Artificial Intelligence (AI) helps the vehicle to take decision in complex environment. AI is utilized in automobiles industry for smart mobility. At present, automotive industry has employed advanced driver assistance system (ADAS) and with increase amount of embedded intelligent the industry is progressing towards semi-autonomous vehicle. AI enables real-time recognition of surroundings and automates the vehicle mobility, controls in-vehicle systems, and eventually prevents accident. The various applications of AI in automobile sector is road tracking, capturing driver's gesture and expression, passenger experience, fleet management, weather monitoring, predictive maintenance, location search, E-payment and in-vehicle system control.
That's certainly one way to make a logo. Amazon has agreed to acquire autonomy startup Zoox for a sum in excess of $1 billion, according to sources cited by The Information. The news comes hot on the heels of a Wall Street Journal report last month indicating that such talks were taking place. The deal, confirmed in an Amazon blog post, would value Zoox at significantly lower than the $3.2 billion valuation it received during a funding round in 2018. But given the current state of the economy, a seven-digit payout is nothing to sniff at.
Amazon announced Friday that it will acquire Zoox, a self-driving startup founded in 2014 that has raised nearly $1 billion in funding and which aims to develop autonomous driving technology, including vehicles, for the purposes of providing a full-stack solution for ride-hailing. Zoox will continue to exist as a standalone business, according to Amazon's announcement, with current CEO Aicha Evans continuing in her role, as well as CTO and co-founder Jesse Levinson. Their overall company mission will also remain the same, the release notes. The Financial Time reports that the deal is worth $1.2 billion. The Wall Street Journal had reported at the end of May that Amazon was looking at Zoox as a potential acquisition target, and that the deal had reached the advanced stages.
The tiny Smart car was meant to be a revolutionary new idea in urban mobility. But more than 20 years after its creation, the Smart car pulled out of the U.S. after years of increasingly dismal sales. Now, its parent company, Daimler, is looking in a new direction. About CNBC: From'Wall Street' to'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Along with sustainable electric transportation, he views autonomy as a core element of Tesla Inc.'s "fundamental goodness." Humans will be freed of the tedium of driving, he told Wall Street last year. Millions of lives will be saved. There is another incentive for Musk to put driverless cars on the road, though. The day he does that, hundreds of millions of dollars' worth of stored-up revenue become eligible for a trip straight to Tesla's perpetually stressed bottom line.
Uber has accrued roughly $2.5 billion in losses this year, not including the sale of its unprofitable businesses in southeast Asia and Russia. Last year, Uber lost about $4.5 billion. In preparation for the company's planned IPO, Chief Executive Dara Khosrowshahi has been working to shore up Uber's finances, including closing or selling unprofitable units and paring expenses. Bankers hoping to help Uber with its plan to go public have valued the company on the public markets at as much as $120 billion, more than double its valuation from a recent funding round, The Wall Street Journal reported in October. That valuation is more than General Motors Co .
Tesla Inc. TSLA -3.02% will restructure and flatten its management, Chief Executive Elon Musk told employees Monday, as the Silicon Valley auto maker struggles to boost production of its Model 3 sedan amid an exodus of top leaders Mr. Musk made the announcement following news that his engineering chief, Doug Field, was taking a leave of absence, and that senior executive Matthew Schwall was leaving the company for Alphabet Inc.'s GOOGL 0.29% driverless car division Waymo. "To ensure that Tesla is well prepared for the future, we have been undertaking a thorough reorganization of our company," Mr. Musk said in the memo reviewed by The Wall Street Journal. "As part of the reorg, we are flattening the management structure to improve communication, combining functions where sensible and trimming activities that are not vital to the success of our mission." He added that the company will continue to hire workers. In early May, Mr. Musk alluded to a reorganization when he discussed cutting down on the number of contract workers.
CNBC's Phil LeBeau explores who is leading the autonomous car race, and which company will have cars out on the road the soonest. About CNBC: From'Wall Street' to'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Find CNBC News on Facebook: http://cnb.cx/LikeCNBC
Google has revealed the self driving minivans it hopes could revolutionise the way we travel. At a closely guarded'fake town' testing facility called The Castle located 120 miles southeast of San Francisco, it showed where its cars complete their equivalent of driver's education. The tour included giving more than three dozen reporters rides in Chrysler Pacifica minivans traveling through faux neighborhoods and expressways that Waymo has built on a former Air Force located in the Californian Central Valley city of Atwater. Google has revealed the self driving minivans it hopes could revolutionise the way we travel. According to the Wall Street Journal, the Waymo passenger experience begins by with a screen welcoming people aboard the vehicle, and telling them to push a blue'start ride' button on the ceiling of the car.