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Verizon buys Telogis in connected vehicle market push

(Note/disclaimer: We are owned by Verizon, by way of AOL. This gives us no inside track whatsoever when it comes to news.) With a lot of tech companies and automakers staking their claims in the connected car space, now there are signs that others are looking to move in, too. Today, telecoms giant Verizon announced that it is acquiring Telogis, a California-based company that develops cloud-based solutions for mobile workforces, and specifically telematics, compliance and navigation software used by Ford, Volvo, GM and other car companies, as well as Apple and AT&T. Financial terms of the deal have not been disclosed, although we'll try to find out. Considering that Verizon in 2015 reported full-year revenues of $131.6 billion, the price would have to be very high to be considered "material" and may not be made public for some time, if ever. Telogis in its time as a startup raised a substantial amount of money, just over $126 million in all, including $93 million in 2013, supposedly ahead of an IPO, all from Kleiner Perkins Caufield & Byers. Back in 2013 when KPCB made its investment (which was the first from a VC firm in the company), Telogis told TechCrunch it was profitable and forecasting revenues of $100 million annually for the year. It's not clear what size those revenues are now, but if it was on the same growth trajectory as before the funding, sales would be around $150 million annually, with profitability, at the moment. Other investors include some very notable strategics: the investment arm of General Motors, and Fontinalis Partners, which also invests in Lyft and was co-founded by Bill Ford, the executive chairman of the Ford Motor Company. Before the acquisition, Verizon actually had a business in fleet management and telematics; in fact, the two companies competed against each other for business from the trucking and other industries. Verizon Telematics, as the business is called, is active in 40 countries. But in a way, Verizon buying Telogis is a sign that the latter may have proved to be the more superior, and the one with the key customer deals.

Ford adds third shift at F-150 plant to keep up with demand

The signs have been very positive for Ford's F-Series line of pickup trucks as of late, and after 24 consecutive months of increasing sales of the best-selling F-150, the automaker has added a third production crew at its Kansas City Assembly Plant that includes 900 new hourly workers to meet demand for the truck. This the first step in Ford's plan to add 2,000 hourly jobs at the plant to help meet demand for its trucks and to begin production of the new Transit van, the automaker says.
Despite some tough new competition, sales of the F-Series are the strongest they've been since 2006, according to Ford. The automaker sold 60,449 F-Series in July, the best sales figure for the mid-summer month since 2006, which also represents a 23 percent increase compared to July 2012. From January to July 2013, sales were up 22 percent compared to the same period last year.
Ford has committed to creating 12,000 hourly jobs by 2015, and with the 900 new employees added to the assembly plant in Missouri, the company says it has completed 75 percent of its goal. Ford has also invested $1.1 billion to retool and expand the Kansas City Assembly Plant to ready it for Transit production. Take a look at the press release below for more job and F-Series sales information.

Recharge Wrap-up: Tesla considers Model III SUV and wagon, Ford tears Tesla apart

Worries over Brazil's electric grid mean EVs are excluded from green car incentives. As part of a new efficiency program, non-plug-in hybrids will be eligible for a reduction in import duties, while EVs and plug-in hybrids will not. Brazil's government is concerned that the country's grid lacks the capacity to handle the increased load from an influx of EVs. Brazil plans to create a new incentive program - perhaps a more inclusive one - when the current one expires at the end of 2015. Read more at Green Car Reports. Tesla could make SUV and wagon derivatives of the upcoming Model III sedan. Tesla's VP of engineering, Chris Porritt, told Auto Express that to reach as many customers as possible, Tesla would consider all its options. "SUVs, estates - who knows?" says Porritt. He also says that while the company is currently focused on products with a broader appeal, another Roadster or other sports car aren't out of the question in the future. Read more at Auto Express. Ford admits to a Tesla Model S teardown. Ford CEO Mark Fields says that after disassembling, reassembling and driving the model S, his company is "very familiar with that product." He also says the Ford has the capability to build a similarly high-tech, long-range electric car. The questions still remains if Ford has plans for such a vehicle, but Fields says that it fits within Ford's "product philosophy." Read more at Business Insider and at USA Today.