|Bid||107.40 x 0|
|Ask||107.60 x 0|
|Day's range||104.40 - 107.89|
|52-week range||88.20 - 141.40|
|Beta (5Y monthly)||0.22|
|PE ratio (TTM)||N/A|
|Earnings date||24 May 2021 - 28 May 2021|
|Forward dividend & yield||0.07 (7.23%)|
|Ex-dividend date||06 May 2021|
|1y target est||N/A|
(Bloomberg) -- Aurora Innovation Inc., a Silicon Valley-based autonomous-driving startup with at least a $10 billion valuation, has agreed to a long-term strategic partnership with Toyota Motor Corp. and its supplier Denso Corp. that aims to mass produce autonomous vehicles and launch them on ride-hailing networks, including Uber’s, over the next few years. The first model that will be equipped with the Aurora Driver, the company’s hardware, software and sensor suite, is the Toyota Sienna minivan, with testing of an initial fleet to begin this year. Toyota, which overtook Volkswagen AG as the world’s top-selling automaker in 2020, is also an investor in Uber Technologies Inc. and has a formidable brand that has long been associated with high volume manufacturing and safety. The financial terms of the deal were not disclosed, but Toyota will gain an observer seat on Aurora’s board. “This is a really exciting set of developments,” said Sterling Anderson, Aurora’s Chief Product Officer, in an interview. The company is a key player in the intensely competitive self-driving vehicle industry. “We’re partnering with the largest automaker and the largest ride hailing network. It’s not just the development of the vehicle, but development of the service.”Aurora is one of several leading startups racing to commercialize its self-driving technology, along with Alphabet Inc.’s Google unit, which was later renamed Waymo, Amazon.com Inc.-owned Zoox Inc. and General Motors Co.’s Cruise LLC. Toyota, which has long preferred to develop new technology in-house, has been coy about its autonomous ambitions. The Japanese carmaker struck a similar agreement with Chinese driverless startup Pony.ai Inc. in 2019, which it firmed up last year with a $400 million investment.“Toyota is dedicated to creating and realizing mobility for all by focusing on technology that will move people safely and responsibly, a vision Aurora shares with us,” Keiji Yamamoto, operating officer of Toyota and President of Connected Company, said in a statement. Aurora is testing on public roads in California, Pennsylvania and Texas, with an initial focus on completing long-haul, commercial trips. The company’s three co-founders have a deep history in the self-driving industry. Chief Executive Officer Chris Urmson previously led the autonomous team at Alphabet Inc.’s Google unit, which was later renamed Waymo. Anderson directed Tesla Inc.’s Autopilot efforts, and Chief Technology Officer Drew Bagnell, an associate professor at Carnegie Mellon, was part of the 2015 academic exodus that formed Uber’s Advanced Technologies Group.The startup has struck several deals in recent months. In December, it acquired Uber Technologies Inc.’s autonomous division. The merger boosted Aurora’s employee count to about 1,600, including hundreds who are based in Pittsburgh, an epicenter of robotics thanks to the talent pipeline at Carnegie Mellon University. Aurora also entered into a strategic partnership with Paccar Inc., the maker of light, medium and heavy-duty trucks, last month.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Cars made by Ford, Vauxhall and Volkswagen were among the most popular used car models sold in 2020, although the overall market saw a decline.
(Bloomberg) -- Hyundai Motor Co. and its affiliate Kia Motors Corp. said that they aren’t in talks with Apple Inc. to develop an autonomous vehicle, responding to intense speculation about the potential new product by the maker of the iPhone.Apple paused discussions with Hyundai and Kia weeks ago about building an electric vehicle, people familiar with the matter told Bloomberg late last week. The Cupertino, California-based company has discussed similar plans with other auto manufacturers, the people added, asking not to be identified because the information isn’t public.Read more: Apple Talks With Hyundai, Kia on Electric Car Paused RecentlyThe South Korean carmakers also said in regulatory filings Monday they were in talks with multiple companies about autonomous EVs, but that no decision has been made. Shares of Hyundai, which said discussions with partners were in early stages, fell 6.2% in Seoul, while Kia slumped 15%.Reports surrounding Apple’s possible foray into the global market for automobiles re-emerged recently after going quiet since development first began in 2015. Apple has sought to keep its plans for an EV shrouded in secrecy, given the project’s potential to upend the industry — similar to how its iPhones have shaken up the consumer-electronics market. There are now millions of design-conscious shoppers globally devoted to the tech giant.“Talks with Apple ending aren’t going to dampen Hyundai’s strategy because the automaker already has set up plans on its EV business with the Ioniq brand,” said Lee Jae-il, an analyst at Eugene Investment & Securities Co. in Seoul. “There’s still possibility for Hyundai and Kia to cooperate with other automakers for its EV platform.”Hyundai’s statement is almost identical to one it issued a month ago, after the company muddled its message around the highly anticipated Apple vehicle, first confirming local Korean media reports that it was in discussions with the tech behemoth, then revising its statement twice in a matter of hours. Hyundai finally said it had received requests for potential cooperation from a number of companies.Investors sent shares in Hyundai up almost 20% on Jan. 8 and the weeks since have been peppered with speculation over which automaker Cupertino, California-based Apple may team up with. Earlier this month another report said Kia would be the recipient of a 4 trillion won ($3.6 billion) investment from Apple to make EVs, sending its stock up 10%.A report from Japan’s Nikkei newspaper last week said Apple is in talks with at least six automakers for the development of its EV while Dow Jones said Kia had approached potential partners about a plan to assemble Apple’s electric car in Georgia.Geely, BaiduLike many big tech companies that are working on connected and intelligent mobility solutions, Apple likely needs to partner with an automobile manufacturer. Setting up a car plant can cost billions of dollars and take many years.The past few months have seen a rash of tie-ups in that regard, from China’s Zhejiang Geely Holding Group Co. forging collaboration pacts with Chinese search behemoth Baidu Inc. and Apple’s Taiwanese manufacturing partner Foxconn Technology Group, to Foxconn signing a manufacturing deal with Chinese EV startup Byton Ltd.An Apple car would rival EVs from Tesla Inc. as well as offerings from upstarts like Nio Inc., Li Auto Inc. and Lucid Motors and established players such as Daimler AG and Volkswagen AG.EV sales are booming in Europe, reaching a record high in 2020 and this year is expected to mark yet another period of growth, supported by a string of new models. China is already the world’s largest EV market, with deliveries rising almost 10% last year to 1.11 million units, China Passenger Car Association data showed last month.BloombergNEF forecasts that adoption of EVs will accelerate in the 2030s, and by 2050, around 65% of all passenger-vehicle kilometers traveled will be electric. By 2050, EVs will account for 73% of all new car sales globally and there will be around 800 million passenger EVs on the roads out of a total passenger-vehicle fleet of 1.5 billion.Kia RefreshHyundai has recently developed a new EV-dedicated platform, and plans to build 23 models on it, beginning with the Ioniq 5 in March in Europe and followed by a Kia marque later this year. EVs made on the platform will be able to charge up to 80% capacity in 18 minutes and add as much as 100 kilometers (62 miles) of driving range in just five. They’ll have a top range of 500 kilometers on a single charge.Kia last month rebranded with a new, sleeker logo, scrapping its oval shaped badge and announcing a fresh slogan ‘Movement that inspires’ to replace its older ‘Power to surprise’ mantra.“Kia’s new logo represents the company’s commitment to becoming an icon for change and innovation,” Chief Executive Officer Ho Sung Song said. “The automotive industry is experiencing a period of rapid transformation, and Kia is proactively shaping and adapting.”(Updates with closing share prices in third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.