Drivers of electric vehicles will be able to get more than a caffeine load at select Starbucks locations this year.

Volvo Car United States said on Tuesday that it would be collaboration with Starbucks in a pilot project to add around 60 electric vehicle charging stations in 15 cafes starting this summer.

Locations will be scattered along the 1,350-mile route from Denver to Starbucks headquarters in Seattle. As Volvo finalizes exact locations, charging stations will be no more than 100 miles apart, the company said.

“We know there’s a gap in public charging, and our consumers don’t want to sit in the back of a dimly lit parking lot,” said Alex Tripi, Volvo Car USA program manager. Automotive News. “It’s a great opportunity to make sure it’s a controlled experience and give them the amenities they want and expect.”

Around four Volvo brands Charging point DC fast chargers will be installed in each of the Starbucks locations.

While all electric vehicle owners will be able to use the chargers, Volvo drivers will be able to use them for free or at a reduced price, the company said.

Volvo expects the installations to be completed by the end of 2022. Tripi said there is potential to expand to other Starbucks stores in the future if the launch is successful.

“You take a look and say, ‘OK, what’s a nice SUV [that] you have the freedom to plug in whenever you want, or to use gasoline?’” Herod said Automotive News After the meeting. “And I think consumers, you know, may want to switch to an electric vehicle in the future. I think they’re really moving towards the gateway vehicle. I think because the crossover market is so hot , the PHEV will serve this niche perfectly.”

The successful launch of the Outlander PHEV this year will be one of the main objectives of the new CEO of Mitsubishi Motors North America, Mark Chaffin.

Chaffin said the redesigned gas-powered Outlander that debuted last year was “on fire.” Outlander sales increased 24.9% in the United States in 2021 to 33,883, representing 33.2% of brand volume.

“We continue to improve Outlander,” Chaffin said. Automotive News. “It’s only been on the market for a year. We’re not sitting on our heels. We’re delivering great trim upgrades to dealerships. It’s going to keep customers engaged, keep customers watching.

“Outlander is going to continue to be a huge success, and when we launch the PHEV version of it, we’re going to attract a whole different group of customers.”

“Being able to expand our automotive footprint in the great state of Iowa is extremely exciting for our organization,” Teddy Morse, CEO of Ed Morse Automotive, said in a statement. “We look forward to making significant capital improvements and supporting the communities of Muscatine and DeWitt.”

The Ed Morse group is in expansion mode. In December, he purchased a Ford dealership in St. Robert, Mo., and entered Illinois with the purchase of Weir Chevrolet-Buick-GMC and Weir Ford, both from Red Bud, and Weir Chrysler-Dodge -Jeep-Ram in New Athens. . In July, Ed Morse Automotive purchased two dealerships in Texas, and in May entered Missouri with the purchase of four dealerships; the group also sold two dealerships in Florida that month.

Ed Morse now has approximately 30 franchised dealership rooftops in Florida, Illinois, Oklahoma, Missouri, Texas and Iowa.

It ranks No. 60 on Automotive News‘ most recent list of the top 150 US-based dealer groups, selling 14,169 new vehicles in 2020.

Jennifer Rafael of Dealer Solutions Mergers and Acquisitions, a Markham, Ont., buy-sell firm with offices in the United States, represented the seller in the transaction, according to the Ed Morse Group.

American demand for bigger and taller crossovers and SUVs gave automakers a ray of sunshine amid an otherwise dismal February sales month. The industry-wide inventory crisis caused by the continued shortage of semiconductor chips continues to weigh on retail sales.

Auto sales in February hovered just over one million cars and light trucks, down 12.4% from the same period in 2021, according to data from Motor Intelligence. More than half of overall February sales were crossovers and SUVs.

Of the seven automakers reporting monthly sales, only Mazda North America and the three Korean brands recorded increases, according to the Automotive News Research & Data Center. Hyundai brand sales were boosted in part by its strong lineup of crossovers and SUVs, all of which posted double-digit gains. Kia America’s SUV offerings also performed strongly in February.

January and February are historically slower months for vehicle sales as consumers retreat from winter weather and recover from holiday spending. But the current market is further challenged by bottoming consumer sentiment due to the “inflationary personal finance slump,” according to a survey by the University of Michigan. This mood, coupled with inventory constraints, contributed to weak February sales.

The seasonally adjusted annual rate, or SAAR, also fell – to 14.2 million sales from 15.2 million in January – according to data from Motor Intelligence.

Sales typically fall from January to February, but “even the slightest drop in sales can make a difference” in SAAR, said Jessica Caldwell, executive director of information for industry research firm Edmunds.

Edmunds predicts the industry will end the year at 15.2 million in sales.

Caldwell also said that because inventories remain so low for automakers, the industry’s road to recovery faces many ups and downs.

“So much is happening in factories in terms of logistics, all automakers will recover on different paths,” she said. “Ongoing inventory issues are concerning, but we’ve hit rock bottom.

“It’s going to get better, but not right away,” Caldwell predicted.

INCLINE VILLAGE, Nevada–(BUSINESS WIRE)–Kerrigan Advisors, the leading sell-side advisor and opinion partner to auto dealers nationwide, represented Earnhardt Auto Centers, based in Phoenix, Arizona, in connection with the sale of Earnhardt Buick GMC and from Earnhardt Mazda in Las Vegas to Jerry Seiner dealerships based in Utah. Earnhardt Auto Centers is one of the largest family-owned dealership groups in the United States and was named by Automotive News as the 23^rd Largest dealer group in the United States by 2020 new unit sales.

“Selling these stores was not an easy decision for our family, but it was the right one as we focus more on our very successful core stores in Arizona. Once again, Kerrigan Advisors not only identified a great new owner for the stores, but they also ensured a smooth and seamless transaction,” said Dodge Earnhardt, President of Earnhardt Auto Centers. “We are very grateful to the team at Kerrigan Advisors, especially Erin Kerrigan and Marie Brashears, for their hard work in ensuring the success of this sale.”

“It was an honor to represent the Earnhardt family and to work with their leadership team again,” said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors. “We were delighted to identify the right buyer for the valuable Las Vegas Earnhardt dealerships. The management team of Jerry Seiner and owner Chris Hemmersmeier recognized the value of entering the Las Vegas market with these franchises and the opportunity presented by the city’s tremendous economic expansion for continued sales growth.

Las Vegas is fertile territory for auto dealerships: Nevada’s auto retail market has grown 65% since 2008 and now totals $8.3 billion in overall dealer revenue. Las Vegas is home to 2.3 million people, is the 4^and MSA has the fastest growing in terms of population since 2017 and is one of the fastest growing metropolises in the United States. Additionally, Nevada is considered one of the most business-friendly states in the United States due to its friendliness, low taxes, and attractive operating costs.

“The Earnhardt dealerships were sold in a very competitive buy/sell landscape where buyer demand is high, particularly in growth markets. Las Vegas is just that: it’s booming and business-friendly,” said Ryan Kerrigan, Managing Director of Kerrigan Advisors. “In fact, the Centennial Market, where Earnhardt Buick GMC and Mazda Las Vegas are located, is one of the largest auto markets in Las Vegas. We are confident that The Jerry Seiner Group will continue the Earnhardt’s legacy of success with these franchises.

Kerrigan Advisors is the most active selling advisor on large deals in the automotive retail industry, achieving the highest selling price per customer of any firm for the past five years. The company attributes its success to its team’s laser-focused focus on achieving each client’s personal and professional goals. In addition to its sell-side advisory work, the company provides strategic advisory services to dealers and their families, including growth planning, capital raising and valuation analysis, creating value at every stage of the automotive retail life cycle.

Kerrigan Advisors monitors conditions in the buy/sell market and publishes in-depth analysis quarterly in The Blue Sky Report®, which includes blue sky charts, multiples and Kerrigan Advisors analysis for each franchise in luxury and non-luxury. segments. To download a preview of the report, click here. The company also publishes the Kerrigan Index monthly, comprised of the seven publicly traded automotive retail companies whose operations are focused on the US market. The Kerrigan Auto Retail Index is designed to track dealer valuation trends, while providing key insights into the factors influencing auto retail. To access the Kerrigan Index, click here. To read the 2021 Kerrigan Dealer Survey, Click here. Kerrigan Advisors is also a co-author of NADA’s A Dealer’s Guide to Buying and Selling.

About Kerrigan Advisors

Kerrigan Advisors is the premier sell-side advisor and thought partner to automotive dealerships nationwide. The firm advises the industry’s leading dealer groups, enhancing value throughout the lifecycle of growing, operating and, when the time comes, selling their businesses. Kerrigan Advisors has represented some of the largest automotive retail transactions and advised more of the largest dealer groups in the United States than any other buy/sell firm in the industry. Led by a team of seasoned industry experts with a background in investment banking, private equity, accounting, finance and real estate, the firm does not take listings, but rather develops a personalized approach to each client to achieve their personal and financial goals. In addition to Kerrigan Advisors advisory and capital raising services, the firm also provides a suite of advisory services including growth strategy, market valuation assessments, capital allocation, transactional due diligence, proposals open points, operational improvement and real estate due diligence. .

Analysts expect O’Reilly Automotive, Inc. (NASDAQ:ORLY – Get a rating) will show earnings per share (EPS) of $7.40 for the current quarter, Zacks reports. Eight analysts released earnings estimates for O’Reilly Automotive, with estimates ranging from $6.73 to $8.47. O’Reilly Automotive reported earnings per share of $7.06 in the same quarter last year, suggesting a positive year-over-year growth rate of 4.8%. The company is expected to release its next results on Wednesday, April 27.

On average, analysts expect O’Reilly Automotive to report full year earnings of $32.82 per share for the current year, with EPS estimates ranging from $31.00 to $34.20 . For the next fiscal year, analysts expect the company to report earnings of $36.94 per share, with EPS estimates ranging from $33.80 to $39.55. Zacks’ EPS calculations are an average average based on a survey of research companies that cover O’Reilly Automotive.

O’Reilly Automotive (NASDAQ: ORLY – Get a rating) last released its quarterly results on Wednesday, February 9. The specialty retailer reported earnings per share of $7.64 for the quarter, beating the consensus estimate of $6.05 by $1.59. O’Reilly Automotive had a return on equity of 3,880.90% and a net margin of 15.85%. During the same period of the previous year, the company achieved EPS of $5.40.

ORLY has been the subject of several research analyst reports. Wedbush raised its target price on O’Reilly Automotive from $650.00 to $660.00 and gave the company a “neutral” rating in a Thursday, February 10 research report. DA Davidson raised its target price on O’Reilly Automotive from $640.00 to $700.00 and gave the company a “neutral” rating in a Thursday, Dec. 30 research report. Truist Financial raised its price target on O’Reilly Automotive from $796.00 to $837.00 and gave the company a “buy” rating in a Friday, Feb. 11 research report. Wells Fargo & Company raised its price target on O’Reilly Automotive from $715.00 to $780.00 in a Wednesday, Jan. 5 research report. Finally, Edward Jones downgraded O’Reilly Automotive from a “buy” rating to a “hold” rating in a Wednesday, Jan. 5 research report. Ten equity research analysts gave the stock a hold rating and nine gave the company a buy rating. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $699.72.

Shares of NASDAQ ORLY traded at $17.55 in Friday’s midday session, hitting $654.71. The company’s shares had a trading volume of 404,022 shares, compared to its average volume of 574,333. The company has a market capitalization of $44.11 billion, a P/E ratio of 22.69, a price to earnings growth ratio of 1.54 and a beta of 1.01. The company has a current ratio of 0.76, a quick ratio of 0.15 and a debt ratio of 17.57. O’Reilly Automotive has a 12-month low of $446.19 and a 12-month high of $710.86. The company’s 50-day moving average is $668.18 and its two-hundred-day moving average is $640.70.

In other O’Reilly Automotive news, SVP Jeffrey Alan Lauro purchased 80 shares of O’Reilly Automotive in a trade that took place on Wednesday, February 23. The shares were acquired at an average price of $630.00 per share, for a total transaction of $50,400.00. The acquisition was disclosed in a legal filing with the SEC, available at this link. Insiders own 2.11% of the shares of the company.

Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Asset Management One Co. Ltd. increased its stake in O’Reilly Automotive by 2.6% in the third quarter. Asset Management One Co. Ltd. now owns 39,960 shares of the specialty retailer valued at $24,417,000 after purchasing an additional 1,006 shares during the period. Schroder Investment Management Group increased its stake in O’Reilly Automotive shares by 10.8% in the third quarter. Schroder Investment Management Group now owns 275,493 shares of the specialty retailer worth $168,342,000 after purchasing an additional 26,804 shares during the period. Beese Fulmer Investment Management Inc. increased its stake in O’Reilly Automotive shares by 0.5% during the third quarter. Beese Fulmer Investment Management Inc. now owns 22,039 shares of the specialty retailer worth $13,467,000 after purchasing an additional 120 shares during the period. NatWest Group plc increased its stake in O’Reilly Automotive shares by 2.9% in the third quarter. NatWest Group plc now owns 9,786 shares of the specialty retailer worth $5,979,000 after buying an additional 278 shares during the period. Finally, Elevated Capital Advisors LLC purchased a new stake in O’Reilly Automotive stock during Q3 for $1,956,000. Institutional investors and hedge funds hold 79.77% of the company’s shares.

About O’Reilly Automotive (Get a rating)

O’Reilly Automotive, Inc. owns and operates outlets in the United States. It is engaged in the distribution and retail sale of automotive parts, tools, supplies, equipment and accessories in the United States, serving professional installers and DIYers. The company provides new and reconditioned auto parts, including alternators, starters, fuel pumps, water pumps, brake system components, batteries, belts, hoses, regulators temperature, chassis and engine parts, maintenance items including oil, antifreeze, fluids, filters, lighting products, engine additives and appearance products, and accessories, such as as floor mats, seat covers and truck accessories.

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Superpedestrian designs and builds its Link electric scooters for shared use in 59 cities in 10 countries in the United States, Europe and Turkey. There are 35,000 Link scooters worldwide. The company designs and engineers the vehicles in Cambridge and builds them in China.

“Over the past two years, infrastructure issues and lack of equitable access to public transit options in urban and suburban communities across the United States have underscored the need to develop safe and reliable transportation options for all,” Meredith Shields, head of the Citi Impact Fund, an investor in Superpedestrian, said in a written statement.

Superpedestrian’s Link electric scooter was launched in 2020 using its patented artificial intelligence technology, called Vehicle Intelligence, which manages the internal electronics of the scooter. It identifies problems and solves them in real time, avoiding costly repairs or safety risks.

The company announced in 2021 its newest patented artificial intelligence technology, called Pedestrian Defense, which helps prevent dangerous scooter riding habits, such as rolling on sidewalks, making aggressive turns, doing stunts or riding at countercurrent. This driver behavior analysis technology can take control of the scooter to slow it down or stop it when it detects unsafe driving based on city regulations. So far, Superpedestrian has only demonstrated pedestrian defense for city planners, but says it will be incorporated into the operating system of its scooters this year for consumer use.

“While overall the safety benefits of micromobility are clear, there is the challenge of how to prevent them from encroaching on pedestrian rights of way,” said Paul Steely White, senior director of public affairs. Automotive News. “Some cities want to see a hard stop when the scooter hits the pavement, but [many] cities would prefer that we notify the endorsement and follow up with them. We are able to adapt it to the needs of a city.”

The new funding will allow Superpedestrian to build scooters with onboard pedestrian defense technology and adapt the company’s patented AI technologies for customers outside of the e-scooter space, White said, although he does not provide details.

LMP “has not incurred any material termination penalties as a result of this termination”, it’s written in the file. This The purchase agreement included a $250,000 earnest money deposit, according to an August regulatory filing, and it was unclear as of last week who received that money. J. Chantz Scott, CEO of Chantz Scott Auto Group, did not respond to requests for comment.

In a regulatory filing on Friday, LMP said its $29 million agreement to buy property in Elmsford, NY, to relocate and expand one of its dealerships in New York was terminated. LMP, in the filing, said the termination of the agreement did not include any “material termination penalty.”

Whether LMP will lose earnest money deposits in other transactions that are removed – with at least one seven-figure deposit – is murky, as it depends on the specific contingencies of each agreement and whether or not of a default, according to dealer attorney Leonard Bellavia, a partner at the Bellavia Blatt law firm in Mineola, NY

Tawfik and LMP chief operating officer Richard Aldahan did not respond to requests for comment, nor did the company’s lead independent director.

Of the pending deals, the largest in terms of roofs included the purchase of an 85% stake in 10 new vehicle dealerships, a used car center and a fleet operations outlet. Alan Jay Automotive Network in Florida. LMP was going to pay $50 million for dealer goodwill and about $44.1 million for real estate.

Seller Alan Wildstein declined to comment, as did Ryan Kerrigan, the seller’s broker and managing director of sales firm Kerrigan Advisors in Irvine, California.

Another of his pending deals was the planned $9 million+ purchase of Kia of East Hartford, Connecticut from Joseph Klimas Jr. and K&W Enterprises.

Broker Gordon Wisbach Jr., president of GW Marketing Services in Newton Center, Mass., said Automotive News that his client wants to retire. The deal was originally announced in July and the parties extended the closing date by a few months and agreed to a higher purchase price, Wisbach said. Wisbach declined to disclose that amount.

“It’s a shame because Sam really wants to do this,” Wisbach said. “We enjoyed working with him to buy the store. It’s disappointing that he couldn’t get the financing.”

Wisbach thinks he can find another buyer. And another broker thinks other sellers with canceled LMP offers will be too.

“It’s still one of the busiest times in M&A history,” said Dave Cantin, CEO of Dave Cantin Group, whose firm DCG Acquisitions represented a seller in a deal with LMP that n did not succeed. “With recent historic earnings, all sellers involved in one of LMP’s transactions will hopefully find a suitable new buyer who has the ability to execute a successful close.”

End of December, Tawfik said in a press release that LMP had “engaged Bank of America” ​​to help refinance its debt, and this month said in another statement that LMP was working with “potential lenders to provide the necessary debt financing” for acquire the dealers.

In his Press release this week, LMP said its board believes its stock price is undervalued; Tawfik owns about 35% of LMP shares, according to the company’s December proxy statement.

LMP shares fell 26% from the Tuesday February 15 close before the news at $4.95 on Thursday February 17; a year earlier, shares were trading above $20.

“Some of the big public companies are making very large acquisitions, and that tends to sway investors, but in this case, [LMP] never really had the capital base to be as aggressive as them,” said Sheldon Sandler, CEO of Bel Air Partners, a buy-sell advisory firm in Hopewell, NJ, which wrote on LMP but is not involved in any transaction with the company.

Sandler said if LMP were to sell its existing dealerships, he would expect it could get a good price for them given the overall strength of the buy-sell market.

LMP itself could likely have several suitors, and not just the country’s big six publicly traded dealer groups, said David Whiston, an analyst at Morningstar in Chicago who covers public auto retailers but not LMP. Whiston said auto retail consolidation has created dealer buyers in large and medium-sized private groups.

At the end of September, LMP had $29.7 million in cash, of which approximately $10.9 million was restricted cash.

In the first three quarters of 2021, LMP generated net income of $1.1 million. The company expects to release its fourth quarter results on March 31.

In October, LMP purchased an aircraft, spending around $5.6 million, according to a regulatory file. He signed a five-year, $3.2 million note for the plane, and monthly payments of $32,435 were to begin in December, guaranteed by Tawfik. To help pay for the plane, LMP received $2 million via a line of credit from ST RXR Investments, a related company owned by Tawfik. This line of credit was scheduled to mature on Nov. 21, 2021, and required payment either on that date or on demand, depending on the filing.

It is not clear from the regulatory filing why LMP purchased the aircraft.

“No investor, no lender, is going to look at this plane and think it’s good corporate governance,” said UM professor Gordon. “It’s a bad signal. It’s not #1 – it’s not #10 – good use of money for this company.”

Vehicle rental company Hertz, however, revealed in October that it would sell some vehicles through Carvana. And in a letter to shareholders in November, Carvana executives wrote that “vehicles sold by the [Hertz] partnership will be listed on Carvana’s online marketplace and will be realized through our operations.”

It’s unclear who the other market participants are, although some franchise dealer executives, including Martin-Clark, said Carvana offered dealers to participate.

Analysts who cover Carvana said Automotive News that the program could be a way to swell the retailer’s inventory at a time when used vehicles are in high demand and hard to find, given ongoing inventory shortages. Analysts say the market has the potential to grow, but it also carries a risk for the Carvana brand if a transaction with a third party creates problems for consumers.

For dealers, partnering with a company such as Carvana that has a well-developed digital infrastructure could be a way to participate in the expansion of online retail without having to make significant investments on their own, some analysts said.

“This makes the most sense for small resellers and small chain stores, such as reseller groups with one to two stores, who don’t have the bandwidth or capacity to invest in an online offering or a digital retail solution,” said Rajat Gupta, equity research analyst covering US auto retailers for JP Morgan. “Listing their car on the Carvana website gives them that exposure to the consumer. “

Yet there are also risks for dealerships, some analysts said, including the fact that listing their inventory on Carvana’s website could send more customer traffic to Carvana than to their own websites or physical lots.

VIENNA–(BUSINESS WIRE)–TTTech Auto, a Vienna-based technology leader in automotive safety software, raised $285 million (€250 million) from Aptiv PLC (NYSE: APTV) and Audi in its last round of funding. Aptiv is investing $228 million (€200 million), while Audi is increasing its existing stake by $57 million (€50 million). With this latest round of funding and a valuation of over $1 billion, TTTech Auto confirms its strong position among a growing number of automotive tech unicorns. The transaction is subject to regulatory approval and is expected to close within the next two months.

With Aptiv, another highly successful and significant technology leader is part of TTTech Auto’s blue chip shareholder base alongside Audi, Samsung Electronics, Infineon Technologies and the founder-led TTTech Group. This underscores the company’s strong position with its security software platforms in the emerging automotive software-defined mobility space and the value it brings to the market.

This investment will enable TTTech Auto to accelerate progress in three strategic areas: expanding its product portfolio for automakers and technology partners, expanding internationally in key regions, and expanding capabilities through mergers and strategic acquisitions and product investments.

Expanded product portfolio: TTTech Auto will apply the new funding to its flagship product, the MotionWise safety software platform, to help automakers shorten development cycles for software-defined cars, while ensuring safety across all car functions. To date, around two million vehicles are already driving safely thanks to MotionWise. The security platform will be delivered as an open, modular and standards-based platform. Specific tools will enable automakers to dramatically speed up the software development process from the idea stage to mass production, including live, aftermarket feature updates.

Growth in key regions: Over the next few years, TTTech Auto plans to create hundreds of additional high-tech jobs around the world. Expansion plans include international growth with a strong focus on Asia. In China, TTTech Auto already operates the Technomous joint venture with SAIC Motor Corporation, China’s largest automaker in this increasingly important automotive market. TTTech Auto will hire talent in software and security engineering, strategic product management and business development in Europe, North America and Asia.

Build leadership capabilities in security technologies: TTTech Auto will continue its M&A strategy by acquiring complementary products, technologies and services to meet the ever-increasing safety needs of automakers as the industry reaches new levels of automation on the road to autonomous driving and the complexity of the car’s software functions. increases.

Georg Kopetz, CEO, TTTech Auto: “The next few years will be crucial for the entire industry in the transition from automation to semi-autonomous driving and the software-defined vehicle. With MotionWise, we support this industry transformation as an independent company with the most advanced security software platform on the market. This funding will strengthen our leadership position in automotive safety software and significantly increase our global footprint. »

Kevin Clark, President and CEO, Aptiv: “Since 2017, Aptiv and TTTech Auto have successfully deployed security software systems in vehicles of various Volkswagen Group brands. TTTech Auto’s expertise in providing end-to-end real-time behavior for safety-critical systems complements our software platform to accelerate development, integration, testing and validation. This investment advances our software strategy and adds to Aptiv’s comprehensive capabilities, enabling customers to democratize advanced security systems faster and at lower cost.

Marcus DuesmanCEO, AUDI AG: “Audi and TTTech Auto have a long-standing strategic partnership in the development of automated driving technology. We now look forward to expanding this successful cooperation as TTTech Auto partners with Aptiv to enhance its capabilities and accelerate the commercialization of its automated driving technology. Together with the software company CARIAD of the Volkswagen Group, Audi is pushing the introduction of this technology at full speed and TTTech Auto is an important partner on this path.

Aptiv, Audi and TTTech Auto have a common track record: the three companies worked together on Audi’s central driver assistance controller for automated driving. The successful collaboration on this platform was rewarded with the Automotive News PACE award in 2019.

Advisors

JP Morgan AG was sole placement agent for TTTech Auto and DORDA Rechtsanwälte GmbH acted as legal advisor.

Goldman Sachs & Co. LLC acted as financial advisor to Aptiv and Clifford Chance Partnerschaft mbB and Binder Grösswang Rechtsanwälte GmbH advised Aptiv on the legal aspects of the investment.

Freshfields Bruckhaus Deringer Rechtsanwälte PartG mbB, Vienna advised Audi on the legal aspects of the transaction.

Media material

Images and background information are available under the following link:

https://fs.tttech.com/index.php/s/uXy1D2CZvG8v4IZ

– Portrait Georg Kopetz, CEO of TTTech Auto

– Profile Kevin Clark, CEO of Aptiv

– Portrait Markus Duesmann, CEO AUDI AG

– Visual: TTTech Auto + APTIV + Audi Cooperation

– Visual: TTTech Auto – MotionWise

– Visual: TTTech Auto – technology leader in automotive safety software

About TTTech Auto

TT Tech Auto provides solutions to the challenges of future generations of vehicles. The company specializes in secure software and hardware platforms for automated driving and beyond, applicable in mass production programs. With its advanced technological solutions, TTTech Auto ensures safety and electronic robustness for a more automated world.

TTTech Auto was founded in 2018 by the TTTech Group and technology leaders Audi, Infineon and Samsung with an initial investment of €75 million from Samsung to build a global and safe automotive software platform for automated and autonomous driving. At TTTech Auto’s headquarters in Vienna, Austria, and more than 10 locations in Europe, the United States and Asia, 1,200 employees work with a number of major automakers on their ADAS and autonomous driving programs. The company has in the past acquired technology companies in Spain, Turkey and Central and Eastern Europe. www.tttech-auto.com

About Aptiv

Aptiv PLC is a global technology company that develops safer, greener and more connected solutions enabling a more sustainable future of mobility. With more than 180,000 employees strategically located to serve customers worldwide, Aptiv solves the industry’s toughest challenges with scalable, intelligent platforms that accelerate the transition to software-defined electric vehicles. To learn more about the company’s unique brain and nervous system portfolio and commitment to sustainability, visit aptiv.com.

About Audi

the Audi Group is one of the most successful automobile and motorcycle manufacturers in the premium and luxury segments. Together with its brands Audi, Ducati, Lamborghini and, since January 1, 2022, Bentley, it constitutes the group of premium brands within the Volkswagen group. Its brands are present in more than 100 markets worldwide. Audi and its partners produce automobiles and motorcycles at 21 sites in 13 countries.

In 2021, the Audi Group delivered approximately 1.681 million Audi-branded cars, 8,405 Lamborghini-branded sports cars and 59,447 Ducati-branded motorcycles to customers. More than 85,000 people worldwide work for the Audi Group, including around 58,000 in Germany. With its attractive brands, new models, innovative mobility offers and forward-thinking services, the premium brand group is steadily pursuing its path to becoming a provider of sustainable, individual and premium mobility.