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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.
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 autoparts supplier, which competes with Advance AutoParts and O’Reilly Automotive , rose 3.5%
“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.
It now expects to report organic revenue growth for parts and services between 2.5% Autoparts 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%
New Delhi: Hyundai Mobis , South Korea’s leading autoparts 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.
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.
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.
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.
The Indian automobile sector was able to source almost 50% of required autoparts from domestic markets under the INR 26,000 crore Production-Linked Incentive (PLI) scheme, said Union minister for heavy industries Mahendra Nath Pandey on Tuesday. India has emerged as the automotive powerhouse and the world is looking at us.
The company ensures quality and service commitment through its extensive network of 2500+ touchpoints, manned by trained specialists and backed by easy access to Tata Genuine Parts. New Delhi: Tata Motors , India’s largest commercial vehicle manufacturer, Friday inaugurated a new commercial vehicle spare parts warehouse in Guwahati.
India’s mid-sized IT services player L&T Technology Services ( LTTS ) has signed an approximately €45 million (around USD 48 million at current exchange rate) contract with European automotive parts manufacturer and supplier Forvia for engineering development activities for its clean mobility division. “As
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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.
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.
The second big focus for us is to make sure that talent for all parts of the ecosystem gets developed. And it that, it is very important to upgrade the course curriculums, to make sure that we are connected with the companies that are working in the space,” Vaishnaw said.
Super Screws Pvt Ltd memorandum of understanding (MoU) with Mitsuchi Corporation New Delhi: Super Screws Pvt Ltd has announced a memorandum of understanding (MoU) with Mitsuchi Corporation of Japan to establish a joint venture aimed at manufacturing and selling special cold forged parts in India.
The report found Bourns Inc, a California-based auto supplier, had sourced components from JWD, which was added to the UFLPA Entity List in December. Wyden also wants any actions taken by BMW “to address any cars or spare parts containing JWD parts improperly imported by BMW” after December 2023. imported vehicles.
Download ETAuto App Get Realtime updates Save your favourite articles Scan to download App The post Hyundai, Kia, Tesla, Volkswagen to recall over 456,000 vehicles for faulty parts – ET Auto appeared first on Bauaelectric Auto News.
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MG Motors, a unit of Chinese automaker SAIC, will open a second European parts centre by the summer of 2024 in France to meet the country’s growing demand for its vehicles, a spokesperson told Reuters on Thursday. The new European site will be operated by a partner near Lens, in Hauts-de-France, near the Belgian border.
Auto engineers at multiple makers are now dissecting the Tesla documents, figuring out how it functions, and negotiating what information they must provide to the Tesla charging station to validate a session. It’s too early to offer a definitive answer to that question.
Indian auto industry is set to invest up to USD 7 billion, or about INR 58,000 crore, by FY28 to deepen localisation of advanced components from electric motors to automatic transmissions to reduce imports and capitalise on multinationals’ ‘ China Plus One ’ sourcing strategy. To be sure, China dominates autoparts supplies to India.
Electric vehicle (EV) maker Rivian debuted a new software update this week, and as part of it, the company has started rolling out a hands-off driving assistance system. Owners can purchase the upgrade from the Rivian mobile app or account page, and it will be downloaded to the vehicle through an over-the-air (OTA) software update.
Download ETAuto App Get Realtime updates Save your favourite articles Scan to download App The post South Korea’s SK Innovation agrees merger with SK E&S as part of overhaul – ET Auto appeared first on Bauaelectric Auto News.
JSW Energy Ltd is one of the leading private sector power producers in India and part of the USD 23 billion JSW Group. Overall, at COP26 held in 2021, India as a whole committed to an ambitious five-part “Panchamrit” pledge. JSW Energy has a total generation capacity of 13.3 GW comprising of 7.3 GW operational, 2.6
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.
Download ETAuto App Get Realtime updates Save your favourite articles Scan to download App The post Sona Comstar opens plant in Mexico to meet N. American demand for BEV parts – ET Auto appeared first on Bauaelectric Auto News.
This new state-of-the-art facility will help us to address the demand for steering and suspension components in the North American region and position us to capitalise on the emerging trend of localization of parts by the customers in this region driven by USMCA (United States-Mexico-Canada Agreement).
Thus, their meritocratic selection, and commercial scalability for diverse use-case scenarios like investment deferrals, price arbitrage and ancillary services entails significant due-diligence and risk taking on the part of the project developers. This process is typically characterized by commitment of large capital.
Download ETAuto App Get Realtime updates Save your favourite articles Scan to download App The post Sona Comstar adopts 3-pronged strategy to beat China globally in EV parts supply – ET Auto appeared first on Bauaelectric Auto News.
subsidiary after discovering it forced subcontractors to store autoparts molds without paying the costs, local media reported on Sunday. Japan’s antitrust watchdog plans to issue a warning to a Toyota Motor Corp. Toyota Customising & Development Co. The subsidiary, in which Toyota holds a 90.5%
New Delhi: The Automotive Component Manufacturers Association of India (ACMA), the apex body representing India’s Auto Component manufacturing industry, successfully concluded the 4 th edition of its ‘Transforming Mobility 2024 -Global Summit & Expo’. billion to 4 billion in manufacturing and R&D over the past five years.
Ola Mobility said that Gupta’s exit is part of the company’s restructuring exercise. “As part of an ongoing restructuring, Ola Mobility CFO Kartik Gupta has stepped down from the company. Gupta joined the company seven months ago.
Gupta highlighted that Auto LPG, described as a ‘Net Zero Hero,’ generates 20% less CO2 than petrol and 60% less than diesel. Suyash Gupta , Director General of IAC, has reached out to the executives of these companies, emphasizing the significant advantages of Auto LPG. million tonnes.”
The agreement is likely to help Mazda step up production of EVs as part of a 1.5 The agreement is likely to help Mazda step up production of EVs as part of a 1.5 trillion-yen (USD 9.9 billion) spending plan it unveiled in late 2022. trillion-yen (USD 9.9 billion) spending plan it unveiled in late 2022.
Autoparts supplier BorgWarner raised its full-year adjusted profit outlook on Thursday, aided by sustained demand from its exhausts, turbos and emission control systems. BorgWarner now expects its full-year adjusted profit per share to be between USD 3.80 and USD 4.15, compared with its prior outlook of USD 3.65 to USD 4.00.
The standard (T/CSAE 53-2107) was developed by a working group led by General Motors, together with Tsinghua University and Chang’an Auto, with the support of the China Industry Innovation Alliance for the Intelligent and Connected Vehicles. The data interaction standard and interface are defined by the standard as well.
Forvia, which supplies parts to Stellantis, Volkswagen and Ford, and is also active in China, is affected by falling auto demand and competition from Chinese manufacturers. Organic revenue growth in North America was 6.8%, mainly driven by higher sales in the seating business, while auto production increased by 1.4%.
billion rupees a year earlier for the company, which makes autoparts and accessories for cars, two wheelers and railways among others. India’s total vehicle production during the January-March period rose over 21%, which in turn also helped expand the autoparts demand. Net profit rose to 5.65
The new service is part of the new alliance between the South Korean and U.S. Samsung has launched an energy management service for Tesla electric vehicles in the United States as part of their strategic partnership aimed at enhancing connectivity at home, industry sources said on Wednesday.
As part of the deal, ADMETOS is taking on around 600 employees in six countries. In the spare parts and accessories market, the sale of thermostats under the MAHLE and Behr brands will continue to be handled by the worldwide MAHLE Aftermarket network.
The partnership, proposed by WaiveCar as part of Hyundai’s Project IONIQ open call, gives consumers the ability to drive IONIQ EVs on-demand for two hours at no charge. Customers can simply download WaiveCar's app for iPhone or Android, find an IONIQ near them, book it and start driving—no cards or keys necessary.
auto safety regulator said on Monday it has opened a recall query into an estimated 51,500 Volkswagen America’s EVs over concerns of the vehicle door opening while driving. According to the safety regulator, the affected vehicles were also a part of the automaker’s prior recall to remedy water seepage from the door.
Self-driving technology company Motional said on Tuesday it would focus on developing its core technology and delay commercial robotaxi deployments, while it lays off staff as part of its restructuring process. The development comes ahead of electric carmaker Tesla’s unveiling of its robotaxi, dubbed “ Cybercab “, on Aug.
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