EV Manufacturer BYD Selects Karamba Security to Meet Global Automotive Cybersecurity Regulations

PRESS RELEASE

DETROIT and HOD HASHARON, Israel, June 04, 2024 (GLOBE NEWSWIRE) -- As the 11th annual Escar USA automotive cybersecurity conference opens, Karamba Security, the leader in end-to-end product security, today announced that BYD, one of the world’s largest EV manufacturers with annual revenues exceeding $13.8 billion USD, has selected Karamba’s VCode software to automatically create a Software Bill of Materials (SBOM) for the electronic control units (ECUs) it uses, secure its supply-chain and meet cybersecurity regulation UN R155.

BYD joins other leading U.S., European and Chinese vehicle OEMs that use VCode to create SBOM, manage supply-chain security and assure that firmware used does not include critical vulnerabilities that may put customers at risk. As with all of its customers, Karamba Security’s VCode will also enable BYD to accelerate its compliance with global automotive cybersecurity regulations, now mandatory in many of the world’s largest markets.

In March of this year, BYD became the world's first automaker to produce its seven millionth new energy vehicle, including EVs and PHEVs. Present in 64 countries and regions globally, BYD shipped 1.6 million EVs in 2023, approaching Tesla's position as the industry leader with 1.8 million for the year. In fact, BYD shipped more EVs than Tesla in Q4 last year.1

Karamba is a leader in end-to-end product cybersecurity, including automotive electronic control units (ECUs) and other IoT and edge products. With the increased safety and privacy risks that may be caused due to hacking vehicles and IoT products, regulators are now mandating OEMs and suppliers to secure their devices. Such cyber regulations may delay products’ time to market and have a significant toll on device manufacturers’ businesses. Karamba's software solutions enable OEMS and suppliers to secure their devices and meet global cybersecurity regulations without interfering with R&D, or delay products' time to market.

“Karamba Security is proud to help successfully bridge U.S., European, Chinese and other nations’ OEMs with their global markets by ensuring they meet rigid cybersecurity regulations and protect their customers,” said Ami Dotan, co-founder and CEO of Karamba Security. “Karamba, regulators and automotive manufacturers are united in our commitment to secure vehicles and global supply chains against hackers, who are blind to nationality and are willing to put customer safety and privacy at risk for financial or terrorist reasons.”

About VCode binary analysis software

Used during software validation, VCode helps automotive OEMs and IoT device manufacturers to automatically create SBOM of their devices, and automatically identify supply-chain cybersecurity issues and address them before production. It identifies, prioritizes and mitigates security gaps in the software image, specifically third-party modules, and serves as a product security scorecard both internally, for customers and auditors.

VCode binary analysis software works seamlessly with Continuous Integration/Continuous Design (CI/CD) pipelines or runs stand-alone on customer premises. It identifies vulnerabilities, as well as CVEs, covering a wide range of security misconfigurations and coding errors including weak passwords, risky tools, suspicious data, unsecure binaries and more.

As part of VCode SBOM, the tool provides details on the filesystems and on each component in the image, including third-party software. It provides essential context information including location, CVE count, highest severity for CVEs, dependencies and, where available, library version number and associated license type. An easy-to-use filtering mechanism allows for studying the data and identifying actionable insights.

More information is available at www.karambasecurity.com and follow on Twitter @KarambaSecurity.

About Karamba Security
Karamba Security is the world leader in End-to-End security for IoT products. IoT product manufacturers in automotive, medical devices, renewable energy and enterprise edge rely on Karamba’s products and services to seamlessly protect their connected devices against cyberattacks and comply with industry regulations. With more than 120 successful engagements with Fortune 100, and Global 500 companies, automotive and IoT product manufacturers trust Karamba’s award-winning solutions for compliance and brand competitiveness when protecting their customers against cyber threats.

More information is available at www.karambasecurity.com and follow us on LinkedIn at www.linkedin.com/company/karamba-security.