Tag: Tier 1 Suppliers

(LEAD) Hyundai Mobis Q3 net falls 6.8 pct on strong won, recall costs

(ATTN: ADDS Jan-Sept results in last para) SEOUL, Oct. 26 (Yonhap) — South Korea’s leading auto parts maker, Hyundai Mobis Co., said Friday its net profit fell 6.8 percent in the third quarter from a year earlier on the won’s strength and recall-related costs. Net profit for the three months ending on Sept. 30 fell… Continue reading (LEAD) Hyundai Mobis Q3 net falls 6.8 pct on strong won, recall costs

Hyundai Mobis Q3 net falls 6.8 pct on strong won, recall costs

SEOUL, Oct. 26 (Yonhap) — South Korea’s leading auto parts maker, Hyundai Mobis Co., said Friday its net profit fell 6.8 percent in the third quarter from a year earlier on the won’s strength and recall-related costs. Net profit for the three months ending Sept. 30 fell to 449.65 billion won (US$394 million) from 482.24… Continue reading Hyundai Mobis Q3 net falls 6.8 pct on strong won, recall costs

Autoliv spinoff Veoneer delays sales, margin goals as auto gloom spreads

Jan Carlson: “We see some delays in the start of production and slower ramp-ups of certain customer models along with some slight delays in expected business.” Esha Vaish and Johannes HellstromReutersOctober 25, 2018 20:40 CET STOCKHOLM — Swedish supplier Veoneer pushed back its sales and margin targets on Thursday, blaming production delays at customers struggling… Continue reading Autoliv spinoff Veoneer delays sales, margin goals as auto gloom spreads

Magna Invests in Advanced Motion-control Software by Acquiring Haptronik GmbH

“Haptronik develops algorithms to enhance the control and feel of power systemsCutting-edge technology will strengthen Magna’s leadership in mechatronicsDeal will help Magna take power doors and liftgates to new levels of excellenceAURORA, Ontario, Oct. 25, 2018 (GLOBE NEWSWIRE) — Drivers and passengers will enjoy a more intuitive experience thanks to technology which relies on motion… Continue reading Magna Invests in Advanced Motion-control Software by Acquiring Haptronik GmbH

UPDATE 1-Veoneer delays 2020 targets on slower car production starts

(Adds details, background) STOCKHOLM, Oct 25 (Reuters) – Electronic car products maker Veoneer, carved out of Autoliv this year, forecast delays in achieving its 2020 income and sales targets due to postponed production starts for some car models, sending its shares tumbling. The Swedish company, which is focused on high-tech safety gear to target self-driving… Continue reading UPDATE 1-Veoneer delays 2020 targets on slower car production starts

Faurecia to buy car navigation unit Clarion from Hitachi for $710m

October 25, 2018 French car parts maker Faurecia SA is set to buy a majority stake in Japanese car navigation system maker Clarion Co from Hitachi Ltd for around 80 billion yen ($710 million), the Nikkei reported on Thursday. The report said Hitachi agreed to sell most of its stake to Faurecia, making the French… Continue reading Faurecia to buy car navigation unit Clarion from Hitachi for $710m

The best comes last

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AV Maker Navya Ramps Up US Production

SALINE, MI – French autonomous-vehicle outfit Navya, which boasts of operating the first self-driving shuttle service in the world, begins production in North America after a successful IPO and brokers a supply agreement with a leading private-sector mobility services provider based in Cincinnati. Navya CEO Christophe Sapet says details about the partnership with First Transit,… Continue reading AV Maker Navya Ramps Up US Production