Key Signals in Automotive
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Deal
Switch Mobility to supply 71 e-buses to JSW Steel
Switch bagged an order from JSW Steel to supply electric buses for the latter’s employee transportation. It will own and oversee entire operations, including setting up charging infrastructure and requisite maintenance efficacy, over a 12-year contract period. Read More>>
Merger and Acquisition
Stellantis buys aiMotive for self-driving cars
Stellantis is purchasing aiMotive and owns a wide range of car brands, including Alfa Romeo, Jeep, Fiat, Peugeot, Abarth, RAM, Mopar, Lancia, Vauxhall, and Fiat Chrysler Automobiles. Acquiring aiMotives world-class artificial intelligence and autonomous driving technology is important to becoming a sustainable mobility tech company. Read More>>
Executive Movements
Lada designer appointed director at Renault’s Mobilize
Ex-Dacia and Lada designer Jean-Philippe Salar has been appointed design director at the company. Jean-Philippe Salar will take over from Patrick Lecharpy, retiring after 30 years at parent company Renault. Read More>>
Bridgestone appoints Hoeft president of the commercial truck group
Steve Hoeft will assume the role of president of Bridgestone’s commercial truck group. The group includes the company’s truck and bus radial (TBR) business. Steve is an excellent leader and has been integral to the commercial truck group leadership team for several years. Read More>>
Faraday Future appoints Xuefeng Chen as global CEO
Faraday Future appointed Xuefeng Chen as global chief executive officer, sending shares up 1.4% in extended trading. Chen, who was most recently the CEO of the company’s China division and has spent two decades in the automotive industry, succeeds Carsten Breitfeld, who was removed from the role by the board. Read More>>
Mass Hiring
Combined Jaguar Land Rover site in Norwich to bring eighty new jobs
The company showroom is well and truly underway, with the site expected to create eighty jobs when it opens at the end of 2023. Building work on the two-storey 3,300 square meter Hunters Jaguar Land Rover showroom is well underway, with the new dealership expected to be ready by the end of next year. Read More>>
Financial and Market Activity
Volvo Cars reported sales of 59,154 cars in November
Volvo Cars reported sales of 59,154 cars in November, up 12.0% compared with the same month last year. The overall underlying demand for the company’s cars continues to remain robust, especially for its Recharge range of pure electric and plug-in hybrid cars. Read More>>
Maruti Suzuki sales were up by 14% at 1,59,044 units in November
The company reported a 14% increase in total wholesales at 1,59,044 units in November. It dispatched 1,39,184 units to dealers in November 2021. Last month, it added that the company’s domestic sales rose 18% to 1,39,306 units against 1,17,791 units in November 2021. Read More>>
Mazda reports November sales results
Mazda reported total November sales of 26,906 vehicles, an increase of 30.6% compared to November 2021. Year-to-date sales totaled 267,616 vehicles, a decrease of 14.6% compared to the same time last year. CPO sales totaled 4,344 vehicles in November, an increase of 13% compared to November 2021. Read More>>
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Latest Industry Insights from Draup Braindesk
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EV and Battery Management
- Iveco is keen on manufacturing and supplying its battery-electric vehicle that enhances life on board with a spacious and well-laid-out environment rich in comfort features and advanced functionality.
- Iveco works with a leading electric vehicle (EV) charging network to provide a customer-focused charging solution at the right time and the right place, and it helps to satisfy consumer demand.
Defense & Firefighting Portfolio Expansion
- Iveco wants to produce more amphibious platforms that offer best-in-class performance and protection with enhanced force protection and survivability compared to already deployed systems.
- The company plans to create a logistics robot with a trailer coupling and tremendous tractive power to keep emergency services safe from heat or collapse.
Advanced Driving Experience
- Iveco is committed to developing remote support services and modernizing its legacy apps with cutting-edge capabilities that allow the driver to communicate with the car through voice commands, promoting safety by allowing them to keep their eyes on the road.
- Additionally, it is beneficial to continuously monitor connected vehicles and receive an alarm immediately that gives addressing vehicle faults the greatest priority. Service Providers with rich expertise in incorporating various technologies to enhance the advanced driving experience would be apt to serve Iveco with better solutions.
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Key Funding Alert
BorgWarner Invests USD 500 Mn In Wolfspeed, explores deeper collaboration
BorgWarner will invest in silicon carbide technology provider Wolfspeed Inc to support the latter’s multi-year capacity expansion plan. Wolfspeed and BorgWarner are also exploring a deeper collaboration to accelerate technology development. Read More>>
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Startup Spotlight
Company – Ultraviolette Automotive
Total Funding – USD 53.82 Mn
About: Ultraviolette Automotive works on electric two-wheelers and energy infrastructure. The startup develops products and systems that reflect a progressive ideology and builds an electric vehicle ecosystem for this urban environment. Read More>>
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