Facedrive Provides Update on Facedrive Foods’ Revenue and Expenses
TORONTO–(BUSINESS WIRE)–#FacedriveScarborough–Facedrive Inc. (“Facedrive” or the “Company”) (TSXV:FD), (OTC:FDVRF), a Canadian “people-and-planet first” tech ecosystem announces that, as part of a comprehensive review of its revenue recognition policies with outside consultants, the Company will be reclassing certain of Facedrive Foods’ related Sales & Marketing expenses so as to offset the expenses directly against Facedrive Foods’ […]
Cepton Technologies and Growth Capital Acquisition Corp. Announce Closing of Business Combination
SAN JOSE, Calif.–(BUSINESS WIRE)–#ADAS–Cepton Technologies, Inc. (“Cepton”), a Silicon Valley innovator and leader in high-performance MMT® lidar solutions and Growth Capital Acquisition Corp. (“GCAC”) (Nasdaq: GCAC), announced today the completion of their previously announced business combination. The combined company has been renamed Cepton, Inc. and its common stock and warrants are expected to commence trading […]
Auto Investment: Subaru Crosstrek, WRX win J.D. Power 2022 Canada ALG Residual Value Awards
Toronto, Ontario — For putting the phrase “as good as new” into real practice, the J.D. Power 2022 Canada ALG Residual Value Awards have recognized the Subaru Crosstrek and WRX for being at the top of their respective segments in regards to residual value. The award is aimed at recognizing vehicles that retain their value […]
Mega Headaches: Volvo eyes Tesla-style megacasts for next-gen vehicles
Stockholm, Sweden — Volvo cars hopes its future use of aluminum megacastings for automotive body parts will boost the automaker’s ability to reach sustainability targets. Over the next few years, the Swedish automaker is investing 10 billion crowns ($1.1 billion) to its Torslanda plant—the automaker’s largest and oldest facility—to prepare the site for the production […]
OEM NEWS
SCAR PARTS In early December, Toyota issued a call for all-hands-on-deck to fight against the ongoing automotive materials shortage, announcing the OEM will permit the use of scratched, blemished, and otherwise “imperfect” parts from suppliers while global supply chains level out. “We are careful about the outside of our vehicles, the parts you can easily […]
Aging Autos: Used car sales up five percent last year
Toronto, Ontario — Used car sales increased five percent last year amid semiconductor shortages that hampered the new car market and drove buyers to used car lots, according to DesRosiers Automotive Consultants. A survey by the Used Car Dealers Association found that an average of 250 used vehicles per franchised and independent dealer were sold […]
INSURANCE NEWS
While Wyllie and Kennedy both anticipate further claims to surface, ICBC maintains that it is “too early” to estimate total claims and costs. THE LITERAL FLOODGATES “According to the Insurance Bureau of British Columbia (ICBC), the insurer has received more than 1,700 vehicle claims linked to extreme weather events during December. The damage is reportedly […]
TECHNOLOGY NEWS
No more gaming on the go, says Tesla. The company will soon drop an over-the-air update to restrict the Passenger Play feature while the vehicle is in motion. GAME OVER No more gaming on the go for Tesla drivers as the National Highway Traffic Safety Administration (NHTSA) reported the EV automaker has disabled the ability […]
BUSINESS NEWS
GO FOR GLASS Driven Brands announced the expansion of its auto glass offering into the United States with its acquisition of Auto Glass Now (AGN). The company acquired AGN for approximately US$170 million on December 30, 2021. The acquisition makes Driven Brands one of largest auto glass service providers in North America, said the company […]
RECYCLING NEWS
ARPAC CEO Simon Matte has shared four comments with Environment Canada on electrification in the automotive industry and its implications for auto recyclers. MATTE’S MANDATE When it comes to electric vehicle batteries, Quebec’s Association of Auto Parts Recyclers (ARPAC) share a question in common with much of the general Canadian public: “What end of life […]
