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Ramkrishna Forgings secures USD 13.16m contract from North America – ET Auto

Baua Electric

The company anticipates not only solidifying its presence in North America but also continuing its tradition of delivering high-quality automotive components that drive innovation and performance, the company said. million (INR 109.2 million (INR 109.2

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Auto industry to invest USD 7 bn in 5 years to deepen parts localisation – ET Auto

Baua Electric

“World over, the industry is building resilient supply chains by reducing overdependence on any particular country or geography,” said Shradha Suri Marwah, president of ACMA. Automakers and their suppliers are likely to make this investment between FY24 and FY28, industry body Automotive Component Manufacturers Association ( ACMA ) said.

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Auto supplier Forvia posts organic sales growth for Q1 on strong N.America – ET Auto

Baua Electric

European automotive supplier Forvia reported higher organic sales for the first-quarter on Thursday driven by strong North America, and said new awards from Chinese carmakers had boosted quarterly orders. The group, born from Faurecia’s takeover of Hella in 2022, reported sales of 6.53 billion euros (USD 6.98

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Auto parts seller LKQ cuts 2024 sales forecast as warm weather slows demand – ET Auto

Baua Electric

Auto parts distributor LKQ cut its full-year sales forecast on Tuesday and missed estimates for first-quarter profit amid falling metal prices and softening demand for spares in North America. It now expects to report organic revenue growth for parts and services between 2.5% for 2024, down from its prior guidance of 3.5%

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Mitsubishi Motors told to pay USD 1 bn over US car crash – ET Auto

Baua Electric

“We do not accept the above judgement and MMNA (Mitsubishi Motors North America) plans to appeal to the higher court,” Mitsubishi Motors said. “We do not accept the above judgement and MMNA (Mitsubishi Motors North America) plans to appeal to the higher court,” Mitsubishi Motors said.

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Magna lags profit estimates, cuts annual sales forecast on supply chain snags – ET Auto

Baua Electric

Magna executives said on a post-earnings call the company was assessing impacts from automakers’ shifting electrification plans, particularly in North America. Supply chain constraints, coupled with labor shortages which began during the pandemic, also continue to impact the auto industry as they try to ramp up production.

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Sona Comstar opens plant in Mexico to meet N. American demand for BEV parts – ET Auto

Baua Electric

Sona Comstar ), one of the leading global providers of automotive technology solutions, has inaugurated a new manufacturing plant in the Fipasi Industrial Park, Silao, Mexico. This move is to meet the growing demand for high-quality driveline solutions for Battery Electric Vehicles (BEVs) in North America, the company said.

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