Denso has announced it is part of a $16 million investment in Peloton Technology, which is developing vehicle platooning systems for large trucks. The Denso investment follows a similar announcement in April that Volvo Group Venture Capital, a subsidiary of the Volvo Group, would invest in Peloton as part of the same group.
Denso, headquartered in Kariya, Aichi prefecture, Japan, is a global supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety.
Denso and Intel Capital co-led the investment, which is an oversubscribed Series A investment round, to help accelerate Peloton’s development and deployment of platooning technology.
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, Denso explained. 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,” said 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.”
Denso is making a renewed push into the North American heavy-duty market, recently announcing a research-and-development staff to be located in Southfield, MI, and San Diego. That staff will focus on more efficient diesel fuel systems. Other areas its interested in exploring include electric no-idle HVAC and communication systems to allow roadways and vehicles to interact with each other.