02 Sep 2021Automotive
Mitsubishi aims to fulfill its net zero emissions target with the acquisition of SGS

Key Insights and Signals in Automotive

Centre Setup and Expansion
Doosan Bobcat will build USD 70 Mn manufacturing facility in Statesville  
The manufacturing facility will consist of allotted spaces for manufacturing and warehousing, research and development, open air space for product testing and quality control, and more. Read More>>
Grammer investing in seat production facility by expanding its Haselmühl site in Germany   
With project ‘Mayflower,’ the company will realign the production facilities to become the world’s most modern site. Read More>>
Rivian eyeing Fort Worth, Texas, as the location for its next factory 
The USD 5 Bn project would create upward of 7,500 jobs and provide an economic boost to the city. Rivian is expected to start delivering its first customer R1T trucks before the end of 2021, with the R1S SUV following soon after. Read More>>
Royal Enfield opens production facility in Colombia 
The motorcycle assembly plant in Envigado, Antioquia, marks the second motorcycle assembly plant outside India, a significant milestone for Royal Enfield. The plant will locally assemble the Royal Enfield Himalayan. Read More>>
Lucid Motors opens its first retail location at Scottsdale Fashion Square  
The company provides a different car buying experience at the studio. There’s no dealership, no test driving, but there are models and a virtual reality presentation. Customers get a virtual feel of the luxury electric vehicle, testing out colors and features.  Read More>>

Deals 
Lightning eMotors and Forest River Inc. to provide zero-emission bus technology with charging products and services 
The agreement valued at USD 850 Mn calls for Lightning eMotors to build fully electric powertrains and provide charging products and services for Forest River over the next four and a half years. The buses will feature battery configurations from 80kWh to more than 160kWh using industry-leading battery thermal management systems. Read More>>
40 Ashok Leyland electric buses to hit Chandigarh roads 
The fleet would save about 6.5 lakh liters of fuel and reduce carbon emissions of approximately 1,700 tonnes per annum. The charging infrastructure for the fleet would be developed across four locations and would be maintained and operated by Ashok Leyland. Read More>>
Nexen gains OE fitment on Kia’s first EV  
Nexen Tire’s Roadian GTX EV and N’Fera Sport EVs will be fitted to the EV6, Kia’s first electric vehicle model based on Hyundai Motor Group’s Electric Global Modular Platform (E-GMP). The EV6 has a strong performance of more than 475km on a single charge. Read More>>
Alta Equipment Group signs dealer agreement with Nikola Corporation
The car giant’s Ultium battery technology and hydrogen fuel cell system would allow Wabtec to run its battery-powered locomotives. GM’s work on the Ultium battery technology as part of its joint venture with LG Energy Solution, which is currently constructing the battery cell plants in Ohio and Tennessee. Read More>>
Proterra and LG Energy Solution to partner on long-term supply agreement For EV battery cells 
Proterra will commit upfront a low nine-figure dollar sum under the agreement to secure multiple gigawatt-hours of dedicated U.S.-manufactured battery cell capacity on an annual basis. Read More>>

Mergers and Acquisitions
Faurecia nears deal for car parts supplier Hella 
Faurecia SE may acquire a majority stake in Hella GmbH. Lippstadt-based Hella, which traces its roots back to 1899, produces lighting and electronic components for cars, construction machinery, and boats. Read More>>
Magna International acquires Venoeer 
Veoneer’s complementary products and capabilities strengthen and broaden Magna’s ADAS portfolio and industry position for a total value of USD 3.8 Bn and an enterprise value of USD 3.3 Bn. Read More>>
Mitsubishi Electric acquires Glasgow’s Smarter Grid Solutions 
Smarter Grid Solutions (SGS) offers flexible, scalable control solutions allowing users to integrate DER for capacity management, flexible interconnection, virtual power plants, microgrids, fleet energy asset operations, and energy as a service. Read More>>

Partnerships 
Forest River & Lightning partner up on e-buses 
Forest River, the largest maker of shuttle buses in North America and Lightning eMotors, specialist commercial electric vehicles for fleets, have partnered to put up to 7,500 electric shuttle buses on roads in the US and Canada by 2025. Read More>>
Renault and Geely to explore new hybrid-focused JV 
The two companies have signed a framework agreement to set up the joint venture, making and selling Renault-branded petrol-electric hybrid cars in China using Geely’s technologies, supply chains, and manufacturing facilities while Renault would. Read More>>
Hyundai and UL ally to give EV batteries a second life 
The two companies would collaborate on second-life battery energy storage systems (SLBESS) initiatives, including safety testing and assessment, a North America product demonstration project, and evaluation process development. Read More>>
Maruti Suzuki accelerates digital initiatives with Facebook tie-up 
According to Facebook, the digital push of the automaker was driven by products such as AR filters and AI-powered chatbots, and conversational banners. The filters allow potential buyers to experience the vehicle in augmented reality. Chatbots enable them to get answers to frequently asked questions, and banners allow a way to engage with the car as if having a one-to-one conversation. Read More>>

Executive Movement  
Hero MotoCorp names new head-employee relations 
Dharm Rakshith comes with over 25 years of experience in Human resources and employee relations with expertise in HR, Talent Management & Development, HR Strategy in Sync with Business Growth drivers, Change & Transformation, and much more. Read More>>
American Honda announces transition of top executive leadership  
Shinji Aoyama, President & CEO of American Honda Motor Co., Inc., and chief officer of Regional Operations (North America), will take up his new role as the global Officer in Charge of Electrification for Honda Motor Co., Ltd. Read More>>
Otonomo appoints Doron Simon as Executive VP of Corporate Development and Strategy
Mr. Simon will be responsible for creating and implementing a new long-term vision for Otonomo to grow into new geographies and markets while working with existing key stakeholders and partners. Read More>>
B Govindarajan to lead Royal Enfield as Vinod Dasari quits  
B. Govindarajan will take on the responsibility of leading Royal Enfield. Effective August 18, he will be inducted as a Wholetime Director on the Board of Eicher Motors Ltd and will take on as Executive Director – Royal Enfield. Govind has been the Chief Operating Officer at Royal Enfield since 2013. Read More>>
Volkswagen hires Cameron Batten as CCO in North America 
Batten was previously Samsung Electronics of America’s VP and head of communications. Earlier in his career, Batten was VP of U.S. card communications at Capital One. Read More>>

Latest Industry Insights from Draup Braindesk

Smart manufacturing is disrupting the automotive industry by unlocking greater efficiencies and personalization for the production of vehicles: 

  • Additive manufacturing / 3D printing is the unique process to produce prototype parts rapidly and iterate much quicker than the traditional process. 

  • The digital twin has the enhanced ability to analyze data and monitor systems to solve problems even before they occur. 

  • Automotive Maintenance System uses sensors embedded in different components of a car and collects data and shares it to a platform when the vehicle is under maintenance. 

  • Cobotics and interactive robots are used to execute a routine process in manufacturing effectively. 

Industry 5.0 

  • Industry 5.0 refers to people working alongside robots and smart machines. Robots help humans work better and faster by leveraging advanced technologies like the Internet of Things (IoT) and big data. It adds a personal human touch to the Industry 4.0 pillars of automation and efficiency. 

  • This process offers companies the abilities of increasingly powerful machines combined with better-trained experts to foster an effective, sustainable and safe production. 

Market leaders are developing more connected cars with enhanced navigational and visualization systems using advanced 5G technologies: 

  • Yamaha motor company partnered with Sony corporation to develop a Sociable Cart called “SC-1” with image sensors capable of vision beyond human capacity on all sides of the vehicle. 

  • BMW Group and Daimler AG signed a long-term partnership to develop the next-generation technologies for driver assistance systems, real-time optimal traffic route guidance system, automated driving on highways, and self-parking in SAE Level 4 autonomous vehicles. 

  • Honda recently partnered with Tencent to develop an in-car infotainment system for the Chinese market, which lets people shop online. Tencent’s new system will allow drivers to place an order, make payment on the way to the store and pick up their purchase later. 

  • dSPACE and LeddarTech joined forces to drive the development of lidar innovations for self-driving cars. The partnership aims to provide high-precision simulation models and interfaces for lidar sensors, enabling OEMs and suppliers to integrate lidar innovations into ready-for-application solutions quickly. 

Key Funding Alert

Micromobility startup Voi raises USD 45 Mn to end sidewalk riding and improve safety 
Micromobility will use the funds to research and develop technology to improve safety, keep users from riding on sidewalks and ensure scooters are correctly parked. The company is keen to win partnerships with cities and maintain the ones it has. 
Read More>>

Startup Spotlight

Company –  Revolt Motors
Total Funding – USD 23.07 Mn
HQ location – NCR, India
About: Revolt Motors is a tech-enabled mobility company. Its affordable AI-enabled motorcycles. The company provides home charging equipment and a portable charger. Its app shows the nearest charging stations. The company also provides a charging vehicle for emergencies. Read More>>

Latest Reports Published in Draup

Daimler Trucks North America Account Intelligence Report: Daimer continues to level up autonomous technology solutions to deploy automated trucks. It is looking to drive connectivity across the commercial vehicle industry and transform it into a data-driven organization to enhance quality, innovation, and customer satisfaction. Read More>>
Mitsubishi Electric Corporation Account Intelligence Report: Mitsubishi introduced Project Firebird, an advanced cockpit demo vehicle combining multiple consumer-friendly technologies into one seamless user interface to enhance in-vehicle entertainment, comfort, convenience, and safety. 
Read More>>
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