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News Roundup: U.S. Senate Approves Driverless Car Bill, Federal Government Gives State Millions For Automated Taxi Service, and More

Jennifer van der Kleut

Driverless car bill passes in the U.S. Senate

Members of the U.S. Senate on Wednesday approved a bill similar to one already passed in the House of Representatives that will presumably help clear the way for driverless car technology to move forward. The bill keeps approval of driver’s licenses, regulation of insurance and enforcement of traffic laws within the states’ purview, but places oversight of the design and manufacture of driverless vehicles in the hands of the federal government-specifically the National Highway Traffic Safety Administration (NHTSA). Like the House bill, the Senate bill also permits Transportation Secretary Elaine Chao to hand individual auto manufacturers exemptions from federal safety standards for up to 100,000 vehicles per year while they are fine-tuning their technology; and it also places responsibility with tech designers to protect their vehicles from cyber attacks. Read more from the Washington Post. 

 

Federal government giving South Carolina county millions for driverless taxis?

According to a news report from a USA Today-affiliated regional newspaper, the federal government has pledged millions of dollars toward the development of a driverless taxi service in Greenville, South Carolina. Greenville Online says $4 million has been pledged to help develop the nation’s first automated taxi service in Greenville County. In a news conference Thursday, county officials announced the first test vehicle will be deployed on the Clemson University campus, in connection with the college’s International Center for Automotive Research (CU-ICAR). While the test vehicle is only the size of a golf cart, officials said the program’s expansion will feature typical-size vehicles, as well as possible non-emergency medical vehicles for senior and disabled residents. A group called the Global Autonomous Vehicle Partnership is matching funds to help the development of the autonomous vehicles. Read more from Greenville Online.

 

Driverless startup hires execs away from Google’s Waymo, Microsoft

Driverless vehicle startup Nauto is fresh off a monster round of funding, and is already looking to expand its business both locally and globally. In a first step toward that goal, the startup announced this week that it has hired executives from Microsoft, and Google Alphabet’s self-driving car spinoff, Waymo. Waymo’s former head of business, Jennifer Haroon, has joined Nauto as its new vice-president of corporate development and business operations. Microsoft’s former vice-president of global enterprise sales, Sanket Akerkar, joins Nauto as its new senior vice-president of global fleets and insurance. Nauto most recently raised $159 million in funding from a number of major firms, and already has several lucrative partnerships in place with auto manufacturers such as General Motors, BMW and Toyota. The company currently outfits commercial fleets with accident detection devices (shown in image), and is looking to scale out its geographic operations and commercial business. Read more from Recode.

Image: Nauto accident detection device / Credit: Nauto Inc.

Renesas and Cohda Announce Partnership For Autonomous, Connected Systems

Twelve losers and eight gainers helped the Driverless Transportation Index (D20) slide 0.9 percent this week to close slightly above 160, at 160.46.

Both the Dow and S&P also lost ground this week.  The Dow closed down 0.4 percent at 18240.49, while the S&P dipped to 2153.74, a loss of 0.7 percent.

Renesas Electronics (TYO:6732), this week’s D20 price gain percentage leader, jumped 4.2 percent to close at ¥640 per share. Renesas announced its partnership with Cohda Wireless to deliver a V2X platform for autonomous and connected vehicles.

Renesas will provide the V2X R-car system-on-chips (SoCs), while Cohda will add its V2X and CAV software solutions.  The combination will create a V2X reference solution that will support both North American and European communications standards for V2X connected vehicles.

Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.

 

Up-and-Comers:

Palo Alto, California-based Nauto, Inc., after raising $12 million in Series A funding in April 2016, announced that it has added an undisclosed amount to that round with funding from BMW, Toyota and the insurance company Allianz.

Nauto’s technology combines real-times sensors, forward-looking cameras and cabin-view cameras to understand the driving context in real-time.  Nauto is selling their system and its predictive capabilities to vehicle fleet managers and insurance companies.

Top 5 Driverless Startups – AI from Budapest to San Francisco

Burney Simpson

Agree or disagree – the top 5 self-driving startups are AdasWorks, comma.ai, drive.ai, Nauto, and nuTonomy?

That’s the conclusion of the new analysis from CB Insights “Who’s Who in the Rise of Autonomous Driving Startups.”

CB Insights selected the five by using its ‘CB Insights Company Comparison Tool’ to look at small, early-stage startups that have raised funds this year. (It chose to disregard Zoox because it has already raised $100 million with a goal of garnering more than $200 million.)

Each firm has its own zing but the term artificial intelligence regularly arises as core to its work. In brief:

  • Budapest-based AdasWorks develops advanced driver assistance systems software for vision, artificial intelligence and navigation technologies. It has raised more than $8 million from such investors as Bosch Venture Capital, Nvidia, and Draper Associates.
  • San Francisco-based comma.ai plans to sell an aftermarket autonomous kit so owners of standard vehicles can get in the game. It is led by George Hotz, and backed with $3.1 million from Andreesen Horowitz.
  • Artificial intelligence software creator drive.ai was founded by a group at Stanford University’s Artificial Intelligence Lab. It was recently granted a license to test its vehicles on California roads. It has raised $12 million from undisclosed investors.
  • Nauto is based in Palo Alto, Calif., and has raised nearly $15 million from Draper Nexus Ventures, Playground Global, others. Nauto says it is building the “onramp to autonomous driving” with its “artificial-intelligence powered” connected camera network utilizing the Cloud. Targets fleets, insurance companies, professional drivers.
  • MIT spinoff nuTonomy is in the midst of testing autonomous taxis in a Singapore business park. It has raised nearly $20 million from Fontinalis Partners, Samsung Ventures, others.

MINING TERABYTES

CB Insights chose the five startups after it “mines terabytes of data and knowledge contained in patents, venture capital financings, M&A transactions, hiring, startup and investor websites, news sentiment, social media chatter, hiring activity, and more.”

Photo: Mercedes-Benz R&D Center by Design Milk, 2015.