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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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GM Reaches Agreement with China-based Pacific Century Motors on the Sale of Nexteer Automotive

Green Car Congress

The company designs, engineers, manufactures and sells electric power steering, hydraulic power steering, steering columns and driveline halfshafts for more than 60 automobile manufacturers and tier one suppliers. Headquartered in Saginaw, Mich., Nexteer Automotive employs approximately 6,200 people.

GM 186
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DOE Closes $465M Loan to Tesla Motors

Green Car Congress

The Palo Alto facility will assemble electric vehicle battery packs, electric motors, and related electric vehicle control equipment, both for Tesla’s own electric vehicles and for sale to other automobile manufacturers. The Department has also signed conditional commitments with Nissan North America, Inc. Tenneco Inc.