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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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ACMA‘s Global Summit and Expo places India at the forefront of EV parts production, innovation – ET Auto

Baua Electric

New Delhi: The Automotive Component Manufacturers Association of India (ACMA), the apex body representing India’s Auto Component manufacturing industry, successfully concluded the 4 th edition of its ‘Transforming Mobility 2024 -Global Summit & Expo’. Secretary, Ministry of Heavy Industries, Govt.

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Car parts maker Valeo posts lower first-quarter sales on weak EV demand – ET Auto

Baua Electric

Car parts makers face slowing auto production, leaving suppliers with excess capacity, and are striving to reduce costs, including laying off workers, as Chinese EV makers expand in Europe.

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Pavna Industries inks deal with Ola Electric to supply ignition switches, latches for EVs – ET Auto

Baua Electric

New Delhi: Pavna Industries Limited, a leading automotive parts manufacturer has inked an agreement with Ola Electric to supply ignition switches and latches, consolidating its foray into the electric two-wheeler segment. Swapnil Jain, Managing Director of Pavna Industries Ltd.,

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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. We have a long way to go,” Qureshi said.

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Steelbird Hi-Tech plans major expansion and new facility to boost helmet production – ET Auto

Baua Electric

Production is expected to begin in two years, Rajeev Kapur , MD, Steelbird Hi-Tech, told in a media interaction at the manufacturing facility in Baddi. Steelbird launched a new product, the Fighter helmet, on May 17, 2024 starting at INR 2999. The company has acquired additional land in Baddi for the expansion.

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India at risk of becoming dumping ground for Chinese products amid US tariff hike – ET Auto

Baua Electric

India may become a dumping ground for Chinese products such as Electric Vehicles ( EVs ), batteries and other new technology items with the US raising tariffs on these imports from Beijing, economic think tank Global Trade Research Initiative ( GTRI ) said Tuesday. “The billion two-way trade, GTRI has said in its earlier report.

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