article thumbnail

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.

article thumbnail

Daimler and BYD restructure DENZA joint venture to 10:90

Green Car Congress

Daimler Greater China Ltd. and its long-term Chinese partner BYD Auto Industry Co., BDNT) with the goal to develop and produce NEVs in and for China. China plays a crucial role in accelerating this electrification strategy. Earlier post.) Both partners intend to complete an equity transfer in DENZA.

BYD 186
article thumbnail

AlixPartners study finds post-crisis auto industry facing new set of challenges; sales projected below historical levels for foreseeable future

Green Car Congress

Specifically, the firm estimates US auto sales will reach just 12.7 AlixPartners also estimates that on-going unemployment and underemployment could cost the auto industry up to 1.5 —with OEMs in China and India at 5.2%, while suppliers from China and India enjoyed an EBIT margin of 7.5%, the highest in the world.

article thumbnail

New Ipsos study on autonomous driving finds most Americans simply enjoy the act of driving their vehicle

Green Car Congress

Ipsos, the global research and insights organization, explored consumer thoughts in its third annual Global Mobility Navigator Syndicated Study. Todd Markusic, Vice President, Ipsos Mobility, said the Global Mobility Navigator Syndicated Study uncovered interesting insights on how drivers truly feel about self-driving cars.

Vehicles 191
article thumbnail

Tesla bucked the industry with its Q1 results — now TSLA is seeing momentum

Teslarati

Tesla ( NASDAQ:TSLA ) essentially bucked the auto industry in the first quarter of 2022. Jessica Caldwell, Edmunds’ executive director of insights, noted that the lack of inventory is one of the reasons behind the drop in the US’ new vehicle sales in Q1 2022. on Monday’s premarket. .

article thumbnail

Catching Up To China In The EV Race Will Require New Thinking

CleanTechnica EVs

by Charles Morris Auto industry analysts disagree about the timeline for the electrification of the world’s transport system, but there’s one thing they all agree on: China has pulled far ahead of the US. Originally posted on EVANNEX.

China 145
article thumbnail

At CES, legacy automakers scramble to keep up in AI arms race – ET Auto

Baua Electric

Not so long ago, automakers boasted about horsepower and towing capabilities in their cars and pickups, but in the fast-changing world of technology that now dominates the auto industry, software-driven enhancements are prominent in consumers’ minds. The transition to software-dominated cars is challenging. software developer.

Auto 52