Day: November 5, 2021

Auto Industry Playing Each Sides In 2020 Election

Car & Automotive,automotive industry,Car & Mechanical,Car & Classic,motorcycleMany of the modifications occurring within the automotive market in the present day, including tightened credit markets in a capital-intensive industry and increased government involvement are the most recent world challenges. While an electrical automobile’s energy supply shouldn’t be explicitly an on-board battery, electric cars with motors powered by other vitality sources are sometimes referred to by a unique name. An electrical automotive carrying solar panels to energy it’s a photo voltaic car , and an electric automobile powered by a gasoline generator is a form of hybrid automotive Thus, an electrical automotive that derives its energy from an on-board battery pack is a form of battery electric automobile (BEV). Most often, the time period “electrical automobile” is used to seek advice from battery electrical vehicles, but can also check with plug-in hybrid electrical autos (PHEV).

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Connected Car Weekly: Touchless Rentals

Connected vehicles and the data they generate continue to be put to new uses. This week saw the announcement of some new applications that are being developed or expanded. Among them are technology that makes renting a car a completely digital experience, an initiative to pilot autonomous electric haulers in a quarry, and connected car data that notifies both the driver and a repair shop if a vehicle needs service.

Automotive Data Companies Developing Vehicle Health Notifications

Connected cars may soon notify both the driver and a repair shop if the vehicle needs service. That’s one of the applications of connected car data being developed by a partnership between connected vehicle data company Wejo and diagnostics and automotive data provider Hella Guttman Solutions. The two companies announced the tie-up in a press release and video released Thursday (Nov. 4).

“The Hella-Wejo partnership is enabling amazing outcomes for drivers like you

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CARS Acquires CreditIQ Automotive Fintech Platform, Enabling Instant Financing For Consumers, Dealers and Lenders | News

CHICAGO, Nov. 4, 2021 /PRNewswire/ — Cars.com Inc. (NYSE: CARS) (“CARS” or the “Company”), a leading automotive marketplace platform that provides a robust set of industry-specific digital solutions, announces it has signed a definitive agreement to acquire CreditIQ, a cutting edge automotive fintech platform that provides instant online loan screening and approvals to facilitate online car buying. Consideration for the transaction will be $30 million at closing, funded using cash on hand, with the potential for up to an additional $50 million in performance-based cash consideration to be earned over the next three years. The transaction is expected to close this month.

“The acquisition of CreditIQ technology facilitates CARS’ entry into the rapidly-growing, multi-billion dollar Auto Finance market, expanding our TAM beyond the $35 billion Auto Advertising and Dealer Technology markets we operate in today. We’re excited to participate in this space with powerful digital solutions for dealers that

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