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    Recent earthquake in Taiwan put semiconductor industry to test
    Taiwan's semiconductor industry is a global powerhouse, home to industry leaders like Taiwan Semiconductor Manufacturing Co. (TSMC), MediaTek, United Microelectronics Corp. (UMC) and more. These companies are crucial contributors to the global supply of advanced semiconductor chips, which serve as vital components in numerous technological devices, including automobiles. On April 3, 2024, Taiwan was hit by the most powerful earthquake in 25 years, registering a magnitude of 7.4 off the island...
    Software-defined vehicles: An identity crisis for the industry?
    We are entering an era where vehicles will be defined by their software. Think of that statement. In isolation, it says a lot. Throughout the past hundred years or so, vehicles have largely been defined by their brand. Alfred Sloan built a whole company on this principle. Today, Carlos Tavares, with Stellantis, has built a house of brands that appeal to different parts of the market with varying degrees of overlap. The brand of car we drove defined who we were as people. Driving a Volvo defined ...
    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 ...
    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...
    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...
    Schaeffler plans to expand US operations with a new $230 million greenfield manufacturing plant
    Germany auto component supplier Schaeffler plans to expand its operations in the US by setting up a greenfield manufacturing facility focused on producing automotive electric mobility solutions, the company announced Feb. 26. Schaeffler plans to invest over $230 million in building the new manufacturing facility, which will be strategically located in Dover, Ohio, as well as future expansions in the state until 2032. As part of an agreement with the state of Ohio, US, and JobsOhio, th...
    Hyundai plans to commence production at Metaplant America in Q4 2024
    The US arm of South Korean automaker Hyundai Motor Co. plans to officially commence production operations at the Hyundai Motor Group Metaplant America (HMGMA) by the fourth quarter of 2024, with official opening of the facility targeted for the first quarter of 2025, Hyundai Motor America announced Feb. 26. The start of production was previously scheduled for the first quarter of 2025. The HMGMA is Hyundai Motor Group’s first dedicated electric vehicle mass production plant, located in Brya...
    Posco International expands Motor Core business with global production cluster plan
    Posco International, a subsidiary of Posco, has announced global expansion of its Motor Core business through the construction of new plants in Poland and Mexico. The company's new president, Lee Kye-in, has approved the expansion plan, which includes the establishment of a global production cluster for motor cores in five countries. The Polish plant, located in the city of Brzeg in southwestern Poland, will serve as a bridgehead for the Motor Core business in Europe and will be built on a 10...
    Valeo to build comfort and driving assistance systems' site in Jiading, Shanghai
    Valeo, a global automotive supplier, will build a new “comfort & driving assistance systems manufacturing and [research and development] site” mainly for the R&D site in China's Waigang Industrial Park, according to a WeChat press release on Feb. 22. The site will primarily focus on the development and production of autonomous driving cameras, Lidars, domain controllers and chip bonding. Covering an area of about 30,000 square meters with a total floor area of 58,596 squ...
    Lucid Motors to open engineering office in Southfield, Mich. – report
    Lucid Motors is planning to open an engineering and research office in Southfield, Mich., with a $10 million investment, The Detroit News reported Feb. 23. The company will go before the Michigan Economic Development Corp.'s Strategic Fund Board to request a $6 million performance-based grant to create over 250 jobs at the facility. Spokespeople for Lucid and the Michigan Economic Development Corp. declined to comment. Lucid, which is based in Newark, Calif., and has a production facility in Ari...
    UK invests £1.4 million in vehicle-to-everything project
    The UK government has allocated £1.4 million to support an electric heavy-goods vehicle (eHGV) project led by Kaasai Services and its consortium of partners, ZevHub and Project Better Energy, according to an article on Curent News dated Feb. 26. The project aims to demonstrate the potential of vehicle-to-everything (V2X) services, specifically focusing on load-balancing, frequency stabilization and resilience. The project is part of a larger £6.2 million investment by the government across ...
    Brembo begins construction on first production site in Thailand, invests €40 million
    Brembo, a leading global braking systems manufacturer, has begun constructing its first production site in Thailand, investing approximately €40 million. The new site in Rayong province, south of Bangkok, will manufacture braking systems for motorcycle manufacturers in the country, starting with European and US producers. The site is expected to employ about 150 people once it is fully operational. According to Daniele Schillaci, Brembo's CEO, the investment marks a significant step in the ...
    Hyundai Motor plans to invest $1.1 billion in Brazil by 2032, with focus on technology, green hydrogen
    South Korean automaker Hyundai Motor Group plans to invest more than $1.1 billion in Brazil by 2032 to focus on green hydrogen and other futuristic technologies, according to a press note released by the company on Feb. 23. Hyundai Motor Executive Chair Euisun Chung is currently visiting Brazil and has met with the country’s President Luiz Inácio Lula da Silva. President Lula, Vice President and Minister of Industry and Foreign Trade of Brazil Geraldo José Rodrigues Alckmin Filho, and ...
    Haomo raises over 100 million yuan in Series B1 to speed up autonomous driving commercialization
    Haomo.AI, a Chinese autonomous driving company, has raised over 100 million yuan (about $13.9 million) in a Series-B1 round funding from Chengdu Wufa Private Equity Fund Management, according to a press release on Feb. 21. This is the first investment in the autonomous driving sector after China's Lunar New Year holiday. The funds will be used to enhance research and development, and support the development of robotics in Wuhou district, Chengdu, Sichuan Province. Xie Yong, chairman of Che...
    Sumitomo Electric Wiring Systems opens its first plant in Tabasco, Mexico
    Sumitomo Electric Wiring Systems, a leading supplier to the automotive industry, has opened its first plant in Tabasco, Mexico, marking a significant milestone for the state. The plant is located in the Tabasco Business Center (TBC) Industrial Park in the municipality of Cunduacán, and represents an investment of over $10 million. During an event attended by the Governor of Tabasco Carlos Manuel Merino Campos, Executive Vice President of Sumitomo Electric Wiring Systems Shoji Takeuchi h...
    Volkswagen plans to invest $1 billion at its Puebla plant in Mexico to expand EV production
    Europe’s largest carmaker Volkswagen plans to invest $1 billion in a second round of investments at its existing plant in Puebla, Mexico, according to a news report published by the Mexico News Daily on Feb. 19. The report cited a joint announcement made by the company along with state government officials on Feb. 16. The second round of investment at Puebla is expected to help VW boost electric vehicle production, the report said, adding that the 300-hectare facility is VW's largest factor...
    Startup Point2 Tech secures $23 million Series B funding
    Point2 Technology, a provider of ultralow-power, low-latency mixed-signal system-on-chip (SoC) solutions for multiterabit interconnect, has secured $22.6 million in Series B funding from Bosch Ventures and Molex, with participation from other investors, according to a press release on Feb. 15. This round of funding validates the demand for Point2's technology in AI/machine learning data center applications and the potential to disrupt network interconnect in the automotive sector. The funding...
    Mitsubishi Corp. to set up car dealer network in India ‒ report
    Japanese trading house Mitsubishi Corp. will enter the car sales business in India in 2024, taking a stake of more than 30% in an Indian company that operates car dealerships in the South Asian nation, according to a Nikkei Asia report dated Feb. 19. Under the deal, TVS Mobility, a major car sales company in India, will spin off its car sales business, and Mitsubishi will take an interest of more than 30% in the new company. Mitsubishi's investment, which would take effect after it obtains...
    Ford opens new propulsion development laboratory in the UK
    Ford Motor Co. has opened a new propulsion development laboratory at its UK headquarters in Essex, the company announced Feb. 14. The £24 million facility was inaugurated by UK Transport Minister Anthony Browne Member of Parliament (MP) as part of a site-wide tour and hands-free, feet-free drive of the Ford Mustang Mach-E with BlueCruise, the company said. The company added that the minister saw electric vehicle powertrain components intensively tested with speeds and loads to accelerat...
    Ashok Leyland invests additional 5.37 billion rupees in EV arm Switch Mobility
    Ashok Leyland has invested an additional 5.37 billion rupees (about $64.7 million) in its electric vehicle arm Switch Mobility, with the majority of the funds going toward increasing its shareholding in Optare PLC, UK.  According to a company statement, Ashok Leyland's shareholding in Optare PLC has increased to 92.59% from 92.19% after the latest investment. In early December 2023, the company invested 6625.0 million rupees in Optare PLC, UK, through equity shares in the first tranche, ...
    BMW i Ventures invests in direct-to-device satellite connectivity service provider Skylo
    BMW i Ventures has invested $37 million in Skylo Technologies, a provider of direct-to-device satellite connectivity services, it said in a press release dated Feb. 13. The funding round also saw participation from Intel Capital, Innovation Endeavors, Samsung Catalyst Fund, Seraphim Space and Next47. Skylo’s solution enables always-on, always-connected communication for various industries, including consumer, automotive, agriculture, energy, transportation and more. Skylo has already launch...
    Murata plans to establish new R&D hub Moriyama Innovation Center in Shiga Prefecture, Japan
    According to a press release on Feb. 14, Murata Manufacturing has announced that it will establish the Moriyama Innovation Center as a new research and development hub located in front of Moriyama Station in Shiga Prefecture, Japan. Construction will begin in February 2024 and is expected to be completed in May 2026. The establishment of the Moriyama Innovation Center is aimed at bolstering Murata’s basic research, planning and design capabilities in both existing and new businesses. The es...
    Stellantis plans to add production capacity at its electric drive module plant in Hungary
    Stellantis N.V. plans to increase production capacity of electric drive modules (EDMs) by adding production at its Szentgotthard plant in Hungary, the company announced on February 12. It said that the vehicle manufacturer is investing €103 million at its Szentgotthard facility and the expanded capacity will see production in late 2026. The total investments include grants and contributions from the Hungarian government, it added. Apart from the said site, Stellantis has leveraged Tremer...
    AkzoNobel completes expansion of its largest powder coatings plant in Italy
    Leading paints and performance coatings maker AkzoNobel announced the complication of a major capacity expansion at its Powder Coatings site in Como, Italy, which the company says will help secure supply to customers across Europe, the Middle East, and Africa (EMEA). The company in a Feb.13 press release said a total of four new manufacturing lines are now operational following the €21 million project – two of them dedicated to automotive primers and two to architectural coatings. New bon...
    Continental plans to invest €150 million in Serbian plant
    In a strategic decision to expand its footprint in Serbia, German supplier Continental is making a fresh investment of €150 million which is likely to create an additional 1,500 jobs in the country. The new investment, announced on Feb. 12 will bolster the company’s production capacity and technology in Serbia. This development comes on the heels of the company's inauguration of a new factory in Novi Sad in 2023, which was built for €140 million, BNNBreaking reported on Feb.12. The stat...
    Toyota to invest in TSMC arm for second Kumamoto chip plant in Japan
    According to a report published by Nikkei Asia on Feb. 6, Toyota Motor will invest in Taiwan Semiconductor Manufacturing Co.'s (TSMC) Japanese subsidiary to fund the construction of a second chip plant in Japan's Kumamoto prefecture, the two companies. Existing investors, including Sony and Denso, will also make additional investments into the unit, Japan Advanced Semiconductor Manufacturing (JASM), TSMC confirmed. Toyota will hold a 2% stake in JASM, while Sony, Denso and TSMC will hold...
    Doowon Climate Control invests $30 million for automotive manufacturing facility in Georgia, US
    According to a press release by the State of Georgia on Feb. 6, Doowon Climate Control America, Inc., an auto parts manufacturer and supplier, will invest more than $30 million in a new manufacturing facility in Metter, creating 200 new jobs in Candler County located in the southeastern part of the U.S. state of Georgia. “Georgia's growth as a national leader in auto manufacturing continues to pay dividends for communities in all four corners of Georgia,” said Governor Brian Kem...
    TASARU Mobility Investments plans to acquire a minority stake in the BENTELER subsidiary HOLON
    BENTELER is set to secure a multimillion-dollar investment to expand its autonomous mover business, HOLON, through a minority stake acquisition by TASARU Mobility Investments, according to a press release on Feb. 7. TASARU Mobility Investments also signed a binding agreement to invest in the American tech company Recogni Inc. The BENTELER Group and TASARU have signed an agreement, subject to regulatory approvals. The investment will be used to advance the series development and industrializat...
    Lumax Cornaglia Auto Technologies open new propulsion components manufacturing facility in Pune, India
    Lumax Cornaglia Auto Technologies (LCAT), a joint venture between Lumax Auto Technologies and Cornaglia, has expanded its operations in India by opening a new manufacturing facility in Chakan, Pune, India, The Financial Express reported Feb. 7. The facility, spread across 250,000 square feet, is a one-stop solution for complete vehicle-level emission products requirements of automakers globally. The company made an initial investment of over 300 million rupees ($3.6 million). The facilit...
    Toyota to infuse another $1.3 billion at Kentucky, US, plant to add EV, battery-assembly capacity
    Japanese carmaker Toyota plans to invest an additional $1.3 billion at its flagship Kentucky, US, facility for future electrification efforts, including assembly of an all-new, three-row battery-electric sport utility vehicle (SUV) for the US market, the company announced Feb. 6. According to Toyota, the newly earmarked outlay brings the plant’s total investment to nearly $10 billion and reinforces the carmaker’s commitment to high-quality vehicles and long-term job stability. Toyota s...
    General Motors, LG Chem sign $19 billion cathode material supply deal
    South Korean battery-materials company LG Chem has signed a 25 trillion won (about $19 billion) deal with US carmaker General Motors to supply the latter with battery cathode materials, LG Chem announced Feb. 7. The new long-term supply contract follows a comprehensive agreement between the two companies in July 2022. This supply contract strengthens the cooperation between the two companies and specifies a portion of the agreed volume, LG Chem said. With the new cathode material supply co...
    Gestamp to set up new plant in Michigan, US, with a $42.5 million investment
    Spanish automotive metal supplier Gestamp has announced that it is planning to construct a new facility near the General Motors Orion plant in Michigan, US. The proposed plant will be spread across a 460,000-square-foot area in Macomb County, Mich. This facility would employ 390 workers and feed material directly to the GM Orion plant, GM Authority reported Feb. 6, quoting a report from Crain’s Detroit Business.  Once completed, the facility will feature up to 450,000 square feet of ma...
    ZF plans $500 million investment in US transmission plant
    ZF plans a $500 million investment in its Gray Court, SC, facility, a company press release stated on Feb. 6. Offering everything from traditional internal combustion engine (ICE) to e-mobility technologies, for both passenger car and commercial vehicle applications, ZF Gray Court is officially the company’s first North American flex manufacturing facility. The plan opened in 2010, and it continues growth through the introduction of high-quality and highly advanced technologies fo...
    Croatian autonomous vehicle startup Project 3 Mobility raises about €100 million
    Project 3 Mobility, a Croatian autonomous vehicle startup, has closed its Series A funding round, raising about €100 million from private investors to finance product development, according to a press release on Feb. 6. The investors in the Series A round included Tasaru Mobility Investments, a unit of Saudi Arabia's Public Investment Fund (PIF), joining existing investors in the startup that include South Korean automaker Kia and Croat EV maker Rimac Group. The startup is developing a f...
    Sonichem leads Innovate UK-funded consortium to develop sustainable, bio-based materials for auto industry
    Sonichem is leading a £600,000 Innovate UK-funded consortium to revolutionize the automotive industry with sustainable, bio-based materials, it said in a press release dated Jan. 30. The company began its Carbon-neutral Agroforestry-derived Resins to Materials for Automotive applications (CARMA) project in October 2023, in collaboration with an international consortium of industry leaders. The company received about £600,000 in funding through Innovate UK’s "Resource efficiency for materi...
    Škoda invests in new training facilities to enhance technical skills of workforce in robotics and automation
    Škoda Auto is investing approximately €1 million in new training facilities at its Kvasiny, Czech Republic, site to enhance the technical skills of its workforce in robotics and automation. The automaker said it is committed to broadening its technical training offering at its second-largest Czech site, with a focus on cutting-edge production processes and advanced training for employees. The investment includes state-of-the-art training facilities with two classrooms for theoret...
    Volkswagen plans to invest a further $1.8 billion in Brazil in next five years – report
    German carmaker Volkswagen said it will invest an additional 9 billion reais (about $1.83 billion) in its Brazilian business over the next five years and launch 16 new models, including hybrid and electric vehicles. The new investments would more than double Volkswagen's 2022–2028 Brazil investment plan to 16 billion reais and enable it to produce four more models than previously planned, including its first Brazil-made hybrids, a 100% electric model and a pickup truck, Reuters reported Feb...
    GAC Aion begins construction of its EV plant in Thailand
    GAC Aion, the electric vehicle unit of Chinese automaker GAC Group, has commenced the construction of its EV factory in Thailand, according to a news report published by CnEVPost on Jan. 31. The upcoming EV plant, which is GAC Aion’s first overseas production site, is located in Rayong province in Thailand's Eastern Economic Corridor (EEC). Citing a company statement, the report mentioned that GAC Aion broke ground at the site on Jan. 26 and plans to invest about $65 million in building the...
    Aco Tech, UTAR establish R&D lab to advance smart mobility in Malaysia
    Aco Tech and Universiti Tunku Abdul Rahman (UTAR) inaugurated a joint research and development lab dedicated to advancing smart mobility. The lab facilitates cutting-edge research on smart mobility solutions, leveraging advanced technologies such as AI, big data and cloud computing toward enhancing the safety and convenience of on-road travel, according to a press release on Jan. 31. The collaborative lab focuses on three key fields in the initial phase, i.e., vehicle-to-vehicle com...
    Continental to invest €13 million to enhance specialty tires manufacturing in Sri Lanka
    According to a press release on Feb. 1, Continental is expanding the global manufacturing footprint of its Specialty Tires business area in Sri Lanka. By further enhancing local preproduction capacities, its Kalatura, Sri Lanka, plant in future may produce material handling self-sufficiently. This ensures an optimized manufacturing process and limits cross-country dependencies in logistic supply chain. Continental will be investing about €13 million over the next three years, creating approxim...
    Continental inaugurates automated warehouse at Czech tire plant
    Continental has opened a fully automated high-bay warehouse at its tire production plant in Otrokovice, Czech Republic, according to a press release on Jan. 30. It has a storage capacity of more than 930,000 tires. With the facility, the premium tire manufacturer is centralizing its warehouses in the area of Otrokovice. As a result, Continental’s logistics processes could be further optimized while lowering CO2 emissions of its operations. The new warehouse is 43 meters high — which ...
    Redwood Materials breaks ground on its second battery materials plant in South Carolina, US
    Battery-materials recycling company Redwood Materials has officially broken the ground on its second factory in South Carolina, US, according to a news report published by Electrive on Jan. 29. The report cited Morgan Crapps, director of Public Affairs and Government Relations at Redwood Materials, who, in her post on LinkedIn a few days ago, had said, “we move one step closer to closing the loop and creating a circular supply chain for battery materials here in North America.” It...
    Vitesco Technologies announces €188 million investment in a plant in Czech Republic
    Vitesco Technologies, a leading manufacturer of modern drive technologies and electrification solutions, is ready to start operations at its new state-of-the-art manufacturing and automated logistics center in Ostrava-Hrušov, Czech Republic, by the end of 2024. The new plant is a significant step in sustainable mobility and the evolution of the Czech automotive sector. The company said in the initial phase, nearly 150 individuals will be employed at the plant. This is projected to grow to ov...
    Toyoda Gosei plans $60 million investment to boost production capacity in the US
    To increase the production capacity of its US subsidiaries, Toyoda Gosei Co. Ltd. plans to invest $59.9 million in TG Missouri Corp. and TG Kentucky LLC to boost growing sales of interior and exterior automotive parts in the key North American market. The company said that in the coming years, automakers are expected to introduce more diverse lineups of vehicle types, including battery-electric vehicles and others. With a view to this evolution in automobiles, Toyoda Gosei will establish a ne...
    Indian auto-component maker Rane Madras to build a new plant in Mexico
    Auto component supplier Rane Madras, a major manufacturer of steering and suspension products, and light metal casting components, said in a regulatory filing that it has floated a wholly owned subsidiary called Rane Automotive Components Mexico (RACM) in Aguascalientes, Mexico, in which it will invest $3 million-$6 million over the next 12–18 months, The Hindu reported Jan. 25. According to the company’s filling, RACM has bagged a maiden order for the supply...
    Continental announces $90 million investment in new hydraulic hose plant in Mexico
    German technology company Continental has announced the construction of its new hydraulic hose plant for industrial purposes. The planned investment is about $90 million and is one of the biggest investments for Continental’s Group Sector ContiTech in 2024, the company said in a press release on Jan. 26. This new facility will complement and increase Continental’s existing manufacturing capacities within Aguascalientes, Mexico, and will generate more than 200 jobs in its first stage....
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