International Business Magazine Issue 8 by International Business Magazine

WELCOME NOTE FROM Managing Director Shashank M Co-Founder & CEO Shankar VS Chief Editor Pragnesh Shah Editor Ujal Nair Assistant Editor Medhaj Nair Ramya Saravanan Head of Operations Kevin Harris Head of Production Shank Mendez Head of Research Laura Edwards Head of Media Sales Charles Grey Media Sales Manager Chris Young Advertising contact chris@intlbm.com Content Managers: Daniel Edwards, Sumana Shankar Business Development Paul Cooper, Alisha Taylor, Jane Sanders, James Smith, Jason Graphic Designer R Ravi Kumar Account Manager Agnes Wong

EDITOR An Electrifying start to 2022 The year 2021 was full of hurdles for the business community. This was also largely evident for the B2C community where the consumers were unconventionally hesitant with their purchases. The decreasing purchasing power and the overall negative vibe attached to the second wave of the pandemic have hit a large chunk of consumers.

The year 2022, however, had a major boost to the overall confidence of the industry with several offline events and activities coming back. In the month of January, we saw the successful conduction of the Consumer Electronics Show (CES 2022) in Las Vegas. The event saw the participation from some of the major electronic manufacturers from across the globe as well as some innovative new technologies. In this edition, you will see a broad coverage of the CES 2022. We have handpicked some of the most exciting news from CES 2022 to give you a glimpse of how promising the post-COVID season is going to be.

Flip through the pages to read about the new partnership between Daimler and BYD, the new concept vehicle from Mercedes-Benz, the new announcement from Qualcomm, Philips, GM and Hyundai. With COVID protocols and restrictions coming down across the globe, it would be suitable to plan the long due holiday to an exotic destination. Have a glance at the exclusive interview with Edmund Bartlett, the tourism minister of Jamaica to learn more about the multi-destination tour packages and other opportunities from the Caribbean islands.

Offies:

We hope the innovations at CES 2022 would inspire many of us to venture out into the untested waters or new land of opportunities. This new fervor in entrepreneurship is bound to bring back the economy to its pre-pandemic levels sooner than predicted.

Offie Address:

Pragnesh Shah Chief Editor

Registered Adddress: Sharjah Media City (Shams), Al Messaned City, Al Bataeh, Sharjah, United Arab Emirates, P.O. Box: 515000 Suite No 502, Al Tawhidi 1 Building, Floor 5, Khalid Bin Al Waleed Road, Bur Dubai, Dubai, United Arab Emirates. Email: info@intlbm.com Phone: +971 55 686 6713

Be sure to check out our website at

www.intlbm.com

Connect with us on Twitter: @interna11168480 and Facebook:@intlbm Instagram: @intlbm.

Mitsubishi electric truck buyers to get electricity package from ORIX

Mercedes-Benz unveils Vision EQXX concept EV at CES 2022

GM showcases its next-gen transformation at CES 2022

Daimler and BYD sign agreement to promote new energy vehicles at DENZA

BUSINESS 06. Daimler and BYD sign agreement to promote new energy vehicles at DENZA 10. Global Auto Arena and trends in 2022 CORPORATE 14. ‘The pandemic has emphasized the need for multi-destination tourism’: Edmund Bartlett, Tourism Minister of Jamaica

FINANCE 18. Exotec-Goldman Sachs Asset Management raises $335 Mn Series D Funding

TECHNOLOGY 20. Mitsubishi electric truck buyers to get electricity package from ORIX 24. Mercedes-Benz unveils Vision EQXX concept EV at CES 2022 28. GM showcases its next-gen transformation at CES 2022 32. Qualcomm forms new partnerships at CES 2022 to expand digital experiences 36. CES 2022: Hyundai Motor unveiled its latest PnD modular platform 38. Philips unveils new tech for audiophiles at CES 2022 40. Converge ICT adds 1.3 Tbps cable to make data networks redundant

Business

Daimler Greater China (Daimler) and its long-term

team will ensure that existing customers continue

Chinese partner BYD Auto Industry (BYD) signed an

to enjoy relevant customer services.

equity transfer agreement to realign the structural setup of their joint venture Shenzhen DENZA New

Daimler and BYD have been long-term partners in the

Energy Automotive (DENZA). Both partners intend to

Chinese market. In 2010, both companies signed the

complete an equity transfer in DENZA. Following the

contract for the 50:50 research and technology joint

equity transfer, Daimler will hold an equity interest

venture BYD Daimler New Technology Co (BDNT)

of 10% and BYD will hold 90% equity interest. The

with the goal to develop and produce NEVs in and

equity transfer is subject to regulatory approvals

for China. The vehicle was marketed under the new

and is planned for mid of 2022.

DENZA brand owned by BDNT. It was the first joint venture between an international carmaker and a lo-

The joint efforts of both shareholders is said to

cal carmaker focused purely on NEVs. Through the

have aided Denza, a pioneer of new energy vehi-

development of the DENZA brand, both Daimler and

cles (NEVs), to make robust progress with BYD

BYD is said to have gained valuable experience and

supporting in the operations and Daimler staying

customer insights in China’s high-end NEV market,

committed as a shareholder. Daimler and BYD aim

the largest and the most dynamic in the world.

to accelerate the development of DENZA in China’s fast-growing NEV market. In 2022, DENZA will introduce new models to the Chinese market and seek

In 2019, Daimler was among the first auto companies

further growth opportunities. The DENZA operation

to announce a comprehensive carbon neutrality 07

Business

plan that covers all stages of

Market EV Strategy, which helps

the automotive value chain. In

to electrify the entire public

July 2021, Daimler announced

transportation system. BYD’s new

its plans to go “all electric” by the

energy vehicles have been sold

end of this decade, where market

in more than 300 cities in over

conditions allow. China plays a

50 countries and regions across

crucial role in accelerating this

6 continents. BYD continues to

electrification strategy. In 2021,

push the boundaries of the EV

the company already offers four

industry with core technologies

all-electric Mercedes-EQ models

including the Blade Battery, DM-i

in China, three of which are locally

super hybrid technology, and

produced. Together with its local

the e-Platform 3.0. Adhering to

partners including BYD, Daimler is

values of openness and sharing,

confident in the growth potential

BYD will cooperate with Daimler

of the NEV market in China.

and other world-leading partners to transform energy consumption

As one of the world’s leading new

in the mobility and transportation

energy vehicle manufacturers,

sector, aiming to “Cool the Earth

BYD announced the “7+4” Full

by 1°C”.

Business

Over the past few years of the automotive arena Cars and Bikes have turned from a luxurious commodity to a basic necessity. Whether it is for urban commuting or a casual drive or a trip around the serene valleys with friends or near & dear ones. At times the casual drive also eases out tensed nerves and offers a relaxed, flexible feel, and entices the best travel enthusiasts in us. With the current crisis hovering over the ever surging Fuel prices along with an equal surge in global fuel demand created over the past few years, the need for sustainable, greener, eco-friendly, and emission-friendly automobiles have become quite the need of the hour. Global Auto Industries Transition & Trends in the last 4 Years: An Overview There is absolutely no doubt that the auto industry had a great glorious past, and that the global automakers would like to progress in the same line. The recent developments in automotive technology would have even astonished the once-dominant automotive pioneers like Henry Ford, Ferdinand Porsche, and Kiichiro Toyoda. However, in today’s context, the pioneers of the

auto sector have definitely understood the vitality of integrating the latest technologies with practical interiors, aggressive unique body lining, stylish exteriors, and utility options. The mandate for connected car technology that is compatible with all gadgets, software, and combined with, ambient lighting system, safety features, healthcare services, hill assist, and more are on the rise among the masses. The recent panic raised in the form of newer Covid-19 variants, and the dearth of the smart chipsets whether it would be the Taiwanese, Chinese, or the US manufactured, has definitely formed the crux of the modern automobile sector is not only threatening to put the whole industry and off course to bring it to a screeching halt The dwindling global sales figures and the long waiting periods have only added salt to the wound that began as a small scratch in 2018. As per the Statista report, the global automotive sector sales tanked down 15 percent in 2020. As per the IHS Markit report, the global Chip shortage is still worrisome and is going to continue till the second half of 2022 and will surely have its impact on the automobile sector.

Business

Electric/Hybrid Vehicles-The Sustainable, Environmental Friendly Vehicles at Docking/Charging Stations

The transition from Fuel based Vehicles to Electric and Hybrid Variants With lackluster ownership benefits and dwindling demand for the once-dominant fuel-based auto sector, along with the need of the hour, curbing out the pollution rate, the Automakers globally are now bound to change their strategy for coming out with premium, luxurious, eco-friendly, superior range efficient Electric Vehicles (EV’s) and Hybrid Variants. During the beginning of 2018-2019, the EV’s were just the prototype and yet were the much-hyped latest entrants to boost up the automotive space. However, the EVs faced the biggest hurdle in the form of setting up suitable infrastructure with accessibility and reliability provided by the ICE-powered vehicles and their ecosystem. A Spike in Digitalized Automobile Sales Digitalized sales platforms for automobiles will aid clients to shop at their convenience, explore and select the features they want on a vehicle and get the financing they require.

delivery of vehicles. Superior Connected Vehicles Connected Vehicles are linked to the Internet of Things (IoT) utilizing broadband connectivity. These vehicles offer a safe, comfortable, convenient multimedia experience, navigation assist, etc by using on-demand features that allow you to do anything you want on the web while in your vehicle. Connected Vehicles with digitalized instrument console offers numerous services comprising of maintenance alerts, controlling vehicle ambient lighting system, customizable entertainment info, and other added features. It also offers digital data and remote diagnostics, vehicle health reports, data-only telematics, access 4G LTE Wi-Fi Hotspots, get turn-by-turn directions, warn of car health issues and directly intervene to prevent breakdowns.

Additionally, dealerships now offer online sales, let an online buyer utilize the virtual walk-around technology, facilitate at-home test drives and do home 11

Business Autonomous Self-Driving Vehicles

The emergence of Light Weight Fuel Cell Electric Vehicles FCEV’s

Autonomous self-driven vehicles have stirred quite a storm in the auto sector and will soon be

In 2022, we will witness the global emergence of

replacing conventional manually-driven vehicles.

fuel cell electric vehicles that will revolutionize the

This new innovation would promote road safety,

way we commute, refuel or recharge our vehicles

curb downtime, expand the scope of last-mile

and give us a new approach towards our pollution

delivery scope, reduction in driver fatigue, and driver

norms.

negligence-related accidents. FCEVs run on Hydrogen and emit just water, making

Autonomous self-driving vehicles also offer en-

them completely environmentally friendly. With the

hancement of fuel efficiency and curb CO2 emis-

swifter chargeable fuel cell electric vehicles, ease of

sions to a great extent. It’s specifically prevalent and

convenient charging, a superior range that is said to

beneficial for long-voyage trips or trucking firms that

be 5 times more than the normal electric vehicles.

include transport and delivery of freight and other

Additionally, these vehicles will also just be emitting

services.

water from their tailpipes.

Business FCEV’s are currently becoming

Km’s.

a global level.

a huge craze and a growing number of car, truck, and SUV manufacturers

are

commenced its full operations on

A surge in Pre-Owned Vehicles However, this trend of chipset

investing The boom in the Used car and

dearth is still going to continue in

two-wheelers is another trend

2022 with more Covid-19 Waves

that will empower the automo-

predicted, and hence the recov-

As per the Research and Market

tive arena. As per the automotive

ery will be slower, yet steady.

report:

industry experts, the anticipation

fuel

cell

electric

vehicle

development.

“Global

Automotive

of the expansion is slated to be

As per the IHS Markit, the global

around 9% in the overall used car

auto industry will witness a 5%

Analysis By Vehicle Type (PVs,

sales between 2019 to 2025 as

surge in 2022 to 86.9 million

LCVs, Bus, Trucks), Distance

these vehicles have a lot of inbuilt

and within 2023, it will witness

Range (Short, Long), By Region,

technology and are not as expen-

another robust 4% surge to end

By Country (2021 Edition): Mar-

sive as the new vehicles.

at 89.7Million.

Competition and Forecast (2021-

Chip Shortage Recovery and

Overall,

2026) from March 2021, the glob-

auto industry revival

automotive industry within the

FCEV Market:

ket Insights, Covid-19 Impact, the

vision

for

the

next few years looks brighter

al FCEV the market is gaining traction amidst stringent regula-

The latest advanced AI technol-

albeit the presence of certain

tory standards regarding environ-

ogy, bot-enabled Siri, Cloud, IoT

hurdles in the form of fresher

ment conservation, supportive

powered Android, as well as an

Covid-19 Waves, recession, and

government policies on energy

iOS-enabled entertainment sys-

some other factors.

conservation, as well as grow-

tem, is the latest norms in the

ing consumer awareness about

auto industry.

Article by Medhaj Nair

product quality. However, due to the deadly CovAs per the Research and Market

id-19 Pandemic, the shortage in

report preview, the global FCEV

the Chip industry was inevitable

auto market is poised to grow at

and had impacted the Car majors

$415.45 Million in the year 2020

badly. It had even put an abrupt

and is poised to double its worth

halt to manufacturing assembly

in the next five to ten years.

lines from March-July 2021.

The only drawback FCEVs suf-

Automakers across the globe felt

fer is that the vehicles can only

some respite after August 2021,

be utilized for commuting short

when all leading chip manufac-

ranges that range mainly from

turers, comprising of the ones

100 Km’s to a maximum of 300

from Taiwan, the US and China

Corporate

Ever dreamt of a vacation on a Cruise Liner. Chanc-

islands. The homeland of Reggae music is home to

es are, the moment the word Cruise linear was men-

around 2.8 million people with major cities including

tioned, the first destination that must have crossed

Kingston, Montego Bay and more.

your mind are the Caribbean islands. A massive region located in the Caribbean sea that consists of

We spoke to Edmund Bartlett, Honourable Minister

13 sovereign states and 17 dependent territories.

of Tourism for Jamaica, who was on a tour of the

Among the most visited regions are the Cayman is-

Jamaican Pavillion at the ongoing Dubai Expo

lands, Cuba, Dominican Republic, Haiti, Puerto Rico

2020. In his 40+ years of political career, Minister

and Jamaica.

Bartlett has donned multiple hats, including that of a legislator in Central government in both Chambers

While Cuba is all about the beaches and the cultur-

of Parliament and has handled several ministerial

al experience, the Cayman Islands are known for

portfolios for the country. Since this award-winning

their coral reefs. Haiti and Dominican Republic are

public servant is currently overseeing the overall

famous for their diverse geographical gifts. Puerto

development

Rico is a favourite among the US and European tour-

International Business Magazine procured an

ists for its vast scenic landscape. Jamaica is one ar-

exclusive opportunity to interact with him and

chipelago that boasts of giving a glimpse of the rich

understand what Jamaica has to offer beyond the

cultural and diverse natural beauty of the Caribbean

adventure activities and the cultural experience.

Jamaica’s

tourism

industry,

Corporate What tourism means to Jamaicans?

in 2018. It was developed on the basis of a panel conference in 2017 on sustainable tourism develop-

As per the latest reports, Jamaican tourism has a

ment declared by the United Nations. Out of that, we

9.8 percent share in its GDP. The sector represents

had something called the Montego Bay declaration which highlighted three key outcomes.” In 2017, A 15-point Declaration had emerged from the United Nations World Tourism Organization (UNWTO) Global Conference on Sustainable Tourism held in Montego Bay in November, 2017. The Declaration pushed for the establishment of a Global Tourism Resilience Centre in the Caribbean, including a Sustainable Tourism Observatory, to assist destinations’ preparedness, management and recovery from crises that impact tourism and threaten economies and livelihoods. The other key developments from the Declaration were about pro-

12.6 percent of the total labour force of the coun-

tecting the environment, promoting innovation and

try. Although Jamaica has its own official currency,

supporting job creation. Minister Bartlett went on

Jamaican dollars, it does support trade through the

talking about the Montego Bay Declaration, “GTRC-

American dollars as well. Reportedly, the foreign di-

MC is an institute that could respond to any kind

rect investment for the tourism sector in 2019 was

of situation. It can anticipate it, manage it and then

USD 120 million. This figure came down to 86.3 mil-

quickly recover from it. The Montego Bay Declara-

lion USD in 2020, due to the COVID-19 pandemic.

tion also opened up opportunities for destination

Sources have confirmed that in 2019, Jamaica saw

tourism through greater value propositions for vis-

a total of 4,234,150 visitors, which leads to a tourist

itors. It enabled long-haul traffic to come into our

per resident ratio of 1.44. As per a UNWTO report,

space, which maximized their experience. It was

the Caribbean islands have the strongest level of re-

also fundamental in improving the capacity of the

covery and Jamaica was the number one country in

small and medium enterprises that form 80 percent

that regard.

of the operational structure of tourism but receive only 20 percent of the returns.”

We opened our interaction with Minister Bartlett on the topic of COVID-19 pandemic. He explains, “Ja-

Far away land, yet close to all

maica was the first country to develop a set of protocols after the WHO declared the pandemic. Even

Part of the Greater Antilles chain of islands, Jamaica

before that, we had established the first and only

is the third-largest island in the Caribbean after Cuba

global world tourism crisis and resilience manage-

and Hispaniola. It is located around 1000 km to the

ment centre (GTRCMC – Global Tourism Resilience

south of Miami, Florida. It is majorly connected to

and crisis management centre). It was established

around 200 gateways in the US. One of the prime

Corporate agendas of the Minister in the UAE is to improve

Bartlett, dealt with old challenges and brought in

the connectivity with Asia, Middle East and Far

new systems, new processes and new methods of

East countries. It has been revealed that Jamaica

managing the industry and creating new experiences

is sincerely talking with several countries to forge

that are in line with customer expectations. The new centre of Innovation has enabled Jamaica to keep up with the latest trends of tourism and even set some new ones. The incubation program at the centre has been inviting new young entrepreneurs and innovators to convert ideas into new value propositions. The minister has confirmed that JCTI has been key in bringing in new investments and capital for Jamaica. The Montego Bay Declaration has helped the Jamaicans meet the specific demands in tourism and has led to the development of the indigenous

a multi-destination tourism strategy to tackle the challenges with long-haul travels. Mexico, Cuba, Panama, the Dominican Republic and Columbia have shared their interests towards multi-destination tourism with Jamaica. Minister Bartlett revealed, “We are looking to enable easier and more seamless access into our destination through single visa regimes and those types of travel facilitation. The COVID-19 pandemic has replaced competition with a new word called ‘Co-petition’. It is time to replace the Red Ocean strategy with the Blue Ocean strategy where we collaborate and establish distinctiveness through collaboration. This way, the visitors will have plenty

artists of the nation. Talented new craftsmen and

of choices and access to all.”

artists are being trained to deliver and cater to the new trends and supply authentic and original works

An island with an ocean of opportunities

to the visitors. The government and the banks have released 1 billion Jamaican dollars to be lent

The Jamaican Centre of Tourism Innovation (JCTI),

out to Small and Medium Enterprises (SMTEs) at

which was launched in 2019 by Minister Edmund

affordable interest rates.

Corporate Minister Bartlett extends his ambitions for the entire archipelago. He says, “We can create constellations of cultural and other experiences of the Caribbean islands and market them under one package. The UNWTO is probably the right platform to pull together the efforts and resources of all the island nations around the world. The Global Tourism resilience and the crisis management centre in Jamaica is attempting to do exactly that. We have several satellite centres, for instance, one in Nairobi in Kenya. It is getting information and providing guidance to countries that are in East Africa and some European countries.” He further adds, “We are looking at how to bring all the important critical values to tourism-dependent destinations. We are also addressing other broader issues of cybercrime and economic disruptions similar

Edmund Bartlett Tourism Minister of Jamaica

to the 2008 economic meltdown. We are going to see more in terms of managing terrorism and recognizing human trafficking. The ability of countries to manage these issues is going to affect their future development and their effectiveness in the global market.

In 2022, Jamaica is going to celebrate its 60th year of Independence. Minister Bartlett believes that the prime concern of the government of Jamaica is to build an economy that promotes security and safety for the people. He says that in this digital age, the power of knowledge has been emphasized even more and made every person’s views count. It has set up a level playing field where some of the smallest countries are turning out to be as important as some of the biggest countries of the world. While being part of the ongoing Dubai Expo 2020, Minister Bartlett observed, “This Expo is happening in a context when the world is searching for more information, for better guidance and for better utilization of knowledge.” Article by Ujal Nair

Finance

Exotec, a global robotics warehouse leader, recently

Exotec will also leverage funds to endure launching

announced raising $335Mn Series D Funding Round

larger-scale

at $2Bn valuation, with ample aid from Goldman

Europe, and Asia for global brands. According to the

Sachs Asset Management leading the round with

firm, planning is underway for hiring 500 latest R&D

follow-on investments from 83North and Dell

engineers by 2025 to accelerate the development

Technologies Capital in the Growth-Equity Business.

of its high-performance warehouse automation

developments

North

America,

technology.

Following the most significant supply chain disruptions of the modern era, there’s only room left for innovation. While the entire logistics sector is fraught with uncertainty, one of the most prevalent challenges is ongoing labor shortages. Romain also added: “Exotec pioneers a new path: elegant collaboration between human and robot workers that delivers warehouse productivity in a lasting, far more sustainable way.” Romain Moulin, Co-founder, and CEO of Exotec

Finance

Exotec is well-positioned to seize the enormous warehouse automation market opportunity both because of its global presence and strong track record of success with industry-leading retailers and brands.” Christian adds on: “Exotec builds scalable solutions that are an accelerant for change and supports business growth despite market disruptions.

Christian Resch, Managing Director in the Growth Equity business within Goldman Sachs Asset Management

Exotec warehouse robotics have transformed our logistics operations in multiple markets around the world, most recently in our Montreal fulfillment center. We value the unique combination of speed, performance, and flexibility that allows us to provide leading service to our customers. We look forward to a long-term partnership with Exotec.

Richard Tremblay, Logistics Manager at Decathlon Canada

According to Exotec, the pandemic had illustrated

signed 8 new, large enterprise customers including

how the supply chain operations are critical to

Gap and Geodis, and expanded its work with existing

daily, modern life as communities remain to feel

clients in new markets. Most recently the largest

the negative impacts of ongoing disruptions and

sporting retailer in the world, Decathlon, deployed

breakdowns.

the Skypod System in its Montreal fulfillment center following successful deployments in Europe.

From inventory delays to port congestion, these compounding challenges are only anticipated to

New technology to augment the flagship Skypod

increase in frequency and severity. A recent report

System: The company debuted its Skypicker

from Resilinc revealed that supply chain disruptions

technology, an articulated arm able to move 600

were up 67% year-over-year.

items per hour to support high-volume fulfillment and returns.

According to Exotec, the firm has doubled its revenue and tripled its customer base since the closure of its

Intensifying the global team: To date, Exotec employs

$90M Series C funding round in the fall of 2020.

more than 300 professionals around the world and

Customer expansion in North America: Exotec

aims to double its global headcount by 2023. 19

Technology

Japan-based, Hartmut Schick-led

already

2019

business in 2009 and currently

Mitsubishi Fuso Truck and Bus

that they will shift their entire

supply electricity mainly to special

Corporation (MFTBC) and Mako-

product portfolio to CO2 neutral

high-voltage users such as stores

to Inoue-led Japanese financial

vehicles by 2039. The “eCanter”

and office buildings in the supply

group, ORIX Corporation (ORIX)

was released in 2017 as the first

areas of Tohoku Electric Power,

announce a collaboration to offer

mass-produced

light-

Tokyo Electric Power, Chubu

customers electric trucks and en-

duty truck in Japan with zero CO2

Electric Power, Hokuriku Electric

vironmentally-friendly electricity.

emissions while driving. Since

Power, Kansai Electric Power,

then, MFTBC has delivered more

Chugoku Electric Power and

than 300 units of the eCanter

Kyushu Electric Power. Moreover,

worldwide, and continues to

ORIX

receive

services that analyze the energy

In this collaboration, MFTBC will propose ORIX’s environmentallyfriendly electricity when selling

announced

strong

electric

interest

from

offers

energy-saving

customers. Additionally, MFTBC

usage

is working on establishing an

plants, warehouses, stores, and

“eMobility ecosystem”. This is

other facilities. They then use this

a comprehensive portfolio of

information to provide end-to-

products and services designed

end assistance on implementing

customers in their efforts to

energy-saving methods.

tackle

will encourage the social shift

their

electric

eCanter.

With

light-duty this,

truck

MFTBC

and ORIX aim to accelerate the

decarbonization

logistics

industry,

the

supporting

environmental

issues.

support

eMobility,

sustainable

which

Trial sales activity begins in

transportation.

selected regions, and sales will

The collaboration with ORIX on

be gradually expanded to other

electricity, which is the foundation

areas from 2022 (Except for

of electric trucks, is part of this

Hokkaido, Shikoku and Okinawa).

effort to establish an ecosystem.

status

customers’

By combining each company’s strengths, MFTBC and ORIX aim

support

decarbonization further

customers’ efforts

contribute

and the

realization of a carbon-neutral As a pioneer of eMobility, MFTBC

ORIX began their electricity retail

society.

Technology

Mercedes-Benz, the German luxury car brand has

that comes to life with responsive real-time graphics

revealed a new technology blueprint at CES 2022 in

and spans the entire width of the vehicle. Other

Las Vegas with the reveal of the Vision EQXX con-

elements of the UI/UX help the car and driver work

cept EV. It is said to be designed to deliver more than

together as one, and even use technology that

1,000 kilometres on a single charge (based on inter-

mimics the workings of the human brain. Reportedly,

nal digital simulations in real-life traffic conditions)

the battery pack in the VISION EQXX holds almost

with an energy consumption of less than 10 kWh per

100 kWh of energy, yet has 50% less volume and

100 kilometers. This converts into 6 miles per kWh.

is 30% lighter than the already benchmark pack in

Mercedes-Benz has confirmed that it has achieved

EQS.

all of this through cutting-edge electric drivetrain as well as the use of lightweight engineering and sus-

Mercedes-Benz and the HPP team developed a

tainable materials.

completely new battery pack for the VISION EQXX, achieving a remarkable energy density of close to

Its UI/UX features a radical new one-piece display

400 Wh/l. This benchmark figure is what made

Technology

it possible to fit a battery pack

removal. The OneBox also in-

ensures the electric drive unit,

with just under 100 kWh of usa-

corporates novel safety devices

comprising the power electronics,

ble energy into the compact di-

with energy-efficient operations

electric motor and transmission,

mensions of the VISION EQXX.

that consume significantly less

maintains the most efficient

Another feature that contributed

energy than the equivalent com-

temperature balance at minimum

to the impressive energy density

ponent in a production EV. The

energy cost. Technically, this

is the high level of integration in

battery also features active cell

system is a combination of an

the battery pack. This platform,

balancing, which means drawing

innovative air-flow management

developed jointly by Mercedes-

the energy evenly from the cells

system and a cooling plate. The

Benz R&D and HPP, created more

while the car is driving – in effect,

cooling plate is installed in the

room for cells and helped reduce

giving it greater stamina. Overall,

vehicle floor, enabling it to take

the overall weight. The separate

the battery weighs around 495

advantage of the air flowing

compartment for the electrical

kilograms, including the OneBox.

along

and electronic (EE) components,

the

underside

the

VISION EQXX. This is the most

called the OneBox, likewise made

The

more room for cells, with add-

interaction

aero-shutters,

of keeping the electric drive unit

ed benefits for installation and

coolant valves and water pumps

cool under normal conditions,

carefully of

engineered

aerodynamically

efficient

way

allowing the vehicle to gain about 20 kilometres of range in the most aerodynamic mode. The electric system that powers many of the ancillaries in the VISION EQXX draws additional energy from 117 solar cells on the roof. It was developed in collaboration with the Fraunhofer Institute for Solar Energy Systems ISE 25

Technology

– Europe’s largest solar energy

sible for Development and Pro-

10 kWh per 100 kilometres. It

research institute. The net result

curement said, “VISION EQXX

has a range of more than 1,000

of reducing the energy drain on

has seen the best minds from

kilometres[2] on a single charge

the high-voltage system is an in-

our R&D centres work together

using a battery that would fit

crease in range. On a single day

with engineers from our Formu-

even into a compact vehicle. The

and under ideal conditions, this

la 1 and Formula E programmes.

can add up to 25 km of range on

They are proving that innovations

long-distance journeys.

from motorsport – where powertrains are already highly electri-

For the VISION EQXX Mercedes-

fied – have immediate relevance

Benz

for road car development.”

engineers

worked

car in so many dimensions – and it even looks stunning and futuristic. With that, it underlines where our entire company is headed: We will build the world’s most desirable electric cars.”

cooperation with Bridgestone.

VISION EQXX is an advanced

Together, they took advantage of

Ola Källenius, Chairman of the

Bridgestone’s Turanza Eco tyre

Board of Management of Daimler

combined with lightweight and

AG and Mercedes-Benz AG said,

environmentally friendly ENLITEN

“The

and ologic technology enabling

EQXX is how we imagine the

ultra-low-rolling-resistance.

future of electric cars. Just one-

developed from a clean sheet to

and-a-half years ago, we started

an on-road compliant one in 18

Markus Schäfer, Member of the

this project leading to the most

months.

Board of Management of Daim-

efficient

ler AG and Mercedes‑Benz AG,

built – with an outstanding

Chief Technology Officer respon-

energy consumption of less than

Mercedes-Benz

VISION

Mercedes-Benz

ever

The VISION EQXX is part of a technology programme that can adapt innovative technologies for series production faster than ever before. This concept vehicle was

Technology

VISION EQXX: key technical data at a glance Battery energy content, usable

kWh

Max. system voltage

Volts

Energy consumption

kWh/100 km(miles/kWh)

cd value

<100

<10(>6) 0.17

Max. power output

~150

Wheelbase

280

Gross vehicle weight

~1,750

Technology

GM showcases its next-gen transformation at CES 2022

The Halo Concept Portfolio embodies Cadillac’s vision for the next decade and beyond with a range of personal autonomous options and advanced connected vehicle features. Pictured (l-r) PersonalSpace, SocialSpace and InnerSpace.

General Motors Chair and CEO Mary Barra outlined the waves of change that are coming as society moves toward the mass adoption of electric vehicles at the ongoing CES 2022 in Las Vegas. The Ultium Effect experience begins with GM’s introduction of the Ultium EV platform in early 2020. Ultium, which was recently recognized among Fast Company’s “Next Big Things in Tech 2021” underpins vehicles including the GMC HUMMER EV Edition 1 Pickup and the BrightDrop EV600, which were delivered to initial customers late last year, as well as the Cadillac LYRIQ when deliveries begin later this year.

General Motors Chair and CEO Mary Barra delivers the virtual keynote at CES 2022, outlining the waves of change that are coming as society moves toward the mass adoption of electric vehicles. Headlining GM’s CES 2022 is the 2024 Chevrolet Silverado EV. This reimagined full-size pickup was developed from the ground up and leverages the power of GM’s Ultium Platform. (Photo by Steve Fecht for Chevrolet)

Technology At the virtual keynote, Marry Barra revealed the 2024

freeform infotainment screen, and the latest vehicle

Chevrolet Silverado EV. As per reports, the Silverado

technologies that can evolve over time.

EV will be available in two configurations, an RST First Edition and a fleet-oriented WT model. It has

GM has also confirmed plans for Chevrolet Equinox

also been confirmed that it would offer an estimated

EV SUV with an estimated MSRP starting around

400-mile range on a full charge along with 10.2kW

$30,000 in the U.S. as well as a larger Chevrolet

of offboard power, available four-wheel steering,

Blazer EV SUV. Both Equinox EV and Blazer EV will

fixed-glass roof, Multi-Flex Midgate with a load floor

be available in 2023. These three products will place

of up to 10 feet, 10 inches when combined with the

Chevrolet EVs in the industry’s two largest segments

Multi-Flex Tailgate, a large, 17-inch-diagonal LCD

and one of the fastest-growing segments in the U.S.

GM’s plan to reach leadership in EV market share in the U.S. will include a Chevrolet Equinox EV SUV with an estimated MSRP starting around $30,000 in the U.S.

Moving ahead with partnerships GM is working to build an EV movement beyond its retail business through the BrightDrop ecosystem, the Chevrolet Silverado EV Work Truck, and even component sales for commercial and recreational vehicles. Customers planning to place fleet orders include FedEx and Walmart (BrightDrop EV600) as well as Enterprise and Quanta (Chevrolet Silverado EV).

The BrightDrop EV600 is an all-electric light commercial vehicle purpose-built for the delivery of goods and services. Walmart signed an agreement to reserve 5,000 BrightDrop EVs to support the retail giant’s growing last mile delivery network and goal of operating a zero-emissions logistics fleet by 2040. 29

Technology As per reports, GM and Cruise are pursuing a com-

processing capability of several hundred person-

prehensive path to autonomous mobility with the

al computers but is only about the size of two

aim to deliver the first personal autonomous vehicle

laptops placed on top of one another.

from General Motors as soon as mid-decade. The partnership focuses on creating economies of scale

Cadillac’s Halo Concept Portfolio with the Inner-

that lower costs and increase the quality of Cruise’s

Space and OpenSpace autonomous vehicles

rideshare and delivery networks while bringing the

builds on the PersonalSpace vertical takeoff and

positive impacts of autonomous vehicles to a larg-

landing vehicle and the SocialSpace personal

er audience. GM claims that it will be the first com-

autonomous vehicle introduced at CES last year.

pany to use Qualcomm Technologies’ Snapdragon

When combined, the four illustrate a potential fu-

Ride™ Platform for advanced driver assistance tech-

ture for multimodal luxury travel when GM’s Ul-

nology, defined by software developed in-house by

tium EV and Ultifi software platforms are fused

GM. Co-developed by GM and Qualcomm for Ultra

with autonomous driving technology.

Cruise, the new compute architecture will have the

Headlining GM’s CES 2022 is the 2024 Chevrolet Silverado EV. This reimagined full-size pickup was developed from the ground up and leverages the power of GM’s Ultium Platform.

GM is redefining how people and goods are moved. Our commitment to a vision of a world with zero crashes, zero emissions and zero congestion has positioned us to lead. As we implement our growth strategy, we have an opportunity and, frankly, an obligation to create a better future for generations to come. That’s the Ultium Effect. With that capability comes the responsibility to use it. GM’s Ultium Platform means we no longer need to imagine a zero-emissions future; we can start building it. - Deborah Wahl GM global chief marketing officer GM

Technology

At the 2022 Consumer Electronics

3rd

Generation

Show

Cockpit

Snapdragon Renault

weight AR glasses to deliver rich

Technologies, announced their

Group will work with Qualcomm

and immersive experiences, and

collaboration with a number of

Technologies to leverage the

plans to integrate software like

companies to enhance the digital

Snapdragon Digital Chassis to

Microsoft Mesh and Snapdragon

experience across sectors. As

equip upcoming Renault vehicles

Spaces™ XR Developer Platform.

part of its latest collaboration

with the latest connected and

with Microsoft, Qualcomm is

intelligent solutions for its next-

Hugo Swart, vice president and

going to expand and accelerate

generation vehicles.

general manager of XR, Qual-

the

(CES),

adoption

Qualcomm

platforms.

comm Technologies, Inc. “Qual-

augmented

reality (AR) in both the consumer

Pushing

and enterprise sector. Under

Metaverse

ahead

with

the

comm Technologies’ core XR strategy has always been delivering the most cutting-edge tech-

a new partnership with Volvo

wave of power-efficient, light-

Cars, Qualcomm is going to

Qualcomm Technologies is work-

nology, purpose-built XR chipsets

enhance infotainment systems

ing with Microsoft across several

and enabling the ecosystem with

in upcoming fully electric cars.

initiatives to drive the Metaverse

our software platforms and hard-

It will be incorporated with

ecosystem, including developing

ware reference designs. We are

Volvo and Polestar brands with

custom AR chips to enable a new

thrilled to work with Microsoft to

Technology

help expand and scale the adop-

Developing next-gen automotive

Google Assistant and precise

tion of AR hardware and software

cockpits

navigation with Google Maps,

across the entire industry.”

as well as a broad ecosystem of Volvo Car Group and Qualcomm

automotive applications and ser-

Rubén Caballero, corporate vice

Technologies

optimized

vices on Google Play. Future im-

president Mixed Reality, Micro-

and aligned the software devel-

provements will be rolled out as

soft. “With services like Microsoft

opment pipeline to enable a prod-

over-the-air updates.

Mesh, we are committed to deliv-

uct with improved performance:

ering the safest and most com-

2.5 times faster overall system

As a key component of the

prehensive set of capabilities to

speed, 5 to 10 times faster graph-

power metaverses that blend the

Snapdragon® Digital Chassis™

ics rendering, and 2.5 times fast-

physical and digital worlds, ulti-

–

er audio digital signal processing.

cloud-connected platforms that

With Google’s Android Automo-

individually or collectively digitize

tive Operating System (AAOS),

the numerous systems inside any

the Polestar 3 and Volvo Cars’

automobile – the Snapdragon

upcoming fully electric SUV will

Digital Cockpit Platforms are

feature: hands-free help from

designed

mately delivering a shared sense of presence across devices. We look forward to working with Qualcomm Technologies to help the entire ecosystem unlock the promise of the metaverse.”

have

comprehensive

help

set

carmakers

Technology utilize advanced displays, audio,

tion, and audio processing over

vice president software factory,

computing, and connectivity to

prior alternatives, the Snapdrag-

Renault Group. “As we maintain

redefine infotainment. Open and

on Cockpit Platforms represents

our position as a leading global

scalable, these technologies are

the cutting edge of automotive

automaker, we look to Qualcomm

engineered for automakers to

technology. We are honored to

Technologies’ vision and innova-

customize the in-car experience

work with Volvo Cars to enable

tion with 5G, the digital cockpit,

to the needs of customers and

the next-generation experiences

and the new Snapdragon Ride

stay connected to customers

we are building together.”

platforms enabled with Arriver

after

purchase

Computer Vision stack that are

provide

updates and additional features

“Our goal is to support Volvo Cars

on demand.

by integrating cutting-edge, scalable and upgradable technology

“Volvo Cars is a company that

that provides premium experi-

believes in working with technol-

ences today and into the future

ogy leaders like Qualcomm Tech-

for their customers,” said Enrico

nologies and Google to provide

Salvatori, senior vice president

the best experience to our cus-

and president of Europe/MEA,

tomers,” said Henrik Green, chief

Qualcomm Europe, Inc. Delivering

forthcoming fully electric SUV, we

intelligent experiences

connected

and

Renault Group is looking to incorporate Qualcomm’s open

“Our

technology

development

and scalable cloud-connected

meet the evolving demands from our customers.” Nakul

Duggal,

senior

vice

president and GM, automotive, Qualcomm Technologies,

Inc.

the Snapdragon Digital Chassis, we will help advance Renault goals

delivering

the most immersive and safe experiences for their customers. We look forward to continuing our relationship with Renault Group

with Volvo Cars spotlights the

platforms

transformative potential of our

for automotive telematics and

Snapdragon

solu-

connectivity, digital cockpit, as

tions featured in the Snapdragon

well as driver assistance, and

Digital Chassis,” said Nakul Dug-

utilize a unified architecture to

As per reports, the new tech-

gal, senior vice president and GM,

deliver enhanced safety and

nology collaboration could en-

automotive,

Tech-

immersive digital experiences

hance in-vehicle experiences for

nologies, Inc. “Utilizing our latest

that are updateable throughout

Renault’s new Mégane E-TECH

hardware and software innova-

the lifetime of vehicles.

Electric vehicle with the 3rd Gen-

automotive

Qualcomm

that

are

designed

tions to multiply the speeds of incar computing, graphics genera-

the pace of innovation to help us

Group’s

are confident our infotainment system will reach the next level.”

Chassis to help us accelerate

“With a revolutionary platform like

product officer, Volvo Cars. “With Qualcomm’s technology in our

part of the Snapdragon Digital

to develop automotive solutions as we advance toward the digital age of the automotive industry.”

eration Snapdragon® Cockpit Thierry Cammal, alliance global

Platforms.

Technology

Hyundai Motor Company recently displayed its Plug and Drive (PnD)

As per the Hyundai Motor an-

modular platform at CES 2022 empowering the mobility of the con-

nouncement, the global PnD

ventionally inanimate things, from small objects to large community

modular platform is an all-in-one

spaces.

mobility solution that integrates out intelligent steering, braking,

The leaders of Hyundai Motor and Boston Dynamics, at the event,

in-wheel electric drive, and sus-

displayed out a joint vision for robotics in both the real world and

pension hardware.

metaverse under the core theme of ‘Expanding Human Reach’. The firm also highlighted that the

Hyundai Motors also introduced strategic initiatives for building up

single wheel unit utilizes a steer-

to advanced mobility knowledge with an unlimited Mobility of Things

ing actuator for infinite wheel ro-

(MoT) ecosystem. The firm also displayed out a range of robots and

tation, meaning it can turn 360

robotic concepts.

degrees, which empowers out

Technology

a holonomic movement, like a

kinds of personal mobility, con-

figure skater. LiDAR and camera

nected to communicate, move

sensors empower a PnD-enabled

and perform tasks autonomous-

object to move autonomously.

ly.” Hyundai also displayed out the MobED (Mobile Eccentric Droid)

Dong Jin Hyun, Vice President

small mobility platform with the

and Head of Robotics Lab of

Drive & Lift (DnL) module at CES

Hyundai Motor Group stated: “We

2022 which offers out an all-in-

are directing all our robotics en-

one robotics solution based on

gineering and creative efforts to-

an eccentric wheel mechanism

ward building the unlimited Mo-

that combines the drive, steer-

bility of Things ecosystem. The

ing, and braking systems into one

goal is for robotics to enable all

structure. 37

Technology

Technology TPV USA (Top Victory Electron-

drivers.Philips also announced

ics) – the company responsible

the launch of new Fidelio FB1

for the sales and marketing of

wireless soundbar, the FW1 wire-

Philips Sound products – un-

less subwoofer and the FS1book-

veiled a new range of premium

shelf sized wireless speaker.

and sports audio products under the Philips, Philips Sports and

The

newly

launched

Philips

Philips Fidelio brands at the pre-

W6205 wireless speaker is report-

CES, Pepcom Digital Experience

ed to have 1″ soft dome tweeter

– one of the largest gatherings

and a 3.5″ woofer supported by

during CES 2022, designed to

two passive bass radiators that

give the leading consumer elec-

adopt Philips unique, patented

tronics journalists and influenc-

multi-suspension driver system

ers a sneak preview of the most

to offer the maximum bass ex-

exciting new products.

tension, all working with 40W of power onboard.

At Pepcom, Philips showcased T1 wireless headphones with a

Philips also pulled the cover off its

detailed bass of a large 10mm

TAB8905 Soundbar that is report-

dynamic driver with fast and de-

edly equipped with 3.1.2 channel

tailed response of a specially op-

configuration including two Dolby

timized, small and very efficiently

Atmos Elevation drivers, 360W of

balanced armature module. An-

power, Wireless active subwoofer

other product on showcase was

and HDMI e-ARC connectivity.

Fidelio L3 wireless over-ear ANC Hybrid

Philips revealed that its Go range

ANC system, with the key criteria

of earphones will be expanded

of being able to offer the maxi-

with the introduction of S4807 &

mum level of noise cancellation

S7807 portable Bluetooth speak-

without changing the timing &

ers. It was further revealed that

musicality. It supports Bluetooth

S7807 comes with two 31mm

5.0 and Qualcomm aptX HD co-

mid-high drivers, a dedicated

dec.

70mm woofer with a passive

headphones

four-mic

radiator for deep bass with 40 Philips also premiered the new

Watts of power and 24 hours of

A7507 ‘hybrid’ true wireless ANC

playtime. The smaller S4807 fea-

headphones that is said to offer

tures two 31mm mid-high drivers

a combination of ultra-stiff, ul-

and two passive radiators plus 10

tra-lightweight, low distortion and

Watts of power and 12 hours of

highly accurate graphene-coated

playtime. 39

Technology

Leading fiber broadband operator Converge ICT

ing through the network in one second. To date,

Solutions has boosted its international network

700Gbps out of the additional 1.3Tbps capacity is

capacity by an additional 1.3 TeraBits per second

already active.

(Tbps) in the C2C cable system, making its submarine cable configuration fully redundant.

“It is our vision to make the Philippines a digital hub in Asia and securing much-needed internation-

The C2C cable system is a part of the EAC-C2C

al bandwidth is key to realizing this vision. We’re

(East Asia Crossing-City to City) network, Asia’s larg-

strengthening our international capacity portfolio in

est privately owned submarine cable network, that

anticipation of tremendous demand in data in the

stretches to 17,000 km. This cable system connects

coming years within and outside of Asia. This is a

the Philippines to major data hubs like Hong Kong,

step in future-proofing our international network,

Taiwan, Singapore, Japan, Korea, and China.

especially as we have started with our Wholesale business,” says Converge Founder and CEO Dennis

With the additional 1.3Tbps capacity on C2C going

Anthony Uy.

to Converge PoPs (points of presence), customers

are assured that the connections are now fully re-

With the addition of this new capacity, coupled with

dundant – guaranteeing network availability even in

a robust domestic digital highway and a redundant

the event of a submarine cable outage. One Tbps

international network, Converge customers are

is equivalent to 1,000 gigabits (GB) of data pass-

guaranteed fast, consistent, and reliable network

Technology

performance, especially in a re-

ital highway, Converge makes

the

companies

maintaining

gion that is prone to earthquakes

fiber connectivity at home more

and operating the cable landing

and typhoons.

enjoyable and definitely value for

stations in the Philippines for

money.

the EAC-C2C international cable systems.

As submarine fiber cuts take weeks to be repaired, having a re-

“This additional capacity ensures

silient network benefits business

sufficient and cost-effective con-

The additional investments in

customers more than ever, since

nectivity for the fast growing cus-

its international network will

this ensures continuity of opera-

tomer base of Converge, both

significantly

tions with little to no opportunity

residential and business. Gone

speeds and network diversity

loss.

are the days where high-quality

and reliability for businesses and

connectivity needed to be expen-

consumers in the Philippines.

Meanwhile, residential custom-

sive. Today, Converge is disrupt-

ers can look forward to an even

ing the market by offering solu-

more consistent and reliable in-

tions that are worth their hard

ternet performance as the addi-

earned money,” says Converge

tional capacity helps in increas-

COO Jesus Romero.

ing the company’s connectivity to the internet. This, on top of the

Converge

earlier

this

year

completion of its domestic dig-

bought majority ownership in

increase

internet

As per a press release from Converge ICT

Technology

Technology Wavemaker, a lead global media

of our Intelligence Engine, every

to channel more individual time

agency, has recently announced

passionate Wavemaker comes

and energy to performing creative

and unveiled an indigenously

together more often to strength-

tasks and producing additional

built Automation Software Tech-

en our collaboration and provoke

worth for both the firm as well as

nology-Intelligence Engine which

ever more innovative solutions

its clients – something that is of

is built for carrying day-to-day op-

for our clients.”

crucial importance for a media

erations.

agency. Mr. Wang also added: “Also, we

Currently, since Covid-19 has

hope this technology can help

made the headlines, Automation

future-proof our business and

has become more commonly

support our goal to achieve

used

business

better sustainability in human

continuity across the technology,

resources and finance functions.”

broadly

finance,

and

for

pharmaceutical

arena.

For the realization of this vision via WIE, Wavemaker has identified

In the media sector, Wavemaker

prospects and developed out

has recognized itself as one

corresponding initiatives. The firm

has been optimizing the business

incorporating

processes and surging its overall

digital transformation into work

competence since the initial

processes.

technology implementation.

the

earliest

Automation

Its

adopters

implementation

es, the latest released potentials, in turn, offers out a considerable space for further staff talent development. In bringing forth Intelligence Engine, Wavemaker has transformed its work environment into a truly more sustainable and employee-centered space. “I am excited to witness the company moving towards digital transformation. The deployment

primarily

Automation modules can auto-

aims to free its personnel from

mate repetitive yet basic market-

repetitive, dull but essential rou-

ing tasks such as advertisement

tines, allowing them to focus

and campaign monitoring with

International Business Magazine Issue 8

Articles inside

Philips unveils new tech for audiophiles at CES 2022

Converge ICT adds 1.3 Tbps cable to make data networks redundant

Mitsubishi electric truck buyers to get electricity package from ORIX

Qualcomm forms new partnerships at CES 2022 to expand digital experiences

GM showcases its next-gen transformation at CES 2022

Mercedes-Benz unveils Vision EQXX concept EV at CES 2022

CES 2022: Hyundai Motor unveiled its latest PnD modular platform