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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. Plans to deepen localisation of automatic transmissions, power control units, high strength steel, and combined charging systems are also on cards mid-term.

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ETAutoTS: Software, sustainability, cybersecurity to define the future of auto industry – ET Auto

Baua Electric

“Gone are the days when the auto industry used to be hardware oriented.” In addition to making vehicles which will bring revenue for a certain period, there is a fortune that is sitting in the downstream of the business and here software is going to play a big part, he added. This is unlike other sectors.

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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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Electric companies form National Electric Highway Coalition to develop national fast-charging network

Green Car Congress

The Edison Electric Institute (EEI) recently announced the formation of the National Electric Highway Coalition , which merges the Electric Highway Coalition and the Midwest Electric Vehicle Charging Infrastructure Collaboration and now includes additional participating electric companies from across the country.

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DOE announces $1.7 billion in grants to convert facilities for EV production and support US auto workers – Charged EVs

Baua Electric

Some folks fear that the transition to EVs will lead to major job losses in the auto industry—and not without reason, as EVs require different (and fewer) components than legacy ICE vehicles. Cummins came up with $75 million to convert part of an existing Indiana plant to make zero-emission components and electric powertrain systems.

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USABC awards $3.5M low-cost/fast-charge battery technology development contract to Zenlabs Energy

Green Car Congress

in Fremont, California for a low-cost/fast-charge (LCFC) technology development. The goal of USCAR is to further strengthen the technology base of the domestic auto industry through cooperative research and development. The United States Advanced Battery Consortium LLC (USABC) awarded a $3.5-million

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EU auto sales expected to slow in 2024 as EV share increases: ACEA

Teslarati

In January, the ACEA forecasted a 5-percent increase in 2023, showing the overall auto market slowing throughout this year. The recent statements came as part of the ACEA’s recommendations to several EU institutions as to how to manage the five years running from 2024 to 2029, after Europe holds its Parliament election.

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