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Hindalco looks to take ‘direct’ route to rev up auto parts biz – ET Auto

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Hindalco Industries , the world’s largest aluminium rolling and recycling company, is looking at a bigger play in the auto component business by leveraging the growing electric vehicle (EV) industry, said people aware of the company’s plans. Hindalco didn’t respond to ET’s queries.

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Hyundai Mobis to expand investment in EV parts, automotive chips – ET Auto

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New Delhi: Hyundai Mobis , South Korea’s leading auto parts maker, has said it plans to boost its investment in electric vehicle (EV) parts and automotive chips this year. Such projects will make up around 70% of its total investment, rising sharply from the current 50%, he added.

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VCs chase auto parts makers to hitch a ride on EV journey – ET Auto

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Such firms have raised funds to expand operations as local demand for EV parts has shot up, opening up the space that has been traditionally dominated by large manufacturers like Sona Comstar and Sterling Gtake. Matel started off as a solar water pump manufacturer in 2016 before starting EV part manufacture in FY21.

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South Korea’s SK Innovation agrees merger with SK E&S as part of overhaul – ET Auto

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Lately, it has been struggling with a drop in electric vehicle battery shipments amid a global slowdown in electric vehicle sales. Battery maker SK On has never made a profit since it was split off from SK Innovation in late 2021. Its cumulative operating losses amount to about 2.3 trillion won (USD 1.7

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Car parts maker Valeo posts lower first-quarter sales on weak EV demand – ET Auto

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Car parts makers face slowing auto production, leaving suppliers with excess capacity, and are striving to reduce costs, including laying off workers, as Chinese EV makers expand in Europe. As a result, EV high-voltage activity almost halved in the quarter, the CEO said.

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CEO’s Take On 2024: Demand for feature-rich, safe, connected and electric vehicles to drive auto parts industry, says Bosch India chief – ET Auto

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Guruprasad Mudlapur, President- India, Bosch Group, and Managing Director, Bosch Limited Edited excerpts: Q: After two consecutive years of swift growth in the auto component industry’s performance, what is your outlook for 2024? Hybrids, EVs and Hydrogen vehicles will be the technologies for the future.

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Volkswagen to invest up to USD 5 bn in EV maker Rivian as part of tech joint venture – ET Auto

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electric-vehicle maker Rivian as part of a new, equally controlled joint venture to share EV architecture and software, the companies said on Tuesday. German automaker Volkswagen Group will invest up to USD 5 billion in U.S.

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