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Auto supplier Adient cuts jobs, transfers roles in Europe to shave costs – ET Auto

Baua Electric

European automakers face a trifecta of challenges: soft demand due to higher borrowing costs that discourage car purchases, fierce competition from Chinese rivals, and higher input costs squeezing their margins. The company did not disclose how many employees were affected by the layoffs or which countries it is shifting roles to.

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China issues draft guidelines to rein in lithium battery industry – ET Auto

Baua Electric

China has released draft guidelines aimed at reining in the country’s lithium battery industry , which has been in Western crosshairs over fears subsidised overproduction could flood global markets with cut-price exports.

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NXP Semiconductors unveils industry-first platform for software-defined vehicles – ET Auto

Baua Electric

The new industry-first vehicle software platform, called ‘S32 CoreRide’, simplifies complex vehicle architecture development and cuts costs for automakers and tier-1 suppliers.

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Iron & steel industry pins hope on budget announcements – ET Auto

Baua Electric

.’ With the beginning of Punjab assembly ’s budget session, optimism has surged in the Mandi Gobindgarh and Fatehgarh Sahib’s iron and steel industry , which has been anticipating positive announcements and relief measures. One of the pressing issues highlighted by industrialists is the escalating power tariff.

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Ola Mobility CFO resigns amid company restructuring – ET Auto

Baua Electric

This restructuring is aimed at productivity enhancement in an AI-led era that is redefining the cab-hailing industry globally. The restructuring will allow Ola to strengthen cost structures, focus on growth and increase its bottom line,” an Ola spokesperson said.

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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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US announces USD 325 mn to repair EV chargers, cut battery costs – ET Auto

Baua Electric

Departments of Transportation and Energy will invest USD 325 million across three programs to advance EV technologies, repair chargers and cut battery costs, the White House said in a statement on Friday. On Th ursd ay, the U.S.

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