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

Baua Electric

Canada’s Magna International missed first-quarter profit estimates and cut its full-year overall sales forecast on Friday, as auto parts suppliers navigate ongoing supply constraints and bumpy demand for electric vehicles. The company’s shares were down about 4% in early trade.

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Lumax Cornaglia Auto Tech opens new plant for emission products in Pune – ET Auto

Baua Electric

With a workforce of over 200 employees, including 30 highly skilled and experienced engineers, this facility will serve the emission products requirements of the Indian Auto industry. in-house R&D laboratory and is a one-stop solution for complete vehicle-level emission products requirement of any auto OEM, in India and beyond.

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