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(MULN) – Mullen Automotive Partners with Leading Mechanical, Plant Engineering Firm

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, is partnering with Dürr, one of the world’s leading mechanical and plant engineering firms. Durr brings extensive expertise in automation and digitalization to the partnership, which is designed to focus on MULN’s EV manufacturing footprint.

According to the agreement, Dürr, which has extensive expertise in automation and digitalization, will support Mullen’s Advanced Manufacturing and Engineering Center (“AMEC”) with full integration for vehicle assembly and complete paint shop technologies; the engineering center is located in Tunica, Mississippi.

“Dürr is a leading international manufacturing systems and technology provider for the automotive industry,” said Mullen Automotive CEO and chair David Michery in the press release. “Our Tunica facility will be a leading example of manufacturing automation. Our goal is to have the best and most efficient manufacturing footprint in the U.S., and Dürr is a key partner in achieving this effort.”

To

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Automotive and IoT Software Firm Nets $8M

Dellfer, an automotive and IoT cybersecurity software company, announced an $8 million Series A investment from mobility supplier DENSO and specialist cybersecurity private equity firm Option3.

The funds will be used to accelerate the time to market for its cybersecurity solutions for the automotive industry, Dellfer said. The three companies noted that the automotive industry and other IoT environments increasingly require cybersecurity solutions to protect potential vulnerabilities.

“The requirement for cybersecurity solutions for auto manufacturers has never been stronger,” Tony Cannestra, DENSO’s director of corporate ventures and Dellfer board member, said in a Tuesday (Oct. 19) press release. “We tested a wide array of available software solutions and found Dellfer’s approach to be highly valuable and a good fit for our customers’ needs.”

Areas With Greatest Future Vulnerability

“This investment underscores Option3’s targeted approach cybersecurity investing, focusing on those areas with the greatest future vulnerability, like automobile cybersecurity,” said 

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Automotive SaaS Firm MotorK Preps $173M IPO

MotorK, an Italian Software-as-a-Service (SaaS) company serving car dealers, is preparing to go public with an initial public offering (IPO) that could value the firm at 150 million euro ($173 million).

The company announced this week that the IPO is expected to happen before the end of the year, with MotorK listing on Euronext Amsterdam. 

Marco Marlia, MotorK’s co-founder and CEO, says the IPO will “unlock massive opportunities” for his company, its partners and its customers. 

“As a tech company with automotive in our DNA, we have worked tirelessly to build a market-leading platform and a successful growth strategy that combines organic growth with strategic acquisitions,” he said. “We believe this is just the beginning of our journey and that the runway ahead of us is expansive.” 

Founded in 2010, MotorK offers a cloud-based SaaS platform called “SparK,” which includes a suite of products designed to support “the

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Qualcomm Said to Make Binding Bid for Auto Tech Firm Veoneer

(Bloomberg) — Qualcomm Inc. has made a formal bid to buy automotive technology company Veoneer Inc. for more than $4 billion, beating a previous offer from Magna International Inc., according to people familiar with the matter.

The U.S. semiconductor company has formalized its offer of $37 a share, the people said, asking not to be identified discussing confidential information. Qualcomm is interested in Veoneer’s Arriver software unit, which helps cars perceive and make driving decisions, and would likely later divest the non-Arriver assets to private equity firms or other automotive companies, the people said.

Veoneer shares rose as much as 4.1% in U.S. trading. Representatives for Magna, Veoneer and Qualcomm declined to comment.

Crash-avoidance and hands-free driving technologies have become a hotly-contested battleground as automakers seek to boost prices and get the edge on rivals. Both global suppliers and chipmakers are positioning for growth in the market for advanced safety

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