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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. These components account for more than 75% of auto parts imported into the country. To be sure, China dominates auto parts supplies to India.

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CEO’s Take On 2024: Tech-driven auto industry targets to be smarter, greener, says Prashanth Doreswamy – ET Auto

Baua Electric

After two consecutive years of swift growth in the auto industry’s performance, what is your outlook for 2024? 2024 is likely to see the industry stabilize and return to normal. What are the key micro and macro indicators that will play an important role in shaping up the auto industry in 2024?

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China to invest more than USD 830 mn in solid-state battery research – ET Auto

Baua Electric

Many auto industry officials and analysts expect solid-state batteries will determine the competitiveness of the next-generation EVs. Geely declined to comment. The other companies did not immediately reply to Reuters’ requests for comments.

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European battery maker ACC partners with Circulor to map supply chain, carbon emissions – ET Auto

Baua Electric

The partnership comes as the European auto industry readies for a “battery passport” that will trace the content and carbon footprint of EV cells sold in Europe.

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Auto component makers to double investments as global supply chains shift from China to India – ET Auto

Baua Electric

New Delhi: The shift has been gradual and the hope that India’s auto component sector becomes truly global finally appears to become real. As supply chains get rewired, India’s auto component manufacturers are sitting at larger than ever export orders and creating new capacities to fulfil increasing global demand.

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Uno Minda revenue grows 31%, PAT up 47% – ET Auto

Baua Electric

Nirmal K Minda, CMD, Uno Minda Group said, “The Auto Industry continues to register robust growth with a preference for better features for safety, comfort, and cleaner mobility. Post expansion, the capacity of 2W alloy wheels will get enhanced to 7.5 to 8 million wheels per annum, the company said.

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Auto sector sourced 50% parts locally, says minister – ET Auto

Baua Electric

The Indian automobile sector was able to source almost 50% of required auto parts from domestic markets under the INR 26,000 crore Production-Linked Incentive (PLI) scheme, said Union minister for heavy industries Mahendra Nath Pandey on Tuesday. India has emerged as the automotive powerhouse and the world is looking at us.

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