California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world’s most sustainable vehicles. To learn more and to reserve the all-electric Fisker Ocean, visit www.FiskerInc.com.

Forward Looking Statements
The information in this press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this presentation, regarding Spartan’s proposed acquisition of Fisker, Spartan’s ability to consummate the transaction, the benefits of the transaction and the combined company’s future financial performance, as well as the combined company’s strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Spartan and Fisker disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Spartan and Fisker caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of either Spartan or Fisker. In addition, Spartan cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the business combination or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that may be instituted against Spartan or Fisker following announcement of the transactions; (iii) the inability to complete the business combination due to the failure to obtain approval of the shareholders of Spartan, or other conditions to closing in the transaction agreement; (iv) the risk that the proposed business combination disrupts Spartan’s or Fisker’s current plans and operations as a result of the announcement of the transactions; (v) Fisker’s ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of Fisker to grow and manage growth profitably following the business combination; (vi) costs related to the business combination; (vii) changes in applicable laws or regulations; and (viii) the possibility that Fisker may be adversely affected by other economic, business, and/or competitive factors. Should one or more of the risks or uncertainties described in this press release, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in Spartan’s periodic filings with the Securities and Exchange Commission (the "SEC"), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and other SEC filings. Spartan’s SEC filings are available publicly on the SEC’s website at www.sec.gov.

Important Information for Investors and Shareholders
In connection with the proposed business combination, Spartan Energy Acquisition Corp. will file a proxy statement with the SEC. Additionally, Spartan Energy Acquisition Corp. will file other relevant materials with the SEC in connection with the business combination. Copies may be obtained free of charge at the SEC’s web site at www.sec.gov. Security holders of Spartan Energy Acquisition Corp. are urged to read the proxy statement and the other relevant materials when they become available before making any voting decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.

Participants in the Solicitation
Spartan Energy Acquisition Corp. and its directors and officers may be deemed participants in the solicitation of proxies of Spartan’s shareholders in connection with the proposed business combination. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of Spartan’s executive officers and directors in the solicitation by reading Spartan’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and the proxy statement and other relevant materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of Spartan’s participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement relating to the business combination when it becomes available.

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PR Newswire

Fisker Inc. To Establish New Technology Center In San Francisco

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 – ‘Source Code’ office will support design and engineering of software systems to support the Fisker Ocean SUV and future portfolio expansion products

 – Downtown San Francisco location configured to enable employees to work flexibly between remote and office bases

LOS ANGELES, Sept. 24, 2020 — Fisker Inc. – designer and manufacturer of the world’s most emotion-stirring, eco-friendly electric vehicles and advanced mobility solutions – today announced details surrounding its first dedicated engineering and technology center, to be located in the Mission District of San Francisco. This facility will be the focal point and development center for the company’s software and vehicle electronics, including both in-car and Fisker data center elements.

"With the development of our first vehicle progressing at speed and the company scaling accordingly, we are now establishing the facilities that can support our expansion," said Henrik Fisker, chairman and CEO of Fisker Inc. "As a company born in California, we wanted to draw on all the diversity, creativity and technical capability this state is famous for. We’re calling the San Francisco office ‘Source Code’ – which also marks the start of a naming convention for all our facilities going forward."

Fisker Inc.’s recently appointed Chief Technology Officer, Burkhard Huhnke added: "The design and development of the software and vehicle interfaces will be an important differentiator for all our products, and our new facility in San Francisco will be central to that process. Having a presence in the Bay Area gives us access to the right talent at the right time."

Fisker is planning a portfolio expansion to a four-vehicle range by 2025. In addition to the Ocean SUV, the four-vehicle lineup will include a super-sports sedan based on the EMotion concept, an extreme sports crossover and a new segment-changing lifestyle pickup truck. Each vehicle will be delivered utilizing durability-tested platforms, battery packs and component systems from industry-leading technology suppliers and automotive firms, with specific Fisker engineering input.

Fisker’s Design and Engineering teams are developing Fisker specific IP and customer features, consistent with the Fisker brand. In creating its FF-PAD (Fisker Flexible – Platform Adaptive Design) development process, the company has enabled itself to be platform agnostic and intends to make the final selection on the platform for the Ocean shortly, consistent with the intended start of production, projected for Q4 2022.

For more information, or for interview inquiries, contact Fisker@GoDRIVEN360.com.

About Fisker Inc. 
California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world’s most sustainable vehicles. To learn more, visit www.FiskerInc.com – and enjoy exclusive content across Fisker’s social media channels: Facebook, Instagram, Twitter, YouTube and LinkedIn. Download the revolutionary new Fisker mobile app from the App Store or Google Play store.

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PR Newswire

AUTOCRYPT Announces Official Partnership with NXP for Integrated V2X Security Solutions

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SEOUL, South Korea, Sept. 24, 2020 — AUTOCRYPT Co., Ltd., a leading V2X and autonomous vehicle security solutions provider, announced its partnership with NXP Semiconductors in several automotive security related applications beginning with secure V2X.

As an official partner of NXP, support for AutoCrypt V2X will be streamlined across NXP’s V2X-related offerings, including the SAF5X00 modem chipsets and the SXF1800 Secure Element IC for V2X Communication, as well as the i.MX 8 Series Application Processor. By integrating AUTOCRYPT’s IEEE 1609.2-compliant V2X security solution onto NXP’s platform, secure exchange of V2X messages as well as performance optimization can be achieved more effectively.

Regarding the partnership, AUTOCRYPT CEO and co-Founder Daniel ES Kim stated, "As an increasing number of vehicles and infrastructure rely on connectivity, it is tantamount that processors have the highest ability to secure V2X communication. As a major player in the automotive market, NXP values security as much as AUTOCRYPT. We are looking forward to joint solution development to continue to progress in our target to keep connected cars secure."

AUTOCRYPT’s offerings across V2X, V2D, and V2G security are a natural match for NXP’s expansive automotive portfolio, paving the way for further joint solution development as global interoperability continues to become a crucial factor for enabling safe transportation and mobility.

AUTOCRYPT is the leading player in autonomous vehicle security. Recognized by TU-Automotive as the Best Auto Cybersecurity Product/Solution of 2019, AUTOCRYPT continues to pave the way in transportation and mobility security through a multi-layered, holistic approach. Through security solutions for V2X/C-V2X, V2G (including Plug & Charge security), in-vehicle security, and Fleet Management, AUTOCRYPT ensures that security is prioritized before autonomous vehicles hit the road.

Visit www.autocrypt.io for more information, and contact marketing@autocrypt.io for partnership inquiries.

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PR Newswire

Seoul Semiconductor’s WICOP Bi-Color LEDs Are Shining in the Headlamp of Audi A4 Model Year 2020

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ANSAN, South Korea, Sept. 22, 2020 — Seoul Semiconductor Co., Ltd. ("Seoul") (KOSDAQ 046890), a leading global innovator of LED products and technology, announced that it has supplied WICOP Bi-color (2 colors in one package) LED products for the daytime running lights and front turn signals of the 2020 Audi A4 (B9 facelift) headlamp.

2020 Audi A4 with Seoul Semiconductor’s WICOP Bi-Color LEDs (Source: Audi)
2020 Audi A4 with Seoul Semiconductor’s WICOP Bi-Color LEDs (Source: Audi)

This is the first example of Seoul Semiconductor’s WICOP product being mounted on an Audi headlamp. WICOP Bi-color LED is a core patented technology of Seoul Semiconductor that realizes both white and yellow in one package. It is designed to directly mount the LED chip on the board without additional package.

"Due to the narrow space between the light emitting surfaces of the bi-color LED, it is technically beneficial to light up one cavity with yellow for turn and white for DRL. This advantage opens up the possibility of slimmer headlamp designs," said Dr. Michael Hamm, the head of development headlamps of Audi.

In the meantime Seoul Semiconductor has already developed the more compact WICOP Gen2 mini bi-color emitter while including the advantages of the existing WICOP in combination with even slimmer footprint.

"The [WICOP Gen2] family has been developed as a light source suitable for automobile main functions, daytime running lights and turn indicators. Actually we are developing [WICOP UHL (Ultra High Luminance)] with excellent high luminance and heat dissipation performance for the next generation of slim headlamps. Accordingly, European headlamp customer inquiries for our innovative products have increased and we have been engaged with customers in more than 20 headlamp projects for next generation cars," said In Heum Park, vice president of automotive division of Seoul Semiconductor.

WICOP technology is widely applied not only to vehicle lighting, but also to high-brightness TVs and LCD backlights for mobile phones, flash for smartphone cameras, and high-power general lighting, as it has excellent thermal conductivity and is easy to configure light, thin and compact lenses.

About Seoul Semiconductor

Seoul Semiconductor is the world’s second-largest global LED manufacturer, a ranking excluding the captive market, and has more than 14,000 patents. Based on a differentiated product portfolio, Seoul offers a wide range of technologies, and mass produces innovative LED products for indoor and outdoor lighting, automotive, IT products, such as mobile phone, computer displays, and other applications, as well as the UV area. The company’s world’s first development and mass production products are becoming LED industry standard and leading the global market with a package-free LED, WICOP; a high-voltage AC-driven LED, Acrich; an LED with 10X the output of a conventional LED, nPola; a cutting edge ultraviolet clean technology LED, Violeds; an all direction light emitting technology, filament LED; a natural spectrum LED, SunLike; and more. For more information, please visit www.seoulsemicon.com/en.

Contacts:
Seoul Semiconductor Co., Ltd.
Jeonghee Kim
Email: jeonghee.kim@seoulsemicon.com

 

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PR Newswire

iPoint enters strategic partnership with Toyota Tsusho Systems

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Sustainable market presence for iPoint’s software in Japan

REUTLINGEN, Germany, Sept. 22, 2020 — iPoint-systems, a leading provider of software and services for environmental and social product compliance, and sustainability, today announced a new partnership with the well-established Japanese IT trading company Toyota Tsusho Systems (TTS). With this partnership, iPoint further expands its presence in the Japanese market. In addition to three long-standing, strong partners in Japan, NTT Data Global Services (formerly NTT DATA Enterprise Application Services), MSC Software Japan and JEMAI, iPoint can now also benefit from the TTS network in the Japanese automotive industry to drive the transition towards a Digital Circular Economy.

The strategic partnership between iPoint and TTS draws upon the strengths of each partner and offers mutual benefits. While the partnership will open new market segments and strengthen iPoint’s position and brand recognition in Japan market, TTS can enhance its wide range of software offerings with iPoint’s leading cross-industry solutions for material compliance, sustainability, and the circular economy. With a large network in Japan and ten locations worldwide, TTS is an associated company of Toyota Tsusho, the trading arm of the Toyota Group developing and providing IT solutions to advance digital transformation around the world.

"The automotive industry is said to be undergoing a once-in-a-century revolution. In this sector, technological innovations such as big data, artificial intelligence, and blockchain are accelerating the digital transformation and changing society and industrial structures in unprecedented ways," says Mitsuhiro Tsubakimoto, CEO of TTS. "We are a technology group that creates proactive IT. For this reason, we are excited to expand our product offerings in the field of compliance and sustainability through iPoint’s state of the art software solutions."

"iPoint is thrilled to be working with such a well-established partner experienced in introducing innovative IT solutions to the Japanese market," states Joerg Walden, founder and CEO of iPoint-systems. "When it comes to compliance and sustainability, the Japanese economy, especially the automotive industry, has enormous growth potential. As one of the largest markets globally, Japan’s expanding commitment to become sustainable, together with TTS’s expertise, strong network, and on-site capabilities, is a powerful combination which allows us to flexibly respond to the growing demand for our solutions in Japan and drive the revenue of our Japanese and overall business over the coming years," Walden adds. "iPoint will collaborate with TTS not only in Japan, but also in the global market, as together we share and can reach our global clientele in diversified industries."

Press contact:

Dr. Katie Boehme
Head of Corporate Communications & Sustainability
iPoint-systems gmbh
+49.7121.14489-60
circular@ipoint-systems.de

About iPoint

iPoint is a leading provider of software and services for environmental and social product compliance, process compliance, and sustainability with a customer base of more than 55,000 companies. Since its founding in 2001, iPoint has been constantly expanding its portfolio to realize its vision of building an integrated digital platform for the Circular Economy. Further information: www.ipoint-systems.com.

About TTS

Toyota Tsusho Systems Corporation, a member of the Toyota Tsusho Group and is established in 1994, constitutes a team of professionals in the field of ICT. By TTS’s philosophy of living and prospering together with people, society and the planet, TTS accurately identify and provide the services and solutions that customers need, and thereby contribute to the success of their businesses. Further information: www.ttsystems.com.

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PR Newswire

Bitauto Holdings Limited to Hold Extraordinary General Meeting of Shareholders

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BEIJING, Sept. 19, 2020 — Bitauto Holdings Limited ("Bitauto" or the "Company") (NYSE: BITA), a leading provider of internet content & marketing services, and transaction services for China’s automotive industry, today announced it has called an extraordinary general meeting of shareholders (the "EGM"), to be held on October 23, 2020 at 10:00 a.m. (China Standard Time), at JingAn Kerry Centre, Tower II, 46th Floor, 1539 Nanjing West Road, Shanghai 200040, China, to consider and vote on, among other things, the proposal to authorize and approve the previously announced agreement and plan of merger (the "Merger Agreement") , dated June 12, 2020, among the Company, Yiche Holding Limited ("Parent"), and Yiche Mergersub Limited, a wholly owned Subsidiary of Parent ("Merger Sub"), the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands (the "Plan of Merger") and the transactions contemplated thereby, including the merger.

According to the Merger Agreement and the Plan of Merger, at the effective time of the merger, Merger Sub will merge with and into the Company and cease to exist, with the Company being the surviving company and becoming a wholly owned subsidiary of Parent. If consummated, the merger would result in the Company becoming a privately held company, and its American depositary shares (each representing one Class A ordinary share, par value US$0.00004 per share) (the "ADSs") would no longer be listed or traded on the New York Stock Exchange or any other stock exchange, and the Company’s ADS program would be terminated. In addition, the Company’s ADSs and Class A ordinary shares represented by the ADSs would cease to be registered under Section 12 of the Securities Exchange Act of 1934 following the consummation of the merger.

The Company’s board of directors (the "Board"), acting upon the unanimous recommendation of a committee of independent directors established by the Board, authorized and approved the execution, delivery and performance of the Merger Agreement, the Plan of Merger and the consummation of the transactions contemplated thereby, including the merger, and recommends that the Company’s shareholders and ADS holders vote FOR, among other things, the proposal to authorize and approve the execution, delivery and performance of the Merger Agreement, the Plan of Merger and the consummation of the transactions contemplated thereby, including the merger.

Shareholders of record at the close of business in the Cayman Islands on October 9, 2020 will be entitled to attend and vote at the EGM and any adjournment thereof. ADS holders as of the close of business in New York City on September 21, 2020 will be entitled to instruct Citibank, N.A., the ADS depositary, to vote the Class A ordinary shares represented by the ADSs at the EGM.

Additional information regarding the EGM and the Merger Agreement can be found in the transaction statement on Schedule 13E-3 and the definitive proxy statement attached as Exhibit (a)-(1) thereto, as amended, filed with the U.S. Securities and Exchange Commission (the "SEC"), which can be obtained, along with other filings containing information about the Company, the proposed merger and related matters, without charge, from the SEC’s website www.sec.gov. Requests for additional copies of the definitive proxy statement should be directed to Innisfree M&A Incorporated, the Company’s proxy solicitor, at +1-888-750-5834 (toll free in the United States) or +1-412-232-3651 (outside the United States).

SHAREHOLDERS AND ADS HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THESE MATERIALS AND OTHER MATERIALS FILED WITH OR FURNISHED TO THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE PROPOSED MERGER AND RELATED MATTERS.

The Company and certain of its directors and executive officers may, under SEC rules, be deemed to be "participants" in the solicitation of proxies from the shareholders with respect to the proposed Merger. Information regarding the persons who may be considered "participants" in the solicitation of proxies is set forth in the Schedule 13E-3 transaction statement relating to the proposed Merger and the definitive proxy statement attached thereto. Further information regarding persons who may be deemed participants, including any direct or indirect interests they may have, is also set forth in the definitive proxy statement.

This announcement is for information purposes only and does not constitute an offer to purchase or the solicitation of an offer to sell any securities or a solicitation of any proxy, vote or approval with respect to the proposed transaction or otherwise, nor shall it be a substitute for any proxy statement or other filings that have been or will be made with the SEC.

Safe Harbor Statement

This press release contains statements that express the Company’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (the "Act"). These forward-looking statements can be identified by terminology such as "if," "will," "expected" and similar statements. Forward-looking statements involve inherent risks, uncertainties and assumptions. Risks, uncertainties and assumptions include: uncertainties as to how the Company’s shareholders will vote at the meeting of shareholders; the possibility that competing offers will be made; the possibility that financing may not be available; the possibility that various closing conditions for the transaction may not be satisfied or waived; and other risks and uncertainties discussed in documents filed with the SEC by the Company, as well as the Schedule 13E-3 transaction statement and the proxy statement filed by the Company. These forward-looking statements reflect the Company’s expectations as of the date of this press release. You should not rely upon these forward-looking statements as predictions of future events. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Bitauto Holdings Limited

Bitauto Holdings Limited (NYSE: BITA) is a leading provider of internet content & marketing services, and transaction services for China’s automotive industry. Bitauto’s business consists of three segments: advertising and subscription business, transaction services business and digital marketing solutions business.

Bitauto’s advertising and subscription business provides a variety of advertising services to automakers through the bitauto.com website and corresponding mobile apps which provide consumers with up-to-date automobile pricing and promotional information, specifications, reviews and consumer feedback. Bitauto also provides transaction-focused online advertisements and services for promotional activities to its business partners, including automakers, automobile dealers, auto finance partners and insurance companies. Bitauto offers subscription services via its SaaS platform, which provides web-based and mobile-based integrated digital marketing solutions to new car automobile dealers in China. The SaaS platform enables automobile dealer subscribers to create their own online showrooms, list pricing and promotional information, provide automobile dealer contact information, place advertisements and manage customer relationships to help them reach a broad set of purchase-minded customers and effectively market their automobiles to consumers online.

Bitauto’s transaction services business is primarily conducted by its controlled subsidiary, Yixin Group Limited (SEHK: 2858), a leading online automobile finance transaction platform in China, which provides transaction platform services as well as self-operated financing services.

Bitauto’s digital marketing solutions business provides automakers with one-stop digital marketing solutions, including website creation and maintenance, online public relations, online marketing campaigns, advertising agent services, big data applications and digital image creation.

For more information, please visit ir.bitauto.com.

For investor and media inquiries, please contact:

Suki Li
Bitauto Holdings Limited
Phone: +86-10-6849-2145
ir@bitauto.com

Philip Lisio
Foote Group
Phone: +86-10-8429-9544
bitauto@thefootegroup.com

 

Related Links :

http://ir.bitauto.com

PR Newswire

Study by Dolphin Technologies reveals a quarter of all car accidents happen in the first three minutes of driving

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Dolphin Technologies has analyzed the behavior of 40,000 drivers over a period of two years to investigate the causes of traffic accidents. One result is particularly interesting: 25 percent of all accidents happen within the first three minutes of driving. 

VIENNA, Sept. 17, 2020 — The Austrian telematics provider Dolphin Technologies specializes in leveraging technology to prevent road traffic accidents. Drivers who use Dolphin’s system receive incentives, such as a discount on their insurance premium, for engaging in low-risk driving behavior like not using a phone while driving, and respecting speed limits.

 

Trip duration and relative risk of accidents
Trip duration and relative risk of accidents

 

"A self-induced accident is often the result of wrong decisions or lack of information," says Harald Trautsch, CEO of Dolphin. "One drives tired, drunk, or uses the phone at the wheel. Or one doesn’t know that extreme weather conditions such as black ice prevail on the route."

In a recent study based on anonymized data obtained through Dolphin’s system, the telematics provider analyzed 3.2 million car trips by 40,000 people in 2018 and 2019, in which a total of 1,986 accidents occurred. In particular, the study examined the duration and correlation between the length of car journeys and the probability of an accident. 

The data revealed that most trips (87%) last less than 30 minutes while only 1% of all trips last longer than one hour. The lowest risk of accident in relative terms was for trips lasting between 10 and 20 minutes. After that, the risk rises disproportionately. If you are in the car for more than 40 minutes, you already have two and a half times the risk than if you are driving for less than 20 minutes.

However, a closer look at short trips – here defined as trips lasting less than 10 minutes – revealed some very interesting details. Notably, 25 percent of all accidents occurred during the first 3 minutes of driving, and another 14 percent within the first 6 minutes. "This study shows that if we could encourage people to give up their cars for short distances, up to 40 percent of all accidents could be avoided," says Katharina Sallinger, Chief Data Scientist at Dolphin and head of the study. "We want to support people in being on the road safely. Knowing which behavior leads to accidents enables us to make targeted recommendations, and thus to minimize risks." The expert’s tips:

  • Avoid short trips if possible and cycle or walk
  • For longer journeys, plan and keep regular breaks
  • Do not use your cell phone while driving. It causes 26 percent of accidents

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Contact us: Dolphin Technologies GmbH, Lisa Eisenberger, press@dolph.in, Tel. +43 664 3657446

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At ‘GAC Tech Day’, hydrogen fuel-cell technology takes the limelight, highlights GAC’s scientific depth and technical capabilities

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GUANGZHOU, China, Aug. 31, 2020 — Recently at the GAC Tech Day 2020, GAC Group unveiled its latest scientific and technological achievements, including two major platform technologies and three futuristic technologies. Powering current innovations at GAC Group are the Global Platform Modular Architecture (GPMA) that incorporates traditional fuel power as well as the GAC Electric Platform (GEP) 2.0. Building on these platforms, GAC Group announced three technological breakthroughs: the ADiGO 3.0 intelligent driving interconnected ecosystem, hydrogen fuel-cell vehicle Aion LX Fuel Cell and 3DG graphene preparation technology, these leading technologies will enable GAC Group to achieve much more in the near future.

Aion LX Fuel Cell
Aion LX Fuel Cell

At the event, GAC unveiled its first hydrogen fuel-cell passenger car, the Aion LX Fuel Cell, attracting major industry observers and media due key benefits such as its fast charging times, long battery life and zero pollution. Industry experts have lauded the advent of hydrogen fuel-cell vehicles, as it is expected to become a popular environmentally friendly solution for vehicles with zero carbon emissions.

GAC Group has prioritized climate conversation as a strategy and are focusing on hydrogen-based clean energy, known as the "ultimate energy" of the 21st century. Hydrogen fuel-cell vehicles have become a forward-looking technology with promising development prospects.

GAC Group has achieved an industry-leading advantage in hydrogen fuel-cell technology through the launch of the Aion LX Fuel Cell. The hydrogen-based vehicle developed on the GEP 2.0 platform is equipped with a hydrogen fuel-cell system independently developed also by GAC Group.

GAC’s hydrogen fuel-cell vehicle has shown to solve several problems of current renewable energy vehicles. Firstly, it only takes 3-5 minutes to recharge each time, which is shorter than the charging time of most electric vehicles. Secondly, the NEDC operating range of this car exceeds 650KM, reaching international benchmarks. Thirdly, the car also solves the problem of ignition and operations in low-temperature weather: at minus 30°C, a one-button cold start can be enabled sans an external heat source without affecting the cruising range. Most importantly, its emissions are only pure water, and the filter element carried can filter 99% of the inhalable particulate matter, not only reducing pollution but also purifying the surrounding air.

The Aion LX Fuel Cell has also been comprehensively upgraded to exceed safety expectations. Built upon the five-star safety of the original model Aion LX, it has also passed difficult safety tests such as 32km/h side column collision and 80km/h rear collision.

Riding on the wave of technology and digitization, GAC Group has taken the lead in laying out a strategic industry-wide roadmap for technological innovation. GAC MOTOR has developed rapidly in overseas markets in recent years. Supported by GAC Group’s strong scientific and technological backing, the Group remains committed to bring a high-tech driving experience to people all over the world and continue to create value for a lifestyle of mobility for humankind.

Photo – https://photos.prnasia.com/prnh/20200831/2903236-1?lang=0