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Volvo Group said its venture capital arm has invested in Israeli automotive cybersecurity specialist Upstream Security. It also announced that it would form a dedicated new business arm for autonomous vehicles.
Volvo Group said its venture capital arm has invested in Israeli automotive cybersecurity specialist Upstream Security. It also announced that it would form a dedicated new business arm for autonomous vehicles. Volvo Group CEO Martin Lundstedt said the establishment of a dedicated business unit with a separate P&L responsibility was “a logical next step.”
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Faurecia has opened an office in Tel Aviv, where it hopes to accelerate its cyber security strategy.
More than two-thirds of all companies worldwide plan to spend at least 5% of their IT budgets on cyber security next year, according to a new poll. That’s up from 56% of companies polled a year ago.
Volvo Group signed an agreement with Nvidia to jointly develop technology for self-driving commercial vehicles.
A power outage at a Nissan data center in Denver, Colorado disrupted the communications network used by Nissan North America across the US, Mexico and Canadafor most of this week, impacting IT systems both for production and dealers.
Data from connected cars offer ample opportunity to develop new business models. But, to be successful, the auto industry needs to make sure the data sent from and received by tomorrow’s vehicles are safe and secure.
Until now, attacks on manufacturing IT systems tended to be hit or miss. Sometimes they succeeded, but mostly they did not. That won’t be the case for long. Many of these facilities are poorly equipped to fend off cyberattacks.
