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    The game of tariffs: US moves to stifle EV battery imports from mainland China
    The openness of international markets, amplified by the acceleration in globalization over the past few decades, is usurped by the creeping return of protectionism. Nothing illustrates this trend better than the ongoing tug of war over electric vehicles (EVs) and their related supply chains. Policymakers in the US and European Union are rattled by the ambitions of mainland Chinese companies to expand exports of low-cost EV and EV parts, forcing them to announce new policies and reconsider import...
    Tesla’s wild ride: From headlines to headscratchers and what it means for full self-driving
    “A riddle wrapped in a mystery inside an enigma,” Winston Churchill’s famous soundbite at the beginning of World War II has been applied to many a discourse or course of events since it was first uttered. Its ultimate use case, to use the current vernacular, could never be more apt than unpicking Tesla’s strategy and tactics or the actions and pronouncements of its CEO Elon Musk.  While Tesla still generates reams of press coverage, the tone has shifted, and it has slipped away f...
    DSPACE opens software development site in Trivandrum, India
    According to a press release on May 22, dSPACE officially opened its software development site in Trivandrum, India. With initially about 25 employees, dSPACE India Software and Technologies Pvt. Ltd. (dSPACE India S&T) will immediately support the global software development of providers of simulation and validation solutions. By expanding and globalizing its development capacities, dSPACE will be able to offer Indian customers solutions and also meet the requirements of global customers in...
    Mata Automotive opens new plant in Mexico
    Turkey-based Mata Automotive has opened a new plant in Aguascalientes in Mexico, according to a press release dated May 24. The company invested $30 million in the new plant, which will produce components for automakers operating vehicle assembly plants in the country. The investment will create 400 new jobs. “Through this plant, we are not just creating jobs or transferring technology; we are building bridges of mutual understanding and respect that transcend national borders. This is a cl...
    Porsche Ventures invests in Li-ion innovator South 8Technologies
    Sports car manufacturer Porsche, through its venture capital arm Porsche Ventures, has invested in a lithium-ion battery technology startup South 8 Technologies, according to a press release by South 8 on May 21. The US-based lithium-ion battery is working on an electrolyte solution that enhances range and performance in extreme environments. End-users include customers in electric vehicle, defense, aerospace, industrial, marine and stationary storage markets. South 8's LiGas e...
    Siete Leguas Automotive inaugurates new plant in Mexico
    Siete Leguas Automotive has invested in its second manufacturing plant in Mexico to produce aluminum automotive components, Mexico Now reported on May 23. The company invested $53.8 million in the new plant, located in Gómez Palacio, in the state of Durango. The investment will create 300 new jobs. Founded in 2018, Siete Leguas Automotive is owned by Grupo Siete Leguas (GSL), a major manufacturer and exporter of garments in Mexico. Although Siete Leguas Automotive is relatively new, the comp...
    Toshiba completes new 300-millimeter wafer fabrication facility for power semiconductors in Ishikawa Prefecture, Japan
    In a press release announcement May 23, Toshiba Electronic Devices & Storage Corp. held a ceremony to mark the completion of a new 300-millimeter wafer fabrication facility for power semiconductors and an office building at Kaga Toshiba Electronics Corp. in Ishikawa Prefecture. The completion of construction is a major milestone for phase 1 of Toshiba’s multiyear investment program. Toshiba will now proceed with equipment installation, toward starting mass production in the second half ...
    Israel-based electric motor supplier EVR Motors opens new plant in India
    EVR Motors, an Israel-based company specializing in high power-density electric motors, has opened a new manufacturing plant in Manesar, Haryana, through its subsidiary I.EVR Motors Pvt Ltd. According to the report by Autocar Professional, it is the first manufacturing operation by an Israeli automotive firm in India. The plant is set to produce trapezoidal geometry coils, a patented essential component for EVR's electric motors. Initial production aims to supply approximately 20,000 motors p...
    PPG to invest $300 million in new manufacturing plant in US to meet growing demand for paints and coatings
    PPG will invest $300 million in a new manufacturing plant in the US to support the growing demand of automotive paints and coatings, the company said in a press release May 21. The company will establish the new plant in Loudon County, Tenn. Construction of the 250,000 square-foot plant will commence in August and is expected to be complete in 2026. Once fully operational, the plant will produce more than 11 million gallon of paints and coatings annually. Initially, the plant will produce pai...
    C2A Security establishes German subsidiary to support customers in Europe
    Israel-based cybersecurity specialist C2A Security has established a subsidiary in Germany to support its customers in Europe, the company said in a press release on May 16. The new subsidiary, C2A Security GmbH, aims to enhance support for European customers, expand its local team and position C2A Security for robust growth in the latter half of 2024. C2A Security works with mobility-sector players such as carmakers and tier 1 suppliers to automate product security across the vehicle life cy...
    Mercedes-Benz funds training in AI and automated driving
    Mercedes-Benz Research & Development North America has announced a funding initiative aimed at advancing AI research in the automotive industry. The company will provide funding for 15 graduate students at Stanford University to conduct hands-on research in generative AI and its application in the automotive sector. The initiative also includes 3D imaging research at the University of California San Diego's Autonomous Vehicle Laboratory, as reported in a press release on May 7. The studen...
    Allison Transmission invests in venture capital firm EnerTech Capital
    Allison Transmission, through its venture capital arm, Allison Ventures, has invested $10 million in EnerTech Capital, a venture capital firm focused on the development of emerging technologies and business models in the mobility space. “EnerTech seeks to redefine the mobility sector through investments in companies that are shaping the future of the industry. This strategic partnership will accelerate Allison’s efforts to increase our innovation pipeline across commercial duty mobility a...
    Honda outlines investment and development strategy for electrification
    In a press briefing May 16, Honda outlined its investment and technology development strategy for this decade. The automaker said the mid-2020s will be the transitional period, from internal combustion engines (ICE) to electric vehicles, emphasizing its flexibility in responding to changes in demand, business environment and the need to ensure profitability. Honda confirmed its electrification target to make EVs and fuel-cell EVs represent 100% of its global vehicle sales by 2040. As of 2030, Ho...
    Japanese automaker Suzuki invests in California-based Glydways
    Japanese automaker Suzuki Motor Corporation has invested an undisclosed amount in California-based startup Glydways, Inc., the carmaker announced on May 15. Established in 2016, Glydways develops autonomous and battery-powered compact electric vehicles that are available on-demand for personal rapid transit. These EVs are of the size of a mini vehicle, and they travel on dedicated lanes. Glydways aims to revolutionize the urban mobility through their new traffic system that they claim is more...
    Inteva opens new technical center in Mexico
    Inteva Products has opened its new Querétaro Technical Center (QTC) in Mexico on April 23. The center marks a significant milestone in the company's customer-focused vision, as it brings Inteva closer to customers in the region for more face-to-face collaboration opportunities. The QTC currently houses engineering, program management, supply chain, IT, sales, pursuit and validation teams, all focused on developing and launching cutting-edge technologies in the field of Interiors. "The openin...
    BASF expands e-coat manufacturing in India
    BASF's coatings division has announced the expansion of its e-coat manufacturing facility at its Mangalore, India site, in response to the growing demand from automotive manufacturers in India and Southeast Asia. With this expansion, BASF will be able to manufacture the latest generation of e-coat products, including CathoGuard 800 RE, which offers improved efficiency and reactivity for electric vehicles. E-coat, also known as electrophoretic or cathodic dip coating, is used to protect car ...
    Hyundai Mobis to establish dedicated EV module plant in South Korea
    Hyundai Mobis has announced plans to build a dedicated electric vehicle (EV) module plant in Ulsan, South Korea, The Korea Herald reported on 9 May. The initiative, which involves an investment of around 90 billion Korean won ($65 million), is set to be completed by late 2025. The new plant will be situated near Hyundai Motor Group's upcoming EV plant in Ulsan and will provide essential modules, such as chassis and driver's seat modules, for next-generation electric vehicles.  The move e...
    Cepton secures $10 million engineering services agreement with Koito
    Cepton has signed an engineering services agreement with long-term automotive partner and shareholder Koito, it said in a press release dated May 13. Under the agreement, Koito will provide Cepton with $10 million in engineering services fees for the quarter ending June 30, 2024, to support a major global original equipment manufacturer program that Cepton and Koito have recently secured. The agreement aims to fuel Cepton's customer-specific product development and program execution efforts f...
    Yura inaugurates new Mexican plant, heralding economic growth and job creation
    Yura celebrated the inauguration of its new manufacturing plant for automotive parts, harnesses, high-voltage connectors and electrical components in Durango, Mexico, on May 12. Governor Esteban Villegas officiated the ceremony, which marked the beginning of a wave of economic growth and job creation in the region. The facility, located in the Mapimí, Durango, municipality, was established with an investment of 63 million pesos (about $3.7 million). In 2024 alone, Yura is expected to invest ...
    Tesla plans to invest $500 million to expand its Supercharger network
    Tesla CEO Elon Musk plans to invest over $500 million on expanding the Tesla Supercharger network globally, according to a news report published by CNBC on May 10. The news report quoted a statement from Musk, which said, “Just to reiterate, Tesla will spend well over $500 million expanding our Supercharger network to create thousands of new chargers this year. That’s just on new sites and expansions, not counting operations costs, which are much higher.” The news has come days after...
    Toyota plans to invest $13 billion on EVs, AI and supply chain
    Japan’s largest automaker Toyota Motor Corp. plans to invest ¥2 trillion (about $12.9 billion) on new technology development, including electric vehicles and hydrogen propulsion systems, as well as on strengthening its supply chain management in the financial year ending March 2025, according to a news report published by Nikkei Asia on May 8. The automaker reported a record net profit of ¥4.9 trillion for the financial year ended March 2024 on May 8. The results were helped by a wea...
    US government plans new funding for small, medium-sized auto component suppliers
    The US government plans more than $100 million in new funding for small and medium-sized automotive component manufacturers, aiding them in expanding and retooling their manufacturing facilities, the White House said in a press note issued on May 6. The announcement comes as US Vice President Kamala Harris is on a nationwide Economic Opportunity Tour to take stock of new investments in the US automotive industry. According to the press note, the new funding of over $100 million for small a...
    German Ministry rejects lithium producer Rock Tech’s funding application
    Lithium producer Rock Tech’s grant funding application has been rejected by Germany’s Federal Ministry of Economics, according to a news report published by the German newspaper Handlesblatt on May 7. The company was seeking federal funding under the ministry’s Resilience and Sustainability of the Battery Cell Production Ecosystem guidelines for its project in Guben, Brandenburg. Notably, these funding guidelines were launched by the Ministry of Economic Affairs in 2023 as part ...
    Cariad to acquire 24.5% stake in Vaiva
    Cariad Group intends to acquire a 24.5% stake in Vaiva GmbH, an automotive active safety expert, from Andata, a leading AI company in the automotive software space. The acquisition is subject to approval by antitrust authorities and will give Cariad full ownership of Vaiva, strengthening its in-house expertise in active safety functions. Cariad and Andata have signed a share purchase agreement for the acquisition. Audi Electronics Venture has held 75.5% of shares in the joint vent...
    BMW kicks off construction of high-voltage battery assembly plant in Mexico
    BMW has commenced the construction of its high-voltage battery assembly plant in Mexico, the German luxury-car maker announced May 3. The company said that its facility in Mexico, named BMW Group Plant San Luis Potosí, is also expanding the body shop, assembly and logistics areas. The new battery plant will prepare the company to produce its Neue Klasse range of electric cars in Mexico from 2027. BMW said that the company is investing a total of €800 million on expanding capacities at its ...
    Autonomous vehicle technology startup Wayve raises $1 billion
    Wayve announced in a press release on May 7 that the company has successfully raised $1.03 billion in Series C funding. This significant investment showcases investor confidence in the potential of AI to revolutionize various industries. SoftBank, the Japanese conglomerate known for its investments in Uber and other technology companies, led the funding round, with participation from Microsoft and Nvidia. Notably, Wayve's previous investors include Yann LeCun, the chief AI scientist at Meta...
    Hyundai plans to invest about $1 billion on self-driving startup Motional
    Hyundai has announced a substantial investment of nearly $1 billion in self-driving startup Motional, securing a majority stake in the company, according to a report published by TechCrunch on May 2. This investment will provide Motional with the necessary capital to continue its operations. As part of the deal, Hyundai invested $475 million directly into Motional and will spend an additional $448 million to acquire an 11% stake in Motional's common equity interest from joint venture partner ...
    ZC Rubber plans to invest $597 million in Coahuila, Mexico
    ZC Rubber is set to invest over $597 million in the state of Coahuila, Mexico, according to a report published by Mexico Now on May 6. Governor Manolo Jimenez announced that this investment will create thousands of jobs and is the first of several investments resulting from economic promotion tours in Asia. Governor Jimenez initiated discussions with ZC Rubber several months ago during his first tour as governor-elect and continued dialogue with the company's president, Jin Rong Shen, and v...
    US EV maker Rivian to receive $827 million in Illinois state funding to expand capacity
    Electric carmaker Rivian Automotive Inc. announced May 2 that it has received an incentive package of $827 million from the State of Illinois Department of Commerce and Economic Opportunity. The state funding is expected to allow Rivian to expand operations at its plant in Normal, Ill. The funds from the incentive package will go toward expansion of the manufacturing plant, improvements in public infrastructure and job training programs for Rivian’s workforce, leading up to the co...
    Auto AI startup Blaize secures $106 million in funding
    AI computing innovator Blaize has raised $106 million in funding from existing investors, including Bess Ventures, Franklin Templeton, Denso, Mercedes-Benz and Temasek, as well as new investors Rizvi Traverse, Ava Investors and BurTech LP LLC, according to a press release dated April 29. This investment will help Blaize solidify its position in edge AI computing and accelerate its roadmap of platforms and solutions for AI computing from the edge to the data center. The funding will be us...
    HL Klemove opens advanced driving assistance system radar manufacturing unit in India
    HL Klemove Corp. has inaugurated its first local Advanced Driving Assistance System (ADAS) Radar Manufacturing Unit in India. The unit was launched at the company's Chennai, India, plant, marking a significant milestone in the Make in India initiative. The event was attended by Vinod Sahay, president and chief procurement officer of Mahindra & Mahindra Ltd.; and Pal-Joo Yoon, CEO of HL Klemove; according to a report published by Telemetics Wire on April 25. HL Klemove is the first co...
    Kongsberg Automotive expands presence in Mexico with upgraded manufacturing facility
    As reported in a press release on April 25, Kongsberg Automotive (KA) has officially opened its upgraded plant in Ramos Arizpe, Mexico, marking a significant milestone for the company. The plant represents an expansion and relocation from KA's earlier location in the region since 2018. The upgraded facility spans over 15,500 square meters and is equipped with advanced technologies to support the manufacture of flow control systems (FCS) products, including Raufoss Couplings and high-perform...
    Toyota to pump $1.4 billion at its Indiana, US, plant to prepare for an all-new, three-row battery-electric vehicle
    Toyota plans to invest $1.4 billion at its Princeton facility in Indiana, US, to prepare the manufacturing plant to produce an all-new, three-row battery-electric sport utility vehicle (SUV) in the US, the automaker announced April 25. The new investment plan will bring Toyota’s cumulative investments at the Indiana facility to $8 billion, the company said, adding that the move will also add up to 340 new, high-quality jobs with long-term stability at the site. The new announcement comes...
    LG Energy, Posco plan to cut down battery investments amid EV sales slowdown
    South Korean companies LG Energy Solution (LGES) and Pocso plan to cut down their battery investments to steer through the decelerating global demand for electric vehicles, according to a news report published by The Korea Times on April 26. The report cited statements by both the companies. The report said that LGES plans to lower its capital expenditure in 2024 in order to improve profitability. The move comes after South Korea’s largest battery-maker announced a 75% year-over-year dec...
    Martinrea invests $6 million in Equispheres for advanced materials technology
    Martinrea International has announced that it led a financing round for Equispheres Inc., acquiring convertible preferred shares worth $6 million, in a press release dated April 23. This is the second investment the company has made in Equispheres, following a C$1 million investment in April 2023. Equispheres' technology helps lower the cost of additive manufacturing in automotive to the point where the production of 3D printed automotive components at scale is possible. “Equispheres is ...
    ZF Group invests $12 million for expansion in Mexico
    ZF Group has made an investment of over $12 million to expand its operations in Querétaro, Mexico, Mexico Now reported April 22. The investment reflects the company's confidence in the region and marks a significant milestone by introducing the first steer-by-wire line with steering wheel actuators. Andreas Temmen, vice president of Steerling Product Line Operations at ZF Group, presented the details of the project to a delegation led by the governor of Querétaro during the annual Hannover ...
    Ford plans to expand India tech hub for EV software capabilities
    Ford Business Solutions India, a subsidiary of Ford, is set to add 3,000 more employees to its current workforce of 12,000 in Chennai. Ford has already invested $250 million in the Chennai hub and is likely to make further investments. The automaker is working on developing additional EV software capabilities at its Chennai technology hub, indicative of the software development potential it sees in India to cater to its global EV business program. Ford Business Solutions India is a strategic ...
    Hyundai Mobis begins construction of EV battery system plant in Spain
    Mobis has announced that it has begun the construction of a new electric-vehicle battery system assembly (BSA) plant in Spain, in a press release dated April 24. The new plant in Spain will serve as a dedicated facility supplying Volkswagen. Mobis plans to invest 170 billion South Korean won (about $128 million, excluding land and facility) by 2030 in the plant with mass production expected by 2026. Mobis currently operates battery system production facilities in South Korea, mainland China, ...
    Honda plans to invest $808 million in Brazil by 2030
    Japanese automaker Honda is planning to invest 4.2 billion reais (about $807.74 million) in its Itirapina plant in Brazil by 2030, a Reuters report dated April 20 said. The company aims to develop a hybrid-flex vehicle in the South American country. Honda Commercial Vice President in Brazil Roberto Akiyama said the firm's investments would be focused on new technologies and the development of a hybrid model for the Brazilian market, which would be able to run 100% on ethan...
    Kirchhoff Automotive expands in Mexico with new production building in Puebla
    Germany-based Kirchhoff Automotive has announced plans to expand its operations in Mexico by establishing a new production building in Puebla, Mexico Now reported April 17. The plant will begin operations in 2025 and will generate 300 direct jobs in the area, mainly for welding and painting structural components for customers such as BMW in San Luis Potosí. The expansion is in addition to the $40 million investment in Opción Industrial Park in San José Iturbide, Guanajuato, Mexico.&nb...
    Honda’s upcoming EV hub in Ohio, US, on track, to start EV production in 2025
    Japanese carmaker Honda Motor Co. announced April 13 that it continues to make critical progress in the establishment of the Honda EV Hub in Ohio, US. The site is strategic for the company as it is slated to serve as a roadmap for production of electric vehicles in North America. The company, which plans to start EV production in late 2025 in the US, updated that retooling efforts are well underway, including preparation for vehicle production and in-house assembly of the Intelligent Pow...
    Graphjet Technology plans to build a commercial artificial graphite production plant in Nevada, US
    Graphjet Technology, a leading developer of patented technologies to produce graphite and graphene from agricultural waste, plans to build a commercial artificial graphite production facility in Nevada, US, the company announced April 8. Graphjet said that it plans to commission and begin production at the new facility in Nevada in 2026. The planned facility, which according to the company will be first-of-its-kind in the US, will be capable of recycling up to 30,000 metric tons of palm ke...
    AI startup SiMa.ai raises $70 million to develop autonomous vehicle chip technology
    In a press release on April 4, SiMa.ai announced it has raised an additional $70 million of funding led by Maverick Capital, with participation from Point72 and Jericho, as well as existing investors Amplify Partners, Dell Technologies Capital, Fidelity Management & Research Co., Lip-Bu Tan and others. SiMa.ai will utilize the $270 million raised to date to continue meeting customer demand for edge AI/machine learning (AI/ML) with its first-generation machine learning system-on-chip (MLSo...
    Renesas begins operations at Kofu factory in Japan
    Renesas Electronics Corp. has started operations at its Kofu Factory in Kai City, Yamanashi Prefecture in Japan, it said in a press release dated April 11. The factory was previously operated by Renesas Semiconductor Manufacturing Co. Ltd. but ceased operations in 2014. Renesas invested ¥90 billion (about $587.2 million) in the factory's reopening in 2022 and has now started operations, with plans to double its current production capacity for power semiconductors. The Kofu Factory will start...
    Volkswagen plans to invest $2.7 billion in mainland Chinese production site
    Volkswagen has revealed its plans to invest $2.7 billion in mainland China to expand its production and innovation hub in Hefei, Anhui Province, mainland China, according to a report published by Reuters on April 11. The company is also preparing for the production of two Volkswagen brand models in collaboration with mainland Chinese partner Xpeng, with production set to begin in 2026. Ralf Brandstaetter, Volkswagen Group's management board member for China, stated that the Hefei site will en...
    Nio opens new smart driving technology center in Germany
    Nio has opened its smart driving technology center in Schönefeld near Berlin. The center is the first of its kind outside of China and marks a significant milestone in Nio's international footprint. The new facility will lead the development of Nio's smart driving assistance systems, tailored to the needs of European users, according to a press release on April 8. The smart driving technology center is located in the greater Berlin area, close to Nio's Berlin Innovation Center, which opened ...
    Uno Minda breaks ground for greenfield passenger vehicle alloy wheel plant in Haryana, India
    Uno Minda has announced the groundbreaking ceremony for its upcoming greenfield passenger vehicle alloy wheel plant at IMT Kharkhoda in Haryana state, India, Business Standard reported on April 10. The plant will have a capacity to produce 120,000 wheels per month. The company has announced a capital outlay of 5.42 billion rupees (about $65 million) to set up the plant in a phased manner over the next five years. Phase 1 is expected to be commissioned in the second quarter of fiscal year 2026. ...
    Upstream Security receives investment from Cisco
    Upstream Security, a leading provider of cybersecurity extended detection and response (XDR) for connected vehicles and internet of things, has received an investment from Cisco Investments. The proliferation of complex IoT devices in the mobility, automotive and transportation sectors introduces unprecedented operational efficiencies, data-driven services and solutions, and exceptional customer experience. However, advanced connectivity and software-defined components also open the door for lar...
    Basemark raises €22 million to develop augmented reality software for cars
    Basemark, a Finnish company specializing in automotive AR software, has raised €22 million in series B funding. The round was led by ETF Partners, with participation from Finnish Industry Investment (Tesi); Constructor Capital, a single-family office based in Zürich; Business Finland; the European Innovation Council; and private investors. Basemark's Rocksolid AR software enables original equipment manufacturers to develop AR applications for their cars, improving safety and providing a mo...
    Carrar raises $5.3 million to deliver commercial battery modules for EVs
    Carrar, a provider of battery modules and thermal management systems for electric vehicles (EVs), has closed its $5.3 million Series A funding round. The round included new investors Salida B.V. OurCrowd, and NextGear, and current investors Gentherm, Next Leap Ventures, Dive Digital, and others, according to press release on April 9. Carrar's battery modules and thermal management systems dissipate twice the amount of heat of existing solutions, increasing battery lifespan three-fold, and imp...
    Nexeon breaks ground on first commercial-scale silicon anode production facility in South Korea
    Nexeon has broken ground on its first commercial-scale production facility in Gunsan, South Korea, it said in a press release dated April 3. The plant is expected to begin delivering silicon anode material starting in 2025, fulfilling a previously announced binding supply agreement with Panasonic. The site is situated adjacent to chemical company OCI's facilities, which enables a fenceline supply of silane, a critical raw material, and ensures capital efficient scaling for both companies...
    LG Energy to produce 46-Series cylindrical batteries for EVs at Arizona, US, battery complex
    The construction of LG Energy Solution’s upcoming $5.5 billion, 53-GWh battery manufacturing complex in Arizona, US, is on track, with production operations expected to commence as early as 2026, the South Korean battery-maker updated on the sidelines of a stakeholder meeting on April 3 at Combs High School in San Tan Valley near the town of Queen Creek, Ariz., where the complex is located. The stakeholder meeting was attended by the senior leadership team, including Brian Oh, head of Mobil...
    TSMC and US Commerce Department announce $6.6 billion in proposed CHIPS Act direct funding
    TSMC has announced plans to invest up to $6.6 billion in its Arizona, US, subsidiary, TSMC Arizona, to meet strong customer demand for its advanced semiconductor products, as reported in a press release on April 8. The investment will be used to build a third fab at the site, which will be the largest foreign direct investment in Arizona's history and the largest foreign direct investment in a greenfield project in US history.  The company has signed a non-binding preliminary memorandum ...
    Schaeffler India to invest 15 billion rupees in expansion over next three years
    Schaeffler India has proposed to invest 15 billion rupees (about $180 million) over the next three years to expand its production capacity, The Hindu Business Line reported March 26. It includes the establishment of a new factory at Hosur, Tamil Nadu, India, at an investment of 3 billion rupees. The company has made significant investments in 2022, with a focus on enhancing capacities for its export business and growing domestic automotive and industrial businesses. Schaeffler India plan...
    SK hynix signs investment agreement of advanced chip packaging with Indiana
    SK hynix Inc, a supplier of high-bandwidth memory (HBM) chips, announced that it will invest an estimated $3.87 billion in West Lafayette, Indiana to build an advanced packaging fabrication and R&D facility for AI products. The project, the first of its kind in the United States, is expected to drive innovation in the nation’s AI supply chain, while bringing more than 1,000 new jobs to the region, as reported in a press release on April 3. Leveraging its dominant position in the HBM mar...
    Chinese carmaker Chery plans to set up $800 million EV factory in Vietnam
    Chery, a leading carmaker from Mainland China, plans to build an $800 million EV plant in Vietnam, becoming the first Chinese EV maker to set up a facility in the country, according to a news report published by Nikkei Asia on April 4. The report, which cited Vietnam's trade ministry, said that Chery has signed a joint venture agreement with a local Vietnamese company named Geleximco to set up a car factory. The plant will be jointly established by Chery's Omoda and Jaecoo divisions along wit...
    Hailo extends fundraising round with $120 million investment
    Hailo has announced the extension of its Series C fundraising round with an additional investment of $120 million, according to a press statement on April 2. The new funding round was led by current and new investors, including the Zisapel family, Gil Agmon, Delek Motors, Alfred Akirov, DCLBA, Vasuki, OurCrowd, Talcar, Comasco, Automotive Equipment (AEV) and Poalim Equity. To date, the company has raised over $340 million. “The closing of our new funding round enables us to levera...
    Koito expands Indian operations with new plant in Gujarat
    Koito Manufacturing has announced that its subsidiary, India Japan Lighting Pvt. Ltd. (IJL), has opened its third plant in Gujarat, India, in response to the medium-to-long term growth of the automotive industry and increasing new orders, in a press release dated March 29. The new plant is located in Sanand Industrial Park, Gujarat, and Koito has invested approximately ¥3.7 billion (about $24.9 million). The plant will manufacture and sell automotive lighting equipment, with a production cap...
    Horiba Mira invests in UK safety-testing hub
    Horiba Mira, a leading automotive safety test engineering company, is investing in its Passive Safety Engineering Centre in the West Midlands, UK, to ensure the country's continued contribution to vehicle safety engineering, it said in a press release dated March 26. The investment extends and upgrades the existing crash lab, allowing manufacturers to conduct a full suite of passive safety compliance tests, including European New Car Assessment Program (EuroNCAP) requirements in the UK. This ...
    Valeo opens new plant in Daegu, South Korea, for production of advanced driver assistance systems
    In a press release announcement on March 28, Valeo has opened a new manufacturing facility in Daegu, South Korea, for the production of sensors for vehicle automation. The facility was officially launched in the presence of Daegu Metropolitan Mayor Hong Joon Pyo, Valeo executives and French Ambassador of Korea Philippe Bertoux. In July 2022, Valeo signed an investment agreement worth $56 million with the Daegu Metropolitan Government to mass-produce advanced driver assistance systems (ADAS) p...
    Suzuki invests in IoT connectivity provider to explore carbon-neutral mobility solutions
    Suzuki Motor Corp. (SMC) has invested in Soracom Inc., a global provider of advanced internet of things connectivity, through its corporate venture capital fund, Suzuki Global Ventures. The collaboration aims to explore opportunities to apply leading-edge IoT technologies in mobility services, with potential focus areas including electric vehicles designed for the global market, modular "mobility base units," and new technologies and services designed to support carbon neutrality. This move c...
    Sony expands production capacity for automotive applications
    According to a press release on March 28, Sony Semiconductor Solutions has commenced operations at its new fabrication facility, Building 4, located on the premises of Sony Device Technology (SDT), Thailand. The facility will produce image sensors for automotive applications, display devices and laser diodes for data center applications. SDT plans to create approximately 2,000 new jobs and expand its production facilities in line with market trends. The new fab is powered by 100% renewable en...
    Hyundai Motor to invest over $50 billion in South Korea between 2024–26
    South Korean automaker Hyundai Motor Group plans to make a big-ticket investment of 68 trillion won (over $50 billion) on research and development projects, capacity expansion and recruitment of new talent between 2024–26, as the company prepares to transition to zero-emission mobility, Hyundai announced March 27. The earmarked investments are aligned with Hyundai Motor’s larger strategy of becoming one of the top three electric vehicle manufacturers globally by 2030. Hyundai’s inves...
    Covestro opens production plant for polycarbonate copolymers
    Covestro has unveiled its first plant for polycarbonate copolymers that can produce high-quality plastics on an industrial scale at its Antwerp site in Belgium, according to a company press release dated March 27. The new production process enables the company to offer a broad portfolio of material innovations. The new proprietary platform technology is based on a solvent-free melt process in combination with a new reactor concept. These polycarbonates with adjustable properties have bee...
    Japan’s AESC pours another $1.5 billion on expanding capacity at its US plant
    Japanese battery-maker AESC plans to invest another $1.5 billion toward capacity expansion at its lithium-ion battery manufacturing operations in Florence County, SC, the company announced March 26. The new investment follows AESC’s initial announcement in December 2022 and expansion announcement in December 2023, resulting in a total investment of $3.12 billion. AESC said that the additional investments earmarked for the site will create 1,080 new jobs. The project supports a total of 2,70...
    New Schedl Hungária investment to create 160 jobs in Hungary
    Schedl Hungária Kft., a German-owned company specializing in wheel assembly and sequential delivery, is investing €101.1 million to open new production facilities in Debrecen, Hungary, and Kecskemét, Hungary. The greenfield investment is expected to create 160 jobs and enable the company to meet growing demand in the electric vehicle segment, particularly from BMW and Mercedes-Benz. With 30 years of experience and 17 million wheels delivered annually, Schedl has established itself as a tr...
    EVE Energy mulls battery plant in Coventry, UK
    Mainland China-based battery-maker EVE Energy is in talks to invest more than £1 billion to set up a gigafactory on the outskirts of Coventry, UK, according to a news report published by The Guardian on March 24. Citing sources aware of the ongoing talks, the report mentioned that EVE Energy is interested in constructing a 5.7 million-square-feet gigafactory at a site in Coventry. The project will form one of the main parts of the planned UK Centre for Electrification, an investment zon...
    EV Tech company Indigo Technologies gets investment from Foxconn
    Indigo Technologies, a smart EV OEM, has announced that Foxconn has invested in the company, in a press release dated March 25. The investment will help accelerate the development of Indigo's Smart EVs. The investment aims to provide superior user experiences and sustainable unit economics for fleets, businesses, and transportation companies. Indigo's Smart EVs will feature advanced road sensing technology, known as SmartWheels, which will enable a whole new vehicle architecture and prov...
    indie Semiconductor announces strategic investment in Expedera
    In a press release on March 20, indie Semiconductor has announced a strategic investment in Expedera Inc, a provider of scalable Neural Processing Unit (NPU) semiconductor intellectual property (IP). The partnership will deliver customized artificial intelligence (AI) enabled processing capabilities for sensing solutions targeting Advanced Driver Assistance Systems (ADAS) and includes a commercial agreement to integrate customized Expedera Origin NPU processing solutions into future indie produc...
    BYD plans to commence EV production in Indonesia in 2026
    BYD, a leading mainland Chinese electric-vehicle maker, plans to commence the production of electric cars in Indonesia in early 2026, according to a news report published by CnEVPost on March 20. The report cited a senior government official named Luhut Panjaitan, who disclosed the information on social media. Citing Panjaitan’s social media post, the report said that BYD plans to organize a groundbreaking ceremony for its upcoming EV factory in Indonesia in July 2024. It can be rec...
    Magna invests $166 million in Coahuila, Mexico, for electric mobility
    Magna International has invested $166 million in Ramos Arizpe, Coahuila, Mexico, according to an article by Mexico Now on March 20. The investment will be used in a plant that will produce electrical and structural parts for electric vehicles. The development is expected to generate 700 new jobs.  With this new investment, Magna will strengthen its presence in the region, adding a new facility to its existing 10 plants in Coahuila. Magna already employs over 15,000 people in the region. ...
    Stellantis invests in SteerLight for advanced Lidar technology, poised to enhance ADAS in future vehicles
    Stellantis Ventures, the corporate venture fund of Stellantis NV, has invested in SteerLight, a startup that develops a new generation of high-performance Lidar sensing technology, as reported in a press release on March 20. SteerLight's technology employs silicon photonics technology to provide 3D-surroundings sensing with higher resolution and precision at a lower production cost than current Lidar systems. This technology has the potential to enhance advanced driver assistance sy...
    Renault Korea Motors to invest $523 million in hybrid production
    Renault Korea Motors, a subsidiary of French automaker Renault, plans to invest about 700 billion won (about $523 million) to establish hybrid vehicle production facilities at its existing plant in Busan, South Korea. The company is also in talks with Renault regarding investment in electric vehicle production, which could result in an additional investment of 1.5 trillion won by 2027. The Busan plant, which was originally built by Samsung Group in the 1990s, was acquired by Renault after ...
    Tokyo Century invests in May Mobility for autonomous vehicle deployment in North America and Japan
    May Mobility has announced that Tokyo Century Corp. has invested in the US-based autonomous vehicle technology company, in a press release dated March 19. The aim of the investment and partnership is to  deploy and promote autonomous vehicles across North America and Japan. Tokyo Century provides various mobility services, including auto leasing and car rentals, and has set electric vehicles and their related businesses, data business, autonomous driving technology, and other n...
    Telechips invests in Aura to collaborate on autonomous driving
    Telechips and Aura have entered into an investment agreement to collaborate on automotive technologies, particularly in the area of advanced driver assistance systems (ADAS) and autonomous driving, according to a press release dated March 19. Telechips has agreed to invest an undisclosed amount in Aura, a radar technology solution development firm based in Boston. Telechips joins existing investors including Ray Stata (founder of ADI), Activate Global and GigaScale Capital. Aura speci...
    Ficosa unveils $600 million investment plan for emerging tech, sustainability efforts
    Ficosa, a global leader in advanced vision, safety and efficiency solutions for the automotive industry, is celebrating its 75th anniversary with a new global investment plan worth €600 million over the next five years. The investment will be used to continue developing and integrating emerging technologies into the company's products and processes, as well as drive various sustainability projects aimed at achieving climate neutrality by 2030. Ficosa was founded in 1949 in Barcelona, S...
    Yokohama Rubber to build a new passenger car tire plant in Mexico
    The Yokohama Rubber has announced in a press release on March 18 that it will build a passenger car tire plant in Mexico to strengthen its capacity to supply tires to the North American market. The new plant will have an annual production capacity of 5 million tires, with planned capital investment totaling $380 million. Construction of the new plant will start in the second quarter of 2024, and production is scheduled to start in the first quarter of 2027. The new plant will be built on a site ...
    Continental invests over €100 million in its operations in Romania in 2023
    As reported in a press release on March 14, Continental announced that, in 2023, it has invested over €100 million in its operations in Romania and exceeded 20,300 employees, up from 19,000 employees in 2022. Throughout 2023, Continental made significant investments in new equipment, advanced technology and employee development across all its Romanian locations. These locations include the electronic component factories in Timișoara and Sibiu; the ContiTech factories in Timișoara and...
    Creador to invest $50 million in mobility engineering firm Hinduja Tech
    Hinduja Tech Ltd. (HT), a mobility-focused global engineering research and development services company and a subsidiary of Ashok Leyland, has announced the signing of a definitive agreement for private equity firm Creador to invest $50 million, subject to the completion of customary closing conditions. Creador will acquire 19.6% shareholding in the company, HT said in a press release on March 14. The company said this fresh capital infusion will allow it to augment its existing capabilities ...
    Lumax to set up new auto-lamps manufacturing plant in India
    Lumax Industries’ board has approved a proposal to set up a new manufacturing facility at Sanand, India, as well as the expansion of its Chakan Plant at Pune, India, Business Standard reported March 13. The report added that the new plant at Sanand will cater to new orders received from original equipment manufacturer customers for advance lighting solutions. The plant is expected to be commissioned by the first quarter of fiscal year 2024–25. The expansion of the Chakan plant, ...
    Lohum raises $54 million to accelerate international expansion
    Lohum, a battery recycling and repurposing firm, has raised $54 million in Series B funding from various venture firms, including Singularity Growth, Baring Private Equity, Cactus Venture Partners and Venture East, Autocar reported March 13. The funds will be used to accelerate the company's international expansion, hire top professionals from India and expand its operations in North America, the EU, the Middle East, Africa and Asia. "The funds will expedite our international expansion, ...
    SQM Lithium Ventures increases its investment in UK-based startup Altilium by $9.43 million
    SQM Lithium Ventures made another follow-on investment of $9.43 million in UK-based, battery-recycling startup Altilium, bringing its total investment in the company to $12 million, Altilium announced Feb. 21. The startup said that SQM Lithium’s second tranche of investment completes its Series A funding round, which saw Sociedad Química y Minera de Chile (SQM) as the largest investor. Notably, SQM Lithium Ventures is the corporate venture arm of the lithium business of SQM, one of the ...
    Li-Cycle raises $75 million in fresh investment from Glencore
    Li-Cycle Holdings Corp., a leading global lithium-ion battery recycling company, has raised $75 million from Glencore, a leading supplier of critical battery materials. In a press note issued on March 12, Li-Cycle announced that it has entered into an agreement to issue a senior secured convertible note in an aggregate principal amount of $75 million to an affiliate of Glencore PLC. As previously announced, Glencore has designated Li-Cycle as one of its preferred recycling partners, and Li-Cy...
    Tata Motors to invest 90 billion rupees in Tamil Nadu, India
    Tata Motors has signed a memorandum of understanding (MOU) with the government of Tamil Nadu, India, to establish a vehicle manufacturing facility in the state, committing an investment of 90 billion rupees (about $1.08 billion) over a five-year period and potentially creating up to 5,000 jobs. The MOU was exchanged in the presence of M.K. Stalin, the chief minister of Tamil Nadu, and signed between V. Vishnu, IAS, managing director and CEO, Guidance; and P.B. Balaji, Group CFO, Tata Mot...
    Bridgestone invests €207 million in Spain plant for premium tire production
    Japanese tiremaker Bridgestone has announced a significant investment of up to €207 million in its Burgos passenger tire manufacturing site in Spain, aimed at elevating tire production to the highest levels of excellence and sustainability. The project involves technological innovation plans to be implemented between now and 2030, with a focus on automation, increasing vulcanization capacity and creating an automatic high-bay warehouse. This investment reflects Bridgestone's commitment to m...
    Applied Intuition raises $250 million to accelerate AI-powered vehicle software development
    Applied Intuition, a software supplier for various industries, has raised a $250 million Series-E financing round at a $6 billion valuation. The round was led by existing investors Lux Capital, Elad Gil and Porsche Investments Management SA, with participation from new and existing investors such as Andreessen Horowitz, General Catalyst, Mary Meeker, Henry Kravis, Mustafa Suleyman, Ray Dalio, John Quinn and Nico Rosberg. The company plans to use the funds to invest in generative AI and expand...
    EV motor and controller startup Attron Automotive raises about $574,000 in seed funding
    Venture Catalysts has invested in Attron Automotive, a startup that specializes in precision-engineered motor and controller solutions, an article by The Financial Express dated March 11 read. The company raised a total of 47.5 million Indian rupees (about $574,000) in the seed round, led by Anicut Capital and coled by Venture Catalysts, Pontaq VC and Yashovardhan Shah (angel investor). Attron Automotive's product portfolio includes precision-engineered motors and advanced controllers th...
    Amsted Automotive expands manufacturing footprint in mainland China
    Amsted Automotive has expanded its manufacturing footprint with the opening of a new facility in Nanjing, mainland China, it said in a press release dated March 6. The facility, named Means Nanjing Automotive Components Ltd., will produce efficiency-enhancing driveline solutions for vehicles assembled in the Asian market. With this expansion, Amsted Automotive now has 22 facilities located in North America, Europe and Asia to support global automakers. The new facility has the capacity to pro...
    Nippon Steel announces fresh investments in auto steel-component production in Mexico
    Japanese steelmaker Nippon Steel announced an investment of $71.3 million to set a new plant to produce automotive steel components. The plant is located in the municipality of Apaseo El Grande, Mexico, at proximity to Japanese automaker Toyota's assembly plant. It is likely to create 200 new direct jobs. According to Directorio Automotriz, the new plant will produce 120,000 metric tons of automotive steel sheets per year for electric vehicles in four production lines. Nippon Steel already...
    SK Hynix invests $1 billion in AI memory chip technology - report
    SK Hynix, a South Korean chipmaker, is investing over $1 billion in advanced chip packaging, The Business Times reported on March 7. The investment will help SK Hynix capture a larger share of the growing market for AI memory, known as high-bandwidth memory (HBM). The company is expanding its packaging process, led by Lee Kang-wook, a former Samsung Electronics engineer. The company will look to reduce power consumption, drive performance and cement its lead in the HBM market. SK Hynix h...
    Guizhou Tyre plans to set up the new automated production factory in Vietnam
    Guizhou Tyre is set to invest $228 million to build a new factory in Vietnam, Yicai Global reported on March 6. The setting up of the new factory is in response to strong demand. The new factory, located near the company's existing plants in Tỉnh Tiền Giang, will have an annual production capacity of producing 6 million semi-steel radial tires used in passenger cars and will cater to overseas markets. The project is expected to become operational at 60 percent of its designed capacity 12 ...
    Mitsubishi Corp. to acquire stake in a lithium mining JV with Canada’s Frontier Lithium
    Japanese conglomerate Mitsubishi Corp. has signed a binding agreement with Canadian lithium mining company Frontier Lithium Inc. to establish a new joint venture company focused on developing a lithium mine, located in Ontario, named "the PAK Lithium Project", the company announced March 5. As part of the agreement with Frontier Lithium, Mitsubishi plans to make an equity investment of C$25 million to acquire a 7.5% stake in the JV company. The Japanese energy major has also obtained the righ...
    Stellantis plans to invest €5.6 billion in South America
    Stellantis, a leading automaker, has announced a record investment plan of €5.6 billion for the South American region from 2025 to 2030. This investment will support the launch of over 40 new products, development of new Bio-Hybrid technologies, and strategic new business opportunities. The investment reinforces Stellantis' leadership in the region and accelerates its achievement of its Dare Forward 2030 long-term strategic plan. The investment will be used to develop new Bio-Hybrid technol...
    BMW begins construction of high-voltage battery-assembly plant in Thailand
    BMW Group has commenced the construction of its own local manufacturing facility for the generation-5 high-voltage batteries in Rayong, Thailand, the company announced March 4. The local battery-assembly unit will enable BMW to manufacture fully electric vehicles, with local battery-electric vehicle (BEV) production scheduled to start in the second half of 2025. The planned high-voltage battery-assembly facility is expected to have a footprint of 4,000 square meters and is going to be an impo...
    Brakes India invests $70 million in Mexican foundry plant
    India’s major automotive supplier, Brakes India, announced an investment of $70 million in Mexico. The investment is expected to create 700 jobs, thanks to the construction of a new smelting plant in the state, Mexico Now reported March 4. Brakes India Managing Director Sriram Viji highlighted that the company is a leading figure in the production of braking systems and the casting of iron components for vehicles. He further explained that the project will be developed in two phases, estima...
    Toyota to invest $2 billion in Brazil ‒ report
    Japanese automaker Toyota will announce on March 5 an 11 billion real (about $2.2 billion) investment for the next few years in Brazil, quoting the South American country's vice president, according to a Reuters report on March 4. Toyota said in a statement earlier on March 3, after local media had first reported the new investments, that it had no comment on potential plans. The report further said Brazil's Vice President and Minister for Industry Geraldo Alckmin announced on social media...
    CG Power, Renesas and Stars Microelectronics partner to establish semiconductor assembly and test facility in India
    According to a report published by Autocar Professional on March 1, CG Power and Industrial Solutions Ltd. (CG), Renesas Electronics and Stars Microelectronics have announced a partnership to establish an Outsourced Semiconductor Assembly and Test (OSAT) facility in India. This collaboration, facilitated by a Joint Venture Agreement (JVA), aims to enhance India's semiconductor capabilities and ecosystem in alignment with the country's "Make in India for the World" initiative. CG will dri...
    Volkswagen Group Africa inaugurates new airbag deployment center in South Africa
    Volkswagen Group Africa has inaugurated a new airbag deployment center in South Africa, Times Live reported on Feb. 29. The automaker invested 20 million rand (about $1.1 million), and the construction took nearly two years. The facility, at the B Plant in Kariega, South Africa, is set to enhance the plant's airbag-testing capacity to 150% of its previous output. While the existing facility can conduct 48 tests per week, including three dashboards and 45 seats, the new center has the capacity...
    Leoni completes relocation to Factory of the Future in Roth, Germany
    Leoni Kabel GmbH has finalized its relocation to the state-of-the-art Factory of the Future in Roth, Germany, bidding farewell to its Stieberstrasse, Germany, site. The ceremonial handover of the prime town-center location to the city of Roth marks the beginning of a new chapter in the enduring partnership between Leoni and the city, as reported in a press release on March 1. “On the one hand, we are sad that an era of more than 100 years in the heart of the City of Roth is coming to an end...
    Oshkosh invests in Eatron for AI-powered battery-management software
    Oshkosh has invested in Eatron Technologies, a company specializing in developing AI-powered battery-management software (BMS), it said in a press release dated Feb. 29. The investment aligns with Oshkosh's strategy to collaborate with advanced technology companies to bring innovative solutions to its customers. Eatron's BMS combines models of the battery with AI and advanced estimation methods to provide accurate predictions about the battery's state, health and operation. The investmen...
    Infineon to expand R&D presence in Ireland
    Infineon Technologies has announced its plans to expand its research and development presence in Ireland by creating over 100 highly skilled engineering positions across its Dublin and Cork sites within the next four years, according to IDA Ireland's press release on Feb. 28. The new jobs will bring the total workforce of Infineon in Ireland to over 300, with the company committing to further expand its presence in the country. The investment will see the expansion of R&D facilities in bo...
    Canadian graphite supplier NMG closes $50 million in tranche-1 investment from GM, Panasonic
    Canadian graphite supplier Nouveau Monde Graphite Inc. (NMG) announced Feb. 28 that it has successfully raised the equity investment of $50 million in accordance with the subscription agreements signed with Panasonic Holdings Corp. and General Motors Holdings LLC on Feb. 14. NMG had announced on Feb. 15 that it signed deals with Panasonic and GM to supply both with graphite, a critical material used in producing battery anodes, from its Phase-2 operations in return for an equity investment of...
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