Welspun One Logistics Parks (WOLP), an integrated fund and development management platform, has announced a build-to-suit lease agreement with Montra Electric (from TIVOLT), the 4 Wheeler electric vehicle manufacturer of the Murugappa Group. Under this partnership, Welspun One will construct a build-to-suit (BTS) facility, encompassing Montra Electric’s (from TIVOLT) retail experience center and a dedicated assembly… Continue reading Welspun One Logistics Parks to develop build-to-suit facility for Montra Electric in Chennai
Category: US Motoring Press
Exclusive: ‘Accreditation key to scale industry’s quality initiatives’: Vipin Sondhi
The National Accreditation Board for Certification Bodies (NABCB) under the aegis of the Quality Council of India (QCI) is taking charge of accrediting standardising organisations in the country to certify companies and scale the efforts of quality improvement. Vipin Sondhi, Chairperson, National Board for Quality Promotion (NBQP) talks about how the technological disruption in the automotive industry with the… Continue reading Exclusive: ‘Accreditation key to scale industry’s quality initiatives’: Vipin Sondhi
Maharashtra government asks GM to increase severance pay for striking workers, Hyundai Motors to absorb workforce
The Maharashtra government has asked Hyundai Motors, which has purchased the GM India plant, to consider absorbing some of the striking workers when it aims to begin operations in 2025. It has also recommended that General Motors increase the severance package offered so that workers who wish to leave are rewarded “handsomely.” Eknath Shinde, the Chief… Continue reading Maharashtra government asks GM to increase severance pay for striking workers, Hyundai Motors to absorb workforce
UVeye to automate vehicle inspection tasks with AI for Amazon
UVeye, a pioneer in the development of automated vehicle inspection systems, and Amazon have announced the deployment of AVI (Automated Vehicle Inspection), an AI-powered system that automates most of the daily inspection process of delivery vehicles. AVI scans for and detects automotive issues, improving fleet maintenance and reducing downtime for Delivery Service Partners (DSPs), as… Continue reading UVeye to automate vehicle inspection tasks with AI for Amazon
Gestamp and Tata Steel UK partner to double recycled automotive steel content
Tata Steel, the largest steelmaker in the UK and Tier 1 automotive supplier Gestamp, have signed an agreement aimed at nearly doubling the percentage of recycled steel in the components they supply to the automotive sector, as the two companies work to increase the circularity of steel in the automotive supply chain. Tata Steel’s automotive… Continue reading Gestamp and Tata Steel UK partner to double recycled automotive steel content
Alcoa recognised for alloy innovation as ‘megacasting’ trend grows
As auto manufacturers continue to look for ways to streamline and simplify production processes, ‘megacastings’, where dozens or even hundreds of small parts are consolidated into one solid casting, are becoming increasingly important in the electric vehicle (EV) sector. Alcoa has developed alloys for high-pressure die-casting applications, including megacastings process (sometimes known as gigacasting), including… Continue reading Alcoa recognised for alloy innovation as ‘megacasting’ trend grows
Eberspaecher JV sets up exhaust systems plant in Thailand
Purem AAPICO, the joint venture by Eberspaecher and AAPICO Hitech, has had the official opening of its new plant in Rayong, Thailand earlier this month. The production site, located 100km, southeast of Bangkok, will deliver exhaust systems for a pick-up truck of a leading US automotive manufacturer. The new plant stretches over 3,000 square metres… Continue reading Eberspaecher JV sets up exhaust systems plant in Thailand
Tesla’s Profits Plunge 44% After Big Price Cuts
Tesla’s profit slumped in the third quarter after the carmaker cut prices to maintain its dominance of the market for electric vehicles. The company reported a net profit of $1.9 billion from July through September, below Wall Street expectations. That was a 44 percent drop from the $3.3 billion Tesla made in the same three-month… Continue reading Tesla’s Profits Plunge 44% After Big Price Cuts
Tesla misses on earnings as margins drop from last year
Elon Musk, CEO of Tesla, speaks with CNBC on May 16, 2023. David A. Grogan | CNBC Tesla reported third-quarter results after the bell on Wednesday. Shares rose as much as 2.4% in after-hours trading after the report dropped, but then sank more than 1% after CEO Elon Musk cautioned that the Cybertruck would not… Continue reading Tesla misses on earnings as margins drop from last year
Want to see what weak discretionary spending looks like? See Winnebago’s results
A Winnebago Industries Inc. travel trailer stands at Motor Sportsland RV dealership in Salt Lake City, Utah, U.S., on Monday, April 6, 2020. George Frey | Bloomberg | Getty Images Winnebago closed out its fiscal year with a solid fourth quarter earnings beat. Adjusted per-share profit of $1.59 easily topped Wall Street expectations thanks to… Continue reading Want to see what weak discretionary spending looks like? See Winnebago’s results