NHTSA probes Amazon’s self-driving Zoox vehicles | Holoride files for bankruptcy | CF Booth fined over worker injury

In today’s Portfolio Intelligence Daily:?

• NHTSA probes Amazon’s self-driving Zoox vehicles
• Holoride files for bankruptcy?
• CF Booth fined over worker injury

Our analyst team curates these summaries from Auquan’s Intelligence Engine, which uses generative AI and retrieval augmented generation (RAG) to uncover material non-financial insights at scale to support deal sourcing, due diligence, risk monitoring, and compliance.

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NHTSA probes self-driving Zoox vehicles

Amazon-owned Zoox's self-driving vehicles are under NHTSA investigation after two rear-end collisions injuring motorcyclists.?

• The incidents involved Toyota Highlanders with Zoox's Automated Driving System.?

• Despite the incidents occurring during daylight and within the operational parameters of the Zoox system, questions have been raised regarding the system's performance and response in rear-end collision scenarios.
• This investigation follows a previous probe initiated by NHTSA into Zoox's self-certification process for a robotaxi lacking traditional driving controls, with focus on determining the basis of Zoox's certification and compliance with safety standards.

Select timeline

• May 13, 2024 | US agency probes Amazon-owned Zoox robotaxis after two crashes (Reuters)
• November 10, 2023 | Unions urge US regulators to probe Waymo, Zoox after GM's Cruise driverless crashes (Reuters)
• March 7, 2023 | U.S. opens probe into Amazon's Zoox robotaxi self-certification (Reuters)

Holoride files for bankruptcy?

Holoride, a German startup co-founded by Audi specializing in in-car VR entertainment, has filed for bankruptcy due to a failed funding round.

• Their initial product, launched in 2022, synchronized VR content with the car's movements using an HTC Vive Flow headset and game controller.
• Investment from Terranet in 2021 aimed to explore synergies with Holoride's technology, but existing investors chose not to provide further capital.
• CEO Nils Wollny announced the unexpected news on LinkedIn, citing the collapse of a seemingly secure investment.
• Despite setbacks, Holoride's management sees the insolvency process as a chance for a reset, hoping to attract new investment to continue their vision of revolutionizing in-car entertainment.

Select timeline

• May 13, 2024 | Startup aimed at VR entertainment in cars files for insolvency (Phone Arena)
• May 13, 2024 | Audi Co-founded VR Entertainment Startup Holoride Files for Bankruptcy (Road To VR)
• May 10, 2024 | In-Car VR Company Holoride Files for Bankruptcy (Display Daily)

CF Booth fined over worker injury

UK metals recycling company CF Booth was fined ￡1.2M by HSE after a worker struck by a skip loader truck due to lack of safety measures.?

• The incident, which took place on August 10, 2020, resulted in significant injuries to the employee, including a fractured skull and collar bone. However, it is fortunate to note that the worker has since made a full recovery.
• According to HSE's findings, CF Booth had failed to conduct a suitable and sufficient workplace transport risk assessment, which would have identified and addressed the risks associated with vehicle and pedestrian interactions.
• HSE emphasized that the incident could have been prevented had CF Booth implemented appropriate control measures, such as physical barriers and designated crossing points, to mitigate the risks posed by vehicle movements.
• CF Booth pleaded guilty to breaching Section 2 of the Health and Safety at Work etc. Act 1974 during the trial at Sheffield Magistrates' Court. In addition to the hefty fine of ￡1.2 million, the company was also ordered to cover costs totaling ￡5,694.85.

Select timeline

• May 13, 2024 | Metals recycler fined US$1.5 million (D&Ri)
• May 2, 2024 | ￡1.2m fine for CF Booth after worker hit by wagon (Rotherham Advertiser)
• May 2, 2024 | CF Booth: Rotherham firm fined ￡1.2m after worker hit by skip wagon (Yahoo)

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