LTTS to provide high-end engineering services for BMW’s suite of entertainment consoles

Key Signals in Automotive

Centre Setup and Expansion
Japan’s Suzuki to set up a new global research company in India 
The company set up a new global research and development company in India and continues to invest in the country aggressively. The new company, an owned unit of Suzuki Japan, would help Suzuki strengthen its R&D competitiveness and capabilities for India and global markets. Read More>>
Tesla supplier eyes additional USD 4 Bn EV battery plant in the US 
Tesla will build an additional EV battery plant in the U.S. Panasonic eyed Oklahoma as the location for its new plant. The new Panasonic plant would come in addition to an EV battery factory it plans to build in Kansas. Read More>>
New Mitsubishi Motors 3S center opens in Rawang 
Mitsubishi is opening a new 3S center in Rawang, Selangor. The outlet is operated by Lofty Ambition, which has three other Mitsubishi dealerships in Ipoh, Taiping, and Sitiawan. Located along Jalan Millenium, Pusat Perniagaan Rawang Millenium, the facility occupies three shop lots and has a built-up area of 4,000 sq. ft. Read More>>
LG Innotek, Tesla signed a USD 746 Mn deal for the supply of camera modules 
LG Innotek recently struck a deal with Tesla to supply camera modules. Last year, the former provided some automotive cameras to the latter in small quantities. Read More>>
L&T Technology Services signs a multimillion-dollar 5-year contract with BMW 
The company has won a 5-year, multi-million-dollar deal from German luxury vehicle maker BMW Group. L&T Technology’s team of engineers will provide software and integration services, infotainment validation, and defect management, primarily for the family of hybrid BMW vehicles. Read More>>
CATL, FAW Jiefang build joint venture for new energy commercial vehicle sales, service 
The two companies will pour a total of Yuan 500 Mn (USD 73.448 Mn) into the deployment of new energy vehicle after-market operations, offering users three types of services: battery swap, vehicle leasing, and transport capacity supply, as well as recycling of used cars and batteries. Read More>>
Merger and Acquisition
Webasto acquires Luxembourg glass specialist Carlex 
The company has acquired Carlex Glass Luxembourg SA in Grevenmacher. The site manufactures glass elements for passenger cars, counts many international carmakers among its customers, and was previously part of Carlex Glass America LLC, based in Nashville, Tennessee. Read More>>
 Executive Movement
Volvo Penta appoints new Industrial Business president 
Volvo Penta announced Hannes Norrgren would assume the role of president of its Industrial Business and a member of the company’s Executive Management Group as of November 1, replacing Giorgio Paris, who is retiring after 25 years at the company. Read More>>
ADAC Automotive opens doors to a new president 
Jonathan Husby is the new president, and CEO of ADAC Automotive, a supplier of mechatronic door handles to the global automobile industry. The company, which employs more than 1,000 people, was previously helmed by Jim Teets, who served as CEO since 2007. Read More>>
Torc Robotics names new CEO from Daimler’s autonomous technology group 
Torc Robotics will replace its co-founder with a Daimler Truck executive as CEO. Peter Vaughan Schmidt, 52, head of Daimler Truck’s Autonomous Technology Group, will take over from Torc co-founder Michael Fleming effective Oct. 1. Read More>>

Latest Industry Insights from Draup Braindesk

  • ZF India aims to enhance its innovative technology across vehicle and transportation segments that addresses the current and future needs for mobility solutions. 
  • ZF India focuses on developing a traffic signal system for promoting safety and awareness of the road, pedestrian, and traffic conditions that help to reduce the burden on the commuters and the traffic police. 
  • ZF India aims to invest around EUR 200 Mn (USD 201 Mn) to grow the business through product launches, manufacturing, engineering footprint expansions, hiring, and other developments across all business domains. 
  • ZF India focuses on enhancing the projects that are in core and application development by leveraging AI applications, Data Sciences and Digitalization, Digital Twin and Simulations, Cybersecurity, and Functional Safety.

Key Funding Alert

KKR is in advanced talks to invest USD 400 Mn in Hero Future Energies 
The deal could be the firm’s single largest cheque in the Indian clean and renewable energy space so far. The investment will be a primary infusion to lower the debt and grow the business. JP Morgan is the advisor on the transaction. Read More>>

Startup Spotlight

Company – ChargeX
Total Funding – USD 51.3 Mn
About: ChargeX provides intelligent multi-socket electric car charging solutions. The company’s Aqueduct charging system and build future-proof charging park for plug-in hybrids and electric cars. Its Drop app can interact with the charging system and share the energy in the system with other users. Read More>>

Latest Reports Published in Draup

General Motors Account Intelligence Report 
General Motors is advancing an all-electric future that is inclusive and accessible to all. The company is committed to providing solutions that meet customers where they are. Its battery platform empowers everything from mass-market to high-performance vehicles. Read More>>
Tesla Inc. Account Intelligence Report 
Tesla focuses on developing self-driving systems by using low-cost cameras and sensors to collect data. It intends to enhance its energy storage facility to stabilize the power system. Its autopilot features help with navigation, lane changing, and other traffic control facilities. Read More>>
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