[240510] #Seyond #Wayve #Motional

1. Geely, Foretellix partner to jump-start self driving car development

• Geely and Foretellix have entered a strategic partnership to advance the development of self-driving vehicles.
• Foretellix’s safety platform will be integrated with Geely’s development and verification processes as well as their advanced simulator.
• The platform will analyze driving logs from Geely’s test vehicles and simulate various scenarios to enhance safety and efficiency.
• Geely’s Vice President of Research and Development, ChuanHai Li, emphasized the importance of the partnership in overcoming safety challenges and accelerating the commercialization of autonomous vehicles.
• Foretellix had previously collaborated with Nvidia to automate the autonomous vehicle development process.

2. Peachtree Corners uses LiDAR to increase road safety

• Peachtree Corners, a city in Atlanta, is implementing LiDAR technology at a busy intersection to enhance safety and traffic flow.
• The technology, provided by Seyond, combines LiDAR, OmniVidi Perception Service Software Platform, and Blue-Band Integrator AI to create real-time 3D mapping with vehicle and pedestrian object detection.
• Collected data can be utilized by the city to adjust traffic signals, pedestrian crossings, and intersection designs.
• Peachtree Corners, in partnership with Curiosity Lab, claims to be the first US 5G smart city with real-world connected infrastructure.
• The technology was deployed over two months ago at the city’s busiest intersection, experiencing over 60,000 daily vehicle passes and the highest number of accidents.
• Brandon Branham, Assistant City Manager and CTO, highlighted early insights, including increased vehicle flow during nearby roadway delays and a significant rise in cyclists, particularly on weekends.
• The technology provides data on speeding vehicles, vehicle types, and aids in identifying adjustments needed for pedestrian safety and efficient traffic flow.
• The city plans to expand the technology to two other intersections on the same corridor, aiming to cover a total of seven intersections with LiDAR.
• The goal is to use the technology to enhance crosswalk safety, optimize intersection designs for high-volume traffic, adjust signal timing, and better address the needs of transportation and vulnerable road users across Peachtree Corners.

3. Autonomous car company Glydways to bring driverless public transit to East Contra Costa

• Public transit in East Contra Costa County struggles to regain pre-pandemic ridership.
• Glydways, an autonomous car company, unveils Glydcars, driverless pods for transportation.
• A 28-mile enclosed roadway dedicated to Glydcars is planned, with 56 access points.
• Glydcars are summoned by a phone app and can navigate alongside existing infrastructure.
• The system aims to provide convenient access to major points of interest and expand transit options.
• The project is seen as a cost-effective way to accommodate population growth and reduce congestion.
• Funding for the project will come from a combination of state, federal, and private investment.
• The first section of the Glydcar roadway between Brentwood and Antioch is set to be completed by 2027.

4. UK startup gets $1bn funding for self-driving car tech

• Wayve, a UK-based AI firm, secures $1.05 billion in funding, the largest known investment in an AI company in Europe.
• Investors include Microsoft, Nvidia, and SoftBank, signaling confidence in Wayve’s AI technology for self-driving cars.
• The funding aims to support the development of autonomous vehicles using Wayve’s “embodied AI” technology, which learns from real-world environments.
• UK Prime Minister Rishi Sunak sees this investment as bolstering the UK’s position as an AI superpower.
• Despite the UK’s advancements, the world’s most valuable AI firms are still predominantly based in the US and China.
• Wayve’s technology is part of the UK’s larger push towards a transport revolution, with self-driving vehicles potentially hitting UK roads by 2026.
• The UK government is set to pass regulations to facilitate the adoption of automated vehicles, clearing legal liability for companies and drivers.
• Self-driving technology, while promising, faces challenges regarding safety regulations, as evidenced by ongoing investigations into AI-powered assistive driving features in the US, including those by Ford and Tesla.

5. Hyundai to invest $923 million on self-driving JV Motional

• Hyundai Motor Group plans to invest nearly $1 billion in its self-driving joint venture, Motional, with Aptiv PLC, to obtain stable management rights and accelerate the development of autonomous driving technology.
• The investment includes $475 million in Motional’s rights offering and the purchase of an 11% stake in Aptiv’s common equity interest in the joint venture for $448 million.
• Hyundai’s investments will raise its stake in Motional to 66.8%, consolidating its control over the venture’s direction and technology development.
• Aptiv plans to exchange up to 21% of its common equity interest for preferred shares, reducing its stake in Motional to 15%.
• Hyundai Motor Co., Kia Corp., and Hyundai Mobis Co. will contribute funds for Motional’s rights offering, with Hyundai Motor Co. investing 345 billion won, Kia Corp. investing 186 billion won, and Hyundai Mobis Co. investing 132 billion won.
• The investment aims to accelerate the development of autonomous driving technology and create stable profit sources for Hyundai Motor Group.
• Motional operates autonomous vehicle taxi services in Las Vegas, but the launch of commercial services of the IONIQ 5 robotaxi in the US has been delayed from 2023 to 2024.