Club Car acquires Garia to accelerate its growth in the lightweight utility vehicles space
Key Signals in Automotive
Centre Setup and Expansion Rivian to open distribution center, and lab space in Torrance The company is opening a manufacturing and distribution center in Torrance. In December, the firm obtained USD 32.5 Mn in construction financing for the complex from Western Alliance Bank. The company will also use offices at the complex as lab space for hardware development. Read More>> Mitsubishi Electric to establish a new factory in India for factory automation control system products The company announced that it would invest approximately INR 2.2 Bn or Yen 3.1 Bn (USD 23.14Mn) in its subsidiary Mitsubishi Electric India Pvt. Ltd. to establish a new factory in India. Expected to start operations in December 2023, the new factory will manufacture inverters and other factory automation. Read More>> Goodyear expands its UAE footprint by opening a dedicated tire retail center in Abu Dhabi The new distribution center will provide a comprehensive choice of passenger car tires and a full suite of services, including fitting, inspection, replacement, and wheel balancing, to serve the UAE’s goal of enabling safer driving on the roads. Read More>>Deals Wabtec lands orders from CN, Fortescue The company will take delivery of Wabtec-modernized locomotives over the next two years. Wabtec, on June 6, reported that CN is the first railroad to order its latest Precision Dispatch System, which is designed for moving trains in both signaled and dark territory. Read More>> Kia Niro factory-fitted with Continental tires Continental announced that it would supply its EcoContact 6 Q, PremiumContact 6, and ProContact RX tires directly to the factory for the fully electric Kia Niro and the hybrid and plug-in hybrid models. Continentals EcoContact 6 Q benefits from excellent energy efficiency, a longer service life, superior handling, and improved braking performance. Read More>> Stellantis inks deal with CTR for Lithium Hydroxide supply The company recently agreed with Controlled Thermal Resources Ltd. The latter would supply battery-grade lithium hydroxide in Stellantis North American electric vehicle production. The process will be an integrated, closed-loop one that eliminates the need for evaporating brine ponds, open-pit mines, and fossil fuels. Read More>>Partnerships Symbio and Schaeffler create a new European joint-venture for clean mobility The two companies had signed an agreement to create a 50:50 joint venture to produce fuel cell bipolar plates for global mobility and energy solutions. The joint venture will be established by 2022, subject to customary conditions precedent such as applicable merger control clearances. Read More>> Waymo Via and Uber Freight partner up for the long haul The company announced a strategic partnership with Uber Freight. Over the past year, Waymo Via has lined up other long-term alliances with major coordination companies like C.H. Robinson and J.B. Hunt. As Waymo aims for commercialization, this partnership gives the company an avenue to reach Uber Freight’s more than 130,000 carriers. Read More>>Mergers and Acquisitions Club Car completes acquisition of Garia The company announced the acquisition of Garia, and it also includes Melex, which Garia acquired in 2021 to accelerate its growth in the utility space. With over 60 years of innovation and design experience in producing small-wheel vehicles, Club Car is a leading manufacturer of gas and electric golf, utility, and personal vehicles. Read More>> Mohawk Industries acquires Vitromex Ceramic Tile business from Grupo Industrial Saltillo The company announced that it has agreed to purchase the Vitromex ceramic tile business from Grupo Industrial Saltillo for approximately USD 293 Mn in cash. When combined with Mohawk’s current Mexican operations, this expanded footprint will enhance the company’s customer base, manufacturing efficiencies, and logistical capabilities. Read More>>Executive Movement Vice President of Ford’s China JV to step down at month-end The VP of the automaking joint venture between China’s Changan Automobile and the US Ford Motor will leave the company at the end of June for personal reasons. Lu Yi, who is also president of the National Distribution Services Division, departs on a high note as he has managed to stage a turnaround of Changan Ford Automobiles’ flagging sales during his short one-year tenure. Read More>> Rivian hires a new COO amid other leadership and organizational shifts The company has hired a new chief operating officer to lead the restructuring and alignment of its operations, the automaker. Frank Klein will join the company on June 1 as Rivian’s new COO to oversee the automaker’s production, manufacturing engineering, and supply chain. Read More>>
Latest Industry Insights from Draup Braindesk
Honda focuses on accelerating mobility, electric vehicles and energy solutions, robotics & artificial intelligence, and connected automobiles to improve its vehicle capabilities and provide customers with a better driving experience.
Honda focuses on partnering with companies to develop an electric vehicle series based on a new global architecture and strengthen the area of EV battery technology to reduce electrification costs and improve EV performance.
Honda focuses on implementing 5G SA and the cellular V2X communication technology system to reduce accidents caused by pedestrians and provide an in-vehicle connected service to bring the Android platform to the automotive industry and improve smartphone functionality for drivers.
Key Funding Alert
Ford to invest USD 2 Bn in Wayne county
The investment will produce an all-new Mustang coupe at the Flat Rock Assembly Plant and a new Ranger pickup at the Michigan Assembly Plant in Wayne and increase production of the F-150 Lightning electric truck to 150,000 per year at the Rouge Electric Vehicle Centre in Dearborn. Read More>>
Startup Spotlight
Company – Apex.AI Total Funding – USD 71.97 Mn About: Apex.AI specializes in developing operating systems for autonomous vehicles. Its software products are based on open-source software such as ROS or Eclipse ice Oryx that can seamlessly integrate into vehicles. Read More>>
Latest Reports Published in Draup
Microvast – Account Intelligence Report
Microvast develops state-of-the-art battery solutions to electrify the current and future line of purpose-built electric vehicles, including electric buses. It aims to accelerate the transition to zero-emission transportation by developing a series of new skateboard road trucks. Read More>>
Pratt Miller – Account Intelligence Report
Pratt Miller offers advanced engineering, product development, and innovation services to the motorsport and multiple ground vehicle markets. It focuses on robotics technology to improve its service, meet customer demand, and expand its product and service offerings worldwide. Read More>>
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