Volvo

Commercial Vehicles Market cross $15.9 Tn by 2032, Says Global Market Insights Inc.

Retrieved on: 
Wednesday, March 6, 2024

The commercial vehicles market valuation is estimated to reach USD 15.9 trillion by 2032, as reported in a research study by Global Market Insights Inc.

Key Points: 
  • The commercial vehicles market valuation is estimated to reach USD 15.9 trillion by 2032, as reported in a research study by Global Market Insights Inc.
  • The commercial vehicles market from the construction & mining end-use segment is predicted to grow significantly through 2032, owing to the ongoing infrastructure development projects.
  • Increasing environmental concerns and stringent emissions regulations are driving the adoption of electric commercial vehicles, particularly in urban areas.
  • Asia Pacific commercial vehicles market will expand notably till 2032, driven by rapid urbanization, economic growth, and infrastructural development initiatives.

ECARX's Global Expansion Driven by Strong R&D and International Accreditations

Retrieved on: 
Monday, March 4, 2024

This approach has led to the deployment of ECARX solutions in over 6 million vehicles worldwide from 16 global automotive OEMs and 25 brands to date.

Key Points: 
  • This approach has led to the deployment of ECARX solutions in over 6 million vehicles worldwide from 16 global automotive OEMs and 25 brands to date.
  • Its highly robust internal processes and products have successfully obtained 23 global accreditations that cover quality systems, functional safety, and product functionality.
  • ECARX also leverages its R&D capabilities and accreditations to assist global automakers in deploying Google Automotive Service (GAS), which has rigorous standards and strict requirements for applications.
  • Peter Cirino, Chief Operating Officer of ECARX, emphasized the importance of certifications: "Possessing internationally recognized certifications is crucial for global expansion.

Navitas Semiconductor Announces Record Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Thursday, February 29, 2024

Gross Margin: GAAP gross margin for the fourth quarter of 2023 was 42.2%, compared to 40.6% in the fourth quarter of 2022 and 32.3% for the third quarter of 2023.

Key Points: 
  • Gross Margin: GAAP gross margin for the fourth quarter of 2023 was 42.2%, compared to 40.6% in the fourth quarter of 2022 and 32.3% for the third quarter of 2023.
  • Non-GAAP gross margin for the fourth quarter of 2023 was 42.2% compared to 40.6% for the fourth quarter of 2022 and 42.1% for the third quarter of 2023.
  • Loss from Operations: GAAP loss from operations for the quarter was $26.8 million, compared to a loss of $31.2 million for the fourth quarter of 2022 and a loss of $28.6 million for the third quarter of 2023.
  • On a non-GAAP basis, loss from operations for the quarter was $9.7 million compared to a loss of $12.4 million for the fourth quarter of 2022 and a loss of $8.7 million for the third quarter of 2023.

ECARX Announces Fourth Quarter and Full Year 2023 Unaudited Financial Results

Retrieved on: 
Wednesday, February 28, 2024

SHANGHAI, China, Feb. 28, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings Inc. (Nasdaq: ECX) (“ECARX” or the “Company”), a global mobility tech provider, today announced unaudited financial results for the quarter ended December 31, 2023.

Key Points: 
  • SHANGHAI, China, Feb. 28, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings Inc. (Nasdaq: ECX) (“ECARX” or the “Company”), a global mobility tech provider, today announced unaudited financial results for the quarter ended December 31, 2023.
  • “ECARX closed out 2023 on a high note, delivering a 31% year-over-year increase in revenues and significantly narrowing our net loss for the full year,” said ECARX Chairman and CEO Ziyu Shen.
  • Total cash of RMB588.2 million (US$82.8 million), including RMB27.1 million (US$3.8 million) in restricted cash, as of December 31, 2023.
  • Full Year 2023 Financial Results:
    On June 30, 2023, ECARX signed transaction agreements to increase its investment and took a controlling financial interest in JICA Intelligent Robotics Co., Ltd. (“JICA”), an entity under common control.

Joint Electric Truck Scaling Initiative (JETSI) Partners Celebrate Milestone as NFI Deploys 50 Zero-Emission Trucks and Powers Up Electric Charging Depot

Retrieved on: 
Tuesday, February 27, 2024

Ontario, California, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Today, partners of the Joint Electric Truck Scaling Initiative (JETSI) proudly announce a significant achievement in sustainable transportation.

Key Points: 
  • Ontario, California, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Today, partners of the Joint Electric Truck Scaling Initiative (JETSI) proudly announce a significant achievement in sustainable transportation.
  • JETSI project partner, NFI, a leading North American third-party supply chain solutions provider, has officially received all 50 Class 8 battery-electric trucks funded through the project—including 30 Freightliner eCascadia trucks and 20 Volvo VNR Electric trucks.
  • "NFI is committed to driving innovation and sustainability in the logistics and trucking industries," said Brian Webb, president of port services, NFI.
  • "Daimler Truck North America congratulates NFI on the successful deployment of Freightliner eCascadia trucks as part of the JETSI project.

Hazelcast Achieves Record Year with Leading Brands Choosing its Platform for Application Modernization, AI Initiatives

Retrieved on: 
Thursday, February 22, 2024

More recently, Hazelcast earned broad industry recognition from analysts , including Forrester, as a leader in the emerging unified real-time data processing category.

Key Points: 
  • More recently, Hazelcast earned broad industry recognition from analysts , including Forrester, as a leader in the emerging unified real-time data processing category.
  • Analysts identified Hazelcast’s strengths in data enrichment, resilience, and throughput, which are critical to enterprise AI efforts.
  • Hazelcast Platform is unlike other streaming data platforms because its “strategic innovation lies in also providing an extremely low-latency transactional platform.
  • Rather than ripping and replacing existing infrastructure, the Hazelcast Platform fits within the existing stack to enable ultra-fast storage and compute.

See the Future at GTC 2024: NVIDIA’s Jensen Huang to Unveil Latest Breakthroughs in Accelerated Computing, Generative AI and Robotics

Retrieved on: 
Tuesday, February 20, 2024

NVIDIA founder and CEO Jensen Huang will deliver the keynote from the SAP Center on Monday, March 18, at 1 p.m. Pacific time.

Key Points: 
  • NVIDIA founder and CEO Jensen Huang will deliver the keynote from the SAP Center on Monday, March 18, at 1 p.m. Pacific time.
  • Since Huang first highlighted machine learning in his 2014 GTC keynote , NVIDIA has been at the forefront of the AI revolution.
  • “Generative AI has moved to center stage as governments, industries and organizations everywhere look to harness its transformative capabilities,” Huang said.
  • From generative AI to robotics to automotive, GTC attendees can interact with dozens of state-of-the-art demos, see the latest autonomous vehicle technology and explore how generative AI will impact virtually every industry.

ECARX Expands Global Sales and Technical Business Development Capability with New Hub in Stuttgart, Germany

Retrieved on: 
Tuesday, February 20, 2024

SHANGHAI, China, Feb. 20, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings Inc. (Nasdaq: ECX) ("ECARX” or the “Company”), a global automotive technology provider, today announced the successful launch of its new office in Stuttgart, Germany.

Key Points: 
  • SHANGHAI, China, Feb. 20, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings Inc. (Nasdaq: ECX) ("ECARX” or the “Company”), a global automotive technology provider, today announced the successful launch of its new office in Stuttgart, Germany.
  • Inaugurated on February 1, 2024, the German office will serve as a pivotal hub for sales and technical business development, strategically positioned in the established heartland of the European automotive industry to cater predominantly for European clients.
  • The Company’s decision to establish a presence in Stuttgart underscores its mission to achieve customer excellence and foster stronger connections with leading automakers by providing exceptional support and tailored software solutions.
  • Peter Cirino, ECARX chief operating officer, said, “We are excited to take another step forward in expanding our global footprint, reinforcing our commitment to accelerating the future of software-defined vehicles.

Global and China Electric Bus Market Insights & Forecast Report 2024-2028 with Competitive Overview of BYD, Volvo, Daimler, Ebusco, Yutong Bus, and Proterra - ResearchAndMarkets.com

Retrieved on: 
Friday, March 8, 2024

The "Global Electric Bus Market (Battery Electric Bus, Plug-in Hybrid Electric Bus and Fuel Cell Electric Bus): Insights & Forecast with Potential Impact of COVID-19 (2024-2028)" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Global Electric Bus Market (Battery Electric Bus, Plug-in Hybrid Electric Bus and Fuel Cell Electric Bus): Insights & Forecast with Potential Impact of COVID-19 (2024-2028)" report has been added to ResearchAndMarkets.com's offering.
  • The global electric bus market by propulsion can be segmented as follows: battery electric bus, plug-in hybrid electric bus and fuel cell electric bus.
  • In 2023, the dominant share of global electric bus market was held by battery electric bus, followed by plug-in hybrid electric bus and fuel cell electric bus.
  • The report provides a comprehensive analysis of the global electric bus market with potential impact of COVID-19.

Cadence to Acquire BETA CAE, Expanding into Structural Analysis

Retrieved on: 
Tuesday, March 5, 2024

The addition of BETA CAE’s proven technologies and talent will accelerate Cadence’s Intelligent System Design™ strategy by expanding its multiphysics system analysis portfolio and enabling entry into the structural analysis segment, unlocking a multi-billion-dollar incremental TAM opportunity.

Key Points: 
  • The addition of BETA CAE’s proven technologies and talent will accelerate Cadence’s Intelligent System Design™ strategy by expanding its multiphysics system analysis portfolio and enabling entry into the structural analysis segment, unlocking a multi-billion-dollar incremental TAM opportunity.
  • Over the past few years, Cadence has expanded its system analysis portfolio to build out a comprehensive multiphysics platform including electromagnetics (EM), electrothermal (ET) and computational fluid dynamics (CFD) solutions, and with BETA CAE, Cadence will enter structural analysis, the largest system analysis segment.
  • Additionally, BETA CAE’s EPILYSIS and FATIQ solvers enable customers to efficiently solve structural analysis and optimization problems.
  • BETA CAE has annual revenue of about $90 million, and Cadence expects BETA CAE to contribute approximately $40 million to 2024 revenue.