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PR Newswire

Bitauto Announces Shareholders’ Approval of Merger Agreement

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BEIJING, Oct. 23, 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 that at an extraordinary general meeting held today, the Company’s shareholders voted in favor of (i) the proposal to authorize and approve the previously announced agreement and plan of merger, dated as of June 12, 2020 (the "Merger Agreement"), by the Company, Yiche Holding Limited ("Parent"), and Yiche Mergersub Limited ("Merger Sub"), pursuant to which Merger Sub will merge with and into the Company, with the Company continuing as the surviving company and becoming a wholly owned subsidiary of the Parent (the "Merger"), (ii) the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands (the "Plan of Merger"), and (iii) the consummation of the transactions contemplated by the Merger Agreement and the Plan of Merger, including the Merger.

Approximately 88.9% of the Company’s total ordinary shares outstanding as of the close of business in the Cayman Islands on the share record date of October 9, 2020 voted in person or by proxy at the extraordinary general meeting. Each shareholder has one vote for each ordinary share. Of the ordinary shares voted at the meeting, approximately 99.9% voted in favor of the Merger Agreement, the Plan of Merger and the transactions contemplated thereby, including the Merger.

Completion of the Merger is subject to the satisfaction or waiver of the closing conditions set forth in the Merger Agreement. The Company will work with the other parties to the Merger Agreement towards satisfying the closing conditions and complete the Merger in a timely manner. If and when completed, the Company will become a private company and its American depositary shares will no longer be listed or traded on any stock exchange.

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.  

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.

For more information, 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

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PR Newswire

CNN and Hyundai Motor Company embark on a new campaign exploring innovations in transport and mobility

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HONG KONG, Oct. 23, 2020 — CNN International Commercial (CNNIC) and Hyundai Motor Company (Hyundai) are partnering on a cross-platform campaign that explores how innovation will change the way we will live in the future. In this exclusive global partnership, CNN will deliver a creative mix of advertising, branded content and sponsorship solutions to bring to life Hyundai’s vision on human-centred mobility through stories that will engage and inspire CNN global audiences. CNNIC will power this campaign with the latest data technology and targeting tools to reach Hyundai’s core audiences including electric car owners and young families with children.

CNN and Hyundai Motor Company embark on a new campaign exploring innovations in transport and mobility
CNN and Hyundai Motor Company embark on a new campaign exploring innovations in transport and mobility

The campaign’s branded content component includes three films produced by CNNIC’s global brand studio Create that will convey Hyundai’s messages around the new paradigm of electric. With a cinematic documentary approach, the films discover new possibilities in life and follow individuals’ journeys with curiosity and exploration in mind.

The partnership also includes Hyundai’s exclusive sponsorship of two editorial initiatives ‘Saved by The Future’ and ‘Time Transformed’. Launching across CNN International TV, digital and social platforms, the series explores transport and mobility innovations set to transform our cities, economies and societies in the next ten years. ‘Saved by The Future’ is hosted by TV presenter Nicki Shields and airs from October to December. ‘Time Transformed’ is a special series where CNN meets thought leaders of renewable energy, green mobility, intelligent design, business and urban planning.

"Building on CNN’s long-held belief in and coverage of the power of technology and innovation, we are delighted to embark on this journey of hope, inspiration and ingenuity together with Hyundai Motor Company. Our premium storytelling and deep insight into stories that engage with global viewers has enabled us to create fascinating content about new mobility technologies which encourages and inspires our audiences for a better future," said Rob Bradley, Senior Vice President, CNN International Commercial.

"Collaborating with CNN International Commercial will be an exciting opportunity for Hyundai Motor to share a glimpse into the future of mobility as we envision it," said Wonhong Cho, Global Chief Marketing Officer of Hyundai Motor Company. "Through this campaign, we will highlight new possibilities in life as well as the benefits of electrified mobility with IONIQ – our dedicated electric vehicle lineup brand."

About CNN International Commercial

CNN International Commercial (CNNIC) is responsible for the business operations of CNN’s properties outside of the United States. All commercial activities for brands such as CNN International, CNN en Español, CNN Arabic, CNN Style and CNN Business are aligned within the division. This encompasses the advertising sales, sponsorship partnerships, commercial content development, content sales, brand licensing, distribution and out-of-home operations, business development and marketing for the world’s leading international news provider. CNNIC is a recognised industry leader in international advertising sales and its use of award-winning commercial content, produced through its Create unit and driven by its advanced data usage and digital capabilities, has resulted in strong and enduring partnerships with many of the world’s most recognised brands. Its Content Sales and Licensing unit has relationships with more than 1,000 affiliates ranging from licensing the CNN brand through to content supply contracts as well as offering consultancy services. CNNIC has offices across the world, with key hubs in London, Hong Kong and Miami. For more information visit http://commercial.cnn.com

About Hyundai Motor Company

Established in 1967, Hyundai Motor Company offers a range of world-class vehicles and mobility services in more than 200 countries. Hyundai Motor sold more than 4.4 million vehicles globally in 2019, and currently employs some 120,000 personnel worldwide. The company is enhancing its product lineup with vehicles designed to help usher in a more sustainable future, while offering innovative solutions to real-world mobility challenges. Through the process Hyundai aims to facilitate ‘Progress for Humanity’ with smart mobility solutions that vitalize connections between people and provide quality time to its customers. More information about Hyundai Motor and its products can be found at: http://worldwide.hyundai.com or http://globalpr.hyundai.com Disclaimer: Hyundai Motor Company believes the information contained herein to be accurate at the time of release. However, the company may upload new or updated information if required and assumes that it is not liable for the accuracy of any information interpreted and used by the reader.

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PR Newswire

BGK agrees with IMF report: “Infrastructure investment is a key priority for the CESEE region to accelerate convergence toward the EU15”

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WARSAW, Poland, Oct. 17, 2020 — Infrastructure investment is a key priority for Countries in Central, Eastern, and Southern Europe (CESEE) to accelerate the convergence of the living standards toward the level of the more advance European countries, the EU15 – says the IMF report published on 28th Sep 2020. IMF highlights the Three Seas Initiative Investment Fund (3SIIF) as an initiative with the "aim to address infrastructure needs in CESEE."

The report estimates that closing 50% of the infrastructure gap until 2030 would require an annual investment of 3-8% of GDP. Attracting private investors should be an important step towards achieving this ambitious challenge.

To engage investors, the state development bank of Poland, Bank Gospodarstwa Krajowego (BGK), took the initiative to establish the Three Seas Initiative Investment Fund (3SIIF). In the report, the IMF mentions the Three Seas Fund as one of "the several initiatives aim to address infrastructure needs in CESEE".

"The Three Seas Fund is the economic dimension of the Three Seas Initiative. The Fund is the most important financial undertaking in Central and Eastern Europe. We set a clear goal for the Fund – financial support for infrastructure investments in the region. Such support is especially important these days as economies struggle with the effects of the COVID pandemic. The initiator and co-founder of the Fund is the Polish development bank BGK. We established the Fund together with our partners from the Romanian development bank EximBank" – says Beata Daszyńska-Muzyczka, the 3SIIF Supervisory Board Chairperson and BGK President.

The Three Seas Fund’s main objective is to invest in transport, energy and digital infrastructure on the north-south axis in the Three Seas countries and to offset the regional development differences in the European Union. The Fund is a commercial and market-driven initiative that will grant a diversified investment and an attractive return.

The IMF team also state that, if done right, infrastructure investment could yield significant dividends in the region. More and better public investment can help repair the economic damage of the pandemic, raise potential output, and speed income convergence with the EU15.

"At this time of economic slowdown, its benefits could be even larger. We estimate that for each percent of GDP spent on infrastructure, the output could rise by 0,5-0,75% in the short run and by 2-2,5% in the long run" – the report reads.

See full IMF report here: https://www.imf.org/en/News/Articles/2020/09/24/na092820-central-eastern-southeastern-europe-after-covid-19-securing-recovery-wise-public-investment

Visit the 3SIIF website here: https://3siif.eu/

Contact with BGK press office:
Bank Gospodarstwa Krajowego
Anna Czyż, tel. +48609220208, media@bgk.pl

PR Newswire

GAC MOTOR Launches All-New Luxury Flagship GA8 in the Kingdom of Saudi Arabia

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RIYADH, Saudi Arabia, Oct. 16, 2020 — GAC MOTOR, together with partner Aljomaih Automotive Company, held a special global online release on October 15th for the launch of the luxury flagship all-new GA8 in the Saudi market. Benefiting from the good reputation of GAC MOTOR, the high-end flagship model GA8 has attracted much attention as it is launched and is expected to be the best choice of luxury cars for the new Saudi elites.

the All new GA8
the All new GA8

This global live press conference on YouTube was co-hosted by Ahmad Albader, a well-known Saudi presenter, and Rana Jobran, a TV and radio host. Combining product videos, real-time online audience interaction and other activities.

As the new flagship car of GAC MOTOR, the all-new GA8 embodies the result of 12 years of inventiveness and intelligence of GAC MOTOR and will bring top driving experience and service to the local elite of Saudi Arabia. With a length of over 5 meters and a wheelbase of 2.9 meters, this new flagship car equipped with a third generation 390T engine brings strong power and only takes 7.8 seconds from 0 to 100km/h.

While keeping its original advantages, the new GA8 improvements on the body safety and interior environment ensures all-round safety yet deep comfort for its passengers. The GA8 is also specially equipped with G-Health seats which uses both Ultrasuede® superior suede and high-grade leather, with ventilated front row, CN95 air conditioning filter, and plasma air purifier system, which effectively isolates heat and harmful substances while keeping the fresh air inside.

Registering steady growth and product lines perfection since entering Saudi Market

With 5 showrooms in 4 big Saudi cities, GAC MOTOR has been expanding rapidly since entering Saudi Market in 2018 with Aljomaih Automotive Company.

GAC MOTOR has introduced eight models in Saudi Arabia so far, including SUVs, three-compartment sedans, and MPVs to a positive reception, as it provides the Saudi consumers with diversified and high-quality driving experience.

With a strong R&D team and intelligent manufacturing systems, GAC MOTOR has matured its global supply chain system, and established strict quality control for all parts. GAC MOTOR’s five-year or 150,000 km warranty policy also assures the consumers greatly. With such improvements, GAC MOTOR is well-positioned to create a more pleasant mobility life for consumers globally.

PR Newswire

Consumer Electronics and Automotive Sectors to Push Adoption Potential for Electrically Conductive Materials

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Development of nanomaterials to manufacture electrically conductive materials will unlock new growth opportunities, says Frost & Sullivan

SANTA CLARA, California, Oct. 15, 2020 — Frost & Sullivan’s recent analysis, Growth Opportunities for Conductive Materials, finds that increasing demand for high-efficiency electronics and components such as electrical circuits is sparking innovation in the electrically conductive materials industry. The demand for materials such as conductive polymers, conjugated polymers, quantum dots, metamaterials, conductive hydrogels, and shape memory alloys is expected to increase in the next five years. Extensive miniaturization efforts and anticipated electric vehicle penetration will result in the consumer electronics and automotive sectors securing the highest adoption potential for electrically conductive materials.

Photo – https://mma.prnewswire.com/media/1312704/electric_material_wire_Frost_Sullivan.jpg

For further information on this analysis, please visit: http://frost.ly/4o9

"Enhanced material properties such as thermal management improved electrical conductivity, and better mechanical properties will result in significant operational efficiency upgrades," said Aarthi Janakiraman, TechVision Research Manager at Frost & Sullivan. "The development of nanomaterials for manufacturing electrically conductive materials will open up new avenues for adoption. This will improve the application scope by addressing the key consumer demand for compact and energy-efficient devices."

Janakiraman added: "Effective mergers and acquisition (M&A) can significantly improve geographic reach and help create techno-commercial synergies, which is critical for long-term sustenance by catering to a broad customer group. Additionally, collaborations  with  electrically  conductive  material  manufacturers  can  help  product  developers  attain a  unique market position as, in this case,  know-how and a large-scale production facility for nanomaterials can ensure efficient pricing."

To tap into growth opportunities exposed by conductive materials, market participants can focus on:

  • Collaborating with material developers to improve cost performance.
  • Adopting electrically conductive materials such as graphene, quantum dots, and conductive polymers to improve electrical performance and meet the demand for new capabilities.
  • Using electrically conductive materials such as poly (3, 4-ethylenedioxythiophene) and polyimide conductive polymers to noticeably increase the process’s energy efficiency.

Growth Opportunities for Conductive Materials is the latest addition to Frost & Sullivan’s TechVision research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Growth Opportunities for Conductive Materials

D99C

Contact:
Jaylon Brinkley
Corporate Communications
210-247-2481
jaylon.brinkley@frost.com

 

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PR Newswire

Traxis Customs Offers Solution to e-Commerce Operators Post-Brexit

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PARIS, Oct. 6, 2020 — Global Logistics Network and Next Terra International, two companies specialising in international transport and e-commerce logistics, have joined together in creating a new subsidiary company – Traxis Customs, with the purpose of targeting e-commerce flows entering Europe, on the eve of the United Kingdom’s departure from the European Union. 

International Customs Clearance
International Customs Clearance

Historically, e-commerce operators have utilised London Heathrow as a main European gateway for customs clearance, but with the rapid approach of Brexit, international businesses are now seeking alternative solutions in mainland Europe.

Aicha Sow, Managing Director of Traxis Customs said: "We believe that Brexit will create some gaps in Europe, and we would like to jump on this opportunity to help transform Paris CDG airport into a European Gateway for incoming e-commerce flows into Europe. We have been supported by the French customs in our mission and we believe that all facilities are now ready for this movement."

Launching in October 2020 and strategically located within Charles de Gaulle airport in Paris, Traxis offers an intelligent and flexible customs clearance solution, both internationally as well as to those businesses based in the UK seeking European import and exports clearing solutions.  A Registered Customs Representative, Traxis Customs is capable of handling all import, export and transit customs formalities in France, for all European countries, therefore aiding the free circulation of merchandise within Europe.

Supported by the two mother companies (gl-net.com & next-terra.com), Traxis Customs’ primary goal is the optimisation of the flow of imported goods. Specialists in providing express customs clearance for Import, Export or Transit flows, the company have the capability of handling huge e-commerce flows from Asia, USA, or UK using data exchange information and state of the art information technology. Customs Clearance services can be arranged individually by shipment for freight mode or over manifest covering a list of shipments arriving or leaving in express/courier mode.

Traxis Customs is a subsidiary company of two major logistic providers on the French market : Next Terra International and Global Logistics Network.

Photo – https://techent.tv/wp-content/uploads/2020/10/traxis-customs-offers-solution-to-e-commerce-operators-post-brexit.jpg  
Logo: https://mma.prnasia.com/media2/1306361/Traxis_Customs_Logo.jpg?p=medium600 

www.traxis-customs.com

www.next-terra.com

www.gl-net.com

Contact: info@traxis-customs.com

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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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