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31 January 2023
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Arrival company sacking people

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Arrival, the UK-based electric-van start-up, is facing a challenging time as it announces another round of job losses and a new CEO. Despite attracting investment from Hyundai and floating two years ago with a value of $15bn, the company has struggled to commercialize its products and has faced a series of problems along the way.

Arrival is a vehicle start-up that is focused on developing and manufacturing electric vans. Founded in 2015, the company quickly gained attention and investment, with Hyundai Motor Group investing in the company and leading its $118 million funding round in 2019. Arrival’s innovative approach to EV manufacturing, using small-scale factories, led to a $15 billion valuation when the company went public in 2020. However, Arrival has faced numerous challenges in commercializing its products and has recently announced a new round of job cuts and a change in leadership.

Arrival seems to be a cutting-edge technology company that creates interesting, completely different vans.

What's going on at Brit start-up Arrival? | Top Gear

The only issue with the car is the front design. I believe it is way too basic compared to entire vehicle. It should be more developed and more unusual.


In December, the company issued a “going concern” warning that it would run out of cash within 12 months, with cash burn at the time likely to deplete its reserves by the summer. To prevent this from happening, the company has announced that it will shed around half its remaining workforce, with 800 jobs to be cut in the UK and Georgia. This marks the third series of job losses since last summer.

On Monday, Arrival named Igor Torgov, a former Microsoft and telecoms executive who has been with the company for two years, as its new CEO. Torgov acknowledged that the company faced “hard decisions” in the coming weeks but believes that its current strategy is fundamentally sound and might only require “tweaks and improvements.”

In a move to focus on the US market, Arrival ditched plans to produce a vehicle in the UK last year and instead plans to make a van in a factory in South Carolina. Torgov said that this plan was the “best use of our limited resources” and that “if executed right, and with all due discipline, it could be a compelling message for investors.” However, the company does not expect to begin producing the US van until the second half of 2024, which is later than previously expected.

The cuts announced will reduce the quarterly spending of the revenue-less business to about $30mn. At the end of December, Arrival had about $205mn of cash available. The company is in the process of fundraising and has appointed Teneo as a financial adviser to find a buyer or investor. Torgov is hopeful that the cuts will “give us a decent time to work with the investors.”

Torgov, who has an MBA from California State University and a track record of cost-cutting programs or significant strategy changes from his previous roles at Yota and Atol, said, “I am familiar [with turnarounds], I am not getting any fun from it. We have got all this talent, and the vast majority of people in Arrival are brilliant people, and did a lot of good things to bring the company forward.”

One of the things that Torgov is reviewing is Arrival’s controversial flying vehicle program, called “Jet.” Despite dismissing hundreds of workers last year and delaying other projects, including a bus, employees were told that the side venture was protected from cost-cutting, as it was understood to be a pet project of Arrival founder and chair Denis Sverdlov. Torgov indicated that the aircraft program was “probably the only thing that is still under discussion” and hopes to announce a decision at the group’s investor update in early March.

In conclusion, Arrival faces a critical time as it tries to turn its fortunes around and commercialize its products. The company’s new CEO, Torgov, acknowledges the challenges ahead but is optimistic about the future and believes that the company’s current strategy, with some tweaks and improvements, could be a compelling message for investors.

Sources:

https://www.ft.com/content/cb2f8b55-ac2a-4e0e-be4b-195c96d78a77

15 January 2023
2 Comments
Business

Sony’s Entry into the Auto Industry: Afeela EV and Honda Partnership

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Sony’s entry into the automotive industry has been a topic of interest for the past few years. In 2018, at the CES tech trade show in Las Vegas, Sony Group announced its entry into the automotive industry by showcasing its EV prototype, a move that surprised the public and indicated the company’s ambition to expand its tech capabilities into the auto space.

This move was a brave one for Sony, as the automotive industry is known for its intense competition and high barriers to entry. But it was also a strategic move, as the company sought to diversify and expand its tech capabilities. The EV prototype caught the attention of a major player in the automotive industry, Honda Motor, who approached Sony to form a partnership.

Two years later, Sony and Honda Motor announced the establishment of Sony Honda Mobility, a 50-50 joint venture to develop next-generation EVs. This partnership came about after Honda approached the electronics giant, showing that Sony’s prototype concept car had paid off and caught the attention of a major player in the automotive industry.

As the future of cars becomes more electric and software-based, cross-industry coalitions like this could be key to unlocking the next generation of innovation in the auto industry. Sony and Honda’s new EV brand, the Afeela, was unveiled at this year’s CES and is equipped with automatic doors operated by a smartphone app, a semi-circular steering wheel, and multiple displays for entertainment. The car also has a unique feature where drivers can pause their PlayStation game at home and continue playing it in the car.

Afeela EV

The car in question boasts a highly futuristic design, featuring only two doors and unorthodox headlights. Despite its advanced features, it appears to be more of a mid-priced option as opposed to a luxurious one. This futuristic car is not only stylish, but also a great choice for those who are environmentally conscious, as electric cars produce zero emissions, and are more fuel-efficient. It’s a perfect blend of style and substance, where the technology is seamlessly integrated into the design. The weird headlights, which might be strange at first glance, adds to the unique and striking design of the car. The two-door configuration also gives it a sporty and sleek look. Overall, this car is a great option for those looking for a stylish, high-tech vehicle that won’t break the bank.

Customers will have to wait a few more years before they can get their hands on the Afeela, as Sony Honda Mobility plans to make its first deliveries in 2026. When it does hit the market, it will be competing against established players like Tesla and European premium makers, as well as potentially self-driving cars from tech giant, Apple.

Overall, Sony’s entry into the automotive industry is not only a bold move, but also a strategic one as the company seeks to diversify and expand its tech capabilities. With the partnership with Honda, Sony is well-positioned to be a major player in the electric vehicle market in the future.

In conclusion, Sony’s entry into the automotive industry is a bold and strategic move. The company’s EV prototype caught the attention of a major player in the automotive industry and resulted in a partnership with Honda Motor. The new EV brand, the Afeela, is set to hit the market in 2026 and will be competing against established players like Tesla and potentially self-driving cars from tech giant, Apple. Sony’s partnership with Honda and its entry into the automotive industry positions the company to be a major player in the electric vehicle market in the future.

Sources:

https://gomechanic.in/blog/sony-afeela-ev/

https://www.ft.com/content/56c0ec88-e797-4fe6-a750-7882b87f1907

29 December 2022
1 Comment
Business

Innovation and chip usage in car market

Reading Time: 2 minutes

As the demand for electric and driverless vehicles continues to grow, chip designer Arm has reported impressive growth in its automotive division. The company has more than doubled its revenue in this sector over the past year, as it looks for new opportunities for growth ahead of a highly anticipated public listing in 2022.

The increasing incorporation of technology in modern vehicles has led to a greater demand for chips to power these electronic systems. As a result, there is currently a shortage of chips in the market, causing delays in the availability of certain car models for over a year. In response to this high demand for chips in the automotive industry, Arm has chosen to prioritize the production of chips for this market segment.

The car chip shortage, explained | Toyota of North Charlotte

The production of a basic automobile necessitates the incorporation of over 3,000 semiconductor chips, as reported by the New York Times. The demand for enhanced fuel efficiency in the automotive industry, particularly after the 1973 oil crisis, has resulted in the increased use of electronics in engine controls. These electronics, including sensors for monitoring various engine functions, have been made possible through the utilization of chips and have significantly improved fuel economy in vehicles.

Semiconductor chips have become increasingly prevalent in the automotive industry due to their reliability compared to mechanical components. Electronic controls, such as those used to open windows or adjust seats, have become standard in many vehicles. These chips also play a role in the operation of features such as air conditioning and screen displays. The use of semiconductor chips has become an integral part of the daily operation and comfort of modern automobiles.

It is clear why Arm has chosen to prioritize the development of car chips. In 2021, a shortage of these components significantly impacted the number of cars that could be produced. Arm’s strategy of becoming a chip supplier for many automobile companies appears to be well-timed, as the lack of available chips has resulted in millions of unproduced cars. The increased production of chips for the automotive industry is therefore a pressing issue.

Chart: The U.S. Car Models Most Impacted By The Microchip Shortage | Statista
Source:https://www.statista.com/chart/24969/vehicles-taken-out-of-production-due-to-microchip-shortages/

In conclusion, the increased production of car chips is a crucial development in the automotive industry. The shortage of these components in 2021 had a significant impact on the number of cars that could be produced, highlighting the importance of their availability. Companies like Arm, which have made the decision to focus on car chip production, may be well positioned to meet the demand from automobile manufacturers. As technology continues to advance and the use of electronics in vehicles increases, it is likely that the demand for car chips will only continue to grow. Therefore, important for companies to stay at the forefront of this development in order to meet the needs of the market and stay competitive.

Sources:

https://www.ft.com/content/a09c4500-27ae-42d7-8b3f-e6d13f1b3f3b

https://www.statista.com/chart/24969/vehicles-taken-out-of-production-due-to-microchip-shortages/

https://www.forbes.com/sites/willyshih/2022/11/20/why-are-automotive-chips-still-in-short-supply/?sh=7506bff3782a

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15 December 2022
1 Comment
AI, Business

Will flying taxis revolutionize the vehicle industry?

Reading Time: 2 minutes

In November, Pontoise-Cormeilles in France opened the first “vertiport,” a new type of air terminal specifically designed for electric vertical takeoff and landing (EVTOL) aircraft, also known as flying taxis. The terminal uses facial recognition and weight sensors to quickly process passengers, making it a prototype for future facilities.

The use of flying taxis has the potential to greatly impact urban transportation. They are expected to be significantly cheaper and more environmentally friendly than helicopters and can be adapted for autonomous flight. This means that the pilot’s seat can be used for an extra passenger, increasing the vehicles’ efficiency.

Currently, regulators are only granting airworthiness certificates to flying taxis with pilots on board. This is to allow for the testing and gaining of experience with the vehicles before they are permitted to fly autonomously. However, most operators are starting with piloted versions in order to get their flying taxis in the air quickly.

In the field of flying taxi development, Volocopter is a frontrunner. Its VoloCity aircraft is designed to accommodate only one passenger, but it faces competition from Joby’s five-seater model and AutoFlight’s four-seater, a Chinese company. Even Airbus, Europe’s largest aircraft maker, has entered the market with a four-seat flying taxi that will initially be piloted.

Airbus Unveils Its First Electric Air Taxi, the CityAirbus NextGen – Robb Report
CityAirbus by Airbus

The Paris Olympics in 2024 will provide a potential launchpad for flying taxis. The company managing Paris’ airports, including Pontoise-Cormeilles, plans to have at least two routes operating in the region by then, with a total of ten air taxis flying two or three trips per hour depending on distance. These routes will connect the Olympic Village with conventional airports and the Paris heliport at Issy-les-Moulineaux.

The benefits of flying taxis are clear. They are quieter, cheaper, and more environmentally friendly than helicopters, and have the potential to revolutionize urban transportation. With the Paris Olympics approaching, we may soon see the widespread use of these exciting new vehicles.

On the other hand, the production of EVTOL aircraft might be very expensive. Furthermore, not having a pilot among people inside the aircraft might be dangerous in case of emergencies and people won’t feel as safe as with a professional on the board.

I personally believe that the idea is very interesting, especially if society wants such type of transport to become a regular one. Paris Olympics would be a great test for flying taxis, we will see if it works well or will turn out to be a complete failure.

In conclusion, the opening of the first vertiport in Europe signals the potential for flying taxis to greatly impact urban transportation. The benefits of flying taxis, such as their low cost and environmental friendliness, make them a promising option for the future of transportation. With the Paris Olympics providing a potential launchpad for their use, we may soon see flying taxis becoming a common sight in cities around the world.

Sources:

https://www.economist.com/science-and-technology/2022/11/16/a-new-type-of-air-terminal-opens-for-flying-taxis

19 November 2022
1 Comment
Business

Italian company AHREA joining EV market.

Reading Time: 2 minutes

Electric vehicle market is very saturated in case of middle-priced cars. There is lack of cheaper vehicles, since the production is very expensive. However, there is still some place in luxury sector. That is where AEHRA decided to launch their product- a brand new, minimalistic SUV (the cab-forward design and low stance really bely that categorisation).

Presented above AEHRA SUV will have dihedral doors which is very well known concept from Mclaren (Lamborghini has different type – Butterfly doors). The company decided to name it “Elytra doors” in order to present it as their very own concept. The idea of such solution is to stand out of the crowd. People in premium cars want to be visible in society, that is what AEHRA delivers.

The new SUV looks very similar to Model X, however it is supposed to have way stronger engine. AEHRA plans to equip their car with tri-motor system (one in the front, two on the rear) producing 805 horsepower. This is somewhere between regular Tesla S and Tesla S Plaid. Moreover, the possible range of that car is supposed to be 500 miles, which is the most ever produces in electric vehicle so far (120kWh).

The interior is not known yet, however AEHRA plans to make it very minimalistic just as every other Italian brand. Such luxurious SUV was not launched yet but any company (I would put Model X in a lower group), therefore that might be very interesting solution. AEHRA also plans to introduce sedan in 2023 and expect to start delivering cars by 2025. It seems like very interesting project and Tesla might very soon have a huge competitor.

Sources:

https://www.forbes.com/sites/jamesmorris/2022/11/19/luxury-electric-vehicles-enter-a-new-aehra/?sh=6fa94176fff7