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Tata Technologies to invest USD 1.8 bn in Telangana state – ET Auto

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Tata Technologies, which provides engineering services to auto, aero and heavy machinery makers, will set up skilling centres in 50 government-run industry training organisations. The latest investment is part of a larger commitment from Tata Group companies, such as Tata Consultancy Services and Tata Advanced Systems, to expand in the state.

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AutoZone’s quarterly profit beats estimates on demand for car parts – ET Auto

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AutoZone beat estimates for third-quarter profit on Tuesday, driven by strong demand for automotive parts as more Americans held on to their ageing cars amid higher prices and wait times for newer models. Quarterly net sales at the auto parts supplier, which competes with Advance Auto Parts and O’Reilly Automotive , rose 3.5%

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Germany’s Vay launches remote-driven car service in Las Vegas – ET Auto

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“We see a decade or two of human-machine interaction where autonomous driving will play a part once it’s available and ready to deploy, and then the other part will always be done by a teledriver,” he said. ” Vay’s launch comes at a challenging time for autonomous vehicle developers.

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Auto parts seller LKQ cuts 2024 sales forecast as warm weather slows demand – ET Auto

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It now expects to report organic revenue growth for parts and services between 2.5% Auto parts distributor LKQ cut its full-year sales forecast on Tuesday and missed estimates for first-quarter profit amid falling metal prices and softening demand for spares in North America. for 2024, down from its prior guidance of 3.5%

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

Baua Electric

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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European battery maker ACC partners with Circulor to map supply chain, carbon emissions – ET Auto

Baua Electric

The partnership comes as the European auto industry readies for a “battery passport” that will trace the content and carbon footprint of EV cells sold in Europe. Circulor is also part of the battery passport project.

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Luminar to cut nearly 20% jobs as part of restructuring – ET Auto

Baua Electric

Luminar Technologies , a maker of lidar sensors for self-driving cars , said on Friday that it would cut its workforce by about 20%, as part of a restructuring plan for the current year. Luminar is also looking to sub-lease some of its facilities in portions or fully, reducing global footprint as part of the restructuring.

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