Advik Hi-Tech, a leading global automotive component manufacturer, today completed the acquisition of Hanon Bangalore Operations (Hanon Bangalore), from Hanon Systems, South Korea. This plant currently manufactures automotive water pumps and vacuum pumps for global vehicle manufacturers, with scope for expansion. Advik says the acquisition is a strategic fit as it accelerates Advik Hi-Tech’s global… Continue reading Advik Hi-Tech acquires Hanon Systems’ Bangalore unit
Author: Autocar_Professional India Online News
Suzuki Motor Corp’s five-year plan bullish on growth from India
After celebrating 100 years of its existence in March last year, Japanese auto giant Suzuki Motor Corporation (SMC) has revealed its next five-year mid-term management plan which determines its actionable outlines for growth between April 2021 and March 2026. The company is going to rely on emerging economies like India, which will continue to be… Continue reading Suzuki Motor Corp’s five-year plan bullish on growth from India
Omega Seiki Mobility plans to invest Rs 100 crore for EV manufacturing plant in Bangladesh
Delhi-NCR-based Omega Seiki, an electric vehicle manufacturing company has announced that it will set up an electric vehicle manufacturing facility near Dhaka in Bangladesh, with an investment of Rs 100 crore. This the company says will be the first project of any Indian EV company in international markets. The new entity will be called OSM-Bangladesh… Continue reading Omega Seiki Mobility plans to invest Rs 100 crore for EV manufacturing plant in Bangladesh
Motherson Sumi reaffirms revenue target of US$36 billion by 2025
Motherson Sumi Systems’ restructuring exercise, which is expected to get complete by August this year, will allow the Group to pursue acquisition opportunities more aggressively. In a recent interaction with investors, the company reaffirmed its focus on generating revenue over US$36 billion (Rs 266,436 crore) with return on capital employed (ROCE) of about 40 percent by… Continue reading Motherson Sumi reaffirms revenue target of US$36 billion by 2025
Continental picks up stake in AI chip start-up Recogni, bets on future of autonomous vehicles
German technology company Continental has acquired a minority stake in the German-US start-up Recogni, which is working on a new chip architecture for object recognition in real-time based on artificial intelligence (AI). The processors of the future are intended for use in Continental’s high-performance vehicle computers, among other applications, where they will perform rapid processing… Continue reading Continental picks up stake in AI chip start-up Recogni, bets on future of autonomous vehicles
Amazon India to deploy Mahindra Electric’s Treo Zor for deliveries in 7 cities
E-commerce major Amazon India has announced its partnership with Mahindra Electric to further strengthen its commitment towards electric mobility in the country. In 2020, Amazon India had announced that its fleet of delivery vehicles will include 10,000 electric vehicles (EVs) by 2025, which is part of the company’s global commitment of adding 100,000 electric vehicles… Continue reading Amazon India to deploy Mahindra Electric’s Treo Zor for deliveries in 7 cities
Droom digital platform sees growing usage from used car and two-wheeler buyers
New Delhi-headquartered online marketplace Droom recently released its annual automobile industry trend report, which reported a 300 percent increase in digital adoption by consumers. The report highlighted that the Covid-19 pandemic accelerated this digital adoption and the shift was more pronounced among used cars and 2-wheelers as opposed to new ones. The company’s annual automobile… Continue reading Droom digital platform sees growing usage from used car and two-wheeler buyers
Jaguar Land Rover confirms plan to cut 2,000 non-factory jobs worldwide
Jaguar Land Rover has confirmed that it will cut 2,000 non-factory jobs from its global workforce in the next year, as part of its ongoing restructuring drive. The job losses, first reported by Sky News, will come from the British firm’s global salaried workforce. While Jaguar Land Rover has not given any details on the roles… Continue reading Jaguar Land Rover confirms plan to cut 2,000 non-factory jobs worldwide
Proterra to supply battery for Volta Trucks
Volta Trucks, the full-electric commercial vehicle manufacturer, has selected Proterra, a leading innovator in commercial vehicle electrification technology, as the battery supplier for the Volta Zero. The Volta Zero is the world’s first purpose-built, full-electric 16-tonne commercial vehicle designed specifically for inner city freight distribution. This significant contract completes Volta Trucks’s strategic sourcing of the… Continue reading Proterra to supply battery for Volta Trucks
Allison Transmission chairman Lawrence E Dewey to retire, David Graziosi to take charge
Allison Transmission has announced that Lawrence E. Dewey has notified the company’s board of directors of his decision to not stand for re-election at the company’s 2021 annual meeting of stockholders. Dewey joined the board in October, 2007 as Allison Transmission’s President, CEO and Chairman following the purchase of the Allison business by The Carlyle Group and… Continue reading Allison Transmission chairman Lawrence E Dewey to retire, David Graziosi to take charge