Alta eMobility inks deal with BorgWarner to service and distribute DC fast chargers

Key Signals in Automotive

Centre Setup and Expansion
Tesla plans to spend USD 776 Mn to expand Texas Gigafactory
Tesla plans to add five new facilities to the site bringing its total footprint to 5.6 Mn square feet. It initially planned to spend USD 1 Bn on the facility, but it is unclear whether this latest commitment is included in that sum or in addition. Read More>>
Polestar opens first Australian store
To be gradually replicated in other Australian centers, the retail space concept aims to give guests a thoughtful environment to experience the brand’s first model in Australia, the Polestar 2. Read More>>
WITTE Automotive Bulgaria to expand Ruse plant
The company will double the production capacity of its plant in the city of Ruse. It has purchased 2,000 square meters of land to build a new production facility and increase its workforce to 1,500-1,600 people from the current 900. Read More>>

Deal
Alta eMobility inks deal with BorgWarner to service and distribute DC fast chargers
The deal comes as part of its long-term goal to provide fleet, workplace charging, and retail customers with a one-stop shop for electric charging solutions. Alta eMobility is expected to secure over 350 chargers over two years. Read More>>

Merger and Acquisition
India’s Sona Comstar acquires majority stake in Novelic
The company has acquired a 54% stake in Serbian technology solutions company Novelic for USD 43 Mn. The acquisition offers Sona Comstar strong growth opportunities over the medium term in a fast-growing industry. Read More>>
Tata Motors completes acquisition of Ford’s Sanand plant
The company has completed the acquisition for a total consideration of USD 89 Mn. It acquired all of the land and buildings at the Sanand facility, the vehicle manufacturing plant, and machinery. Read More>>

Partnership
Sibros and Marelli collaborate to bring advanced Over-the-Air solutions to Vehicle Cockpits
The company will deploy its Deep Logger and Deep Updater products on the Marelli cockpit to facilitate live vehicle data logging, software management, and over-the-air updates. Read More>>

Executive Movement
Jonathan Wood succeeds Jim Fier as Cummins’ Chief Technical Officer
Jonathan Wood, VP of New Power Engineering at Cummins, will succeed Jim Fier as Chief Technical Officer, effective April 1. Fier has decided to retire at the end of March 2023 after a 36-year career with the company. Read More>>

Financial and Market Activity
BMW Group sales down 4.8% in 2022 on supply bottlenecks
The BMW Group delivered just under 2.4 Mn vehicles in 2022, down 4.8% from the year before, with brand sales down 5.1% as supply chain bottlenecks caused by lockdowns in China and the war in Ukraine dampened deliveries. Read More>>
Volvo’s EV sales increased over 7 percent in 2022
Volvo sold 615,121 cars in 2022, down 12% from 2021. However, EV sales increased to 10.9% in 2022, a significant increase from the 3.7% share of EVs reported in 2021. Read More>>

Latest Industry Insights from Draup Braindesk

Startup Spotlight

Company – Scantinel Photonics
Total Funding – USD 18.32 Mn
About: Scantinel Photonics relies on coherent (FMCW) LiDAR to generate three-dimensional images of the environment, thus creating a reliable basis for autonomous navigation. Their LiDAR technology combines coherent ranging and spectral scanning on a solid-state platform. Read More>>

Latest Reports Published in Draup

TATA Motors Account Intelligence Report
Tata Motors focuses on leveraging RoboTaxi to enable the car to autonomously offer rides to members of the public without requiring a human driver. Read More>>

Goodyear Tire and Rubber Company Account Intelligence Report
Goodyear Tire and Rubber Company aims to develop lunar vehicle tires for lunar mobility vehicles to enable surface transportation for astronauts. Read More>>

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