he investment surge by both new and established automakers in the electric vehicle market is a bonanza for factory equipment manufacturers that supply the highly automated picks and shovels for the prospectors in the EV gold rush. By Ben Klayman DETROIT: The investment surge by both new and established automakers in the electric vehicle market… Continue reading The electric vehicle boom is pay-dirt for factory machinery makers
Tag: Magna
Superior Interior Trim Enhancement in Automotive Aesthetic Influencing Consumer Spending on Passenger Vehicle upgrades
NEW YORK, Aug. 19, 2021 /PRNewswire/ — Global automotive trim part sales are set to be valued to around US$ 58 Bn in 2031, according to latest research by Persistence Market Research, a research and consulting firm. The report estimates the market to expand at a steady CAGR of 4% through the course of 2021-2031.… Continue reading Superior Interior Trim Enhancement in Automotive Aesthetic Influencing Consumer Spending on Passenger Vehicle upgrades
Global Automotive Aerodynamics Market to Reach $29.4 Billion by 2026
FACTS AT A GLANCE Edition: 5; Released: April 2021 Executive Pool: 563 Companies: 17 – Players covered include Valeo SA; Johnson Electric Holdings Ltd.; Rehau Group; Inoac Corporation; HBPO GmbH; Piedmont Plastics; Brose Fahrzeugteile GmbH & Co. KG; Sonceboz SA; AirFlow Deflector; Ap Plasman; Batz S. Coop.; Spoiler Factory; SRG Global; P.U. Tech Industry Sdn.Bhd; Hilton Docker Mouldings LTD; Magna… Continue reading Global Automotive Aerodynamics Market to Reach $29.4 Billion by 2026
Magna Mezzo™ Panel Modernizing the Face of Electric Vehicles
Large front panel integrates ADAS sensors and lighting Features hidden-until-lit functionality Enables design distinction for front ends AURORA, Ontario, Aug. 18, 2021 (GLOBE NEWSWIRE) — Magna is reimagining the face and functionality of electric vehicle front ends with its new Mezzo Panel technology. The… Continue reading Magna Mezzo™ Panel Modernizing the Face of Electric Vehicles
Mercedes primes luxury EQG electric G-Class 4×4
Mercedes-Benz will preview the long-mooted electrification of its G-Class SUV with a concept at the Munich motor show that will spearhead the roll-out of a 4×4 sub-brand. It has been nearly two years since CEO Ola Källenius confirmed that the Magna-built Land Rover Defender rival – launched in 1979 as the G-Wagen – would gain… Continue reading Mercedes primes luxury EQG electric G-Class 4×4
Adient (ADNT) Down 2.5% Since Q3 Loss, Slashes FY21 View
Adient PLC’s ADNT shares have depreciated 2.5% since the company announced third-quarter fiscal 2021 results on Aug 5, before the opening bell. Investors were left disappointed as Adient slipped to a loss in the June-end quarter, snapping its profit streak since fiscal fourth-quarter 2020. Supply-chain disruptions amid shortage of semiconductors and rising commodity prices hurt… Continue reading Adient (ADNT) Down 2.5% Since Q3 Loss, Slashes FY21 View
Magna (MGA) Q2 Earnings & Sales Miss Mark, Trims ’21 View
Magna International MGA reported second-quarter 2021 adjusted earnings of $1.40 per share, turning around from the loss of $1.71 incurred in the year-ago period. The bottom line, however, missed the Zacks Consensus Estimate of $1.44 per share. For the reported quarter, net sales skyrocketed 114.7% from the prior-year quarter to $9,034 million but fell short… Continue reading Magna (MGA) Q2 Earnings & Sales Miss Mark, Trims ’21 View
LEAR (LEA) Q2 Earnings Beat, Sales Miss Estimates, ’21 View Down
Lear Corporation LEA reported second-quarter 2021 adjusted earnings of $2.45 per share, marginally surpassing the Zacks Consensus Estimate of $2.40. Higher-than-expected contribution from the E-Systems segment led to this outperformance. The reported earnings figure also turns around the loss of $4.14 per share witnessed in second-quarter 2020. For the reported quarter, revenues surged 95% year… Continue reading LEAR (LEA) Q2 Earnings Beat, Sales Miss Estimates, ’21 View Down
Goodyear (GT) Q2 Earnings Beat Estimates, Sales Soar 86% Y/Y
The Goodyear Tire & Rubber Company GT reported second-quarter 2021 adjusted earnings per share of 32 cents, surpassing the Zacks Consensus Estimate of 17 cents and turning around from the year-ago loss of $1.87. High sales volumes, revenues and operating income from the Europe, Middle East and Africa (EMEA) and Asia Pacific units drove the… Continue reading Goodyear (GT) Q2 Earnings Beat Estimates, Sales Soar 86% Y/Y
Veoneer to Engage in Discussions with Qualcomm
STOCKHOLM, Aug. 9, 2021 /PRNewswire/ — The automotive technology company Veoneer, Inc. (NYSE: VNE) and (SSE: VNE SDB), today announced that Veoneer’s board of directors has determined that Qualcomm’s proposal to acquire Veoneer (the “Qualcomm Proposal”) would reasonably be expected to result in a “Superior Proposal”, as defined under the terms of Veoneer’s merger agreement… Continue reading Veoneer to Engage in Discussions with Qualcomm