Nidec to make more efficient EV drive systems for China with Renesas’ power semiconductors

Key Signals in Automotive

TVS Racing teams up with KidZania to launch inaugural virtual racing championship for Gen-Alpha
TVS Racing will introduce a state-of-the-art TVS Racing zone at KidZania Delhi NCR, offering interactive learning areas and a virtual championship. The collaboration aims to nurture young riders’ passion for motorsports and dispel stereotypes surrounding racing. Read More>>
Xiaomi’s digital car key feature, built in collaboration with Google and BMW
Xiaomi partnered with Google and BMW to develop the digital car key feature for Xiaomi smartphones. The partnership allowed Xiaomi users to conveniently lock, unlock, and start their BMW cars using smartphones while ensuring security through encryption technology. Read More>>
Nidec and Renesas to develop an EV drive system to meet demand in China
The new product will incorporate Renesas’ power semiconductors, which regulate and convert electrical power, into Nidec’s integrated motor, inverter, and gearbox drive system. Read More>>
Product Launch
Mitsubishi Motors Corporation (MMC) launched the XPANDER hybrid
Mitsubishi Motors has introduced the XPANDER HYBRID, a new SUV combining ruggedness and fuel efficiency. Based on the platform of the Outlander PHEV, it features a 2.4-liter MIVEC engine and electric motors. The XPANDER HYBRID is offered in two trim levels, G and GLX. Read More>>
Recaro unveils its newest premium seat
Recaro launched the PL3810 premium class economy seat at the Aircraft Interiors Expo, offering enhanced comfort with features like a single-plate table, a 4.5-inch armrest extension, and a six-way adjustable headrest. The seat includes privacy wings that support the neck and provide a more secluded experience for passengers. Read More>>
Tata Motors unveils upgraded Nexon EV
Tata Motors launched the upgraded Nexon EV MAX XZ+ LUX. The new variant features a 10.25-inch touchscreen infotainment system, HD display, Android Auto and Apple Carplay over Wi-Fi, high-definition rearview camera, improved audio performance, voice assistant, and a new user interface. Read More>>
Executive Movements
Lisa Kline moves to the vehicle planning and logistics role at Subaru of America
Subaru appointed Lisa Kline as VP of vehicle planning and logistics. With over seven years of experience at Subaru, she will oversee vehicle sales operations, production planning, inventory analysis, allocation, port accessory installation, and manage Subaru and distributor port operations. Read More>>
Red Bull Engineering boss joins McLaren as Technical Director
McLaren appointed Rob Marshall, former Chief Engineering Officer at Red Bull Racing, as their new Technical Director. Marshall will work alongside Neil Houldey, the Deputy Technical Director, to establish high technical standards for designing winning Formula 1 cars in McLaren’s restructuring of their technical department. Read More>>
CNH Industrial appoints Friedrich Eichler as Chief Technology Officer
CNH Industrial appointed Friedrich Eichler as its Chief Technology Officer. With over 30 years of experience in automotive engineering, including roles at Volkswagen and Mercedes-Benz Group, Eichler will oversee product development in the agriculture and construction segments, working closely with the respective Segment Presidents. Read More>>
Financial and Market Activity
Thor Industries announces third quarter fiscal 2023 results
Thor Industries, Inc. reported a decline in net sales for the third quarter of fiscal 2023, with $2.93 billion, down 37.1% compared to the previous year. The North American Towable RV gross profit margin decreased to 12.8% from 17.2% in the prior year. Net income attributable to THOR Industries and diluted earnings per share also reduced for the same period. Read More>>

Latest Industry Insights from Draup Braindesk

Advanced development of electrification
  • The company has established “Advanced Development of Electrification.” The flow of advanced development consists mainly of three phases: theme selection, technology development, and mass production. This is DENSO’s roadmap for developing technologies that underpin “reliability and safety” and “carbon neutrality” in the future.
Connected systems departments
Denso created two connected systems departments within the following groups: 
  • Sales and Marketing Group – To identify potential needs in the market and win new orders 
  • Mobility Electronics Business Group – Consolidate the technology development functions required for connected systems
CxO system
  • Introduced a CxO system, a combination of leadership roles that oversee specific business areas, for seven current C-Suite executives to help them more easily align company objectives and quicken decision-making. 
  • These roles include Chief Technology Officer, Chief Risk Officer, Chief Financial Officer, Chief Quality Officer, Chief Customer Officer, Chief Information Security Officer, and Chief Standardization Officer.
Global collaborations
The company partnered and invested in various firms to advance the development in the areas of autonomous driving, connected cars, electrification, and other emerging areas: 
  • It has partnered with Honeywell to develop and manufacture electric propulsion systems for aircraft. 
  • Introduced Profarm T-cube,” a next-generation agricultural greenhouse developed to make agriculture accessible to anyone, anywhere.
Research & Development
  • Denso has advanced its digital engineering program at its Engineering Center in Aachen, Germany 
  • The canter primarily focuses on energy management optimization, electrification technologies, and digital development to increase efficiency and safety in transportation. It also enhances DENSO’s ability to test new technology in various environments and conditions.

Key Funding Alert

Michelin to invest US$ 100 Million in Kansas agriculture plant
Michelin plans to invest in its Junction City, Kansas, operations to increase the production capacity of agricultural rubber tracks. The investment is part of Michelin’s global growth strategy and will cater to aftermarket and original equipment customers. Read More>>

Startup Spotlight

Company – ChargeLab
Total Funding – USD 35.4 Mn
About: ChargeLab is the Android of EV charging. We don’t build EV chargers, but our hardware-agnostic platform runs on the world’s most popular EV chargers. Once connected, our software makes any EV charger smarter and easier to use. Read More>>

Latest Reports Published in Draup

CNH Industrial N.V. Account Intelligence Report
CNH Industrial invests in developing existing and creating new product and service offerings responsive to customer needs, including developing and delivering connected and digital solutions, automation, electrification, and autonomy. Read More>>
Magna International Account Intelligence Report
Magna International intends to enter the fast-growing micro-mobility and battery-swapping sectors through investment and partnership with Yulu to stay competitive and attain a leadership position in the electric mobility industry. Read More>>
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