SOUTHFIELD, Mich., May 27, 2015 /PRNewswire/ -- DENSO International America, Inc. has entered into an investment agreement with Peloton Technology, a developer of platooning systems that advance safety and fuel savings for large truck transportation fleets. DENSO and Intel Capital co-led the $16 million oversubscribed Series A investment round, which will help accelerate Peloton's development and deployment of platooning technology. The technology aims to increase fuel economy and improve safety for the global trucking industry. The deal was finalized late last month.
Platooning technology uses vehicle-to-vehicle and vehicle-to-infrastructure (V2X) wireless communication and radar to pair trucks to travel closely together and thus create an aerodynamic system that is similar to drafting in race cars. The direct communication system provides a way for trucks to 'talk' with each other and safely follow another truck with the same features to improve braking and acceleration time, increase safety and reduce fuel costs.
"DENSO is excited to build a strong relationship with Peloton," says Tony Cannestra, Director of Corporate Ventures for DENSO International America, Inc. "As a leader in vehicle-to-vehicle (V2V) technologies, we are eager to work closely with Peloton to implement the first large-scale deployment of a V2V system. DENSO believes that Peloton's system has the potential to help increase safety and fuel savings in the transportation industry."
For more than a decade, DENSO has been researching and developing V2X technology systems to allow cars to communicate with surrounding vehicles and traffic signals. The application of this technology to the trucking industry could potentially help large fleet vehicles reduce fuel consumption by 10 percent for the rear truck and 4.5 percent for the front truck (based on industry-standard SAE J1321 Type II fuel economy testing conducted by the North American Council for Freight Efficiency and trucking fleet C.R. England).
DENSO Corp., headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. Its customers include all the world's major carmakers. Worldwide, the company has more than 200 subsidiaries and affiliates in 38 countries and regions and employs more than 140,000 people. Consolidated global sales for the fiscal year ending March 31, 2015, totaled US$35.9 billion. Last fiscal year, DENSO spent 9.2 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.globaldenso.com, or visit our media website at www.densomediacenter.com.
About DENSO in North America:
Currently, in North America, DENSO employs more than 17,000 people at 33 consolidated companies and affiliates. Of these, 28 are manufacturing facilities located in the United States, Canada and Mexico. In the U.S. alone, DENSO employs more than 14,000 people in California, Alabama, Michigan, North Carolina, South Carolina, Tennessee, Kentucky, Georgia, Iowa, Ohio, Arkansas and Pennsylvania. DENSO's North American consolidated sales totaling $8.0 billion for the fiscal year ending March 31, 2015.
SOURCE DENSO International America, Inc.