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Coachbuilder, Gemilang Coachwork Sdn Bhd, will be using simulation solutions from Altair to increase the safety of its products. Gemilang Coachwork is a subsidiary of Hong Kong-listed Gemilang International Limited, that designs and manufactures bus bodies.

Headquartered in Johor Bahru, Gemilang Coachwork has been designing and manufacturing a range of aluminium and steel bus bodies (SKDs and CKDs), and assembling buses (CBUs) for over 3 decades. In addition to its home market, Malaysia, Gemilang’s quality products have been exported to more than 10 markets in Asia, including Singapore, Australia, Hong Kong, China and India.

MAN_Double Decker BusWith global public transport operators placing greater emphasis on passenger safety and security, Gemilang Coachwork will make use of Altair’s solutions to boost passenger safety for commercial buses and coaches by capitalising on simulation technologies. With this agreement, Altair will provide its industry-leading simulation solution to help Gemilang automate bus rollover crash tests. This will help generate critical data for Gemilang engineers to build and design safer commercial vehicles.

“As road safety is one of the most important issues in sustainable transportation, Gemilang’s goal is to design and produce reliable commercial buses and bodies that meet both technical and safety requirements, locally and internationally,” said Mohsen Hamidipour, Research and Development Manager of Gemilang. “The collaboration with Altair enables us to strengthen our market leadership by ensuring our products meet the highest quality, reliability, and safety standards.”

Gemilang Coachwork_Bus_Coachbuilder“We firmly believe that everyone travelling on public transportation should feel safe and secure. That’s why testing is a crucial component in the entire product lifecycle – from design and product development to manufacturing,” added Hamidipour. “By collaborating with Altair, our engineers can now perform unlimited crash tests in virtual simulations for all critical safety-related parts to ensure that they meet all the crash and stiffness regulations.”

“We are happy to be involved in the Gemilang project, a very exciting next-generation project,” said Srirangam Srirangarajan, Altair’s Managing Director for Southeast Asia, Australia and New Zealand. “With a track record spanning more than 35 years in product design, advanced engineering software, data analytics, and cloud computing technologies, Altair looks forward to advancing Gemilang’s leadership in passenger safety.”

Altair_Bus Rollover Simulation“Virtual crash tests are often perceived as one of the most expensive and time-consuming tasks for many automotive manufacturers. Altair’s enterprise simulation solution for vehicle crash has become the global standard and it is fully-compliant with the UN ECE R66 Standard,” said Srirangarajan. “By applying simulation technologies upfront in the vehicle development process, Gemilang engineers will now gain valuable data to eliminate any potential safety issues to improve passenger safety while also making the vehicle more efficient and reliable.”

Altair has been serving the Malaysian market for nearly ten years, providing a rich portfolio of advanced engineering software and on-demand computing technologies to industry and government clients.

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Scania is encouraging customers to use its Data-Driven Services, a smart solution that helps to achieve better uptime, profitability and sustainability. In the tech-driven world, the new age of logistics is reliant on data for efficiency and improve business operations. This can be achieved by implementing the right technology to get the right data.

Scania Fleet Care_Cost Revenue Simulation_MalaysiaAs such Scania offers customers a suite of packages to help them make better and more informed fleet management decisions. Scania is all about driving the shift towards a sustainable transport system via data. Every Scania made is full of smart technology, advanced sensors and wireless connectivity. These hundreds of thousands of constantly connected vehicles and engines in use all over the world today provide data that doesn’t only improve Scania’s engineering, but are created and offered as packages that provide customers with direct business value.

Benefits of using data management systems cover a wide range include lowering fuel consumption, reducing wear and maintenance needs, and automating tedious administrative work. This can also apply to customers who operate a mixed fleet, and is not strictly exclusive to Scania vehicles.

18297-278All Scania vehicles already come with a 10-year free subscription to the Monitoring Package. With this, Scania customers will receive a Fleet Management System vehicles report and get Service Planning access. Further, if this is upgraded with the Control Package, customers can get reports on Advanced Vehicle Performances, Driver Evaluation, Service Planning and Fleet Positioning updates based on 1-minute intervals.

Scania_Fleet Management Portal_MalaysiaWith the Data Access Package: Service Planning, customers will also receive basic vehicle data, featuring dates and status of scheduled Scania workshop services on system via API. Coupled with the Data Access Package: Location, the additional function of Fleet Position detailing longitude, latitude and speed on vehicles via API will be available.

Meanwhile, the Scania Zone: Speed Control package includes speed restrictions or compliance pre-sets that apply upon the vehicle entering a designated geofencing zone. Further, drivers and operators can also get the Virtual Coaching service and receive Driver Evaluation plus Service Planning via the Scania Fleet mobile app and Fleet Management Portal through Driver Evaluation with Virtual Coaching package.

Scania Data Driven ServicesCustomers with an older fleet are not left out as Scania has the Retrofit Communicator package. Scania can retrofit trucks, buses and coaches with the Scania Fleet Management System vehicle interface.

And in conjunction with the Scania First 50 Years celebration in Malaysia, drivers who subscribe to the Driver Training and Coaching Services will receive a complimentary exclusive F50Y polo tee. This offer is valid for a limited period.

“Big data is king. As we celebrate the First 50 Years in Malaysia (F50Y), we are proud to continue to drive the shift towards a sustainable transport system, using it. Scania Data-Driven Services will support our customers in the next 50 years and beyond, towards better uptime, profitability and sustainability,” said Heba El Tarifi, Managing Director of Scania Southeast Asia.

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McLaren Racing has signed a multi-year technical partnership with Tezos as the team’s Official Blockchain Partner. This technical partnership spans across Formula 1, IndyCar and esports which McLaren take part in. McLaren will use the energy efficient and upgradable Tezos network to create a non-fungible token (NFT) platform with fan experience at the heart.

Image: McLaren
Image: McLaren

Tezos is an open source blockchain for assets and applications, and is a continuously evolving blockchain that upgrades itself through efficient on-chain governance. McLaren will build a dedicated platform that brings its illustrious racing heritage and renowned driver line-ups across its multiple teams to offer an unrivalled NFT fan experience.

Sustainability through innovation is a priority to both McLaren and Tezos. Thus embracing clean NFTs and energy-efficient networks will ensure that the impact of this new medium to share creative expression is not diminished by unnecessarily high energy consumption.

Unlike traditional Proof of Work blockchains, Tezos’s pioneering Proof of Stake mechanism is a significantly more energy-efficient approach to securing its network, using two million times less energy than Proof of Work networks like Bitcoin and Ethereum. This allows Tezos to operate cleanly, with minimal energy consumption and a negligible carbon footprint.

As part of the partnership, the Tezos brand will be represented across the McLaren Formula 1 and Arrow McLaren SP teams, including on the race suits of McLaren F1 drivers Lando Norris and Daniel Riccardo, as well as AMSP drivers Pato O’Ward and Felix Rosenqvist.

McLaren Racing_Arrows McLaren SP_IndyCar_Pato O'Ward_Tesoz“Tezos and McLaren Racing uniting to create a unique fan-focused NFT platform is an innovative step in an exciting and rapidly developing industry. At McLaren we are known for putting fans at the heart of everything we do, and this is another partnership which allows us to enter a space where fans can own key pieces of our team. We are looking forward to launching the platform with Tezos to create bespoke NFTs with our Formula 1, INDYCAR and esports teams,” said Lindsey Eckhouse, Director, Licensing, ecommerce and esports of McLaren Racing.

Meanwhile, Hubertus Thonhauser, Chair, Tezos Foundation, commented: “McLaren Racing has one of the longest and most illustrious legacies in Formula 1 racing, and we are excited that they have chosen to bring it to the Tezos blockchain through their NFT Fan engagement platform. The concept of blockchain is evolving, becoming faster, more secure, and more efficient. This requires a blockchain that can keep up with this rapid pace of innovation. As brands everywhere look to engage with their fans in new ways, Tezos, the original and fastest evolving blockchain, remains at the forefront of innovation, providing real-world solutions in a thriving and fast growing ecosystem.”

 

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Scania Malaysia_Senai_Johor_Trained PersonnelScania Malaysia has officially opened a new flagship sales & service branch in Johor, which is a crucial gateway in the south of Malaysia. This new flagship outlet is located at Lot 39795, Jalan Idaman, Taman Perindustrian Senai, 81400 Senai, Johor Darul Ta’zim, and implements sustainable practices in line with Scania’s global targets. The workshop has 16 workplaces, an overhead crane and is run by a team of highly trained employees.

“We have been in Johor since 2002. The state is the Southern gateway to the vast transportation network in Peninsular Malaysia. So, the move to bigger and more advanced premises in Senai meets the growing demand for Scania from customers both within and outside the state,” said Heba El Tarifi, Managing Director of Scania Southeast Asia.

Scania_Senai_Johor_Workshop_Sales & Service CentreThe new branch has 5,000 square metres of land, with wide open spaces and plenty of green lung landscaping. Sustainable practices initiated here are the installation of LED lights throughout the premises, a water harvesting system, an integrated state-of-the-art oil dispensing system, a waste oil management system and an environmental station to ensure segregation and recycling of waste.

These are all installed to meet Scania’s sustainability objectives. In the future, solar panels will be installed to harness renewable energy from the abundance of sunlight in Malaysia.

“Our wide range of products and services continue to support our customers’ operations providing maximum uptime and fuel economy. They understand that in order to achieve this their Scania trucks, buses and coaches need scheduled maintenance,” said Anders Liss, Regional Manager – Region South. “This is why our repair and maintenance services are rapidly gaining recognition, and our new facility will support them all the way.”

With a Scania Contract, customers have a ‘home’ workshop and a service team with thorough knowledge of Scania vehicles. The increasingly popular Repair and Maintenance Contract ensures that Scania vehicles and engines are covered, from powertrain protection to full bumper to bumper coverage. Furthermore, through connectivity with the Scania Fleet Management System, real-time vehicle data can help with proactive and preventive services to maximise customers’ uptime and operating economy.

The Scania service team ensures customers will get quality advice, maintenance and parts when needed. Scania parts continue to be available and delivered fast, supported by the Asia Parts Centre in neighbouring Singapore.

18303-004“Scania continues to lead the shift towards a sustainable transport system. Our customers appreciate our industry-leading fuel-saving vehicles but also our partnership to reduce carbon emissions,” said Anders. “Here in Johor, customers like Mohd Sidek Amzah Enterprise, Naidu Trans Logistic and Narita Shipping & Transport are leading the way towards a greener future with Scania Ecolution.”

“We recognise the challenges that the country and the Johor state is facing now with the pandemic and the restrictions, yet we continue to believe in and invest in Johor. So, not only will this facility advance our long history of supporting transportation in Johor but also spearhead the newer, more profitable and sustainable future of the state together with our customers,” concluded Heba.

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GoCar Malaysia_Kampung Tunku_GoVax Heroes Volunteer ProgrammeGoCar Malaysia is calling for volunteer drivers for its GoVax Heroes programme. It is seeking people who can spare their time to assist in providing senior citizens (aged 60 years and above) as well as persons with disabilities (PWDs) by shuttling them to designated vaccination centres in Petaling district. These rides are provided for free by GoCar to the seniors and PWDs.

The volunteer GoVax Heroes will be scheduled driving assignments on Saturdays and Sundays in order to not disrupt their weekday work schedule. Volunteer drivers will be provided with vehicles courtesy of GoCar. Petrol and parking fees will also be covered by GoCar.

To volunteer as a GoVax Heroes driver, you must first be interested in helping. And you will also need to be between 18 and 50 years old and hold a valid Malaysian driver’s license. If you meet the criteria, you can provide your details here: https://hi.gocar.my/blog/were-looking-for-more-govax-heroes/.

Since the programme commenced on 25 May 2021, GoVax Heroes have provided free rides to and from vaccination centres for over 300 senior citizens and PWDs. GoVax Heroes have thus far been volunteers from GoCar Malaysia’s employee pool.

This new shout out for volunteers is needed following the increase of vaccination appointments by the government of Malaysia which will see demand for the free GoVax shuttle service grow.

GoVax Free Shuttle Service_GoCar MalaysiaThe GoVax shuttle service is a CSR (corporate social responsibility) programme by GoCar Malaysia, a car-sharing platform, in collaboration with Kampung Tunku state assemblyperson YB Lim Yi Wei. Currently, the GoVax shuttle service covers Sunway Pyramid Convention Centre, Hospital Shah Alam, Klinik Rakan Medik Petaling Jaya, University Malaysia Medical Centre (UMMC) and Ideal Convention Centre Shah Alam (IDCC).

“Since we launched the GoVax programme, we have been heartened by multiple queries coming in from members of the public who wanted to volunteer. We welcome all the support we can get as the government continues to intensify vaccination efforts. I am proud that Malaysians are so giving and caring. It is only through a concerted effort that we can beat this ongoing battle with COVID-19,” said Wong Hoe Mun, CEO, GoCar Malaysia.

“I’m very happy to see our GoVax initiative pass the 300-passenger mark. Many have expressed that they wouldn’t be able to get to the vaccination centres otherwise. Help us help more senior citizens and persons with disabilities (PWDs) get vaccinated so that we can get closer to achieving herd immunity. Kita Jaga Kita!” said YB Lim Yi Wei, state assemblyperson for Kampung Tunku.

To book a free GoVax shuttle, contact the 24/7 hotline (1 300-30-2633) or make a request via the GoCar mobile app.

Bookings must be made at least three days in advance. There are limited drivers available so requests for rides will be processed on a first come, first served basis. Passengers with mobility challenges will need to be accompanied by an experienced caregiver.

The free GoVax shuttle service ends on 31 August 2021.

To find out more about GoCar and the GoVax CSR programme, download the GoCar mobile app or visit http://bit.ly/GoVax_FreeShuttle.

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Images of the new Maserati GranTurismo have been released by Maserati. The heavily camouflaged prototype was photographed being driven out of the Maserati Innovation Lab and on the streets of Modena, Italy.

Maserati GranTurismo_Prototype_TopThe new Maserati GranTurismo is expected to go on sale in 2022 and will be the brand’s first car to have a full-electric solution. There is news that it will also have conventional combustion and hybrid variants. This would be the expected route to take since it is new to electrification. Earlier, in April, the Trident brand had introduced a hybrid variant of the Levante SUV running a 4-cylinder turbo engine with a 48V electric system. Moreover, Maserati has an engine it calls its own i.e. the Nettuno twin turbo V6 which is used in the MC20.

Maserati_GranTurismo_Prototype_TestThough camouflaged, the general shape of the new GranTurismo is evident. The face, the long bonnet and the coupe silhouette smells of Maserati. The short rear end of this 2-door tourer is reminiscent of the Alfieri concept that Maserati showed off a few years ago. However, the design of the headlights have since changed. In the new prototype, the headlights look more in line with the new MC20 sports car’s more upright design.

Also of note is the Trident logo in the front grille. Instead of looking like the usual cut-out badging attached to the grille, this looks more like a radar module for active safety. The images also reveal a camera module at the top of the windscreen as well as in the side mirror so it is almost certain that driving assistance such as active cruise control and autonomous braking will be available.

Further, the photographs show the GranTurismo prototype running an aero-type wheel design typically used with hybrid or electric cars. The supplied images however, do not show the rear of the car so it is unclear if this prototype has a set of working exhaust pipes poking out the rear.

Maserati Connect_Remote ServicesSince it is a grand tourer, the new GranTurismo should also be fitted with the Maserati Connect system currently available in selected markets. This was first introduced in the new Levante Hybrid. Maserati Connect allows you to stay in contact with your car via smartphone or smart watch app, and also alerts you when a service is due. The connection is also possible from home via virtual personal assistants such as Amazon Alexa & Google Assistant.

This is just the first tease of the new model and more images and details will be available further into testing.

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The Scania Ecolution partnership is paying off for Johor-based Naidu Trans Logistics Sdn Bhd. The logistics company, which operates a fleet of Scania prime movers, is seeing better results in reducing its carbon footprint after signing the Maintenance contract with Scania.

Naidu Trans is a key player in the logistics and transportation industry. Operating from Skudai, the company services the entire state of Johor as well as makes deliveries to Singapore, Kuala Lumpur, Ipoh and Penang. Its trucks transport an average of 700 to 800 freight containers per month.

Scania Ecolution_Boss Naidu_Scania Prime Mover_Naidu Trans Logistics“Our trucks are on the road almost 24/7, so it’s important for us to have the trucks serviced and well-maintained to withstand all the harsh elements that they go through when on-the road with the maximum uptime possible. Operationally, I vouch for the Scania trucks for its unbeatable performance. The Scania Ecolution partnership agreement that we signed over a year ago is showing positive results and it syncs very well with our Maintenance contracts,” commented Managing Director, Boss Naidu.

Scania G410_Prime Mover_Truck Cab_Naidu Trans LogisticsScania knows every single vehicle inside out – the reason why Naidu subscribe to Scania Maintenance. Scania’s maintenance procedures are proactive to avoid time-consuming and costly problems from occurring to maximise uptime and lower Naidu Trans’ operating costs. Scania Maintenance contract also gives predictable costs, so Naidu Trans can focus its time and energy on its business, worry-free. By individually optimising the different modules in its service plan, Scania ensures via the maintenance contract that downtime is planned and only occurs when absolutely necessary.

Moreover, Naidu Trans notes that Scania aftersales is always ready to offer assistance when necessary. With Scania Assistance, Naidu Trans also has access to the Scania network of workshops which are well-stocked with available spare parts for quick repairs, 24-hours a day.

To ensure top notch service to its customers, Naidu Trans uses the Scania Fleet Management System (FMS) Control 10 to optimise its fleet services. The FMS also helps to fine-tune its drivers’ performance on the job. The improvement in driving performance ultimately contributes to Naidu Trans’ profitability via lower operational costs. As such, the company runs an incentive programme to award its drivers with excellent performance. Programmes like this helps to reduce idling time, harsh braking and speeding and effectively reduces fuel consumption which is a large component of running cost.

Naidu Trans Logistics_Gajendran_Scania Prime Mover_G Series_EcolutionWhile it prioritises providing first-rate logistics solutions to its customers, Naidu Trans also focuses on caring for the environment. Boss Naidu, and his son Gajendran, are committed to sustainability by investing in the right products and contracted services.

As a result of the Scania Ecolution partnership and the Maintenance contract, the company has achieved commendable results within months. In the first quarter of 2021, the company had reduced its CO2 emissions by a further 41,465 kg. This is equivalent to planting about 667 trees that has been flourishing for the past one year.

“I truly like the fact that we are considered ’A Good Company’ and as we are one of the first Scania Ecolution partners in Johor we want to set a good example of how we can truly reduce the impact to the environment. Signing the Maintenance contract was another positive catalyst towards our steady growth. We recorded good results within the first few months of signing the Scania Ecolution agreement in 2019 and are showing better results in 2021 because at the end of the day, lowering our fuel consumption and CO2 benefits the environment and of course our future generation,” summarized Boss Naidu.

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The new Volkswagen Arteon R-Line 4MOTION is now open for booking. The retail price for this locally-assembled flagship sedan is estimated between RM245,000 – RM255,000. Five exterior colours will be available i.e. metallic options: Lapiz Blue, Manganese Grey, Pyrite Silver; and pearl effect: Deep Black and Oryx White.

The flagship Arteon was introduced last year by Volkswagen Passenger Cars Malaysia, and boasts of an attractive package that combines a sleek silhouette with dynamic handling and performance. The new Arteon will be offered with enhancements, including updated interior and exterior, new technology and a new engine.

The front grille and bumper are redesigned to be more prominent to complement the full LED headlights and sporty R-Line trim. At the rear, new LED 3D lights with sequential indicators add character to the Arteon’s sloping fastback design. Incidentally, this will be the first model to locally carry the new Volkswagen and R logos.

The updated Arteon’s cabin will include a new steering wheel with haptic touch controls, ErgoComfort sports seats in Nappa Carbon leather featuring the new R logo, and a premium Harman Kardon 700-watt 12-speaker audio system. Further, the 9.2” Discover Pro infotainment comes will feature voice and gesture control, and will support both wireless App-Connect for Apple CarPlay and Android Auto. For the driver, a high-resolution Digital Cockpit offers convenience and customisation at the touch of the fingertips.

The Arteon is powered by a 2.0L TSI turbocharged engine paired with a 7-speed wet clutch direct shift gearbox (DSG). Powertrain output is rated at 280 PS and 350 Nm of torque between 5,100 – 6,500 rpm. This goes through the newly-added 4MOTION all-wheel drive system and allows for a brisk 0 – 100 km/h acceleration in 5.6 seconds.

Safety is another key feature of the car. The driver assistance system in the new Arteon will include Lane Assist, Side Assist, and Driver Alert.

Bookings for the Arteon R-Line 4MOTION can be made at the Volkswagen eShowroom. You can also obtain additional information from the Arteon R-Line 4MOTION page.

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We normally think of the Michelin brand in doughnut form (or an inflated mascot). But at the recent 2021 Movin’On World Summit on sustainable mobility, Michelin showcased innovations that take it beyond the usual. Still related to mobility, Michelin’s concepts address some of the major challenges impacting the future of transportation.

WISAMO_engineered by MichelinThe latest solutions from Michelin are designed to make transportation more efficient while conserving resources. The first is its WISAMO (Wing Sail Mobility) project which is an innovative solution to help decarbonize maritime shipping.

The WISAMO project is an automated, telescopic, inflatable wing sail system that can be fitted on merchant ships as well as pleasure craft. The system is the product of a collaborative venture between Michelin Research & Development and two Swiss inventors who share the Michelin Group’s “all-sustainable” vision.

This inflatable wing sail concept is able to harness wind energy which is a free, universal and inexhaustible source of propulsion. The sail’s revolutionary design will enable a ship to reduce its overall fuel consumption thus creating a positive impact on the environment by lowering emissions and fuel usage.

Designed and developed by the WISAMO project team, the system can be installed on most merchant ships and pleasure craft. It is especially suitable for ro-ro (roll on/roll off) ships, bulk carriers and oil and gas tankers. The system can be fitted as original equipment on newbuilds or retrofitted on in-service vessels.WISAMO_vraquier & voilier - Copy

The wing sail’s range of use is one of the market’s broadest, with proven effectiveness on many points of sail, and especially when close-hauled (windward). It can be used on every maritime shipping route. The telescopic mast is retractable, making it easy for a ship to enter harbours or pass under bridges. It is estimated that the system can improve a ship’s fuel efficiency by up to 20%.

A collaboration with Michel Desjoyaux, a world-renowned skipper and ambassador of the project, enables Michelin’s research teams to perfect its development. The input and technical knowledge of this seasoned sailor enable it to be tested in actual maritime shipping conditions. As Desjoyeaux points out, “the advantage of wind propulsion is that wind energy is clean, free, universal and totally non-controversial. It offers a very promising avenue to improving the environmental impact of merchant ships.”

The first WISAMO system will be fitted on a merchant ship in 2022, when Michelin expects it to go into production following completion of the trial phase.

The WISAMO project is Michelin’s contribution to enabling greener, softer maritime mobility ahead of future regulations. Michelin is also taking action to reduce the environmental impact of its supply chain. In addition to this commitment, and in line with its strategic plan, the Group is basing a portion of its growth on the development of new businesses.

In addition, Michelin also unveiled a racing tyre at the summit. This tyre is made up of 46% sustainable materials, and fitted to the GreenGT Mission H24 hydrogen-powered prototype developed for endurance racing.

With its totally new innovation engineered for motorsports, Michelin has found what many observers thought was impossible i.e. a way to make a tyre with high sustainable content that still delivers superior on-track performance.Green GT Mission H24

This very high percentage was achieved by increasing the tyre’s natural rubber content and using recycled carbon black recovered from end-of-life tyres. Other bio-sourced or recycled sustainable materials used in the tyre include such everyday items as orange and lemon rind, sunflower oil, pine resin and recycled steel from aluminum cans.

As a real-world technological laboratory, motorsports enables Michelin to develop and test new high-tech solutions in extreme usage conditions. With this innovative partnership, Michelin is showcasing its ability to incorporate an ever-higher proportion of sustainable materials into its products without compromising on their performance.

This year, Michelin also announced its commitment to using 100% sustainable materials in all its tyres by 2050. This commitment will reach an initial milestone in 2030, with a Group-wide target of having 40% sustainable materials in its tyres.

Along with its commitment to integrating sustainable materials into its tyres, Michelin also uses eco-design processes to attenuate its tyres’ environmental impact at every stage in their lifecycle, from raw materials sourcing and production to road use and recycling.

Florent Menegaux_Michelin_Managing Chairman“We share a core value with Movin’On and its partners, namely the deep belief that mobility, and movement in the broadest sense of the term, are inherent to life and a source of progress,” says MICHELIN Managing Chairman, Florent Menegaux. “The two innovative solutions we are presenting at this year’s global sustainable mobility summit offer tangible, real-world proof of our determination to make mobility increasingly sustainable.”

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SoftBank_LogomyTukar’s parent company, Carro, has announced the successful raising of US$360 million through a Series C funding led by SoftBank Vision Fund 2. Singapore-based Carro represents Southeast Asia’s largest automotive marketplace, and has become the first automotive marketplace unicorn in SEA with this round of funding. Notable investors in this new round of financing include several prominent Indonesian based funds such as EV Growth.

myTukar Retail Centre_ConceptWith the fresh funds raised, Carro will be in a good position to strengthen its market position and expand its retail presence in Malaysia, Indonesia, Thailand, and Singapore; these have seen significant growth in the past year. Carro has myTukar, Jualo and Genie under its umbrella. Carro will also enhance its portfolio of financial services by expanding beyond in-house loan financing, as well as accelerate development of its AI (artificial intelligence) capabilities.

L-R: Aaron Tan, Founder and CEO of Carro & Fong Hon Sum, Founder and CEO of myTukar.
L-R: Aaron Tan, Founder and CEO of Carro & Fong Hon Sum, Founder and CEO of myTukar.

“This is a huge milestone for us. We are grateful for the strong support from our investors, which reaffirms our belief in the transformative power of AI in the automotive industry to deliver exceptional customer experience. As digitalisation shapes the global landscape through new consumer habits and business practices, it is a very exciting time for an end-to-end online car marketplace like Carro.” said Aaron Tan, CEO and Founder of Carro.

SoftBank Group had first invested in Carro through SoftBank Ventures Asia, its venture capital arm, in 2016. It has continued to support Carro’s growth initiatives through the years. Carro provides a full-stack service for all aspects of car ownership and uses AI-powered technology to transform the car buying and selling experience. It pioneered innovative services such as Singapore’s first contactless car purchase service, first car subscription service and the first region-wide behaviour and usage-based car insurance. Carro had closed its financial year ending 30 March 2021 with more than 2.5x growth in revenue. It is also EBITDA positive for the second consecutive year. Further, Carro was also named Asia Pacific’s fastest growing company in 2021 by The Financial Times and Statista.

“Carro is transforming the automotive industry in Southeast Asia by providing a seamless buying and selling experience for both consumers and car dealers. Powered by AI, Carro’s technology platform provides consumers with full-stack services and transparency throughout the car ownership process,” said Greg Moon, Managing Partner of SoftBank Investment Advisers. “We are delighted to partner with Aaron and the Carro team to support their ambition to expand into new markets and use AI-powered technology to make the car buying process smarter, simpler, and safer.”

 

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