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Partnerships
Leapmotor and Faurecia’s joint venture incorporated to produce new energy vehicle parts
Leapmotor and automotive technology company Faurecia have formed Jinhua Leapmotor Faurecia Automotive Components, a joint venture. With a registered capital of ¥ 45 Mn (US$ 6.2 Mn), the partnership seeks to create a sustainable automobile seating supply chain. Read More>>
MG Motor India and Jio join forces to bring connected car technology to the masses
MG Comet EV is equipped with Jio’s eSIM for enhanced connectivity and safety. The partnership with Jio Platforms enables the car’s infotainment system to access streaming and payment applications. Jio’s digital assets power the Comet EV Hinglish Voice Assistant. Read More>>
Deals
Scania and H2 Green Steel agree on supply deal
Scania has partnered with H2 Green Steel to acquire environmentally friendly steel for its trucks. Green hydrogen will be used in place of coal beginning in 2025, with deliveries beginning in 2027 to reduce CO2 emissions by as much as 95%. Read More>>
General Motors signs supply chain deal with Element 25 By Investing.com
Element 25 will provide GM with manganese sulfate, an essential raw material for electric vehicle batteries, to support the expansion of GM’s North American EV production capacity to 1 million vehicles per year. Annually, GM will purchase up to 7.2 million pounds of manganese sulfate. Read More>>
Centre Setup and Expansion
Schaeffler AG opens new development center in Kysuce
Schaeffler has invested € 20 Mn (US$ 21.6 Mn) in a new development center in the Slovakian city of Kysuce. The center focuses on developing innovative mobility solutions, such as electromobility products and chassis systems for automated driving applications. Read More>>
BMW US$ 700 Mn battery plant in Spartanburg County is under construction
The new battery plant is part of an investment of US$ 1.7 Bn to produce six fully electric vehicles. The one-million-square-foot facility will generate 300 jobs and assemble the sixth-generation lithium-ion batteries for BMW’s eDrive system; Envision AESC will provide high-voltage battery cells. Read More>>
Merger and Acquisition
Rivian acquires route planning app maker Iternio by Investing.com
The acquisition enables Rivian to adopt a charging standard, providing access to a large U.S. charging network and generating revenue from Tesla users via A Better Routeplanner, Iternio’s popular app. The app calculates routes using weather, charging stops, vehicle weight, etc. Read More>>
Executive Movements
Rivian hires Sarah OBrien as Chief Communications Officer
O’Brien will oversee numerous communication facets at Rivian, including product, consumer, internal, and corporate communications. Previously, she supported the launch of key products as the vice president of executive and product communications at Meta and Tesla. Read More>>
Harley-Davidson taps insider Jonathan Root as the new CFO
Jonathan Root is Gina Goetter’s replacement after she resigned in April. Since 2011, Root has served as Senior Vice President of Harley-Davidson Financial Services. He will immediately assume his new position. After Goetter’s departure, David Viney served as interim CFO before his appointment. Read More>>
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