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Hyundai Mobis to expand investment in EV parts, automotive chips – ET Auto

Baua Electric

New Delhi: Hyundai Mobis , South Korea’s leading auto parts maker, has said it plans to boost its investment in electric vehicle (EV) parts and automotive chips this year. Such projects will make up around 70% of its total investment, rising sharply from the current 50%, he added.

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Ford experiments with auto part prototypes made from olive tree waste

Teslarati

Ford is experimenting with auto part prototypes made from olive tree scraps. Ford engineers in Cologne started researching the possibilities of using food waste to create auto part prototypes. Their research led to the COMPOlive project, which yielded auto part prototypes that were durable and lighter.

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AutoZone’s quarterly profit beats estimates on demand for car parts – ET Auto

Baua Electric

AutoZone beat estimates for third-quarter profit on Tuesday, driven by strong demand for automotive parts as more Americans held on to their ageing cars amid higher prices and wait times for newer models. Quarterly net sales at the auto parts supplier, which competes with Advance Auto Parts and O’Reilly Automotive , rose 3.5%

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JSW Energy begins construction as part of its foray into battery storage services – ET Auto

Baua Electric

JSW Energy Ltd is one of the leading private sector power producers in India and part of the USD 23 billion JSW Group. Overall, at COP26 held in 2021, India as a whole committed to an ambitious five-part “Panchamrit” pledge. JSW Energy has a total generation capacity of 13.3 GW comprising of 7.3 GW operational, 2.6

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Hyundai expands EV investment to parts and chips

Teslarati

Hyundai Mobis expanded its electric vehicle (EV) investments to auto parts and chips. Hyundai Mobis is Hyundai Motor Group and South Korea’s leading auto parts maker. Mitchell Yun, from Mobis Ventures Silicon Valley, announced that Hyundai Mobis would expand EV investments in auto parts this year.

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

Baua Electric

It now expects to report organic revenue growth for parts and services between 2.5% 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. for 2024, down from its prior guidance of 3.5%

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Luminar to cut nearly 20% jobs as part of restructuring – ET Auto

Baua Electric

Luminar Technologies , a maker of lidar sensors for self-driving cars , said on Friday that it would cut its workforce by about 20%, as part of a restructuring plan for the current year. Luminar is also looking to sub-lease some of its facilities in portions or fully, reducing global footprint as part of the restructuring.

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