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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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ABB and HASCO create joint venture to drive smart manufacturing in China’s auto industry

Green Car Congress

Partnership builds on existing relationship to deliver increased automation and sustainability for auto parts production New joint venture agreement signed by both parties on December 30th 2021 and expected to commence operation in Q2, 2022. Both parties agreed not to disclose any further details about the investment.

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AIDA servicing evolving needs of the auto industry | Autocar Professional

Baua Electric

Additionally, AIDA established a press showroom in Chennai, Tamil Nadu, ensuring the “Immediate delivery” of press equipment and range of ready stock spare parts and accessories. The post AIDA servicing evolving needs of the auto industry | Autocar Professional appeared first on Bauaelectric Auto News.

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Germany’s auto industry – outrun by Tesla – to axe thousands more jobs

Baua Electric

Back in 2022, the company said it would spend €2 billion in retraining some of its more than 400,000 staff to be better equipped to work in EV parts production. High inflation, increased raw materials, and soaring energy costs are all part of the reasons the companies are offering for the cuts, the FT reports. Get started here.

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Elon Musk finally names Tesla’s main rival—and it’s way bigger than the auto industry

Teslarati

However, Tesla has always maintained that its EVs — while they are the company’s most popular products — are only part of its ecosystem. The post Elon Musk finally names Tesla’s main rival—and it’s way bigger than the auto industry appeared first on TESLARATI. Indeed I did. — Elon Musk (@elonmusk) May 25, 2022.

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Tuopu: Tesla Leads The Auto Industry By At Least 5 Years

CleanTechnica EVs

Tuopu is an auto parts supplier that services a wide variety of brands, from Geely and SAIC to Ford, GM, Volkswagen, and other major automakers. China-based Ningbo Tuopu Group Co. Ltd (Tuopu) recently stated in its most recent earnings call that Tesla has a five year gap on other car companies, Teslarati reported.

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Tesla's Massive Price Cuts Send Shockwaves Across Auto Industry

InsideEVs

While the shock comes as no surprise, the more interesting part will be how it impacts rival brands' future pricing and offerings.