Key Signals in Automotive
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Centre Setup and Expansion
LG Energy Solution and Stellantis to invest USD 4.1 Bn in a Lithium-ion battery plant in Canada
The companies entered a joint venture to invest more than CAD 5 Bn (USD 4.1 Bn) into a large-scale lithium-ion battery production facility in Canada. The Canada-based battery plant will be built in Windsor, Ontario. LGES and Stellantis are expected to start plant construction later this year and start operations by the first quarter of 2024. Read More>>
Mitsubishi Electric to establish a new production site for factory automation control system products
The company announced that it acquired 42,000 square meters of land in Owariasahi City, Aichi Prefecture, Japan, to establish a new production site to manufacture factory automation (FA) control system products from April 2025. Read More>>
CNH Industrial invests in Advanced Engineering Center in Arizona, the USA
The company announced that it had opened a new engineering center in Scottsdale, Arizona. Across a history spanning over two centuries, CNH Industrial has always been a pioneer in its sectors and continues to innovate and drive customer efficiency and success passionately. Read More>>
Deal
Yokohama Rubber to supply tires to Team Mitsubishi Ralliart participating in the Asia cross country rally
The company announced that it would supply its GEOLANDAR M/T G003 mud-terrain tires for SUVs and pickup trucks to support Team Mitsubishi Ralliart. It seeks to win this year’s Asia cross-country rally, Asia’s largest cross-country rally, held in August. Read More>>
Proterra & Shyft Group sign a battery supply deal
The company won another customer for its battery systems. US vehicle manufacturer, The Shyft Group will equip its Blue Arc electric delivery transporters with batteries from Proterra. The company announced plans to build another manufacturing facility for battery systems in electric vehicles. Read More>>
Partnerships
BMW M8 Competition Coupe BMW Group and QUT driving design innovation
The company is expanding its unique partnership with QUT by delivering the latest BMW M8 Competition Coup direct from BMW Group’s headquarters in Munich to QUT. It will enable its design students to undertake real-world collaborative projects on cutting-edge emerging technologies. Read More>>
Aramco and Hyundai Motor Group collaborate on advanced fuels for hybrid electric vehicles
The companies agreed to R&D an advanced fuel for an ultra-lean-burn, spark-ignition engine that aims to lower the overall CO2 emissions of a vehicle. A 2-year partnership seeks the development of an optimal fuel formulation for use in combination with a novel combustion system coupled with an electrified hybrid vehicle. Read More>>
Stellantis and LG Energy Solution invest USD 5 Bn CAD for a Lithium-ion battery plant
The company has announced the signing of binding and definitive agreements to build the first large-scale battery production plant for electric vehicles in Canada. The joint venture will manufacture ultramodern Lithium-ion battery cells and modules to meet a massive part of Stellantis vehicle manufacturing needs in North America. Read More>>
Executive Movement
THOR Industries announces changes to innovation team leadership
The company announced the hiring of McKay Featherstone, currently Airstreams Vice President of Product Development and Engineering, as the company’s Senior Vice President of Global Innovation. McKay has led innovation at Airstream for several years. Read More>>
Maruti Suzuki names Hisashi Takeuchi as the new Managing Director and CEO
The company appointed Hisashi Takeuchi as the new Managing Director and CEO from April 1, 2022. In its meeting held on Thursday, the company’s board appointed Takeuchi as the Managing Director and CEO from April 1, consequent to the completion of the term of Kenichi Ayukawa. Read More>>
Nissan appoints Thierry Sabbagh as President for Saudi Arabia, Managing Director for Mideast offices
The company appointed Thierry Sabbagh as President of Nissan Saudi Arabia from April 1, 2022, while continuing his position as Managing Director of Nissan Middle East. Read More>>
Pirelli wheels in Siricio as new CEO
The company appointed Fabio Siricio as its new chief executive officer. Siricio has been promoted from his position as Southeast Asia country manager and moto director for the Asia Pacific, based in Singapore, where he spent the last 15 months before his move to Australia. Read More>>
Mergers and Acquisitions
Hyva acquires TCA
The company has acquired all Truck Cranes Australia (TCA) assets, located just south of Brisbane in Queensland. The deal could provide Hyva a platform for expansion in the Queensland market, positioned close to Port Brisbane and strategic business partners. Read More>>
Yokohama Rubbers acquires Sweden’s Trelleborg Wheel Systems Holding for USD 2 Bn
The company acquired the entire wheel systems business of Swedish-listed Trelleborg AB. The transaction is to be effected via a share purchase of 100% of the shares in Trelleborg Wheel Systems Holding AB (TWS) from Trelleborg AB. Read More>>
Plastic Omnium acquires German AMLS
Plastic Omnium has agreed with the ams OSRAM group to acquire 100% of AMLS (Automotive Lighting Systems GmbH), a fast-growing German automotive lighting player, for EUR 65 Mn (USD 71.5 Mn). This acquisition represents an important step for Plastic Omnium in executing its strategy. Read More>>
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Latest Industry Insights from Draup Braindesk
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Key Funding Alert
NIO capital closes fund worth USD 400 Mn
After completing its fundraising, NIO will focus on early and medium-term investment projects, while its RMB Fund will focus on growth and maturity projects. The investment company focuses on investment in mobility, energy, science, and technology. Read More>>
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Startup Spotlight
Company – Helm.ai
Total Funding – USD 69 Mn
About: Helm.ai is a scalable artificial intelligence for autonomous vehicles. Helm.ai will use the recent USD 13 Mn in seed funding toward advanced engineering and R&D and hiring more employees, and locking in and fulfilling deals with customers. Read More>>
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Latest Reports Published in Draup
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Suzuki Account Intelligence Report:
Suzuki Motor Corporation provides motor vehicles and marine services. The company aims to succeed in mechanical industries to establish additional technology and develop the technical specification. Read More>>
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Sales
