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While the Fed Monitors the ‘Ukraine Situation Closely,’ Powell Still Expects a Series of Quarter-Point Rate Hikes
Federal Reserve chairman Jerome Powell still expects to see interest rate hikes starting in March, but the Fed chief further stressed that the central bank will “need to be nimble.” In remarks prepared for members of U.S. Congress, Powell discussed the Russian invasion of Ukraine, noting that the “implications for the U.S. economy are highly […] BYD Partners with Nuro to Manufacture All-Electric Autonomous Delivery Vehicle
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"BYD will leverage the manufacturing capacity of our Lancaster plant by finishing assembly of globally sourced hardware components to support Nuro and bring more jobs to the community," said Stella Li, Executive Vice President of BYD Co. Ltd. and President of BYD North America, "Together we will build this autonomous delivery vehicle, with the mutual goal of creating a safer environment on streets across the United States."
Today's announcement follows Nuro's $600 million Series D funding round which closed in Q4 2021 and was led by Tiger Global Management with participation from other investors.
Combining both partners' advanced technology, Nuro's third-generation autonomous delivery vehicle will feature greater payload and new safety technologies. With twice the cargo volume of Nuro's current R2 model, the automotive production grade vehicle will also feature modular inserts to customize storage and new temperature-controlled compartments to keep goods warm or cool. Safety enhancements include an external airbag to further improve safety for pedestrians outside the vehicle, as well as a multi-modal sensing suite, including cameras, radars, lidar, and thermal cameras, creating a redundant 360-degree view of the world.
Nuro was founded in 2016 by Jiajun Zhu and Dave Ferguson, former principal engineers of Google's self-driving car team. Specializing in developing zero-occupant vehicles designed specifically for transporting goods and not passengers, Nuro has launched two generations of autonomous vehicles, introduced delivery service with industry leaders including Domino's, Kroger, and 7-Eleven, and announced a multi-year partnership with FedEx.
"BYD is one of the largest OEM networks of electric vehicles in the world, and we are thrilled to partner with them to help us move one step closer to scaled commercial operations," said Jiajun Zhu, Nuro co-founder and CEO. "We look forward to transforming the hardware components of BYD's globally sourced electric vehicle platform into innovative autonomous vehicles capable of operating on public roads at our new facility here in America. Through our partnership with BYD, we plan to produce autonomous vehicles at scale that can improve road safety, air quality, and overall access to goods."
As a leader in the NEV industry, BYD has innovated rich technologies in the field of electrification. In this project, BYD is jointly working with Nuro on vehicle development, and is responsible for vehicle manufacturing and initial vehicle testing, and provides hardware like the Blade Battery, electric motors, electronic controls, and displays for human-machine interaction. Nuro integrates technologies such as autonomous driving, control modules and sensors. BYD will finish assembly of the hardware platform at its Lancaster plant in the United States using globally sourced components. Nuro will then complete the vehicle manufacturing process by installing and testing the autonomy systems that will make the platform capable of operation at the company's new facilities in southern Nevada.
About BYD
BYD (Build Your Dreams) is a multinational high-tech company devoted to leveraging technological innovations for a better life. BYD now has four industries including Auto, Electronics, New Energy, and Rail Transit. Since its foundation in 1995, the company quickly developed solid expertise in rechargeable batteries and became a relentless advocate of sustainable development, successfully expanding its renewable energy solutions globally with operations in over 50 countries and regions. Its creation of a Zero Emissions Energy Solution, comprising affordable solar power generation, reliable energy storage, and cutting-edge electrified transportation, has made it an industry leader in the energy and transportation sectors. BYD is a Warren Buffet-backed company and is listed both on the Hong Kong and Shenzhen Stock Exchanges. More information on the company can be found at http://www.byd.com.
Contact:
Asia-Pacific: Mia Gu, [email protected], tel: +86-755-8988-8888-69666
Europe: Penny Peng, [email protected], tel: +31-102070888
North America: Frank Girardot, [email protected], tel: +1 213 245 6503
Latin America: Sofia Mardones, [email protected], tel: +56 9 9821 6851
Brazil: Adalberto Maluf, [email protected], tel: +19 3514 2554
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comBYD Co., Ltd. announced its partnership with leading autonomous vehicle company Nuro to begin producing the company's third-generation electric autonomous delivery vehicle. The partnership is expected to scale Nuro's more affordable, eco-friendly, and convenient services to millions of people across the country.
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