Industry Archives: Transport Equipment

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Innovative Chinese Drone Maker Gets $10M Boost To Go Mainstream

Forbes
The year got off to a big start, with one of the more interesting startups around — a Chinese drone maker named EHANG — getting funding to the tune of $10 million from US and China venture investor GGV Capital and two prominent angel investors, Nick Yang and Xiaoping Xu.

Derrick Xiong, a co-founder of EHANG, is on a mission to make personal drones mainstream. The first rounding funding should be a boost for the innovative startup, which got its start through a crowd-funding campaign on Indiegogo last November. EHANG raised $600,000 on Indiegogo for its so-called Ghost Drone product.

The Ghost Drone has its innovations. It’s controlled by a smartphone app, and a tilt control feature lets users to control their Ghost Drones by tilting their smartphone. Take off, hover, return and land are all pre-programmed on the app and the Ghost Drone doesn’t require any assembly – talk about Chinese ingenuity!
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Google Buys High-Altitude Drone Maker

NY Times April 14, 2014
Google is reaching for the clouds, and not the virtual ones. On Monday, the company said that it had purchased Titan Aerospace, the maker of high-altitude drone satellites, which will be used to take photos of the earth and to connect people to the Internet.

“Titan Aerospace and Google share a profound optimism about the potential for technology to improve the world,” a Google spokesman said in a statement. “It’s still early days, but atmospheric satellites could help bring internet access to millions of people, and help solve other problems, including disaster relief and environmental damage like deforestation.” The news was first reported by The Wall Street Journal. Terms of the deal were not disclosed.

While it may sound like a lofty goal, it’s one that Google shares with a competitor. Facebook, recently acquired Ascenta, based in Britain, that makes a similar type of drone. Earlier reports had said that Facebook was in talks to by Titan Aerospace.
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Facebook In Talks To Acquire Drone Maker Titan Aerospace

TechCrunch March 4, 2014
Facebook, one of the primary backers of the Internet.org initiative, which aims to bring affordable Internet access to the 5 billion people in the world who still lack connectivity, is in talks with a company that could help further that agenda. Continue Reading →

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Peugeot mulls Faurecia sale with Dongfeng tie-up

LONDON/SHANGHAI, Nov 15 (Reuters) – French carmaker PSA Peugeot Citroen is preparing for a possible sale of its Faurecia components division to accompany a tie-up with China’s Dongfeng Motor Group Continue Reading →

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VEB to Bail Out Airplane Manufacturer Sukhoi By Selling EADS Stake

The Moscow Times
The government has changed tack in its efforts to save the Russian civil aviation industry. Continue Reading →

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Apollo Tyres set to acquire US-based Cooper Tire & Rubber

Business Standard
Apollo Tyres is set to acquire the US headquartered Cooper Tire & Rubber Company, making the company global player with 14 plants spread across India, the United States, China, Europe and Mexico, Continue Reading →

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China’s Beijing Auto buys smaller rival to boost production

Reuters
China’s state-owned vehicle manufacturer Beijing Automotive Group Co Ltd said on Wednesday it had agreed to buy smaller domestic firm Zhenjiang Automobile to help it meet its target to double production by end-2015. Continue Reading →

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UMMC to Buy Czech Aircraft Manufacturer

Moscow Times
Ural Mining and Metallurgical Company will become the full owner of Czech aircraft manufacturer LET after putting a deal in place to buy Pamco’s 49-percent stake in the company Continue Reading →

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Audi Dealership Sunfonda Said to Plan $150 Million Hong Kong IPO

Business Week 27 June 2013
Sunfonda Group, a Chinese auto dealership that sells Audi cars, plans to raise about $150 million in a Hong Kong initial public offering Continue Reading →

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Precision Castparts says to buy Permaswage for $600 million

Reuters 27 June 2013
Precision Castparts Corp said it would buy France’s Permaswage SAS for $600 million to expand its product range of airplane components Continue Reading →

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