This week (09-14 Dec) the automotive and transportation sectors featured investments by Volvo, BMW, Embraer & Bombardier. Details are provided below:
Volvo Group Venture Capital invests in Apex.AI
Volvo Group Venture Capital AB invests in California based Apex.AI, a leading software company in autonomous mobility. The new fund will help to develop a safety-certified software framework for autonomous systems. Volvo Group Venture Capital focuses on investment in Autonomous Solutions, Connected Services, and Electromobility.
Embraer receives two E175 Jets order from Congo Airways
Embraer is the world’s leading manufacturer of commercial aircraft has signed a firm order for two E175 aircraft, with Congo Airways. The order has a total value of around US$194 million at current list prices. The E175 aircraft will be configured in a dual-class layout, seating 76 passengers in total, with 12 in business class. The orders deliveries will commence in the fourth quarter of 2020.
BMW Group signs a supply contract with Ganfeng Lithium
BMW Group, a leading global supplier of electrified vehicles, has signed a supply contract with Jiangxi based Ganfeng Lithium Co., for the lithium required for battery cells. The contract helps in deepening BMW’s business relationship with Ganfeng and also expanding the electromobility strategy of the company. BMW for upcoming fifth-generation battery cells will be sourcing both lithium and cobalt directly from 2020. The company is making the raw materials available for battery cell manufacturers, CATL and Samsung SDI.
Bombardier signed a long-term agreement with the Greater Toronto Airports Authority
Global transportation industry leader Bombardier has signed a long-term lease agreement with the Greater Toronto Airports Authority (GTAA) to build a new Global Manufacturing Centre at Toronto Pearson International Airport. The production activities set to begin in 2023 at the new manufacturing centre. The one-million-square-foot Toronto Global Manufacturing Centre will combine thousands of highly-skilled employees with 21st-century production and tooling innovation under one roof.