BMW and Adobe partner to digitally transform its sales and marketing for a seamless customer experience
Key Signals in Automotive
Centre Setup and Expansion Mitsubishi Motors inaugurates new paint factory in Thailand The new paint factory is one of the largest automobile paint factories in Thailand, which has realized improved production efficiency and reduced environmental load by automated major painting processes and advanced technology. Read More>> MG Motor India opens a new service facility in Malad The company has announced opening a new service facility in Malad, Mumbai. Dubbed as the largest MG workshop in Western India, the facility has been inaugurated to cater to the evolved mobility requirements of more customers across the city. Read More>> Ezz Elarab opens a new Volvo branch in Egypt The company inaugurated their latest showroom for the luxury brand in the Egyptian market in partnership with one of their most significant distributors, El-Ahmady Motors. The new showroom will comply with international Volvo standards, referred to as VRE. The showroom accommodates three different cars and has been supplied with sustainable furniture that has been imported from Sweden. Read More>> Minth opens an aluminum parts plant in Serbia Chinese car parts manufacturer Minth Group has opened a EUR 100 Mn plant in Loznica, western Serbia. The plant will manufacture aluminum parts supplied primarily to BMW, Renault, and Toyota. The factory will employ around 1,000 people, and Minth has plans to open more production plants in Serbia and hire over 3,000 people. Read More>> Allison Transmission opens Innovation Center, highlights multiple projects The company unveiled a new 96,000-sq.ft. Innovation Centre at the heart of its headquarters and manufacturing operations in Indianapolis, Ind. With about 300 employees, it will be home to engineering teams who had previously worked in multiple locations. Allison Transmissions innovation Centre will be home to about 300 employees. Read More>>Deal USD 1 Bn deal with Putin has Renault pinned down in Russia Russia is Renault’s second-biggest market, and it is paying a heavy price for a USD 1 Bn deal sealed in 2007 with a top ally of Russian President Vladimir Putin. Renault’s majority control of AvtoVaz, the Soviet-era maker of Ladas, and reliance on Russia for about 12% of its revenue are now matters of investor concern. Read More>>Partnerships BMW Group and Adobe expand partnership for a seamless customer journey BMW Group, which includes BMW, Rolls-Royce, MINI, and BMW Motorrad, is leveraging Adobe Experience Cloud to deliver personalized digital experiences as it advances toward selling a quarter of all its vehicles online within the next three years. Read More>> LG Energy and Hyundai Motor form battery joint venture in Indonesia LG Energy Solution and Hyundai Motor have formed a joint venture in Indonesia to manufacture batteries there, TheElec has confirmed. The pair had agreed to form a battery cell joint venture last July. LG Energy Solution owns 50% shares and Hyundai Motor 25% shares of the venture. Read More>> McLaren Automotive enters the metaverse in partnership with InfiniteWorld The company selected InfiniteWorld as its first official metaverse partner. The InfiniteWorld brand will be represented on the McLaren Automotive partner stack as part of the new partnership. Read More>>Executive Movement Renault promotes finance veteran Duncan Minto to CFO of Dacia-Lada Renault Group has named Duncan Minto, a 25-year veteran of the automaker, as CFO of the Dacia-Lada business unit. Minto will report to Renault CFO Thierry Pieton and Denis Le Vot, the general manager of the Dacia and Lada brands, and serve on the business units management board. Read More>> Rivian Automotive hires electric mobility veteran as its new COO The company hired electric mobility manufacturing veteran Frank Klein as its chief operations officer. The electric vehicle maker’s stock dropped 2.2% toward a record low in premarket trading. Klein replaces Rod Copes, who announced his retirement last year. Read More>> Eric Botella, new Marketing Director of Opel Spain The company appointed Marketing Director of Opel Spain. She replaces Paula Vicente, who will assume the responsibilities of Commercial Coordinator. Born in Arles (France) in 1981, Eric Botella is a graduate of the ESCP Business School and has completed a Master of Science from the City University of London. Read More>>Mergers and Acquisitions Turkey, US joint venture Ford Otosan acquires Ford Romania Ford Otosan, a joint venture of Ko Holding, Turkey’s largest conglomerate, and United States automotive giant Ford signed a contract to purchase all Ford Romania shares. The total annual production capacity of Ford Otosan is expected to exceed 900,000 with the purchase of the Craiova factory in Romania, and the number of employees is expected to exceed 20,000. Read More>> Volkswagen Group Services GmbH acquires Emden Logistic’s site Volkswagen Group Services GmbH acquired the Emden operations of Automobil-Logistik-Mosolf GmbH, a subsidiary of Mosolf SE & Co. KG, as part of an asset deal. The Emden site is mainly used for vehicle storage, used car reconditioning, and delivery inspection. Read More>> Cummins acquires Meritor for USD 3.7 Bn The company will acquire Meritor, Inc., a global leader of drivetrain, mobility, braking, aftermarket, and electric powertrain solutions for commercial vehicle and industrial markets. Under the agreement terms, Cummins will pay USD 36.50 in cash per Meritor share for a total transaction value of approximately USD 3.7 Bn, including assumed debt and net of acquired cash. Read More>>
VE Commercial Vehicles focuses on modernizing its core IT to deliver end-to-end digital continuity along with digital twins for virtual validation (digital mockup) and virtual manufacturing validation and planning.
The core systems modernization will allow VE Commercial Vehicles to transform its business processes in line with Enterprise Business Strategy and create a strong foundation for future capability & innovation.
VE Commercial Vehicles focuses on the development of next-generation vehicles which combine high productivity and efficiency, unmatched safety, excellent driver comfort, and enhanced connectivity features.
These vehicles offer improved structural strength, while the corrosion-free fuel tank and high-capacity alternator deliver trouble-free performance.
Key Funding Alert
Stellantis launches EUR 300 Mn venture capital fund
Stellantis Ventures will invest in start-ups developing technologies that could be deployed in automotive and mobility. Stellantis Ventures will accelerate the transformation by adopting new technologies developed by innovative start-ups while fostering their growth potential. Read More>>
Startup Spotlight
Company – ThorDrive Total Funding – USD 26.1 Mn About: ThorDrive is a company that develops software solutions related to automated and unmanned technology. ThorDrive provides an automated and unmanned platform and associated products and intellectual properties that can be applied to other areas. Read More>>
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