DSM and Renault to develop the industry’s lightest solution for plug-in hybrid vehicle fuel tank

Key Signals in Automotive

Centre Setup and Expansion
VinFast plans HQs in Germany, France, Netherlands 
VinFast has about 65,000 reservations for its EVs globally. In early 2023, VinFast plans to open locations in Oberhausen, Germany; Marseille, Rennes, Montpellier, and Metz in France; and Den Haag and Rotterdam, Netherlands. Read More>>
Textron expands parts distribution operations in Kansas 
Textron plans to add 180,000 square feet of space to its parts distribution operations for better customer support. Located in Wichita, Kansas, the expansion supports parts availability for the aircraft designed and manufactured by Textron Aviation. Read More>>
Envision AESC to supply EV cells to BMW Spartanburg 
Envision signed a long-term agreement to supply battery cells for BMW EVs. It would supply BMW with modern technology battery cells which offer 20% more energy density, faster-charging speeds, and an extended range of up to 30% more than current batteries. Read More>>
Vancouver-based Rock Tech signs lithium supply deal with Mercedes-Benz 
Rock The will supply 10,000 tonnes of the material annually starting in 2026 to Mercedes-Benz. The annual supply volume could supply around 150,000 electric vehicles with high-performance batteries. Read More>>
Tata Motors to supply 2k XPRES T EVs to Evera 
Tata Motors bagged an order for 2,000 XPRES T EVs from ride-hailing platform Evera. The automaker hopes to continue its association with Evera and jointly work towards offering a greener and safer mobility options to customers. The XPRES-T electric sedan has two range options, 213 KM and 165 KM. Read More>>
DSM Engineering Materials partners with Renault on lightweight and decomplexed PHEV fuel tanks 
The two companies will create an industry-first lightweight solution for hybrid vehicle fuel tanks. Using Akulon Fuel Lock and DSMs high-performance, low-carbon-footprint PA6 material, the fuel tanks can be produced with a blow molding monolayer construction that significantly reduces weight and cost without compromising safety or risking additional emissions. Read More>>
Executive Movements
Llistosella named new CEO of Knorr-Bremse 
The company’s Supervisory Board voted unanimously to appoint Marc Llistosella as the Chief Executive Officer of Knorr-Bremse AG for three years beginning Jan.1, 2023. He has also been active in the mobility sector as an investor and start-up founder in recent years. Read More>>
Allison Transmission appoints Jackie Bolles as Executive Director, Treasury and Investor Relations 
Jackie Bolles has assumed a new role as Executive Director, Treasury and Investor Relations at Allison Transmission. Bolles will lead Allison’s investor relations program and serve as a corporate spokesperson within the investment community, managing relationships with sell-side analysts, institutional investors, and individual shareholders. Read More>>
Financial and Market Activity
Q3 2022 results show energy storage growth to the fore for Tesla 
Tesla expects energy storage and other items to become 50% of company revenue. Energy storage growth year-on-year was 62% against cars delivered growth at 42%. At the end of 2021, the company was the world’s third-largest BESS systems integrator. Read More>>
North America sets Q3 sales pace for Volvo Trucks 
Volvo Trucks reported a record third quarter in terms of sales despite the global turmoil in logistics and economies. Despite continuing challenges, chiefly supply chain shortages and European energy prices, third-quarter income amounted to a record high. Read More>>

Latest Industry Insights from Draup Braindesk

  1. Ford Credit’s plan for its growth and value creation combines existing strengths, new capabilities, and relationships with customers to enrich experiences and deepen the loyalty of those customers. 
  2. Ford Credit develops and delivers innovative financial solutions for Ford trucks, sport utility vehicles, commercial vans and cars, and Lincoln luxury vehicles. 
  3. Ford is keen on expanding its positions in mobility solutions, including self-driving technology, and provides financial services through the Ford Motor Credit Company. 
  4. Greater Detroit Area, United States, serves as the critical location for Ford Credit. Chennai Area, India, is the major buying location focusing on Business Intelligence & Analytics and Software Testing-related engagements. 
  5. Product Engineering Services is the major outsourced segment, and HTC Global Services is the critical strategic outsourcing partner for Ford Credit.

Key Funding Alert

Vietnamese EV maker VinFast receives USD 135 Mn in green funding led by ADB 
The funding into VinFast is part of a push by the ADB to boost climate-friendly investments in the region. VinFast is planning to raise at least USD 400 Mn via its first green loan to fund its manufacturing of electric vehicles. Read More>>

Startup Spotlight

Company – Wunder Mobility
Total Funding – USD 81.81 Mn
About: Wunder Mobility provide robust and feature-rich white-label solutions that enable enterprises, startups, and cities worldwide to launch and scale sharable station-based and free-floating fleets to deliver sustainable, convenient, and secure mobility. Read More>>

Latest Reports Published in Draup

Faraday Future – Account Intelligence Report 
Faraday Future deploys AI-powered text-to-speech technology to enable natural, human-like communication for the in-car assistant in its FF 91 ultra-luxury vehicle. It is developing a new class of production facilities where intelligent, connected, and electrified products are created. Read More>>
Denso Account Intelligence Report 
Denso develops advanced e-mobility services to provide customers with a safe and secure driving experience. It strives to utilize digital technologies like AI, IoT, sensors, robotic process automation, and GPS to improve automotive operations. Read More>>
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