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    IHS Markit launches 2021 OEM-Supplier Relations (SuRe) survey
    The automotive industry’s global survey of OEM-supplier relations has returned, giving tier-one suppliers the opportunity to express their views and opinions on their relationship with every major OEM from today (April 12). IHS Markit's unique SuRe (Supplier Relations) Index scores and ranks OE...
    12-Apr-2021 News OEM Purchasing Pinned
    Android’s grip tightens on automotive OS
    Android Automotive has taken the automotive headunit by storm. From its initial introduction in early 2017 until now, six global automakers across more than 10 brands have signed on, accounting for nearly one-fifth of all vehicles once fully rolled out. The significance of Android Automotive lies wi...
    Li-Cycle to establish Li-ion battery recycling plant in Arizona
    North America-based lithium-ion (Li-ion) battery resource recovery and Li-ion battery recycler, Li-Cycle Corp. has announced in a press release on 14 April, that the company will build its third commercial Li-ion battery recycling facility, in Gilbert, Arizona, US, within the Phoenix metropolitan ar...
    19-Apr-2021 News Investments
    Autonomous truck technology startup TuSimple raises USD1 billion through IPO
    TuSimple Holdings Inc., a self-driving truck technology startup company, has announced that it has raised gross proceeds of USD1.08 billion through an initial public offering (IPO). According to a press release issued by TuSimple on 15 April, the company stated that its common stock has commenced tr...
    19-Apr-2021 News Investments
    Asahi Kasei relocates European headquarters to Düsseldorf, Germany
    Asahi Kasei Europe has relocated its office and research and development (R&D) functions to its new base at Düsseldorf Harbor in Germany, according to a company press release on 13 April. The new headquarters includes office spaces, a showroom for automotive materials and an R&D center, whi...
    Posco to set up new lithium refining plant in Gwangyang, South Korea
    South Korean steelmaker POSCO anounced plans to build a plant in South Korea to extract lithium hydroxide, which is a key material for electric vehicle (EV) batteries, Yonhap News Agency reported on 14 April. POSCO’s board of directors have approved the plan to build a plant in the southern indust...
    16-Apr-2021 News Investments
    Polestar raises USD550 million to fuel product expansion
    Sweden-based electric performance carmaker, Polestar, has announced that it has raised USD550 million from its long-term financial investors. According to a press release issued by Polestar on 15 April, this private placement of newly issued shares marks the first time external investors have backed...
    16-Apr-2021 News Investments
    Mahindra to invest USD400 million in EV business over 3 years
    Indian carmaker Mahindra & Mahindra (M&M) has announced that it will be making fresh investments of INR3,000 crores (approximately USD400 million) in its electric vehicle (EV) business line over the next three years. According to a report filed by news publication Busines...
    15-Apr-2021 News Investments
    Rimac to open new headquarters in Zagreb, Croatia
    Croatian high-performance EV manufacturer, Rimac Automobili, has announced that it will be establishing its new headquarters on the outskirts of Zagreb, Croatia. According to a press release issued by Rimac on 12 April, this new facility will include an on-site test track, accommodation, and museum,...
    14-Apr-2021 News Investments
    Multiple US labs work together to introduce HT-PEM fuel cells
    Los Alamos National Laboratory, Advent Technology Holdings Inc., Brookhaven National Laboratory, and the National Renewable Energy Laboratory (NREL) will work over the next few years to bring to market high-temperature proton exchange membrane (HT-PEM) fuel cells to convert hydrogen and other renewa...
    GS Yuasa to expand HEV battery production capacity in Japan
    The Japanese battery supplier GS Yuasa plans to double its production capacity for lithium-ion (Li-ion) batteries in Japan, according to a report by electrive.com on 12 April. To this end, the company’s subsidiary Blue Energy is strengthening its production lines in Kyoto and building a second pla...
    14-Apr-2021 News Investments
    EVLOMO, PTT Oil and Retail Business launch their first DC Fast charging station in Thailand
    EVLOMO and PTT Oil and Retail Business PLC have launched their first DC Fast charging station at PTT Station, in Ban Chang, Rayong, Bangkok, Thailand, according to a company press release on 12 April. Significance: EVLOMO will install over 1,000 new fast chargers to push electric vehicle (EV) ado...
    13-Apr-2021 News Investments
    Battery Resourcers completes USD20 million Series B funding round
    Battery Resourcers, a vertically integrated lithium-ion (Li-ion) battery recycling and manufacturing company based in the United States completed a USD20 million Series B equity round with financing led by Orbia Ventures, the venture capital arm of the multinational Orbia, according to a company pre...
    13-Apr-2021 News Investments
    STS Group to invest USD39 million to build new Wytheville, US facility
    Germany-based automotive interior and exterior parts supplier STS Group AG is investing USD39 million to establish a manufacturing facility in Wytheville, Virginia, US, according to a report by Plastics News on 12 April. The plant is expected to create 120 jobs in the region. Construction on the new...
    13-Apr-2021 News Investments
    AK Automotive to invest USD23.8 million to expand car parts factory in Slovenia
    AK Automotive plans to invest EUR20 million (USD23.8 million) to expand its car parts factory in Koper, Slovenia, according to a report by SeeNews on 12 April. AK Automotive intends to build a new production unit spreading on 2,000 square meters of area to produce car parts and chassis parts. Sig...
    13-Apr-2021 News Investments
    Novares breaks ground on new plant in Shenyang, China
    Novares broke ground on expansion of Shenyang plant in mainland China, which will increase the site’s capacity by 15 production lines, according to a company press release on 9 April. The expansion is expected to be completed on 31 October 2021, bringing the total land area of the Shenyang site to...
    13-Apr-2021 News Investments
    Comau provides battery manufacturing line for UK Battery Industrialization Centre
    Comau has been selected by the UK Battery Industrialisation Centre (UKBIC) to develop and deploy a semi-automated battery module and battery pack assembly line for the publicly-funded ‘open-access’ battery production development facility, according to a press release on 8 April 2021. The facilit...
    Manz, GROB form strategic partnership for Li-ion battery systems
    Manz AG and GROB-WERKE GmbH & Co. KG have entered into a cooperation in the field of lithium-ion (Li-ion) battery systems, according to a company press release on 8 April 2021. As part of the partnership, the companies plan to set machine standards "made in Europe". From now on, the companies wi...
    12-Apr-2021 News Investments
    Nidec to open e-motor production facility in Serbia
    Japan-based Nidec Corporation will open a new factory in the city of Novi Sad in the Republic of Serbia, according to a company press release on 9 April. The new Nidec Electric Motor Serbia LLC will make automotive motors and related products, employing some 1,000 people. The new Nidec Elesys Europe...
    12-Apr-2021 News Investments
    FLEETCOR invests in Mina, UK for charging solutions
    FLEETCOR Technologies, Inc., a global business payments company, has announced a minority investment in Mina, a cloud-based digital software platform that simplifies charging and payments management for commercial fleets with electric vehicles (EVs), FLEETCOR said in a press release on 8 April. ...
    Faraday Institution commits additional USD31 million for battery research
    The Faraday Institution has announced a GBP22.6 million (USD31 million) investment for battery research, according to a company press release on 30 March. This includes research on extending battery life, battery modeling, recycling and reuse, and solid-state batteries. Research in these areas ...
    09-Apr-2021 News Investments
    Hirschmann Automotive expands operations in Mexico, US
    Hirschmann Automotive announced that it has established a test laboratory in Mexico where validations are carried out locally, according to a company press release on 2 April. Hirschmann Automotive also opened a sales and research and development (R&D) office in Detroit, United States. Signif...
    09-Apr-2021 News Investments
    Hyundai TRANSYS Georgia Seating System invests USD9 million in Georgia, US
    Hyundai TRANSYS Georgia Seating System, LLC, a producer of automotive parts, will invest USD9 million to expand its seating manufacturing operations in West Point, Georgia, US, according to a press release on the official website of Georgia Department of Economic Development on 5 April 2021. "We ...
    09-Apr-2021 News Investments
    Xpeng to establish new EV production plant in Wuhan, China
    Chinese EV maker, Xpeng Inc., has announced that it has entered into a cooperation agreement with the city of Wuhan in China to build a new XPeng Motors Wuhan smart EV manufacturing base. According to a press release issued by Xpeng on 8 April, XPeng will commence the construction of the new manufac...
    09-Apr-2021 News Investments
    Continental to expand production operations in Timișoara, Romania
    Germany-based Continental has purchased a new building in Timișoara, Romania to expand operations in the country. According to a company press release on 7 April 2021, the new building includes the production hall and offices located on Otto Rudolf Street, in the Freidorf Timișoara Industrial Park...
    08-Apr-2021 News Investments
    Draexlmaier opens new plant in North Macedonia
    German car parts manufacturer Draexlmaier has opened a new production plant in Kumanovo, in the northern part of North Macedonia, according to a report by SeeNews on 6 April. The value of the investment is in the "double-digit million" range, according to the report citing a company statement. The n...
    07-Apr-2021 News Investments
    Hercules Electric Vehicles opens USD20 million Series A funding round
    Detroit-based Hercules Electric Vehicles, which is developing an all-electric luxury pickup truck, has announced opening a USD20 million Series A funding period to help bring the vehicle to market in late 2022. The company is developing an all-electric sport pickup truck named Hercules Alpha with mo...
    06-Apr-2021 News Investments
    Genesis enters Chinese market, unveils G80 and GV80 models
    Global luxury automotive brand Genesis marked its official entry into China at Shanghai's International Cruise Terminal. The distinctive Genesis design philosophy was showcased with an unveiling of the Genesis G80, its mid-sized luxury sedan, and Genesis GV80, the first SUV in the lineup. Jaehoon...
    06-Apr-2021 News Investments
    Plug Power, Chart Industries, Baker Hughes consider investing in FiveT Hydrogen Fund
    Plug Power, Chart Industries, and Baker Hughes have announced their intention to become investors in the formation of the FiveT Hydrogen Fund, according to a company press release on 5 April. Plug Power intends to commit EUR160 million (USD200 million), and Chart Industries and Baker Hughes each int...
    06-Apr-2021 News Investments
    Ways2H, Japan Blue Energy complete hydrogen fuel facility in Tokyo
    Renewable hydrogen systems manufacturer Ways2H Inc. and its shareholder and technical partner Japan Blue Energy Co. have announced the completion of a manufacturing facility in Tokyo, Japan, that will convert sewage sludge into renewable hydrogen fuel, according to a Green Car Congress report. The p...
    06-Apr-2021 News Investments
    Volkswagen invests additional USD100 million in QuantumScape for solid-state battery tech
    QuantumScape has announced it has successfully met the technical milestone that was a condition to close the investment of an additional USD100 million by Volkswagen Group of America Investments, LLC into the company, according to an Securities and Exchange Commission (SEC) filing on 31 March. This ...
    06-Apr-2021 News Investments
    Toyota Motor Corporation invests in e-Mobility Power Inc.
    e-Mobility Power, Inc., the equity holders of which are Tokyo Electric Power Company Holdings (TEPCO HD) and Chubu Electric Power Co., Inc. entered into an absorption-type corporate division agreement with Nippon Charge Service, LLC on 5 February. According to a press release issued by Toyota on 5 A...
    06-Apr-2021 News Investments
    Eberspaecher to open new manufacturing plant in Louisville, Kentucky, US
    Germany-based automotive thermal components supplier, Eberspaecher, has announced that it will be investing USD34.4 million to establish a new manufacturing facility in Louisville, Kentucky, US. According to a press release issued by the Cabinet for Economic Development, Kentucky state, on 29 March,...
    06-Apr-2021 News Investments
    Bosch subsidiary, ETAS, expands embedded software center in UK
    ETAS has signed an agreement with the UK Government to expand the software center in the city of York, it said in a press release on 29 March. The Bosch unit will make an undisclosed yet significant investment to expand the center of excellence. “We have decided to expand this centre in York fo...
    05-Apr-2021 News Investments
    UK Government to invest over GBP30 million for battery technology, hydrogen vehicles
    On March 30, the UK Government announced a GBP30 million funding in research of battery technology, the electric vehicle (EV) supply chain and hydrogen vehicles. Around GBP9.4 million will be spent on 22 studies to develop innovative automotive technology, including hydrogen...
    05-Apr-2021 News Investments
    Startup Odyssey Semiconductor raises USD5 million to develop GaN power devices for EVs
    Odyssey Semiconductor Technologies has raised USD5 million in a common stock private placement, the company said in a press release on 1 April. The funding will allow the startup to develop high-voltage vertically conducting gallium nitride (GaN) power-switching devices. “We welcome the new sha...
    05-Apr-2021 News Investments
    Rheinmetall subsidiary to establish tech center for pistons in Nanjing, China
    Rheinmetall’s subsidiary KS Kolbenschmidt GmbH and its cooperation partners, including auto parts maker ZYNP Corporation and Riken Corporation, have joined forces to open a tech center in Nanjing, mainland China, Rheinmetall announced in a press release on 1 April 2021. The new ‘United Tech Cent...
    05-Apr-2021 News Investments
    KelRide on-demand shared ride service obtains EUR10.9 million funding from German government
    The German Federal Ministry of Transport and Digital Infrastructure officially approved a EUR10.9 million funding to KelRide, a project that will introduce an autonomous, on-demand transport service in the Kelheim district, north of Munich. For the first time in Germany, fully automated buses would ...
    02-Apr-2021 News Investments
    Sumitomo Corp. invests in US-based hydrogen fuel provider Oneh2
    Sumitomo Corporation of Americas, a subsidiary of Sumitomo Corporation, has announced an investment in OneH2, a hydrogen fuel company headquartered in Longview, North Carolina, according to a company press release on 27 January 2021. OneH2 is a hydrogen production and distribution company providi...
    02-Apr-2021 News Investments
    Updated MINI app to be launched in 21 countries worldwide
    The MINI App—first introduced in July 2020 and launched in 33 markets (mainly in Europe), has been updated and now made available in the United States, Russia, Japan, Australia, and 17 other countries, and will be offered in Mainland China from April 2021, according to a company press release...
    01-Apr-2021 News Investments
    Radici Group invests USD40 million in high-performance polymers plants worldwide
    The RadiciGroup High Performance Polymers Business Area is investing over EUR35 million (USD40 million) to add to its global production capacity with new construction and installations in North America, Europe, and mainland China, according to a company press release on 31 March. Significance: ...
    01-Apr-2021 News Investments
    Teijin Ltd., Applied EV team up to develop LS-EV prototype with polycarbonate resin glazing
    Teijin Limited has announced that together with Applied Electric Vehicles (Applied EV) it has developed a highly energy-efficient low-speed electric vehicle (LS-EV) prototype for autonomous driving systems and other mobility applications for zero-emission mobility, according to a company press relea...
    Pirelli’s aims to invest USD833–856 million for technological and productivity upgrade in 2021–22
    Pirelli has launched the 2025 Industrial Plan with new plans for production and technology upgrades, according to a company press release on 31 March. According to the plan, the company plans to invest EUR710–730 million (USD833–856 million) in the two-year period of 2021–22 for technological ...
    01-Apr-2021 News Investments
    MAHLE opens new test center in Germany for fuel cells
    MAHLE has opened a new test center in Stuttgart, Germany for fuel cells. According to a company press release on 30 March 2021, the company has the new test center for hydrogen applications into operation on a 1,400-square-meter, site in Stuttgart. The company has invested around EUR2 million (USD2....
    31-Mar-2021 News Investments
    Minda Industries’ subsidiary to expand alloy wheel production capacity in India
    Minda Industries, flagship company of UNO MINDA Group, has announced that its subsidiary, Minda Kosei Aluminum Wheel Private Limited, will expand its four-wheeler alloy wheel capacity in India, according to company filing with BSE on 27 March. The capital expenditure for the capacity expansion will ...
    31-Mar-2021 News Investments
    Lumax Industries to establish new plant in Gujarat, India
    Lumax Industries has announced that the company will invest INR800 million (USD10.9 million) to open a new manufacturing plant in Sanand, Gujarat, in India, according to BSE filing by the company on 26 March 2021. The company has not provided further details including products to be produced at...
    31-Mar-2021 News Investments
    LANXESS to produce electrolyte formulations for Li-ion batteries from 2022
    LANXESS is entering the field of battery chemistry by cooperating with Guangzhou Tinci Materials Technology Co. (Tinci), a lithium-ion (Li-ion) battery materials manufacturer based in mainland China, according to a company press release on 30 March. Starting next year LANXESS will produce electrolyt...
    31-Mar-2021 News Investments
    Nokian Tyres increases passenger car tire production capacity at Finnish factory by 30%
    Nokian Tyres plc is increasing its production capacity for passenger car tires at its Finnish factory by about 30% by starting to run in four shifts, according to a company press release on 29 March. The capacity increase is expected to warrant an approximate increase of 70 new people in Nokia, Finl...
    31-Mar-2021 News Investments
    Chinese supplier Senior Technology Material to invest USD288 million in production facility in Sweden
    Shenzhen Senior Technology Material has announced plans to invest SEK2.5 billion (USD288 million) to establish a production facility at Svista industrial estate in Eskilstuna, Sweden, Business Sweden reported on 25 March. The planned investment, Senior Technology’s first outside mainland China, wi...
    30-Mar-2021 News Investments
    Minda Industries to set up new lighting plant in Gujarat, India
    Minda Industries will set up a new lighting manufacturing plant at Bhagapura, Gujarat in India to address rising demand for four-wheeler automotive lighting, according to a regulatory filing on 27 March. to this end, the company plans to invest INR896.9 million (USD12 million). The plant is expected...
    30-Mar-2021 News Investments
    SK Innovation to invest USD1 billion to build EV battery separator plants in Poland
    SK IE Technology, a material business subsidiary of South Korean petroleum firm, SK Innovation, has announced that it is investing KRW1.13 trillion (approximately USD1 billion) to build two electric vehicle (EV) battery separator plants in Silesia, Poland. The reason for this large-scale investment ...
    30-Mar-2021 News Investments
    Toyota Woven Capital invests in AV startup Nuro’s Series C funding round
    Woven Capital, L.P., a USD800 million global investment fund that supports growth-stage companies in mobility, made an equity investment in Nuro, a robotics company providing autonomous delivery. This marks the first investment from Woven Capital, which was established in January 2021 as the investm...
    29-Mar-2021 News Investments
    Lidar startup Baraja raises USD30.7 million in new funding round
    Baraja has raised AUD40 million (USD30.7 million) in a new funding round, Australia-based lidar sensing technology startup said in a press release on 24 March. The latest funding round was led by existing investor Blackbird Ventures and and saw participation from new investors including Hitachi Cons...
    29-Mar-2021 News Investments
    Faraday Future raises USD100 million following SPAC merger agreement
    Faraday Future, a California-headquartered global shared intelligent mobility ecosystem company, announced that it has raised approximately USD100 million in debt financing commitments led by Ares, along with existing lender Birch Lake and other lenders joining the debt financing round. According...
    29-Mar-2021 News Investments
    MAHLE to invest USD14.19 million in five new testing and development facilities worldwide
    Automotive powertrain and electromobility components supplier, MAHLE Powertrain, has announced that it is investing EUR12 million (approximately USD14.19 million) in the construction of five new testing and development facilities. According to a press release issued by MAHLE on 24 March, the company...
    25-Mar-2021 News Investments
    Volkswagen partner Gotion High-Tech to set up battery recycling plant in Hefei, mainland China
    Volkswagen’s Chinese battery partner Gotion High-Tech has announced plans to invest a total of USD1.8 billion in the construction of battery recycling and raw material production facilities for lithium-ion (Li-ion) batteries in Hefei city, reports electrive.com. The company expects to complete the...
    24-Mar-2021 News Investments
    Valmet setting up battery assembly facility in Kirchardt, Germany
    Finnish supplier Valmet Automotive has announced a new battery assembly in Kirchardt, Germany. According to a company press release on 23 March 2021, it will be the company’s first battery factory in Germany. The new company expects to start pre-series production of complete battery systems for el...
    24-Mar-2021 News Investments
    Continental Engineering Services expands presence in Europe with three new facilities
    Continental Engineering Services (CES), a subsidiary of Germany-based automotive supplier Continental, has announced plans to establish three new sites in the United Kingdom, Germany, and Italy, the company said in a press release on 18 March. The company’s new facility in Burgess Hill, the UK, wi...
    23-Mar-2021 News Investments
    CBAK Energy signs MOU with Hydrogen Energy Company to develop hydrogen fuel cells
    Chinese lithium-ion (Li-ion) battery manufacturer and electric energy solution provider, CBAK Energy Technology has signed a memorandum of cooperation with an unnamed, leading European hydrogen energy group with 100 years of operation history to promote the development of hydrogen fuel cells, accord...
    Porsche to begin trials of synthetic fuels in 2022
    Porsche sports car head Frank Walliser has said that the automaker is looking to begin trials of its own synthetic fuel in 2022, that will be compatible with unmodified combustion engines, according to a report by Autocar on 16 March. Speaking ahead of the unveiling of the new 911 GT3, Walliser a...
    23-Mar-2021 News Investments
    Faurecia starts construction of manufacturing facility in France
    France-based automotive parts supplier Faurecia has announced the construction of a new industry 4.0 platform in the Bourgogne-Franche-Comté region of France, according to a company press release on 19 March. The company is investing a total of EUR165 million (USD196.5 million). The project will no...
    23-Mar-2021 News Investments
    Volkswagen to deliver over 450,000 electric vehicles to customers in 2021
    Volkswagen (VW) has announced that it will deliver over 450,000 electric vehicles (EVs) to customers in 2021, more than double the 2020 figure. With its new ACCELERATE strategy, VW will be piloting a subscription model for the ID.3 in six German cities, to test the acceptance of use-based billi...
    19-Mar-2021 News Investments
    UK government further slashes subsidies on electrified vehicles
    The UK government has updated the grant scheme for electric cars, vans, and trucks to target less expensive models, according to a press release on 18 March. From 18 March 2021, the government will provide grants of up to USD3,486 (GBP2,500) for electric vehicles (EVs) priced under USD49,505 (G...
    Porsche to produce high-performance batteries with silicon anodes
    Porsche is looking into high-performance batteries with silicon instead of graphite anodes to achieve higher energy density and better fast-charging capability, according to a company press release on 16 March. The new batteries will be produced in limited volumes in Europe for high-performance vehi...
    19-Mar-2021 News Investments
    Asahi Kasei to ramp up LIB separator production capacity in Japan
    Asahi Kasei has announced that the company will increase production capacity for Hipore™ Li-ion battery (LIB) separator at its plant in Hyuga, Miyazaki, Japan, according to a company press release on 15 March. The Japanese supplier is investing JPY30 billion (around USD275 million) to expand capac...
    19-Mar-2021 News Investments
    Volvo invests in Israeli EV charging software company, Driivz
    Swedish automaker Volvo Group Venture Capital AB has invested in Israel-based EV charging software company, Driivz Ltd. According to a press release issued by Volvo on 16 March, a joint pilot project between Volvo Trucks, the Volvo Group and Driivz is ongoing with the aim of developing and testing n...
    18-Mar-2021 News Investments
    UK government commences work at hydrogen transport hub
    The UK government has unveiled the master plan for “the first-ever hydrogen transport hub,” and also announced the investment of USD4 million in funding, according to the company press release on 17 March. The hub is being built in Tees Valley and is expected to be fully operational by 2025. The...
    18-Mar-2021 News Investments
    EV startup Arrival to build second US Microfactory in Charlotte, NC
    US-based commercial EV maker Arrival has announced that it will be building its second US Microfactory in Charlotte, North Carolina, US, according to a company press release on 17 March. This Microfactory will produce electric delivery vans for UPS and is expected to create over 250 new jobs in Char...
    18-Mar-2021 News Investments
    Freudenberg Sealing Technologies expands material testing capabilities in US
    Freudenberg Sealing Technologies has expanded its material testing capabilities to include performance and compatibility evaluations for materials used to seal and maintain lithium-ion (Li-ion) batteries, according to a company press release on 16 March. The company has installed advanced equipment ...
    17-Mar-2021 News Investments
    Volkswagen, bp to work together on expediting deployment of ultra-fast EV charging facilities across Europe
    Volkswagen and bp have announced that they intend to work together on extending and expediting the deployment of ultra-fast electric vehicle (EV) charging facilities at bp retail sites across the United Kingdom, Germany, and the rest of Europe, according to a company press release on 15 March. The a...
    thyssenkrupp Steel announces investing in sheet steel plants to improve material quality
    As part of its Strategy 20-30, thyssenkrupp Steel is investing in its manufacturing facilities to improve the surface quality of premium sheet steel, according to a company press release on 11 March. The company has placed an order for two new walking beam furnaces for the revamped hot strip mill 4 ...
    16-Mar-2021 News Investments
    MAHLE plans to more than double actuator production to 6 million units
    MAHLE plans to increase annual production of actuators from a current 2.5 million units to 6 million units by 2025, according to a company press release on 15 March. Significance: MAHLE is one of the world’s largest manufacturers of mechatronic actuators for automotive applications. Particularl...
    16-Mar-2021 News Investments
    Startup CerebrumX completes Series A financing round led by LG Technology Ventures and Cerence
    CerebrumX has closed a Series A funding round led by LG Technology Ventures with participation by Cerence, the startup said in a press release dated 4 March. CerebrumX plans to use the funds by investing in research and dveleopment (R&D), cloud infrastructure, and an onboarding ecosystem partner...
    16-Mar-2021 News Investments
    Dow plans USD250 million to build South China Specialties Hub for polyurethane production
    Dow has signed a memorandum of understanding (MoU) with the Zhanjiang Economic and Technological Development Zone Administrative Committee (Zhanjiang EDZ) in mainland China, to build the Dow South China Specialties Hub according to a company press release on 4 March. The company plans to invest USD2...
    16-Mar-2021 News Investments
    Geely to invest USD4.6 billion in new EV battery plant in mainland China
    Mainland Chinese vehicle manufacturer, Geely, has said that it will be setting up an electric vehicle (EV) battery factory with a planned annual manufacturing capacity of 42 GWh in mainland China. According to a report filed by business news agency Reuters on 15 March, this facility will be located ...
    16-Mar-2021 News Investments
    German supplier KIRCHHOFF Automotive to invest UDS15 million in assembly facility in US
    Germany-based automotive supplier, KIRCHHOFF Automotive is investing USD15 million to open an assembly facility in Lawrenceville, Georgia, US, according to a press release on 8 March from Georgia Department of Economic Development (GDEcD). The project is expected to create 73 new jobs in Gwinnett Co...
    15-Mar-2021 News Investments
    BMW invests in CO2-free steel production method developed by Boston Metal
    The BMW Group is investing in a method for carbon dioxide (CO2)-free steel production developed by American startup Boston Metal, through its venture capital fund, BMW i Ventures, according to a press release on 12 March. Moving forward, Boston Metal plans to industrialize the new method for steel p...
    15-Mar-2021 News Investments
    Kumho Tires plans USD297.8 million investment to nearly double capacity at Vietnamese plant
    Kumho Tire under ownership of China’s Doublestar Tyre has pledged USD297.8 million to nearly double the capacity at its tire plant in Vietnam to sustain exports to North America while avoiding hefty US tariffs, according to a regulatory filing. The company’s Chinese owner Doublestar also plan...
    15-Mar-2021 News Investments
    Lightyear raises USD48 million in new funding round led by Zero Point Holding
    Solar EV company, Lightyear has successfully raised USD48 million in its latest funding round led by Zero Point Holding, an investment vehicle of a Swiss family, according to a company press release on 12 March. This is the Lightyear’s largest financing till date. Lightyear is also working on addi...
    15-Mar-2021 News Investments
    VinFast plans to set up EV manufacturing plant in US
    Vietnam-based electric vehicle startup, VinFast, has announced plans to open a factory in the United States. According to a report published by news agency Bloomberg on 2 March, the company has set up a research office in San Francisco employing 50 staff members. VinFast is preparing to commence ele...
    15-Mar-2021 News Investments
    India-based Sandhar Technologies to open production facility in Romania
    Indian autoparts supplier Sandhar Technologies will establish a new facility in Romania to produce diecast aluminium components for car wipers and seat belt retractor spindles, Profit.ro reported on 10 March. The company has established a branch in Bucharest, Sandhar Technologies RO, through its Spa...
    12-Mar-2021 News Investments
    HELLA opens new development center in Romania for software and electronics
    HELLA has opened a new test and development center at the Craiova site in Romania, Germany-based lighting and electronics supplier said in a press release on 10 March 2021. The new building in Craiova offers approximately twice as much space as the previous premises. With this step, HELLA is creatin...
    12-Mar-2021 News Investments
    Continental plans to invest USD178 million in Romania in 2021
    Continental invested EUR150 million (USD178 million) in Romania in 2020, SeeNews reported the company saying in a statement on 11 March. The German supplier will invest similar amount at its manufacturing facilities and research and development (R&D) centers in 2021.   Significance: All ...
    12-Mar-2021 News Investments
    LG Energy Solution plans USD4.5 billion investment to expand EV battery production in US
    LG Energy Solutions will invest more than USD4.5 billion in expanding its own battery business in the United States by 2025, the company said in a press release on 11 March. The investment will help the South Korean company to expand its EV battery production capacity by 70-GWh and create over 10,00...
    12-Mar-2021 News Investments
    LG Energy Solution aims to build EV battery cells for Tesla in 2023
    LG Energy Solution is looking to build advanced battery cells for Tesla EVs in 2023 and is considering potential production sites in the United States and Europe, according to a report from Reuters quoting two people familiar with the matter on 10 March. However, Tesla is yet to agree to the deal th...
    10-Mar-2021 News Investments
    Stratus Plastics expands operations at US plant for automotive application
    Canada-based injection molding company, Stratus Plastics International is expanding production at its manufacturing plant in Morgantown, Kentucky, US, and adding 40 new jobs there, according to a report by Canadian Plastics on 9 March. The expansion and hiring comes on the back of increased demand a...
    10-Mar-2021 News Investments
    Webasto to set up new sunroof manufacturing plant in India
    Webasto plans to establish a new manufacturing plant in India to produce sunroof systems, Times News Network (TNN) reported on 8 March. The Germany-based automotive supplier will invest INR2.5 billion (USD34.1 million) in the new plant that will come up in Pune, Maharashtra. The investment will be d...
    09-Mar-2021 News Investments
    Continental inaugurates new plant in Serbia
    German auto parts manufacturer Continental has inaugurated its new plant in Novi Sad, in northern Serbia, according to a press release on the official website of Republic of Serbia on 7 March. The company invested EUR140 million (USD166 million) in car electronics factory in Novi Sad. The plant will...
    09-Mar-2021 News Investments
    Eberspaecher opens plant for exhaust technology in Mexico
    Eberspaecher has opened a new plant for exhaust technology in Ramos Arizpe close to Saltillo, Mexico, the German automotive supplier said in a press release on 5 March 2021. The plant spanning across an area of 21,000 square meters, with about 90% of the total area of the plant dedicated to producti...
    09-Mar-2021 News Investments
    Porsche increases stake in high-performance EV startup Rimac to 24%
    The Supervisory Board of Germany-based sportscar manufacturer, Porsche AG, has agreed to increase its stake in Rimac Automobili from 15% to 24%. According to a press release issued by Porsche on 8 March, the company joined Rimac as an investor in 2018 and raised its stake to 15% in September 2019. T...
    09-Mar-2021 News Investments
    Mercedes-Benz to upgrade Germany’s Untertürkheim plant for electric drives and battery technology
    German luxury car manufacturer, Mercedes-Benz, has announced that it is transforming its Mercedes-Benz Drive Systems unit and its Stuttgart-Untertürkheim site for an “Electric First” future in the context of Ambition 2039–the company’s strategy toward carbon neutrality. According to a pr...
    08-Mar-2021 News Investments
    Sibanye-Stillwater partners with Keliber to enter EV battery metals sector
    Sibanye-Stillwater has entered into an investment agreement with Keliber Oy (“Keliber”) according to a press release from the company on 23 February 2021. The investment is expected to be implemented in March 2021, subject to the approval by the South African Reserve Bank. The focal point of the...
    08-Mar-2021 News Investments
    Mercedes-Benz AMG breaks ground for new technology center in Affalterbach, Germany
    Mercedes-Benz AMG broke ground on new technology center in Affalterbach, Germany for the development of electrified high-performance powertrains and electrical components, the automaker announced in a press release on 4 March. The new Technikum tech center spanning over an area of 5000 square meters...
    General Motors, LG explore setting up second battery plant in US
    General Motors (GM) and LG Energy Solutions, through their joint venture (JV) Ultium Cells LLC, are exploring plans setting up a second battery plant in the United States, Reuters reported on 4 March, citing a confirmation from GM. According to the report, the companies are in talks with Tennes...
    05-Mar-2021 News Investments
    Bethel Automotive Safety Systems to open new plant in Mexico
    China-based Bethel Automotive Safety Systems is planning to open a new plant in Saltillo, Mexico, according to a report by Mexico Now on 1 March. The company plans to invest USD48 million in new plant, which is expected to generate 550 new jobs. Significance: In the phase 1, the company will manu...
    05-Mar-2021 News Investments
    Mercedes-Benz investing double-digit million amount to upgrade Berlin-Marienfelde plant in Germany
    Mercedes-Benz is investing a double-digit million amount to transform its Berlin-Marienfelde plant in Germany into a campus for developing, testing, and implementing pioneering software applications for its global production network. According to a press release issued by Mercedes-Benz on 3 March, t...
    04-Mar-2021 News Investments
    Morrow Batteries to set up new battery industrialization center in Norway
    Morrow Batteries is planning to set up a new battery industrialization center in Norway, the company announced in a press release in February. Morrow Batteries aims to start building the industrialization center later in 2021. The location is yet to be decided, but is expected to be located somewher...
    04-Mar-2021 News Investments
    Heritage to setup battery recycling plant in US
    In late 2020, US-based Heritage Group established a new division, Heritage Battery Recycling (HBR), to tap growing market for lithium-ion (Li-ion) batteries recycling. In February, HBR partnered with Romeo Power to develop a battery reuse and recycling facility in the United States. “By working...
    04-Mar-2021 News Investments
    EDAG begins construction of new test center in Munich, Germany
    The EDAG Group, an engineering service provider for the mobility industry, has begun construction a new test center at the ‘Waldmeisterstraße’ site in Munich, Germany, according to a company press release on 2 March 2021. The center is expected to be completed in the coming months. EDAG's 140 E...
    03-Mar-2021 News Investments
    EVLOMO plans USD50 million investment to establish EV charging network in Thailand
    EVLOMO, Inc., a Florida-based company working in the EV sector has planned to roll out a network of over 1,000 EV chargers across Thailand over the next five years. According to a press release issued by EVLOMO on 2 March, the company will do this through its affiliate in Thailand, EVLOMO Technologi...
    03-Mar-2021 News Investments
    Hyundai breaks ground on fuel cell system plant in mainland China
    Hyundai has broken ground on a new fuel cell system in Guangzhou, mainland China, the company announced in a press release on 2 March. The construction of the HTWO Guangzhou plant is expected to be completed in the second half of 2022 and will have an annual production target of 6,500 units initiall...
    02-Mar-2021 News Investments
    Foxconn, GL Ventures invest in autonomous driving startup AutoCore
    Autonomous driving startup AutoCore has raised nearly CNY100 million (USD15.5 million) in pre-A round financing, according to a report by Yicai Global on 1 March. The funding was led by Foxconn and GL Ventures. AutoCore is a supplier of intelligent automobile software and hardware platform. Signi...
    02-Mar-2021 News Investments
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