Canada

On May 7, LeddarTech Holdings Inc. and Immervision Inc. announced a collaboration to streamline the perception model training process to make it faster, more cost-effective, and less data-intensive. This joint effort combines LeddarTech’s expertise in AI-based low-level sensor fusion and perception software technology and Immervision’s leadership in advanced vision systems.

The goal of perception technology in ADAS is to provide accurate and timely information to the vehicle’s control system. LeddarTech and Immervision’s collaboration aims to improve and significantly optimize this process by allowing large-scale data re-usability. The breakthrough achieved by their research teams allows the re-use of data across various ADAS and AD platforms, with zero simulation-to-reality gap. This means that existing data assets can now be leveraged for new platforms. The companies intend to demonstrate this technology in Q3 of 2024.

Based on LeddarTech Holdings Inc. press release 

On May 8, the Lion Electric Company announced its financial and operating results for the first quarter of fiscal year 2024, which ended on March 31, 2024. 

Lion Electric in Q1 had:

•    Revenue of USD 55.5 million, up USD 0.8 million, as compared to USD 54.7 million in Q1 2023
•    Delivery of 196 vehicles, a decrease of 24 vehicles, as compared to the 220 delivered in Q1 2023
•    Net loss of USD 21.7 million, as compared to net loss of USD 15.6 million in Q1 2023 reflecting higher manufacturing costs due to the introduction of new products
•    Adjusted EBITDA of USD (17.3) million, as compared to USD (14.5) million in Q1 2023

As of May 7, 2024, the vehicle order book consists of 2,004 all-electric medium- and heavy-duty urban vehicles, comprising 211 trucks and 1,793 buses, and representing a combined total order value of approximately USD 475 million.

LionEnergy’s order book of 350 charging stations and related services as of May 7, 2024, represents a combined total order value of approximately USD 8 million.

Initial deliveries to customers of Lion5 trucks (delivered with medium duty Lion battery packs) and of LionD buses began during the first quarter of 2024.

(Lion Electric Co. release on May 8, 2024)

On May 2, Potential Motors Inc., a Canadian automotive technology company developing advanced driver assistance systems for off-road environments, announced that it has raised CAD 2 million in a successful seed round that builds on two previous seed rounds, for a total of CAD 8.5 million raised since May 2020.

Funds will support new and ongoing innovation projects with automotive OEMs to solve safety and performance problems both off and on road.

Potential's core software platforms Terrain Intelligence and Off-Road OS, which use forward-facing cameras and AI to interpret upcoming terrain conditions, features and hazards, are equipping vehicles to become proactive instead of reactive.

The latest funding will be used to drive commercialization of Potential's AI-powered perception solutions in automotive, mining and defense sectors, following years of intensive R&D. 

Potential has already partnered with a major manufacturer of recreational off-road vehicles (CFMOTO Powersports) and delivered its first innovation project for a global automotive brand. 

The company has another pilot project in the automotive sector underway in Q2, with further projects at scoping stage. 

(Potential Motors release on May 2, 2024) (Potential Motors website)