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Upstream Security: cyber hacks could cost auto industry $24 billion within 5 years

Green Car Congress

Cyber hacks might cost the auto industry roughly $24 billion within five years, according to a new study by Upstream Security , which specializes in cloud-based security protection. With every new service or connected entity, a new attack vector is born. The risk is immense. Just one cyber-hack can cost an automaker $1.1

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Volkswagen Group’s new Future Tracks program targeting digitalization era in auto industry; “James 2025”

Green Car Congress

Dieter Kempf, President of BITKOM, the IT industry Association, Winterkorn declared that the increasingly intensive networking of cars with their surroundings and automatic driving would be the key topics for the intelligent mobility of the future. Information technology has been a key component of the automobile industry for some time.

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CAR report quantifies automotive’s position as a leading high-tech industry

Green Car Congress

Percentage of Global R&D Spending by Industry, 2013. A newly-released report by the Center for Automotive Research (CAR) concludes that the automotive industry is not only “high-tech,” it is frequently a leader in technological developments and applications. Click to enlarge. —Center for Automotive Research. Click to enlarge.

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DOT awards U-M-led hub $15M for connected and automated transportation

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The US Department of Transportation has awarded a $15-million grant to renew the Center for Connected and Automated Transportation (CCAT), based in Ann Arbor and led by the University of Michigan. Platooning connected and automated freight trucks to reduce traffic delays and wear and tear on roads.

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Center for Automotive Research calls long-run economic risk to auto industry of mandating permanent fuel economy standards very serious; recommends periodic reviews

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Based on the results of the study, CAR believes the economic risk to the auto industry connected to mandating permanent fuel economy standards in the long run is “ very serious ” The group recommends periodic review to assess the rate of technology development and cost reduction of advanced technologies leading up to 2025.

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SiriusXM buying connected vehicle unit of Agero for $530M

Green Car Congress

Sirius XM Radio has entered into a definitive agreement to acquire the connected vehicle services business of Agero, Inc. The acquisition of Agero’s connected vehicle business is a natural fit for Sirius XM. Morgan Stanley acted as financial advisor to SiriusXM in connection with this transaction. for $530 million in cash.

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Ford CEO: Ford to focus on 5 key areas of innovation: mobility, autonomy, connectivity, customer experience and performance

Green Car Congress

Fields said that Ford’s investments in products, people, plants and technology, combined with industry growth, are not only delivering a year of growth in terms of revenue, pricing power, operating margins and profitability in 2014, but are setting the stage for growth in and beyond 2015. That’s a tremendous amount of growth. Earlier post.).

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