ON Semi to supply BMW with power modules and drivetrain to deliver high system-level performance

Key Signals in Automotive

BMW signs long-term supply contract with ON Semiconductor
BMW signed a supply agreement with ON Semiconductor, which involves a long-term agreement to supply EliteSic die 750 V M3 as a full-bridge power module in BMW’s 400-volt drivetrain. The deal terms include ON semiconductor providing differentiated and application-specific die solutions, optimized size and layout, and high performance. Read More>>
Lotus Cars select Affinitiv Advertising for a full suite of digital solutions
Lotus Cars partnered with Affinitiv Advertising to offer digital solutions for the Lotus Approved Marketing Program. Affinitiv Advertising will provide customized digital marketing solutions to each dealership, tailored to their specific needs and goals, help increase the visibility of Lotus Cars. Read More>>
Stellantis partners with Detroit-based Vehya to become one of its preferred EV charger installers for US dealers
Stellantis partnered with Vehya, a Detroit-based company, to support its U.S. dealerships in preparing for increased sales and service of electric vehicles. This partnership will help Stellantis prepare its dealer network for an electrified future and support the evolving needs of consumers. Read More>>
Hyundai signs MoU with ITC agro business division to reach Bharat consumers
Hyundai signed an MoU with ITC Agro Business Division to strengthen Hyundai’s brand presence in rural markets. The collaboration will leverage ITC’s Choupal Saagar and e-Choupal platforms in rural hinterlands to expand reach to last-mile consumers. Read More>>
Centre Setup and Expansion
Volta Trucks opens new service centers in Germany and Spain
Volta Trucks expanded its European network by opening two new service centers in Germany and Spain. Its Truck-as-a-Service hub network will offer customer support, training, maintenance, and servicing at both locations. Read More>>
Honda and LG break ground for new Ohio EV battery plant
Honda announced a new joint venture EV battery plant with LG Energy Solution near Jeffersonville, Ohio. The plant will span over two million square feet and be completed by 2024. With a production capacity of around 40 GWh per year, the JV company will supply lithium-ion batteries to Honda’s North American factories. Read More>>
Executive Movements
Stoneridge elects Sheila M. Rutt to Board of Directors
Stoneridge appointed Sheila M. Rutt to the board of directors. Rutt is currently the chief human resources officer of Culligan International, a global water solutions and services company. Rutt has over 17 years of management experience with Diebold Nixdorf Incorporated and holds a Ph.D. and an MBA from Walsh University. Read More>>
General Motors President Mark Reuss named Board Chair for The Henry Ford
The company has announced that Mark Reuss, the current President of General Motors Company, will take over as the new Board Chair, succeeding Evan Weiner, who has held the position since 2009. Patricia Mooradian, the President and CEO of The Henry Ford, expressed confidence in Reuss’s ability to build upon Weiner’s work and transform the institution into a hub of innovation and creativity. Read More>>
Nissan names Stéphane Chauville as head of Corporate Sales Europe
Chauville has 30 years of experience in the automotive industry and has held various positions in regional business units and headquarters. He will oversee the fleet, rental, remarketing, residual values, and used cars domain. Read More>>
Rivian cuts almost 500 jobs in California to save cash
Rivian will reduce its workforce by 6%, losing nearly 500 jobs in California. The move aims to cut costs and conserve cash, as the company faces stiff competition in the EV market. Earlier reports suggested that around 840 jobs would be cut as part of the restructuring. Read More>>
Financial and Market Activity
Commercial EV maker Arrival burning through cash
Arrival has reported financial losses in Q4 2022, potentially exceeding USD 1 Bn for the full year. The company is seeking additional liquidity and has delayed its earnings call until Monday to finalize a transaction. Arrival plans to focus on building an electric van for the U.S. market, with production set to begin in 2024 at a micro-factory in Charlotte. Read More>>
UMW Toyota sold 9,297 units in Feb 2023, 45% higher
UMW Toyota has reported a total of 9,297 units sold in February 2023, including 64 units of Lexus vehicles. This represents a 37% increase from January 2023 and a 45% increase from February 2022. Year-to-date sales for the first two months of 2023 reached 16,083 units, a 15% increase compared to last year. Read More>>
Great Wall Motors’s sales in February fell 3.65% year-on-year, and sales of new energy vehicles reached 8,340 units
The company announced the production and sales report for February 2023 showed a year-on-year decrease of 3.65%, with 68,209 vehicles sold in February. In the first two months of the year, the cumulative sales were 129,728 vehicles, a year-on-year decrease of 28.94%. Read More>>

Latest Industry Insights from Draup Braindesk

Autonomous Driving System
  • Ford Motor is eager to expand its autonomous driving system with an off-road package that includes all-terrain tires, hill descent control, and skid plates to optimize the drive for the current conditions. 
  • By developing fleet management solutions, Ford Motor provides a flexible tracking system to monitor fuel usage costs and enables drivers to automate maintenance and repair tracking methods.
Mobility Solutions
  • Ford Motor is keen on developing a next-generation electric powertrain by combining advanced electric vehicle technology with Ford Pro’s digital ecosystem of software and services to reduce the cost of ownership, work more effectively, and simplify the transition to electric vehicles. 
  • By expanding Torq Shift automatic transmission, Ford Motor provides aftermarket equipment makers with improved access to Super Duty’s electrical system and signals to seamlessly integrate and operate their hardware into the truck’s digital displays.

Key Funding Alert

Stellantis to invest USD 155 Mn in Indiana plants to support EV production
The investment will involve retooling and upgrading the Indiana Transmission, Kokomo Transmission, and Kokomo Casting plants to produce the new EDMs, consisting of an electric motor, power electronics, and transmission combined into a single module. Read More>>

Startup Spotlight

Company – Fullpath
Total Funding – USD 57 Mn
About: Fullpath (formerly AutoLeadStar) is the automotive industry’s leading Customer Data and Experience Platform (CDXP). Fullpath enables dealers to turn their first-party data into customers for life by unifying siloed data sources and leveraging the data to create exceptional, hyper-personalized customer experiences. Read More>>

Latest Reports Published in Draup

Cummins Inc. Account Intelligence Report
Cummins is keen on developing hydrogen emission services that improve green hydrogen and electrolyzer systems like natural gas, advanced diesel, electrified solutions, hydrogen fuel cells, and other technologies. Read More>>
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