Spartan Radar, an automotive software startup focused on leveraging radar technology for driver-assist systems and self-driving vehicles, closed its $17 million series B funding round on Wednesday. The funding will help the Los Alamitos, Calif., company deliver its flagship Ago software-based program that improves driver-assist systems’ resolution and range to market. It also will use
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SAN LUIS POTOSI, Mexico — BMW plans to invest 800 million euros ($866 million) in the central Mexican state of San Luis Potosi to produce high-voltage batteries and fully electric Neue Klasse models. The expansion, set to add around 1,000 new jobs at its operations in the Mexican state, is BMW’s latest push into electric
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TOKYO — Japan’s Denso Corp., a key supplier and affiliate of Toyota Motor Corp., on Friday slashed its annual operating profit forecast by 12.5 percent as it warned a chip shortage could cause auto production cuts. The diversifed auto components and technology supplier lowered its full-year operating profit forecast to 420 billion yen ($3.26 billion)
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Phantom AI, a startup focused on creating a software-based platform for automated vehicles, has secured $36.5 million for its series C funding round, the company said Wednesday. The fresh funding will help accelerate development of its vehicle-agnostic and customizable platform. With this new round, Phantom AI has raised $80.2 million since its 2017 founding by
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PARIS — Stellantis has promoted Antonella Bruno to head its Peugeot brand in Europe from her current role leading Jeep’s business in the region. Jeep’s new Europe boss is Eric Laforge, who is currently in charge of Stellantis’ light-commercial vehicle unit for the region. Stellantis’s Europe region includes Eurasia and Balkan-area countries. Bruno, an Italian
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Audi’s latest A3 only started sales in the U.S. in 2021, but an updated version of the trendy compact is already out testing. That’s because the latest A3 has been on sale outside the U.S. since 2020, meaning it should be due for a mid-cycle update by late 2023 or early the following year. Prototypes
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7:15 AM ET NEW YORK, United States — Ford has confirmed it will return to Formula One in 2026 as it prepares to join forces with world champions Red Bull. The American automotive giant announced its return to the sport on Friday morning without mention of Red Bull, but further details are set to be
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