Latest news with #Aumovio
Wall Street Journal
10 hours ago
- Business
- Wall Street Journal
TNB Tech Minute: Main Street Banks Could Get Opening to Join Stablecoin Market - Tech News Briefing
Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Speaker 1: Here's your TNB Tech minute for Monday, June 23rd. I'm Victoria Craig for the Wall Street Journal. Main Street banks worried about getting left behind by the push into crypto might soon get an opening. The Journal exclusively reports that financial technology giant Fiserv has plans to launch a stablecoin and platform that can be used by clients including 3,000 regional and community banks. A broad shift to crypto would put deposits at those more local banks at risk, because they're reliant on those deposits to make loans. If customers were to pull deposits and put the funds into stablecoins, it would leave those banks less room to lend and squeeze a critical revenue source. Elsewhere, German auto parts company Continental said today it's partnering with semiconductor maker GlobalFoundries to design its own vehicle computer chips. The new organization called Advanced Electronics & Semiconductor Solutions will design and test chips tailored for automotive products of its spinoff, Aumovio. Continental said the new unit will reduce geopolitical risk and make the company more self-reliant. And finally, a US-funded space observatory perched in the Andes mountains in Chile released its first images of deep space using the world's largest digital camera. It's the first time a telescope has been able to peer this far and wide into the cosmos. And for the next 10 years, the observatory will take photos of the southern sky at 30-second intervals every three to four nights. Scientists hope the project called The Legacy Survey of Space and Time will inventory the solar system, map the Milky Way, catalog billions of transient space objects, and unlock the mysteries of dark matter and energy. For a deeper dive into what's happening in tech, check out Tuesday's Tech News Briefing podcast.
Time of India
24-04-2025
- Automotive
- Time of India
Continental Automotive unveils new name Aumovio at Auto Shanghai to pave future mobility innovations
Continental's Automotive group sector unveiled its future identity, Aumovio , at Auto Shanghai . It is signaling its transition into an independent automotive company focused on shaping the future of mobility with innovative electronic products and advanced solutions for software-defined vehicles. The company is expected to list on the Frankfurt Stock Exchange in September 2025, following approval at the Continental Annual Shareholders' Meeting on April 25, 2025. Aumovio aims to capitalise on the growing market for mobility solutions, particularly in China, where it has a strong presence and is expanding its local capabilities. The company will offer solutions for safe, exciting, connected, and autonomous mobility to a wide range of global customers. What does it indicate? Aumovio combines Continental's established market position, automotive heritage, and technological expertise with a forward-looking ambition. At Auto Shanghai, the Automotive group sector showcased its "in the market for the market" approach. The company also presented several innovative technologies designed specifically for Chinese customers and the Chinese market. The expected listing on the Frankfurt Stock Exchange in September 2025 marks a significant step for Aumovio. It will follow the anticipated approval at the Continental Annual Shareholders' Meeting on April 25, 2025. Philipp von Hirschheydt, Member of the Executive Board of Continental and CEO of Automotive, emphasized the benefits of independence. "As an independent company, we gain significantly more creative power and speed. Aumovio will be characterized by a triad of technologically leading products, a consistent value creation strategy and a global synergetic network, combined with a strong local presence for our customers. This strategy is particularly evident in China. Among other things, we are relying on our strong local presence by producing and developing locally for the Chinese market," said Philipp von Hirschheydt. The growth of Continental Automotive group Continental's Automotive group sector has maintained a presence in China for three decades. It currently employs approximately 10,000 people in the country. In the 2024 financial year, Automotive generated around 14 percent of its global sales in China. Among the products showcased at Auto Shanghai were the Luna and Astra driver assistance systems. These systems were developed in the joint venture Horizon Continental Technology, specifically for the Chinese market. Luna is an assistance system designed to enhance active safety. It provides basic driving and parking functions to improve overall safety and comfort. Astra is an advanced assistance system that enables assisted driving without relying on a high-resolution map. It also features parking assistance with a memory function. Aumovio will offer highly developed electronic products and modern mobility solutions. The company possesses a strong market position in innovative sensor solutions, displays, and technologically advanced braking and comfort systems. Aumovio also has significant expertise in software, architecture platforms, and assistance systems.
