Connect with us

Automotive

USI Invested in the Automotive and Intelligent Industry Development Fund

Vlad Poptamas

Published

on

Photo source: intelligentindustry.dimecc.com
Reading Time: 2 minutes

 

USI (SSE: 601231) recently announced that on December 6, 2018, the Company’s wholly-owned sub-subsidiary Universal Global Electronics Co., Limited entered into an agreement with Phi GP, Ltd.. As a limited partner, Universal Global Electronics Co., Limited intended to subscribe for the share of PHI Fund, L.P. for not more than US$25 million, and invest in installments in accordance with the required amount of investment targets.

The PHI Fund is a professional investment management team composed of experienced professionals in the automotive industry, high-tech industry and investment field. Its team members have deep expertise and wide connections in their respective fields. It also has consultant teams from Europe, North America, Taiwan, Hong Kong and mainland China. The Fund will focus on exploring crossover, upgrade and transformation investment opportunities arising from the transformation of new travel modes, and discovering valuable investment targets by introducing new technologies of different fields to all links of the industry chain or introducing existing technologies into new markets. The investment fund will be mainly used for investing in the automotive and smart industries.

USI’s investment in the PHI Fund is beneficial to the Company for leveraging the experience of the fund management team to accelerate the layout and business development of the automotive electronics industry, establish a broader partnership with fund investors and fund investment companies while sharing fund investment gains, increase the Company’s engagement in the automotive electronics industry and ecosystem, and enhance industry influence.

Jeffrey Chen, Chairman of USI, put forward the goal of “Modularized, Diversified and Globalized” for the Company’s future development, and made it clear that the Company would continue to strengthen its industry-leading D(MS)2 business positioning, consolidate the world leading position of System-in-Package (SiP) technology, accelerate growth of advantageous product lines such as system integration of automotive electronics, industrial and server systems, and actively combine the denotative expansion and organic growth opportunities through M&A to accelerate business growth, improve profitability and increase returns to investors.

Hello!


Thank you for visiting my profile and thank you for reading my news and published press release!


There a many things that shape a man, but the carving is done by the hobbies and passions. I've pursued two main careers, professional photography and webdesign, while also keeping a passion for automobiles, technology and games. At PICANTE NEWS, I take care of news editing and press release publishing in se
veral categories and as I've mentioned, during my spare time, I am also a professional photographer with webdesign skills.

My future plans include developing more journalistic skills and start creating investigative journalism. You can find my reports and press release coverages in the following categories:


BANKING/FINANCIAL SERVICES, COMPUTER ELECTRONICS, AUTOMOTIVE, CONTRACTS, ANALYSIS, INTERNET TECHNOLOGY, BIOTECHNOLOGY, BLOCKCHAIN, ACQUISITIONS, RETAIL, and many more.



You can get in touch to discuss interviews or possible article submissions via e-mail on vlad@picante.today or call our office number: 0040 731 394 220.


Let's also connect via social media! You can find me on Facebook or visit my photo portfolio.

Advertisement
Comments

Automotive

Best New Automotive Innovations for 2019 Announced by Automobile Journalists Association of Canada

Vlad Poptamas

Published

on

Photo source: guideautoweb.com
Reading Time: 2 minutes

 

The Automobile Journalists Association of Canada (AJAC) announced today the winners of its 2019 Innovation Awards at the Canadian International AutoShow in Toronto. The winners are:

Best Green Innovation – Infiniti, for the VC-Turbo engine.

Best Safety Innovation – Subaru, for DriverFocus.

Best Technical Innovation – Mercedes-Benz, for Mercedes-Benz User Experience (MBUX).

“The Innovation Awards now recognize safety, environmental awareness and technology,” said Mark Richardson, President, Automobile Journalists Association of Canada. “This is an opportunity to recognize the very best and most innovative examples of new automotive products available to Canadian drivers.”

In 2018, AJAC members nominated 30 different automotive innovations for consideration. The awards were judged by a panel of nine journalists who specialize in automotive technology. They independently reviewed briefs on all nominated entries, and from that initial review the jurors established a short list of finalists in each category.  In late October, they convened for a day of presentations and questioning with manufacturer representatives on each of the short-listed entries.  The jurors then voted a second time by secret ballot.

As with the Canadian Car of the Year awards program, these votes were compiled and authenticated by accounting firm KPMG.

Infiniti’s VC-Turbo engine is the world’s first production-ready variable compression ratio engine and one of the most advanced internal combustion engines ever created. More than 20 years in development, it represents a major breakthrough in internal-combustion powertrain technology. It delivers the power of a high-performance 2.0-liter turbo gasoline engine with a high level of efficiency.

Subaru’s DriverFocus utilizes a camera angled at the driver’s face and facial recognition software to monitor fatigue or lack of attention. When the driver begins to lose focus, DriverFocus immediately sends out a helpful alert — it’s like an automated co-driver.

Mercedes-Benz’s MBUX uses artificial intelligence to adapt to suit the user, creating an emotional connection between the vehicle, driver and passengers. It includes the high-resolution widescreen cockpit with touchscreen operation, navigation display with augmented reality technology, plus intelligent voice control with natural speech recognition, which is activated with the keyword “Hey Mercedes.”

Photography is available at http://www.ajac.ca/press-room.asp

 

SOURCE Automobile Journalists Association of Canada

Continue Reading

Automotive

Karma Automotive Bolsters Growing Leadership Ranks

Vlad Poptamas

Published

on

Lewis Liu
Reading Time: 2 minutes

 

– NEW VP, BUSINESS DEVELOPMENT & STRATEGY HELPS DRIVE BRAND TOWARD PROFITABLE LUXURY, HIGH-TECH FUTURE

– KEY ASSIGNMENTS: DRIVE REVENUE, INCREASE MARKET SHARE, MAXIMIZE PROFITABILITY

Lewis Liu, an accomplished automotive strategist with deep consulting experience for several major international and Chinese brands, has joined Southern California-based Karma Automotive as Vice President, Business Development and Strategy to help lead long-term, forward-thinking business strategies, focused on luxury, high technology, customization and VVIP customer treatment.

“Lewis has the kind of expertise in corporate financial investments, strategy development and implementation, international operational management, and market-entry strategies we need to help grow Karma’s unique luxury electric vehicle nice,” said Karma CEO Dr. Lance Zhou. “Karma attracts top talent because we have a very clear vision of what’s required to achieve our goals and execute a solid product plan that spans the next decade. Our future is strong.”

Liu comes to Karma from Faraday Future where he served as Senior Director of Strategic Partnership & Business Development since 2016. Prior to his time at Faraday, Liu was a Managing Director of KPMG Advisory (China), leading the management consulting practice for the automotive industry. Prior to joining KPMG, Liu was Senior Vice President at Ascension Capital, a private equity firm specializing in mergers and acquisitions for the auto industry. Lewis was also the General Manager and Plant Manager at Philips Lighting Electronics where he managed a business unit in the Asia Pacific region for Philips.

“Karma’s Value-Forward business plan which in part encourages collaboration with the right business partners to help accelerate technology and product development really attracted me to the company,” said Liu. “I’m excited to help create long-term value for a brand that’s defined by exclusive design and craftsmanship, intuitive and integrated high technology, personalized customization that allows every Karma vehicle to be special, and an owner experience with unrivaled treatment.”

Liu, who reports directly to Mikael Elley, Karma’s Co-Chief of Staff, will craft strategies to meet future luxury EV customer demands, leverage technology developments, and remain in front of competitor plans and industry trends to help ensure Karma is well positioned for success. He is expected to play a key role in driving revenue and maximizing profitability.

Liu earned his MBA from the University of Chicago and his master’s degree in Artificial Intelligence from the University of Mississippi. He also earned a bachelor’s degree in Computer Science from Beijing Polytechnic University.

Meet Karma Automotive and Karma Revero
Karma Automotive designs, engineers, assembles and markets luxury electric vehicles, all from its Southern Californiabase of operations. Founded in 2014 and employing nearly 1,000 people worldwide, Karma Automotive is committed to elevating and growing the luxury mobility experience for its customers and draws on global relationships and technology partners to achieve this. Named Green Car Journal’s 2018 Luxury Green Car of the Year, Karma Revero is a luxury electric vehicle powered by dual electric motors that embodies the company’s goals of offering leading automotive design, technology, customization and an outstanding customer experience.

SOURCE Vibes

Continue Reading

Automotive

AUTOTECH 2018 – 100 M&A DEALS AND RECORD VENTURE CAPITAL INVESTMENT LAY THE FOUNDATIONS FOR AUTOMOTIVE FUTURE

Vlad Poptamas

Published

on

Photo source: automobile.vinamr.com.vn
Reading Time: 3 minutes

 

  • Disclosed VC funding to automotive start-ups hits $8 billion
  • Electrification, connectivity, autonomy and mobility are driving investments and deals in a race for market leadership

 

London, UK – 20 February 2019. The latest Automotive Technology M&A Market Report from international technology mergers and acquisitions advisor, Hampleton Partners, reveals that disclosed Venture Capital funding to automotive start-ups totalled $8 billion in 2018.

In parallel, almost 100 M&A deals were inked, including Renault, Ford and Volkswagen’s autotech acquisitions in the second half of 2018; however, total disclosed M&A transaction value reached $3.9 billion in the time period, the lowest in over five years.

The report also shows the growing role of Private Equity (PE) in the autotech M&A market, accounting for almost one quarter of all transactions in 2018. The largest PE acquisition was Gores Group’s buyout of Verra Mobility for $1.3 billion, at an attractive 17x EV/EBITDA multiple.

Jo Goodson, managing director, Hampleton Partners, said:

“Although we are currently seeing more venture capital investment than M&A transaction value in autotech, all players in the sector continue to push to be the market leader within the new world of electrification, connectivity, autonomy and mobility. Start-ups with innovative ideas are pursuing funding, and global giants from all sectors, including financial, are continuing to invest, fund and acquire.”

 

Key trends in autotech

  • Connected car technology is widely hailed as the precursor for autonomous vehicles, providing passengers with features like internet, next-generation infotainment and enhanced safety features.

 

Examples of deals in this sub-sector included Volkswagen’s purchase of WirelessCar for almost three times its revenue; Aptiv’s acquisition of Chinese advanced interconnect specialist KUM in a landmark $500 million deal; and Zurich Insurance’s acquisition of Bright Box in a move to bring the insurer into the vehicle and closer to the data it generates.

  • Vehicle manufacturers are diversifying from pure passenger car production to protect themselves against an uncertain future where personal vehicle ownership is no longer the norm.

 

Early in 2018 Daimler led a $175 million equity round in Taxify, Estonia’s response to Uber. BMW took over Parkmobile to become the largest provider of mobile parking in the United States and in November Ford bought Spin, an electric scooter sharing platform, in an effort to expand its micro-mobility offering.

  • Internet commerce and content is growing in importance, with prospective vehicle owners now spending around 60 per cent of their time searching online.1

 

KAR Auction Services, which signed five deals over the past 30 months, purchased B2B car auction website, CarsOnTheWeb, for just over $100 million. Meanwhile, in November 2018 Renault bought Carizy, a used vehicle marketplace. Renault hopes to capitalise on the fast-growing used vehicle industry between private individuals, opening another lucrative revenue stream for the French automaker.

  • The digital transformation of dealerships: in a two-way street of deal-making, dealerships are incorporating enterprise software and CRM solutions to build better informed relationships with their prospective and current customers and ease the marketing and sale of vehicles, whilst online vehicle marketplaces are getting closer to the dealers.

 

Two US-listed online vehicle marketplaces made acquisitions in 2018: Cars.com made a $165 million acquisition of DealerInspire, a provider of automotive advertising SaaS and service. TrueCar’s picked-up DealerScience, a dealership retail software provider, for $27 million.

 

Automotive technology M&A in 2019

Jo Goodson concluded:

“We believe 2019 and 2020 will remain very strong for both acquisitions and funding in the autotech sector, despite the storm clouds on the horizon which may provoke a reduction in vehicle sales’ volume overall.

“Our rationale is that spending in the sector will not be impacted by short-term market turbulence. Autotech is a truly transformational sector and we’re only at the beginning of a very long journey. In summary, we foresee a strong autotech M&A market over the next 24 months, with stable Enterprise Value multiples and a sharply growing capital raise market with increasing valuations.”

Continue Reading

Font Resizer

Subscribe to PICANTE via Email

Enter your email address to subscribe to PICANTE and receive notifications of new posts by email.

Follow us on Facebook

Read more from our authors

Entertainment5 hours ago

ZEE5 and Dialog Announce a Strategic Partnership to Bring the Largest Bouquet of Premium Regional Content to Sri Lanka

Airlines/Aviation 5 hours ago

Excitech to Deliver Common Data Environment to Heathrow Airport Limited

Contracts5 hours ago

The “Calligraphy, Tea Culture and Silk Road Photography” Sino-Singaporean cultural exchange event takes place in Singapore

Computer Electronics5 hours ago

Polystar’s Enhanced 5G Core Network Testing Capabilities Help CSPS on Road to Commercial Deployment

Banking & Financial Service5 hours ago

LGT opens wealth management office in Thailand for high net worth investors

Asia5 hours ago

Nielsen Launches SMARTSTORE in Hong Kong

European Commission Press Releases6 hours ago

Statement by Commissioner Jourová ahead of the European Day for Victims of Crime

European Commission Press Releases6 hours ago

Structure of orchards in 2017 – Two-thirds of the EU’s fruit plantation area is concentrated in Spain, Italy and Poland

European Commission Press Releases6 hours ago

State aid: Commission opens in-depth investigation into British Capacity Market scheme

Latest News6 hours ago

MYCOM OSI Demonstrates End-to-End Assurance for Red Hat virtual central office solution

Corporate Expansion6 hours ago

Federal Signal Announces Plans to Expand Illinois Manufacturing Facility to Support Increased Demand

Asia6 hours ago

Indonesian Digital Infrastructure Provider Alterra Deploys Vymo Sales CRM to Grow Channel Partner Business

Computer Electronics6 hours ago

University of New Haven Researchers Discover Critical Vulnerabilities in Popular Virtual Reality Application

Latest News6 hours ago

VRtuoso Secures $650,000 to Extend VR Enterprise Training to All Companies

Canada7 hours ago

NexTech Launches ‘Try-It-On’ Augmented Reality Experience for Online Retail

Latest News7 hours ago

Belfast Tech Startup Using Automated Lip-Reading to Make User Authentication Systems More Resistant to Spoofing Attacks

Awards7 hours ago

The BBVA Foundation recognizes Ivan Sutherland for revolutionizing human-machine interaction through computer graphics and virtual reality

Automotive7 hours ago

Best New Automotive Innovations for 2019 Announced by Automobile Journalists Association of Canada

Health Care & Hospital7 hours ago

Cipla and Wellthy Therapeutics Announce Partnership to Offer Digital Therapeutics for Diabetes and Cardiovascular Diseases

Computer Electronics8 hours ago

Seismic Named to Fast Company’s Annual List of the World’s Most Innovative Companies

Automotive8 hours ago

Karma Automotive Bolsters Growing Leadership Ranks

Advertising8 hours ago

Vibes Unveils Conversational Analytics, The Industry’s First Natural Language Processing Solution

Latest News8 hours ago

New Study: 7 in 10 women make significant financial sacrifices for the sake of others

Banking/Financial Services8 hours ago

BizClik Media Announces the Launch of FinTech Magazine

Computer Software9 hours ago

Infosys Recognized Among the Top Three Employers in Europe and Middle East

Latest News2 weeks ago

Rolls Royce and Tudor Tech sign up to the Defence Aviation Safety Conference

African American2 weeks ago

Alfred Street Baptist Church Awards Howard University $100K To Pay Off Student Tuition and Fee Balances

African American2 weeks ago

The HistoryMakers Kicks Off Black History Month on PBS

Art3 weeks ago

David Beckham’s luxury men’s grooming brand HOUSE 99 is celebrating its first anniversary

Banking/Financial Services2 weeks ago

Wirecard Enables Mobile Payments via Alipay at Stockmann, the Leading Luxury Fashion Department Store Chain in the Baltics

Automotive3 weeks ago

TrueCar Receives Two “Top Rated” DrivingSales Dealer Satisfaction Awards

Analysis3 weeks ago

750,000+ Celebrate the Future of the Mobility Industry at 2019 NAIAS

Automotive3 weeks ago

Gubagoo Wins “Top Rated” DrivingSales Dealer Satisfaction Award for Fourth Consecutive Year

Food & Beverages4 weeks ago

Plant-Based Foods of Canada Welcomes Canada Food Guide Focus on Plant-based Proteins

Aerospace3 weeks ago

Spotlight Labs Introduces SPYDR® Hypoxia Sensor Device

Advocacy Group Opinion2 weeks ago

Global campaign offers Pope Francis $1 million to try vegan for Lent to save the planet

Corporate Expansion3 weeks ago

Adventure Awaits At Upscale Boutique Hotel Near Rocky Mountain National Park

Europe3 weeks ago

Mytaste Group AB signs agreement with, igaming affiliate supplier voonix.net

Awards3 weeks ago

Don Morphy Wins 2019 Fashion Group International Rising Star Award In Menswear

Acquisitions4 weeks ago

Sentry Energy Solutions Acquires Himarc Environmental Solutions

Food & Beverages3 weeks ago

The Power Of The Bagel: Go Dairy-Free At Einstein Bros. Bagels

Blockchain2 weeks ago

Emmy Nominated, National Geographic filmmaker joins blockchain group PO8

Artificial Intelligence2 weeks ago

Malta AI & Blockchain Summit throwing massive show in May

Amusement Parks and Tourist Attractions 3 weeks ago

Grand Opening of Unique Temple in India

Consumer & Cosmetics3 weeks ago

Show The World Who You Are

Awards2 weeks ago

Corcentric Named a Leader in IDC MarketScape Worldwide SaaS and Cloud-Enabled Accounts Payable Applications 2019

Latest News4 weeks ago

Frist Art Museum introduces “Dorothea Lange: Politics of Seeing”

Awards3 weeks ago

Kaon Interactive Named Top ten provider of sales technology solutions

Africa2 weeks ago

IoT Forum Africa 2019 to Showcase Latest Innovations in IoT

Entertainment2 weeks ago

Chris Evans, new Virgin Radio DJ, looks to follow up his success of CarFest with the launch of RunFestRun

Follow our Tweets

Trending

Please turn AdBlock off