Luminar’s lidar units to upgrade the hands-free driving system on Mercedes Benz cars
Key Signals in Automotive
Centre Setup and Expansion Yokohama Rubber expands tire production in India Yokohama Rubber is investing USD 82 Mn to expand India’s passenger car tire production capacity. The company wants to increase its annual production capacity from 2.8 million to 4.5 million tires to meet the growing demand from India’s expanding automobile market. Read More>>Deals Luminar and Mercedes-Benz announce a new multi-billion deal for self-driving tech Luminar expanded its partnership with Mercedes-Benz Group to enable fully automated driving in its next-generation vehicles. Beginning in the middle of the decade, Luminar will supply Mercedes-Benz with lidar sensors and software for a wide range of vehicles. Read More>> CALB gains traction overseas with the Honda deal CALB will now be able to officially supply products for Honda’s e: NP1 and e: NS1 models. The development follows CALB’s passing of audits jointly conducted by experts in Japan and China, covering production capacity and quality assurance capability, and opens the door for CALB to officially supply products for Honda’s e: NP1 and e: NS1 models. Read More>> Big River Steel strikes a deal with General Motors Under this new deal, GM will receive verdeX steel from Big River Steel, which is produced with 75% fewer emissions when compared to traditional manufacturing methods. VerdeX steel is also created with 90% recycled metal and can be endlessly recycled without degradation. Read More>>Merger and Acquisition UPDATE 2-Auto parts firm LKQ to buy Uni-Select in USD 2.1 Bn deal LKQ Corp announced it would buy Uni-Select Inc in an all-cash deal. It wants to tap into the Canadian company’s strong aftermarket auto parts business presence. The deal comes as rising interest rates force customers to hold on to their vehicles for longer, spurring demand for repairs and other services. Read More>> Belle Tire acquires Tireman Auto service centers The company announced it had acquired all 18 Tireman Auto Service Centers locations, giving Belle Tire more locations in northwest Ohio and southern Michigan. The acquisition of Tireman will enable the company to provide better service in the greater Toledo, Ohio, and northwest Ohio area. Read More>>Executive Movements Suzuki GB appoints a new managing director Suzuki GB appointed Takanori Suzuki as the new managing director for the UK and the Republic of Ireland. Takanori Suzuki currently serves as division general manager for Europe, Oceania, and Latin America for SMC Automobile. Read More>> Stoneridge elects Carsten J. Reinhardt to Board of Directors Stoneridge elected Carsten J. Reinhardt to Stoneridge, Inc.’s board of directors. Stoneridge is a company that specializes in developing electrical and electronic components for the automotive, commercial vehicle, and off-highway industries. Reinhardt’s experience in the industry makes him a valuable addition to Stoneridge’s board of directors. Read More>>Product Launch 2023 BMW 3 series LCI specs and pricing The company launched the new 2023 BMW X1 with key features and an updated exterior design. The 3 Series LCI features a slightly updated exterior design with new front and rear bumpers, redesigned headlights and taillights, and a new grille. Read More>>Financial and Market Activity Mazda production and sales results for January 2023 Mazda announced the production and sales results for January 2023. Mazda’s domestic production volume in January 2023 decreased by 7.2% year on year, primarily due to a decrease in the production of passenger vehicles. Its overseas production volume in January 2023 decreased 3.6% year on year, also due to decreased production of passenger vehicles. Read More>> Titan International, Inc. reports robust fourth quarter and fiscal year 2022 financial performance Titan experienced a 10% increase in net sales for the fourth quarter of 2022 compared to the same period in the previous year, excluding the impact of the sale of the Australian wheel business and foreign exchange fluctuations. Read More>>Patent New patent filing hints at a three-motor electric McLaren supercar The manufacturing company has filed a patent for a unique battery-powered car with three electric motors combined to power the rear wheels. A patent has pointed to plans for a battery-powered supercar with three electric motors, with the carmaker taking an unconventional approach to how the electric model would be laid out. Read More>>
Latest Industry Insights from Draup Braindesk
Key Driving Factors
Automakers are overhauling powertrains to go green by shrinking the size of engines and producing hybrid electric vehicles.
The shift to electric vehicles is increasing as it works on electric motors instead of internal combustion engines. It drives market growth due to its fuel efficiency, low maintenance, ease of home charging, smoother driving, and reduced engine noise.
Another driving factor is an autonomous vehicle that outperforms conventional vehicles in terms of safety, traffic congestion & emissions reduction.
Key Focus Area
With rising displays of climate change concern, the APAC region’s current and future focus appears to be on electric vehicles.
Thailand has started to channel its efforts into targeting foreign investors who seek the rise of eco-friendly automobiles. Beyond environmentally conscious vehicles, autonomous vehicles are also tested across Asia.
Key Funding Alert
Piaggio Vietnam adds USD 75 Mn to investment in Vinh Phuc
Piaggio invested in the northern province of Vinh Phuc to expand operations. The company opened a motorcycle assembly plant in the Binh Xuyen Industrial Park of Binh Xuyen district in June 2009. In March 2012, it unveiled an engine production factory in this industrial park. Read More>>
Startup Spotlight
Company – PreAct Technologies Total Funding – USD 40.99 Mn About: PreAct Technologies aims to bridge the gap between collision avoidance systems and active safety technology. Seasoned automotive experts lead PreAct Technologies, with the engineering team comprised of leaders in computer vision, optics, and parallel processing. Read More>>
Latest Reports Published in Draup
Ford Motor Company – Account Intelligence Report
Ford Pro offers a one-stop shop of vehicles, software, charging, services, and financing for commercial customers to accelerate productivity. It focuses on developing its battery production capacity for its EV introduction plan will require approx 240 GWh of battery cell production capacity by 2030. Read More>>
Automotive Roadmap for 2022 & 2023
The automotive industry’s market growth is fueled by the surging adoption of electric vehicles, digital twins, connected vehicles, vehicle-as-a-service, and autonomous vehicles. Automakers are overhauling powertrains to go green by shrinking the size of engines and producing hybrid electric vehicles. Read More>>
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