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Shareholder Proposal Seeks Reevaluation of Exec. Incentives for EVs at GM

NLPC

On June 4, National Legal and Policy Center will present a shareholder proposal at the General Motors Company advocating for GM’s board of directors to reevaluate the electric vehicle expansion targets included in its executive compensation packages. The proposal, identified as Item No. 5 on the 2024 proxy ballot, argues that GM’s focus on electric vehicles is misaligned with both the market demand for EVs and the economic realities the company faces. Last month NLPC filed a proxy memo with the Securities and Exchange Commission that explains its rationale for the proposal. GM, like many in energy-intensive sectors, has increasingly aligned its corporate strategies with a poorly substantiated, government-subsidized, and corporate media-amplified “scientific consensus” that carbon emissions will result in catastrophic effects to the planet, and to humans. These scenarios are increasingly unlikely, yet the corporate media continues to portray them as the default. Supposedly, this climate crisis can only be averted if governments and consumers adopt environmentally friendly technology, such as electric vehicles, en masse. However, electric vehicles aren’t good for the environment. Even with government subsidies, they’re expensive and unprofitable. Further, consumers don’t want to make the switch. Luke Perlot, Associate Director of NLPC's Corporate Integrity Project, stated, “Our proposal encourages a reassessment of GM’s current executive compensation incentives, which overly prioritize electric vehicle production without adequate consideration of the associated economic, environmental, and ethical risks. Instead, the company should remove these incentives and give its executive team the opportunity to pursue growth strategies without political bias.” Key Details of the Proposal: Misalignment with Market Realities: Despite substantial investments and executive incentives, the anticipated demand for EVs has not materialized at the projected scale. An open letter to President Biden signed by over 5,000 auto dealerships warned of lack of demand for EVs. Economic Viability and Subsidy Dependence: GM's profitability in the EV sector is heavily reliant on government subsidies, which are subject to political changes and could be repealed as early as 2025. Without these subsidies, the division’s path to achieving positive pre-tax earnings, currently projected for no sooner than 2025, appears increasingly precarious. Environmental and Ethical Challenges: The extraction and processing of rare-earth elements, crucial for these batteries, are predominantly concentrated in regions with poor environmental and labor standards. This not only leads to severe ecological damage, but also involves significant human rights abuses, including forced labor. Further, these elements are primarily processed in China, a geopolitical adversary of the United States. “Consumers still want internal combustion engine vehicles,” Perlot added, “and GM’s competitors are making substantial investments to meet their demand. The company cannot afford to be left behind because of misguided incentives.” Founded in 1991, the National Legal and Policy Center promotes ethics in public life through research, investigation, education and legal action. Contact Details National Legal and Policy Center Dan Rene +1 202-329-8357 drene@nlpc.org Company Website http://www.nlpc.org

June 03, 2024 11:45 AM Eastern Daylight Time

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NAFA’s Second Annual Fleet Safety Symposium: Uniting Fleet Professionals for Safer Roads

NAFA Fleet Management Association

Safety is critical in the fleet industry, and NAFA Fleet Management Association (NAFA), the vehicle fleet industry’s largest membership association, is dedicated to advancing safety standards across the board. In support of this commitment, NAFA is hosting its second annual Fleet Safety Symposium, "Enhancing Fleet Safety: An Interactive Fleet Safety Event," from June 24-26 at Oakton Community College in Chicago, IL. “The Fleet Safety Symposium is a cornerstone of NAFA’s commitment to promoting safety in fleet management. This event is designed to provide our members with practical strategies and tools to implement effective safety practices within their operations,” said Bill Schankel, CAE, CEO of NAFA. “We look forward to seeing the collaborative efforts of our participants as they work together to enhance safety standards across the industry.” Building on last year’s success, this year’s symposium introduces new, cutting-edge content aimed at addressing the evolving challenges in fleet operations. Participants will engage in interactive sessions focused on enhancing safety awareness, mitigating risks and fostering a culture of safety excellence. Jerry Curl, Chief Operating Officer at G&D Trucking Inc./Hoffman Transportation LLC, will help lead the symposium, guiding attendees through the event and driving insightful discussions. Fleet Safety Symposium Highlights and Key Features: Interactive Sessions: Engage in dynamic discussions designed to enhance safety awareness and mitigate risks. “Trip Up the Expert” Session: Challenge industry experts to uncover blind spots and develop innovative solutions to safety challenges. Expert-Led Discussions: Participate in thought-provoking conversations and real-world case studies. Hands-On Activities and Group Exercises: Experience practical training that fosters a proactive approach to safety management. Focus Areas: Safety Planning Safety Culture Safety Tools and Technologies Safety Policy Implementation This event will provide attendees with the tools, strategies and insights needed to drive positive change within their fleet operations, ensuring the safety and well-being of drivers, vehicles and communities. For more information and to register, please visit https://www.nafa.org/events/fleetsafetysymposium/ NAFA Fleet Management Association is the membership organization for professionals who manage the mobility requirements of vehicle fleets that include commercial, public safety, trucks, and buses of all types and sizes, and a wide range of military and off-road equipment for corporations, governments, universities, utility fleets, and law enforcement in North America and across the globe. NAFA’s members are responsible for the specification, acquisition, maintenance, repair, fueling, risk management, and remarketing of more than 4.8 million vehicles that drive an estimated 84 billion miles each year. NAFA’s members control assets and services well above $122 billion each year. For more information, please visit www.nafa.org, and communicate with NAFA on LinkedIn, Facebook, and X. Contact Details Keaveny Hewitt +1 919-622-5276 khewitt@onwrdupwrd.com Company Website https://www.nafa.org/

May 30, 2024 02:52 PM Eastern Daylight Time

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Mister Cartoon Continues Partnership with Turtle Wax to Launch Three New Art of Car Care Products

Turtle Wax

In preparation for summer, Turtle Wax is continuing its collaboration with Netflix star Mister Cartoon – the legendary tattoo artist and lowrider builder – to introduce three new car care products to its popular Art of Car Care™ line. Each of these will leave your car shining and protected all season long. The new products, developed with Mister Cartoon's expertise and passion for cars, are now available in-store or online at O'Reilly's or TurtleWax.com. Designed to elevate the aesthetic of your ride while also leaving it properly protected, these innovations expand upon the seven detailing products the duo launched in 2023, along with numerous air care products. The innovations include: All Metal Polish (SRP $13): This is not your average metal polish; it's a comprehensive solution for all your metal polishing needs, designed to bring out the best in your vehicle's metal surfaces. · Its powerful formula contains precision polishing agents that brighten metal surfaces and fight off future oxidation. · Specifically designed to restore the original reflection in chrome, aluminum, brass, stainless steel, and more, it will help to ensure your vehicle's metal parts stay as good as new – no matter what you drive. · Added ceramic infusion helps clean, restore, polish, and protect all metal surfaces, making it a must-have for long-term metal care. Quick Wax (SRP $12): Achieving the perfect, glossy shine for your ride is now a breeze, and it will remain fully protected, too. · Ceramic infusion provides notable shine to your finish, as well as protection and exceptional water repellency in minutes. · The powers of synthetic sealants and carnauba wax combine to create a stunning, mirror-like shine on all exterior surfaces. · The application is quick and easy. Simply spray on a clean, wet, or dry vehicle and wipe it off to reveal the gloss shine. · It's a hassle-free way to keep your vehicle looking its best, allowing you to focus on enjoying your ride! Tire Coat (SRP $14): Thanks to ceramic and acrylic infusion, your tires will experience unmatched, lasting brilliance and protection for up to a year, giving you peace of mind that your car's appearance is maintained for an extended period. · Tire Coat provides a deep black, high-gloss, layer-able shine, bringing water and dirt repellency while driving. · Scrub resistance means you can take your car wherever you want, even wash it, without worrying about removing the coating. · It dries to the touch in minutes and won't accumulate dirt, and you can hit the road without worrying about slinging. With a rich history of involvement in the automotive industry, Turtle Wax and Mister Cartoon are not just names but symbols of quality, artistry, and innovation. They bring a product line that caters to all car enthusiasts, whether they own a daily driver, lowrider, custom rims, whitewalls, or custom paint jobs. No matter what type of vehicle you own, you can trust the combined expertise of Turtle Wax and Mister Cartoon to deliver exceptional car care products, ensuring your car’s appearance is in safe hands. For more product information, visit TurtleWax.com or their YouTube page. To purchase, visit O'Reilly's Auto Parts online or in-store or TurtleWax.com. Don't miss out on the opportunity to experience the Art of Car Care line, a game-changer in car care. EDITOR’S NOTE Click here for product photos. ABOUT TURTLE WAX® The Turtle Wax story started with the launch of the first-ever bottled car wax in 1944. More than 75 years later, the 'Most Innovative Brand in Car Care' is still capturing the attention of the auto appearance industry with a cross-category assortment of No. 1 selling products. With product distribution in more than 120 countries, the Turtle Wax brand resonates globally. Still, the brand's heart remains in its hometown of Chicago, where award-winning innovation is still developed. For an inside look at the brand's breakthrough product development process or how Turtle Wax supports car culture worldwide, visit TurtleWax.com Contact Details The ID Agency Glenda Vaquerano glenda@theidagency.com Company Website http://turtlewax.com/

May 30, 2024 06:05 AM Pacific Daylight Time

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Classiq collaborates with Hewlett Packard Enterprise on Hybrid Quantum Simulation

Classiq Technologies

Classiq, a leading quantum software company, announced it has developed a rapid method for solving large-scale combinatorial optimization problems in collaboration with Hewlett Packard Labs, the central research community of Hewlett Packard Enterprise (HPE), the result of joint research on the integration of high performance computing (HPC) and quantum computing. The rising level of maturity on the diverse approaches to quantum computation is now raising questions about how to productively integrate leading edge quantum and classical HPC approaches to solve important problems to the top of the research agenda. As the demand for sophisticated computational solutions increases, the integration between HPC and quantum computing is becoming crucial. From scheduling and orchestration to hybrid computation, these two approaches are converging, creating opportunities for innovative solutions to complex problems. This collaboration between Classiq and Hewlett Packard Labs exemplifies the potential of combining state-of-the-art classical and quantum algorithms to achieve superior results The hybrid approach uses the HPE Cray Supercomputing EX system and the massive parallel execution efficiency of HPE Cray Programming Environment for high performance computing along with the Classiq synthesis engine's ability to synthesize Quantum Approximate Optimization Algorithm (QAOA) circuits to achieve noteworthy results. This solution encapsulates smaller problems to formulate an optimal approach for large-scale challenges. By merging classical and quantum algorithms, this method demonstrates a significant improvement in solving real-world problems efficiently and how to make the potential advantages of quantum acceleration readily available in the HPC data center. The work will be showcased in the paper titled “Hybrid Classical-Quantum Simulation of MaxCut using QAOA-in-QAOA,” to be presented on the 31st May at the Q-Casa workshop at the IEEE IPDPS Conference in San Francisco. “This collaboration is a testament to the power of combining cutting-edge quantum and classical computing technologies. We are incredibly proud of the work we have done together, which not only showcases the potential of hybrid computation but also demonstrates tangible efficiency improvements,” said Nir Minerbi, CEO of Classiq. “The findings in this paper are a significant step forward in accelerating the integration of quantum computing into mainstream applications.” Integration of the Classiq engine as backend to Hewlett Packard Labs quantum programming environment will enable abstract, optimized and scalable quantum/HPC software development. By continuing to innovate and develop new solutions, both companies aim to drive the accelerated integration of these key computational technologies, paving the way for future advancements in various industries. HPE’s venture capital program, Hewlett Packard Pathfinder, made a 2022 investment in Classiq. About Classiq Classiq Technologies, the leading quantum software company, provides an all-encompassing platform (IDE, compiler and OS) with a single point of entry into quantum computing, taking you from algorithm design to execution. The high-level descriptive quantum software development environment, tailored to all levels of developer proficiency, automates quantum programming. This ensures that a broad range of talents, including those with backgrounds in AI, ML and linear algebra, can harness quantum computing without requiring deep, specialized knowledge of quantum physics. Classiq democratizes access to quantum computing and equips its users to take full advantage of the quantum computing revolution, including access to a broad range of quantum hardware. Classiq’s core technology, algorithmic quantum circuit compilation, is engineered to power the quantum ecosystem of today and the future. Classiq works closely with quantum cloud providers and advanced computation hardware developers providing software for use with quantum computers, HPC and quantum simulators. Backed by investors such as Hewlett Packard Enterprise’s Hewlett Packard Pathfinder venture capital program, HSBC, Samsung, Intesa Sanpaolo and NTT, Classiq’s world-class team of scientists and engineers has distilled decades of quantum expertise into its groundbreaking quantum engine. Follow Classiq on LinkedIn, X (formerly Twitter) or YouTube, visit the Slack community, GitHub repository and website, www.classiq.io to learn more. Contact Details Rainier Communications Jenna Beaucage +1 508-340-6851 jbeaucage@rainierco.com Company Website http://www.classiq.io/

May 29, 2024 08:05 AM Eastern Daylight Time

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Halving of BTFS Storage Rewards

BitTorrent

Singapore, May 28, 2024 – To sustain the growth and success of the BitTorrent ecosystem, BTFS is set to implement a halving on the next round of rewards for storage miners on the BTFS network. From 00:00 (UTC) June 25, 2024, the daily rewards for storage miners on the BTFS network will be halved from 15 billion BTT to 7.5 billion BTT. The BitTorrent File System (BTFS) is a decentralized file storage system that utilizes blockchain technology and peer-to-peer transmission. It allows users to store their files across multiple nodes in a distributed manner, enhancing file security and reliability. BTFS also offers rapid file transfer and access, giving users greater convenience in managing and sharing files. By integrating key features of the BitTorrent Chain (BTTC), such as cross-chain connectivity and multichannel payment options, BTFS significantly enhances user experience. Currently, the BTFS network is experiencing rapid growth with over 8 million nodes across the network, including more than 6 million super miners, according to BTFS SCAN. To support the efficient operations of these nodes, BTFS initiated a rewards program and has provided an aggregate of 25 trillion BTT since the launch of BTFS Mainnet in 2019. Every two years, the BTFS rewards halving will occur causing the rewards for all storage miners across the network to be cut in half. (Halving roadmap) Moreover, halving will also prompt miners to improve node performance by optimizing node operation and reducing waste. In addition, an upgrade of the official website for the BTFS technical community and the release of BTFS v3.0 Mainnet will be scheduled in sync with the halving. These developments are expected to improve the efficiency of the BTFS protocol, expand the user base, and enhance its overall functionality. Looking ahead, BTFS is committed to continuously refining its storage rewards strategies. The goal is to expand the network of nodes participating in file storage on BTFS, providing developers with an efficient, secure, and reliable storage solution boosting both the capacity and the transaction efficiency of the BTTC network. About BTFS The BitTorrent File System (BTFS) is both a protocol and a web application that provides a content-addressable peer-to-peer mechanism for storing and sharing digital content in a decentralized file system, as well as a base platform for decentralized applications (Dapp). The BTFS team has been working on the latest network operations and BTT market sentiment, etc., to make a series of dynamic adjustments such as upload prices and airdrop reward schemes. About BitTorrent Founded with a leading peer-to-peer sharing technology standard in 2004, BitTorrent, Inc. is a consumer software company based in San Francisco. Its protocol is the largest decentralized P2P network in the world, driving 22% of upstream and 3% of downstream traffic globally. Its flagship desktop and mobile products, BitTorrent and µTorrent, enable users to send large files over the internet, connecting legitimate third-party content providers with users. With over 100 million active users, BitTorrent products have been installed on over 1 billion devices in over 138 countries worldwide. Since November 2018, TRON (TRX), Binance (BNB), and Bitcoin (BTC) holders have the opportunity to purchase one-year subscriptions of BitTorrent or µTorrent products, including Ads Free and Pro for Windows. Pro includes anti-virus and anti-malware screening, file converting and playability in HD. Users can visit bittorrent.com or utorrent.com to learn more. Website | Telegram | Medium | X | Media Contact John Chen press@bittorrent.com Contact Details John Chen press@bittorrent.com

May 28, 2024 07:53 PM Eastern Daylight Time

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Ocean Power Technologies completes Operation with Multiple Unmanned Vehicles for US Government

Ocean Power Technologies Inc

Ocean Power Technologies CEO Philipp Stratmann joined Steve Darling from Proactive to reveal the company has completed a major contractual milestone and concluded operation of several simultaneously deployed WAM-Vs for a Department of the US Government. This milestone enables immediate revenue recognition. This demonstration was conducted with a department of the US government, although specific details were not disclosed due to security reasons. Stratmann emphasised the importance of such practical demonstrations to validate the company's claims and capabilities to both current and potential future customers. Significant planning and operational coordination were involved, including collaboration with subcontractors and the execution of field operations to meet customer requirements. This milestone builds on other recent multi-system deliveries and contract awards. This completion, the company says, is a testament to the utility of its unmanned surface vehicles and the skills of our operators. OPT is now looking forward to future operations and generating incremental value for our customers and shareholders. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

May 28, 2024 01:55 PM Eastern Daylight Time

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DB Schenker Americas Earns IATA Lithium Battery Transport Certification

DB Schenker

DB Schenker, a global leader in logistics and supply chain solutions, is proud to announce the successful acquisition of the Center of Excellence for Independent Validators (CEIV) Lithium Batteries Certification for its United States airfreight operations from the International Air Transport Association (IATA). This significant achievement underscores DB Schenker's commitment to setting the standard for safely and efficiently handling lithium battery shipments, a critical component in today’s technology-driven market. John McDonald, EVP of Americas for Airfreight, DB Schenker, said, “The CEIV Lithium Batteries program, crafted by IATA, is an industry-recognized certification that represents a company's ability to meet the stringent guidelines and standards for the logistics of lithium batteries. The certification confirms DB Schenker's proficiency in the safe transport of these items, which are essential for powering a vast array of devices and systems essential to modern life and commerce.” DB Schenker embarked on a rigorous certification journey marked by a series of in-depth training sessions, self-assessments, and meticulous documentation reviews. Barbara England, Sr. Director of Operations for Airfreight, DB Schenker, said, “The process began with comprehensive training, where Air Export Operations personnel and Air Product Management teams completed the IATA Lithium Battery Logistics Safety Management Certification Program. Following this, DB Schenker conducted a thorough self-assessment to ensure alignment with IATA’s exacting standards.” Brendan Sullivan, IATA’s Global Head of Cargo, said, "Congratulations to DB Schenker for achieving CEIV Lithium Batteries Certification for their operations in the United States. This accomplishment underscores the company's unwavering commitment to excellence in logistics within the rapidly growing sector. DB Schenker’s dedication to the safe handling of shipments is something their customers will undoubtedly value. Furthermore, the industry stands to benefit from the quality benchmark that they are helping to establish.” The assessment phase took place at DB Schenker's facility in Franklin Park, IL, where an IATA assessor meticulously evaluated the company's operations, processes, and adherence to the CEIV Lithium Batteries audit checklist. This checklist, featuring over 200-line items, required DB Schenker to demonstrate the highest level of precision and commitment to safety standards. Upon completion of the assessment, the findings underwent a rigorous validation process by IATA, culminating in the certification being awarded on January 29, 2024, with the notable distinction of zero non-conformities – a testament to DB Schenker's diligent preparation and dedication to excellence. The implications of receiving the CEIV Lithium Batteries certification are far-reaching for DB Schenker. This certification is not only a validation of DB Schenker’s unwavering dedication to safety and quality but also positions the company to meet the surging demand for the transportation of lithium battery products. Clients and partners can now have even greater confidence in DB Schenker’s capabilities to handle their shipments with the utmost care and expertise. Looking to the future, DB Schenker views this certification as a cornerstone of its ongoing strategy to expand its specialty in transporting dangerous goods. The company is already planning to extend the CEIV Lithium certification to additional global sites and is confident in pursuing further certifications for other dangerous goods, irrespective of the mode of transport. This certification aligns with DB Schenker's strategic vision to lead the logistics industry in safety, efficiency, and reliability. With the growing reliance on lithium batteries across multiple sectors, DB Schenker is well-prepared to support its customers with the highest level of service. The CEIV Lithium Batteries certification is valid for two years, during which DB Schenker will engage in continuous improvement and compliance to maintain this status. Refresher training for key personnel will be conducted, and new assessments will ensure ongoing adherence to the rigorous standards set forth by IATA. ### About DB Schenker Americas DB Schenker is one of the largest Integrated Logistics Service Providers in the Americas, with more than 10,000 employees in 123 locations providing over 27 million sq. ft. of distribution operations to its clients. DB Schenker's Americas presence includes Argentina, Brazil, Canada, Chile, Guatemala, Mexico, Panama, Peru, United States, and Venezuela. DB Schenker offers land transport and air and ocean freight, as well as comprehensive logistics solutions and global supply chain management services from a single source. With integrated partners across the Americas, DB Schenker provides the best combination of intimate local practices, knowledge, and global capabilities. About DB Schenker With around 72,700 employees at more than 1,850 locations in over 130 countries, DB Schenker is one of the world's leading logistics service providers. The company operates land, air, and ocean transportation services, and it also offers comprehensive logistics and global supply chain management solutions from a single source. Aiming for a sustainable future of the logistics industry, DB Schenker continuously invests in innovative transport solutions, renewable energies, and low-emission products for its customers. Contact Details Nicholas Leighton +1 949-478-5880 nick.leighton@nettresultsLLC.com Company Website https://www.dbschenker.com

May 23, 2024 09:00 AM Eastern Daylight Time

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Announcing Nilu27: a Hypercar Brand from Celebrated Designer Sasha Selipanov

Nilu

Nilu27 is the company founded by Sasha and Inna Selipanov to introduce an extraordinary vehicle lineup over the next ten years. And it begins this summer with the public debut of their first vehicle: the breathtaking V12-powered NILU hypercar, which will be revealed to the public at Pebble Beach during Monterey Car Week in August. The new company – named from a combination of the founders’ daughters’ names, Nica and Lucia – brings an unrivalled depth of automotive knowledge and expertise. Sasha’s sports car legacy includes landmarks that began with the Lamborghini Huracán before moving on to the Bugatti Chiron and Bugatti Vision Gran Turismo. Sasha was also responsible for the design of the Koenigsegg Gemera and Koenigsegg CC850, among the many vehicles stemming from his two-decade career in the automotive industry. Nilu27 was co-founded by Inna Selipanov, who brings a wealth of marketing and business development experience to the venture. Aside from being married for more than 20 years, Inna and Sasha enjoyed dynamic collaborations during their respective stints at Genesis and Koenigsegg. Combining their complementary skill sets in this new endeavor puts them on a unique path to disrupt the industry. CRAZY ENDEAVOR Sasha felt sports car development had veered off course in an effort to check way too many boxes. The automotive industry’s fascination with technology has led to a plethora of technologically advanced, yet emotionally sterile products. Sasha’s vision is to explore the DNA of what defines a sports car, focusing on an emotional engagement with each of our senses. The vision is unique in both his approach to the product and brand itself, resulting in vehicles that promise to be beautiful and brutal in equal measure. The NILU hypercar will create an authentic analog driving experience, deploying a naturally aspirated engine designed to set the driver’s senses tingling. “ One of my most vivid childhood memories was seeing an old magazine clipping of Gilles Villeneuve in his #27 F1 car power sliding out of a corner. I instantly fell in love with the image of that visceral, beautiful beast,” Sasha recalled. “This passion took me on a rollercoaster ride through my career, culminating in Nilu27. Now, my team and I are finally able to explore the quintessential automotive themes of beauty and brutality without the limitations commonly imposed by the industry or preconceived commitments to technology. We cannot wait to present our first car this summer! ” PEBBLE BEACH DEBUT After living in Sasha’s mind and sketchbook since 2007, his vision has taken a physical form and will be revealed first to a number of industry insiders in Los Angeles in early August. It will then be seen by the public and media for the first time on the ramp at Pebble Beach Golf Course on August 15 during Monterey Car Week. Following its debut, the NILU hypercar will appear at a number of events and functions during the week, culminating in its appearance on the Concept Lawn at the Pebble Beach Concours d’Elegance on August 17-18. For more information, please visit www.nilu27.com EDITOR’S NOTE A high-resolution image of the NILU hypercar can be accessed here, along with animated video assets: dropbox.com/scl/fo/xs0d07ogk4mql24ohf934/ANMDxpHteiH-sMbk0rhmfzo?rlkey=46ac9r5qafnea7leve9f7a7of&dl=0 Any media wishing to interview Sasha Selipanov or the founding team should please contact greg@theidagency.com ABOUT Nilu27 Founded in 2024 by Sasha and Inna Selipanov, Nilu27 is on a mission to produce quintessential sports cars. With a primary focus on beauty and brutal performance, the company’s purpose is to celebrate all elements of the car that engage the senses. This sometimes means divorcing from technology. We build cars for car people. For more information, please visit www.nilu27.com Contact Details Greg Emmerson, The ID Agency greg@theidagency.com Company Website https://www.nilu27.com/

May 21, 2024 06:05 AM Pacific Daylight Time

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Cepton, Inc. Secures Engineering Services Agreement with Automotive Giant Koito Manufacturing

Cepton, Inc.

Cepton, Inc. Chief Commercial Officer Mitch Hourtienne joined Steve Darling from Proactive to reveal a significant milestone as the company finalized an Engineering Services Agreement with KOITO MANUFACTURING, a renowned automotive Tier 1 partner and existing shareholder. With a legacy dating back to 1915, KOITO is a global leader in automotive lighting, boasting a network of 30 companies across 13 countries. Under the agreement, KOITO will extend $10 million in engineering services to Cepton to bolster the product development and execution of a major global OEM program. This collaboration will primarily focus on advancing Cepton's near-range lidar technology, essential for Level 4 autonomous driving capabilities in various on-road and off-road scenarios. The partnership underscores Cepton's commitment to delivering cutting-edge solutions in the autonomous driving space, leveraging KOITO's expertise and resources to accelerate product development and meet the evolving needs of OEM customers worldwide. Contact Details Proactive United States +1 347-449-0879 action@proactiveinvestors.com

May 14, 2024 02:41 PM Eastern Daylight Time

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