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Partnerships
Toyota forms joint venture in China to accelerate robocar deployment
Toyota established an RMB 1 Bn (US$ 136.6 Bn) joint venture in China with Pony.ai and GAC-Toyota to build electric vehicles with self-driving technology for Pony.ai’s ride-hailing platform. The collaboration intends to speed Toyota’s development of electric technologies and reclaim market dominance in China’s autonomous car sector. Read More>>
Gentari and BMW MY sign MoU to enhance green mobility
Gentari Green Mobility and BMW Group Malaysia have signed an agreement to collaborate on green mobility services, EV charging infrastructure, and renewable energy development. The collaboration intends to provide sustainable mobility solutions and infrastructure in Malaysia for a greener future. Read More>>
Deals
Hyundai Mobis lands major deal with Volkswagen for EV components
Hyundai Mobis will provide Battery Systems Assemblies (BSA) to Volkswagen’s next-generation electric car platform, demonstrating Hyundai’s experience in EV parts. Volkswagen’s outsourcing strategy intends to address software and supply chain difficulties to introduce electric vehicles on time. Read More>>
Volex was picked by Tesla to supply a US charging network
Volex PLC has become a Tesla-licensed partner in North America, delivering genuine EV charging connectors. Volex will supply couplers to manufacturers and charging infrastructure providers to enable Tesla’s charging technology implementation. Read More>>
Centre Setup and Expansion
VinFast breaks ground at North Carolina electric vehicle facility
VinFast begins building in North Carolina on its US$ 2 Bn electric vehicle manufacturing complex. The groundbreaking of the factory is a significant step forward in VinFast’s global expansion and sustainable mobility ambitions. The facility is scheduled to begin production in 2025. Read More>>
Hanon Systems to open US$ 170 Mn factory in Tennessee
Hanon Systems will invest US$ 170 Mn to build its fourth factory in Loudon County, Tennessee, to manufacture thermal products for North American automakers. The facility’s goal is to create 600 jobs which will help the region’s automotive industry thrive. Read More>>
Merger and Acquisition
Tesla acquires wireless charging company Wiferion, a Catalyst for future vehicle charging
According to Wiferion’s public filing in Germany, Tesla officially bought Germany-based wireless charging business Wiferion for an estimated US$ 76 Mn. Tesla’s pursuit of wireless charging technologies for its vehicles may be aided by the acquisition. Read More>>
Executive Movements
Cooper Standard appoints Kanary to Senior Vice President, Chief Legal Officer, and Secretary
MaryAnn Peterson Kanary has been named Senior Vice President, Chief Legal Officer, and Secretary at Cooper Standard. Kanary will head legal and compliance functions for Barton Malow Holdings LLC and Cooper Standard, reporting to CEO Jeffrey Edwards. Read More>>
Tesla appoints Vaibhav Taneja as new CFO after Kirkhorn steps down
Tesla Inc has selected Vaibhav Taneja as its new Chief Financial Officer, after Zachary Kirkhorn, who left the business after 13 years. Taneja, who was previously the Chief Accounting Officer, will now also serve as the CFO. Read More>>
Product Launch
BMW i7 Protection unveiled
BMW introduces the i7 Protection, a vehicle with Vr9 protection against weapons and explosives, as well as an armor steel body and armored glass. Deliveries begin in December 2023, following their debut at IAA Mobility 2023. Read More>>
Mitsubishi Xforce debuts at Indonesia auto show
Mitsubishi debuts the Xforce compact SUV at the Indonesia Auto Show, with its rugged appearance and usability aimed at the ASEAN area. The model, which will be available in several areas, features a Dynamic Shield front face, a large interior, and a Yamaha Premium sound system. Read More>>
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