January 28, 2021

Day: December 1, 2020



a car parked in a parking lot: Kandi America


© Kandi America
Kandi America

  • Hindenburg Research is back with more allegations of fraud. 
  • The short-seller has accused Kandi motors of fake sales and deceptive accounting practices. 
  • In September, a Hindenburg report unraveled electric-truck startup Nikola’s $2 billion deal with General Motors, with the two companies eventually agreeing to a scaled-down deal instead.
  • Visit Business Insider’s homepage for more stories.

Hindenburg Research is looking for a victory lap.

After single-handedly unraveling Nikola’s potential $2 billion deal with General Motors over the summer, the short-selling research firm has a new target: Kandi Motors.

The China-based and Nasdaq-listed electric-car startup has used in-house corporate entities to fake sales and show illegitimate growth, Hindenburg alleged in its report released Monday.

“The company’s largest customer, representing ~55% of last twelve months (LTM) sales, shares a phone number with a Kandi subsidiary, and shared an executive with Kandi,” the report says. “We visited the ‘customer.’ It is based in a tiny building right next to Kandi’s factory with a sign indicating that it’s a Kandi company. The same building housed another entity used by Kandi as part of a separate fake sales scheme to collect illegitimate subsidies from the Chinese government, for which it was fined and sanctioned.”

Shares of Kandi have tumbled more than 33% since the report was published Monday.

The company told Business Insider it takes seriously any allegations of impropriety, and it would study Hindenburg’s report. “We intend to thoroughly research the accusations, investigate internally as needed, and offer a public response in the near future,” a spokesperson said.

Hindenburg alleged that a fake revenue scheme was used as a ploy to raise money on US capital markets, and said the company has raised $160 million from investors since November. It also pointed to past SEC investigations and EPA fines.

“The company will likely issue some sort of press release declaring everything we say false and misleading, as they always do, while ignoring all or the vast majority of the questions we’ve raised,” Hindenburg said, alluding to its fight with electric-truck startup Nikola over the summer.

In September, shortly after General Motors and Nikola announced a partnership potentially worth up to $2 billion, a Hindenburg report caused the startup’s stock to plunge, its founder to relinquish his role in the c-suite, and GM to scale back its partnership.

Hindenburg said it’s still short Nikola, too, and will “keep calling it out as we see it.”

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Kandi EV
  • Hindenburg Research is back with more allegations of fraud. 
  • The short-seller has accused Kandi motors of fake sales and deceptive accounting practices. 
  • In September, a Hindenburg report unraveled electric-truck startup Nikola’s $2 billion deal with General Motors, with the two companies eventually agreeing to a scaled-down deal instead.
  • Visit Business Insider’s homepage for more stories.

Hindenburg Research is looking for a victory lap.

After single-handedly unraveling Nikola’s potential $2 billion deal with General Motors over the summer, the short-selling research firm has a new target: Kandi Motors.

The China-based and Nasdaq-listed electric-car startup has used in-house corporate entities to fake sales and show illegitimate growth, Hindenburg alleged in its report released Monday.

“The company’s largest customer, representing ~55% of last twelve months (LTM) sales, shares a phone number with a Kandi subsidiary, and shared an executive with Kandi,” the report says. “We visited the ‘customer.’ It is based in a tiny building right next to Kandi’s factory with a sign indicating that it’s a Kandi company. The same building housed another entity used by Kandi as part of a separate fake sales scheme to collect illegitimate subsidies from the Chinese government, for which it was fined and sanctioned.”

Shares of Kandi have tumbled more than 33% since the report was published Monday.

The company told Business Insider it takes seriously any allegations of impropriety, and it would study Hindenburg’s report. “We intend to thoroughly research the accusations, investigate internally as needed, and offer a public response in the near future,” a spokesperson said.

Hindenburg alleged that a fake revenue scheme was used as a ploy to raise money on US capital markets, and said the company has raised $160 million from investors since November. It also pointed to past SEC investigations and EPA fines.

“The company will likely issue some sort of press release declaring everything we say false and misleading, as they always do, while ignoring all or the vast majority of the questions we’ve raised,” Hindenburg said, alluding to its fight with electric-truck startup Nikola over the summer.

In September, shortly after General Motors and Nikola announced a partnership potentially worth up to $2 billion, a Hindenburg report caused the startup’s stock to plunge, its founder to relinquish his role in the c-suite, and GM to scale back its partnership.

Hindenburg said it’s still short Nikola, too, and will “keep calling it out as we see it.”

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Wireless connectivity in vehicles began over a decade ago with simple Bluetooth and Wi-Fi functionality, but has increased dramatically in the past few years. It began with the simple Bluetooth hands-free profile (HFP) and, maybe, a Wi-Fi hotspot. Bluetooth enabled audio streaming (A2DP) followed, along with multi-role, multi-purpose Wi-Fi, and Wi-Fi–enabled screen sharing.

Recently, more advanced functionality has gone mainstream, including wireless sensor data collection, over-the-air firmware updates, continuous data uploads, electric-vehicle charge controlling, and local network connectivity, for instance, in parking lots.

Dependence on wireless data transfer will only continue to grow. As autonomous driving systems enter the market in different stages, we will see data transfer needs increase between the cars and different cloud-based systems, with similar bandwidth growth for vehicle-to-vehicle (V2V) connections. Vehicle-to-everything communication (V2X) is specifically handled by its own dedicated Wi-Fi-based solution (IEEE 802.11p/bd), potentially combined, in the longer run, with cellular V2X (C-V2X).

illustration of wireless technologies for the vehicleillustration of wireless technologies for the vehicleFigure 1 Several wireless technologies are already present in today’s vehicles and more will follow.

And then there is in-vehicle entertainment – too popular and, in terms of bandwidth requirements, too demanding to ignore. The Ericsson Mobility Report predicted that mobile video traffic will continue to grow in percentage and volume from 63 percent and 38 Exabytes per month in the third quarter of 2019 to 75 percent of all mobile data traffic and 160 Exabytes per month in 2025. An increasing part of this video entertainment is expected to be consumed in cars, as in-vehicle displays are becoming more popular and infotainment systems are improving.

It’s getting crowded in the car

As the number of wirelessly-connected automotive application areas and use cases grow, so too does the risk of signal congestion, which can impact performance. Reducing such system degradation is becoming vital as the huge mix of applications, each with its own set of characteristics and system requirements, is putting higher demands on how the Wi-Fi system handles its resources.

Wi-Fi 6, the latest generation of Wi-Fi technology to enter the automotive arena, promises to solve many of these emerging challenges by speeding up and streamlining automotive connectivity. Over the coming years, Wi-Fi 6 (also referred to as 802.11ax in the standardization communities) is expected to become a key enabler for many automotive system elements, including infotainment units, telematics control units, and advanced driver-assistance systems. ABI Research estimates that 50 percent (35 million units) of the automotive Wi-Fi chipset shipments by 2023, and 70 percent (50 million units) by 2024, will be Wi-Fi 6.

diagram of connectivity use cases in a vehiclediagram of connectivity use cases in a vehicleFigure 2 A growing number of use cases in and around the vehicle compete for the same spectrum and resources, increasing the potential for signal congestion and reduced performance.

A future-proof solution

Bluetooth and original 802.11b/g Wi-Fi both operate in the 2.4 GHz band, where they compete for the same spectrum resources. As bandwidth needs for emerging Wi-Fi use cases increase, more and more of them are being addressed in the 5 GHz band, in a combination of the 2.4 GHz and 5 GHz bands, or,

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Soldiers with the 3rd Infantry Division recently spent a month running variants of the Army’s Robotic Combat Vehicle in contact, attack and defense missions with a rifle platoon.

Those soldiers, from A Company, 1st Battalion of the 28th Infantry, took four RCV surrogate vehicles in the “Project Origin” fleet to test new technologies the Army wants at the fingertips of its ground forces.

The aim of the most recent experiment was to see what an RCV would add to a rifle platoon’s toolkit. To that end, soldiers ran movements to contact, attacks and defense missions with their standard formation and then did the same maneuvers with the RCV, according to an Army statement.

Army Bradley Fighting Vehicles from 1st Battalion, 16th Infantry Regiment, travel to battle positions during STRIKE BACK 19 at the Bulgarian Land Forces' Novo Selo Training Area. In 2020, soldiers at Fort Carson, Colorado, will use modified Bradleys while remote controlling robotic vehicles in a platoon-sized mechanized assault. (Capt. Erica Mitchell/Army) Army Bradley Fighting Vehicles from 1st Battalion, 16th Infantry Regiment, travel to battle positions during STRIKE BACK 19 at the Bulgarian Land Forces' Novo Selo Training Area. In 2020, soldiers at Fort Carson, Colorado, will use modified Bradleys while remote controlling robotic vehicles in a platoon-sized mechanized assault. (Capt. Erica Mitchell/Army)

Soldiers from A Company used a tethered drone, counter-drone jammer, modular smoke obscuration module and a Common Remotely Operated Weapon System that had both an M240 machine gun and Javelin missile. They ran those systems during dismounted movements.

The operators were also able to use the RCV autonomous drive functions and run it through an amphibious movement when they “swam” it across Victory Pond at Fort Benning, Georgia.

The RCVs were helpful in defensive operations and in easily maneuverable terrain but had difficulties working alongside soldiers in dense vegetation during dismounted operations, according to the statement.

Army Times sister publication Defense News reported in September that the service wants to field light, medium and heavy versions of the RCV. The light version could be in manufacturing within the next three years, followed shortly afterward by the medium then heavy version.

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Sonic Automotive Inc. CEO David Smith will plead not guilty to charges including felony assault by strangulation related to an alleged October incident with a 22-year-old woman in Charlotte, N.C., his lawyer told Automotive News.

Smith on Tuesday waived his probable-cause hearing in Mecklenburg County District Court in which Smith’s lawyer, George Laughrun, appeared on Smith’s behalf, Jessica Davis, public information officer in the Mecklenburg County trial court administrator’s office, wrote in an email to Automotive News.

Defendants have rights to probable-cause hearings, which are used to determine if there is probable cause to believe a crime was committed and if the defendant is believed to be the one who committed the crime. The waiver of the hearing is often procedural and does not equate to any admission of guilt.

The case will move to Mecklenburg County Superior Court because one of the charges against Smith is a felony, Davis said. His next court date, in which Smith would be due to enter a plea, hasn’t been scheduled.

Smith, 46, also faces charges of false imprisonment, assault on a female and interfering with emergency communication. Laughrun declined to comment further.

Smith, who has led the nation’s sixth-largest new-vehicle retailer since 2018, was arrested Oct. 5. The woman, who is not related to Smith, told the Charlotte-Mecklenburg Police Department that she was assaulted and unlawfully restrained at a Charlotte home. She had minor injuries of bruises and scratches, according to the police report.

Smith, son of Sonic co-founder and Executive Chairman Bruton Smith, spent a night in the Mecklenburg County Jail and was released on $30,000 bail.

Sonic’s board, led by Bruton Smith, issued a statement following Smith’s arrest saying that it remained “steadfast in its support” of Smith and indicated Smith had told the board he was innocent of the charges.

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Rapid surprise hit-and-run attacks, high-speed hostage rescue, indirect fire support or high-risk scout operations behind enemy fortifications are all mission expectations for Special Operations Forces facing enemy fire in light tactical vehicles. Larger payload, especially with vehicles that are sling load and air-droppable in otherwise unreachable areas such as uneven terrain or high altitudes in mountainous regions, can not only help forces maneuver but also improve ability to bring weapons, supplies, ammunition and medical supplies to high-risk, high casualty combat areas.

U.S. Special Operators are acquiring a new rugged, arctic-capable, fast-moving light tactical attack vehicle for quick-strike missions, reconnaissance and small unit transport across rigorous terrain in warzones. They also want a vehicle able to be armed with laser weapons and counter drone systems.

It’s called the MRZR Alpha, made by Polaris Defense, and it is engineered to be expeditionary and travel on-board a V-22 Osprey aircraft as well as a CH-47 Chinook cargo helicopter. The concept is to forward deploy fast-moving small units of special operations needing to operate in otherwise inaccessible, mountainous or unreachable areas.

ARMY IMPROVES ABRAMS TANK GUN SYSTEM WITH UPGRADED FIRE CONTROL

The vehicle significantly increases the performance over its existing MRZR D vehicle with more payload and technical advancements for forces in combat, including stronger propulsion and an Arctic Enclosure Package with snow tracks, a special cab and heating systems.

Polaris MRZR Alpha

Polaris MRZR Alpha
(Polaris Defense)

“Right now, we are continuing to test and refine in preparation for low rate initial production early 2021. We’ve proven performance and durability at extreme heat and the cold chamber, desert sand dunes and rocky terrain at elevation and extensive durability miles in an off-road mission profile,” Nick Francis, director, Polaris Defense, told The National Interest in a statement.

The MRZR Alpha is also built with greater payload potential for casualty evacuations and higher ground clearance and improved suspension for greater off-road mobility, Counter Unmanned Aerial Systems (C-UAS), direct-fire weapons, high-energy laser systems, Intelligence, Surveillance and Reconnaissance (ISR) systems, tactical aviation ground refueling system, expeditionary command and control systems, autonomy packages, litters for casualty evacuation and communication equipment.

‘ATTACKING AT SPEED’: ARMY PROJECT CONVERGENCE AND BREAKTHROUGH LIGHTNING-FAST WAR

“The MRZR Alpha is powered by a high-performance 8-speed automotive transmission and a powerful, yet quiet, 4-stroke, 118 hp turbo-diesel engine. This provides 200 ft-lbs of efficient torque that, when combined with a selectable locker for the 2WD/4WD drive system, delivers superior off-road maneuverability and handling in the most demanding environments, including deep sand” a Polaris Defense statement said.

The four-seat version includes 2,000 pounds of payload, run flat tires, is built to operate in sand and can reach top speeds over 60mph. The vehicle, while heavier than its predecessor, can sling load beneath a Black Hawk helicopter.

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How might some of these technological enhancements impact tactics for Special Ops on the move when incorporated on the MRZR Alpha? Laser weapons are stealthy, quiet, precise and tailorable in terms of desired effects. They

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  • In 2015, Bloomberg , sparked controversy around a news story in which it was reported that the company founded by Steve Jobs wanted to start developing cars in 2020.

  • The new clue is a new patent application by the company.

For several years there has been talk that Apple is working on a smart car, although the company has not given more information about it. Now everything indicates that the United States Patent Office received an application for the trademark of the bitten apple that may be another clue to the mysterious car.


This is a system used to monitor the windshield for damage. It would consist of a conductive film between two layers of glass that would alert the driver if his windshield suffered any damage.




Image: Apple via PCMag

In 2015, Bloomberg sparked controversy around a news item in which it was reported that the company founded by Steve Jobs wanted to start developing cars in 2020. Also, Business Insider reported that a member of the company’s board, had revealed that Jobs was going to design an “iCar.”

Later in 2017, Tim Cook, CEO of the firm, announced that they had a team of 1,000 engineers working on the development of an autonomous vehicle, and that they requested permission to do tests on the roads of California. He also commented that they were in training for an artificial intelligence navigation system.


In this project that is known by the name of Titan, former executives of automotive companies such as Ford , Mercedes-Benz , and Tesla , a company known for its electric cars, would be working.



Related:
Esta es la nueva pista del vehículo que Apple estaría construyendo
Here’s a Clue About the Car That Apple Is Building
Regulador italiano dice que Apple ‘exageró’ sus afirmaciones de resistencia al agua del iPhone

Copyright 2020 Entrepreneur.com Inc., All rights reserved




This article originally appeared on entrepreneur.com



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Robert A. Kotick wearing a suit and tie smiling at the camera: Bobby Kotick


© TheWrap
Bobby Kotick

Bobby Kotick, CEO of Activision Blizzard, was injured during a serious bicycle accident on Thanksgiving Day with two other entertainment moguls, Brian Grazer and Bryan Lourd.

In a FaceTime interview with TheWrap, Kotick said Imagine Entertainment co-founder and producer Brian Grazer and CAA co-chairman Bryan Lourd were biking with him in Manhattan Beach, California when his front tire caught on one of his two friends.

“I did fall off my bike Thursday with Bryan and Brian but no surgery, nothing broken, just black and blue and bruised,” Kotick said.

In the FaceTime, Kotick displayed a black and swollen right eye and a severe contusion to his nose. He showed other significant bruising on his legs. But the gaming mogul said he was back at work and that he wished he had “something more entertaining” to share.

Brian Grazer (Getty Images

A group of Hollywood power-brokers, including Disney Executive Chairman Bob Iger and Paramount Pictures CEO Jim Gianopulos often ride bikes together on weekends.

Kotick was named CEO of Activision in 1991 and became CEO of Activision Blizzard when the company was formed in 2008 after a merger. He is also the co-founder and co-chairman of the Call of Duty Endowment, a nonprofit that helps veterans find high-quality careers after their service.

Bryan Lourd (Getty Images)

In 2016, Kotick started dating Facebook COO Sheryl Sandberg, which came 10 months after the death of her husband, Dave Goldberg. The couple split in 2019.

Activision Blizzard has enjoyed a big 2020. The company’s stock price has jumped 36% since the start of the year, as the COVID-19 pandemic has forced more people to stay inside and play video games. At about $80 per share, the Santa Monica-based company is hovering near its all-time high set a few months back. Activision Blizzard is perhaps best known for its Call of Duty and Candy Crush franchises.

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BERLIN (AP) — A man zig-zagged an SUV at high speed through a pedestrian zone in the southwestern German city of Trier on Tuesday, killing five people, including a 9-month-old child, and seriously injuring more than a dozen, officials said.

The driver, identified as a 51-year-old German man born in Trier, was arrested at the scene and the vehicle was impounded, Trier police said.

The suspect, whose name was not released in line with German privacy laws, had no fixed address and had been living in recent days in the Land Rover that a friend had loaned him, which was used in the attack, said prosecutor Peter Fritzen, who was heading the investigation.


He was being interrogated by police and was to undergo a psychiatric examination, Fritzen said, adding that a doctor had recently reached the preliminary conclusion the man could be suffering from mental illness.

“We have no indication that there was any kind of a terrorist, political or religious motive that could have played a role,” he told reporters.

The suspect had also consumed a “not insignificant” quantity of alcohol before the incident and was well above the legal limit, he added.

Mayor Wolfram Leibe, who was brought to tears during the day talking about the horrific scene, said it was difficult to come to grips with what had happened.

“I can’t understand how someone gets the idea to drive through the city center with an SUV to kill people,” he said. “Kill people — a baby, 9 months old to a woman 72 years old; what did these people do? They just wanted to go to the city, shop, and now they are dead.”

Four people were still in life-threatening danger in the hospital and five others suffered serious injuries, while another six had less serious injuries, state Interior Minister Roger Lewentz said. Police later said one of the injured succumbed, but provided no further details.

The others killed were identified as a 25-year-old woman and a 45-year-old man from Trier; the baby’s mother was among those hospitalized. Police said the oldest victim was aged 73.

“This incident has shaken all of Germany,” Lewentz said.

Police were called shortly before 2 p.m. with reports of the attack.

Lewentz commended security forces on their reaction, saying that they had located the car, which had stopped at the side of the street, and taken the suspect into custody within four minutes of receiving the first call.

The driver, who was alone in the car, resisted arrest but was overpowered by police, authorities said.

In a video posted by a local media outlet purportedly showing the arrest, police could be seen pinning a man down on the sidewalk next to a car with Trier license plates. The authenticity of the video could not immediately be verified and it was taken down shortly after police tweeted a request that people do not share photos and videos of the scene.

Footage from the scene showed people outside a shop apparently helping someone

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Five people including a nine-month old baby have been killed and 15 injured after a drunk driver ploughed his car into a crowd of people in the historic centre of the city of Trier, south-west Germany.

Witnesses said people screamed in panic and some were thrown into the air by the car as it crashed through the shopping zone.

Shortly before 2pm on Tuesday a 51-year-old man turned his silver-grey SUV on to the pedestrianised Brotstrasse shopping area, police said, where he “hit and ran over people at random”.

Public prosecutor Peter Fritzen later told reporters the driver had drunk a significant amount of alcohol and there was no sign of a religious or political motive.

In a short press conference at the scene, police said the driver had been arrested and his vehicle seized.

“The car was stopped by us on Christophstrasse,” said a police spokesperson. “Inside the car was a 51-year-old German citizen from the Trier-Saarburg administrative district, who was arrested.” News outlet Der Spiegel named the driver as “Bernd W”.

Brotstrasse and Simeonstrasse, a 1km-long, straight street lined with shops and cafes that lead up to the Porta Nigra, the largest Roman city gate north of the Alps, remained sealed off on Tuesday afternoon as police searched for evidence.

Schools in the city were informed of the incident at about 2pm local time (1300 GMT) and parents were told to pick up their children rather than let them walk home on their own.

Malu Dreyer, the premier of the state of Rhineland-Palatinate where Trier is located, said she was shocked that a baby was among those killed by the driver’s “brutal act”.

“This is a terrible day,” she said, adding that her thoughts and prayers were with the child’s parents and all the other victims.

Germany has tightened security on pedestrian zones across the country since a truck attack on a Berlin Christmas market in 2016 that killed 12 people and injured dozens.

“What happened in Trier is shocking. Our thoughts are with the relatives of the victims, with the numerous injured and with everyone who is currently on duty to care for the victims,” wrote Angela Merkel’s spokesman Steffen Seibert on Twitter.

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