Volta Trucks electric vehicles to integrate Nexyard’s AI-based driver coaching system for its ADAS project
Key Signals in Automotive
Deals Hino Trucks partners to distribute battery-electric heavy-duty tractors Hino Trucks has signed a distribution agreement with Hexagon Purus for a new battery-electric tractor. Hino Trucks will have exclusive distribution and service rights in the United States. The electric heavy-duty model tractor production will start in late 2024. Read More>> Hankook to supply Leapmotor with Ventus high-performance EV tires Hankook has secured a deal to supply high-performance tires to Chinese EV manufacturer Leapmotor. The partnership aims to improve the driving experience and safety of Leapmotor’s upcoming electric vehicle models. Hankook is looking to strengthen its position in the Chinese EV market through collaborations with different automakers. Read More>>Partnerships Shell and Volkswagen collaborate to expand EV charging infrastructure Shell and Volkswagen have partnered to expand Germany and Europe’s electric vehicle charging infrastructure. They have introduced their first innovative 150 kW Elli Flexpole charging station at a Shell service station in Gottingen. Read More>> Volta Trucks partners with Nexyad for a data-driven advanced driver assistance system Volta Trucks has partnered with Nexyad to develop an advanced driver assistance system. The system will be powered by data-driven technology to enhance safety for commercial electric vehicles. The partnership aims to deliver an efficient and reliable system that can help prevent accidents on the road. Read More>> Joby and Toyota expand partnership with long-term supply agreement for key powertrain and actuation components Joby Aviation entered into a long-term agreement with Toyota Motor Corporation to supply key powertrain and actuation components to produce Joby’s all-electric aircraft. The partnership builds on their longstanding collaboration, including support for Joby’s production and assembly processes and the design of its pilot production line. Read More>>Centre Setup and Expansion Ayala Group and Zero Motorcycles collaborate to build e-motorcycles in PH Zero Motorcycles have signed a memorandum of agreement to set up the first EV motorcycle manufacturing facility in the Philippines. IMI will assemble Zero’s electric bikes at its Laguna facility, aided by California-based Zero. The partnership will contribute $65 million to the country’s electric vehicle ecosystem. Read More>> Visteon inaugurates display bonding facility in Chennai Visteon opened India’s first auto display bonding facility in Tamil Nadu, using advanced robotic technology from its global locations to create new job opportunities and better serve customers locally and globally. Read More>> Rivian to establish a remanufacturing facility in Shepherdsville, KY Rivian announced the investment of US$ 10 Million in a remanufacturing facility in Bullitt County. The facility will expand the capability and capacity of Rivian’s existing site in Shepherdsville to remanufacture critical components. Read More>>Mergers and Acquisitions Lear completes acquisition of I.G. Bauerhin Lear Corporation acquired I.G. Bauerhin for US $140 Million on a cash and debt-free basis. This acquisition expands Lear’s suite of in-vehicle comfort technologies, further enhancing its position as a global automotive technology leader. Read More>> Winnebago Industries completes acquisition of Lithionics Battery Winnebago Industries, Inc. has completed its acquisition of Lithionics Battery. The acquisition will strengthen Winnebago Industries’ position in the outdoor lifestyle products market, and Lithionics will operate as a wholly-owned subsidiary of Winnebago Industries. Read More>>Executive Movements General Motors appoints Directors for its Toluca and Silao plants General Motors appointed Artemio Ruiz and Victor Cabral as new directors of its manufacturing plants in Toluca and Silao, respectively. The changes come as part of a management reorganization, with Ruiz filling a vacant position and Cabral replacing Armando Hernandez. Read More>> Bharat Forge appoints Kedar Dixit as CFO, CFO News, ETCFO Bharat Forge announced the appointment of Kedar Dixit as its new Chief Financial Officer. Dixit will be responsible for the financial management and strategy of the company. He brings over 25 years of experience in finance and accounting to the role. Read More>> PACCAR Australia appointed a new managing director PACCAR Australia appointed Damian Smethurst as the new managing director. Smethurst has been with the company for 25 years and previously served as the general manager of PACCAR Parts Australia. He succeeds Andrew Hadjikakou, who is leaving the company to pursue other endeavors. Read More>>Financial and Market Activity Bharat Forge’s net profit dips 7% in Q4 Bharat Forge reported the net profit for Q4FY23 declined 6.6% YoY to Rs 245 crore, impacted by lower other income and a one-time expense. However, the company’s revenue increased by 19% to INR 1,997 Cr (US$ 243.5 Mn), and its operating margin expanded to 26.2%. In FY23, net profit declined by 3% to INR 1,045 Cr (US$ 127.4 Mn). Read More>>
Latest Industry Insights from Draup Braindesk
Preventive to Predictive Maintenance Transformation
As the demand for connected and luxury vehicles rises, customers intend to ensure the safety mechanisms, including the predictive maintenance features in the vehicles. For instance, Vehicle-to-Everything (V2X) communication allows communication with other vehicles, road infrastructure, and communication devices such as smartphones to share data, such as their speed, location, and direction for road safety.
A predictive maintenance solution is key in vehicle servicing by employing machine learning algorithms to proffer intelligent vehicle maintenance recommendations to car owners. The system predicts the possibility of an issue/breakdown based on past events, helps the driver to take necessary precautions on time, and enables frequent vehicle servicing or the part inspected to avoid a breakdown.
High Demand for Automotive Predictive Maintenance Solutions
Predictive automobile maintenance recommends periodic vehicle maintenance, maintains records of real-time breakdown events, analyzes the regularity of these events, and alerts the drivers/owners to avoid any vehicle-related problems. The vehicle carries regular car maintenance activities with OTA at a service station. This pushes the consumers to move towards predictive maintenance solutions across the sector.
With the technology advancement surge in the automotive sector, automotive companies are focusing on collaborating with tech/solution providers to develop electrified, autonomous, and connected vehicles. The connected vehicles powered by maintenance technology and predictive intelligence play a dominant part in an automotive-tech partnership where the tech providers assist automotive players in modernizing their portfolio.
Key Funding Alert
Mercedes-Geely smart JV could see investment from Chinese lithium miner Tianqi
The investment could potentially give BAIC a stake in the joint venture. The investment is part of a larger effort by BAIC to expand its presence in the electric vehicle market, including the launch of a new all-electric brand, Arcfox. Read More>>
Company – Magenta Mobility Total Funding – USD 58.23 Mn About: Magenta Mobility is an EV charging and mobility solution provider aggregating urban freight and transportation segments. Magenta bases its EV delivery and logistics services on unrivaled full-stack software technology and has implemented a connected fleet management system. Read More>>
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