Page 4 - Auto Component News Today

French President Emmanuel Macron last year announced ProLogiums 5.2 billion euro (USD 5.67 billion) investment in a battery factory in the northern region of Dunkirk, adding to an emerging specialised cluster devoted to Europes electric car industry.

GlobalData’s latest report, “Global Sector Overview & Forecast – 4WD and AWD”, reveals that the 4WD market in APAC is estimated to reach 39.2 million units in 2023 and 44.2 million units by 2028. The AWD market in the region is projected to reach 8.8 million units in 2023 and 10.8 million units by 2028.

Reliable sources within the industry have revealed that Ola Electric has successfully met the stringent eligibility assessment requirements outlined in the PLI Scheme, including a minimum of 50% domestic value addition to its vehicles.

ClearMotion founder and chief technology officer Zack Anderson told Reuters that the companys ClearMotion1 suspension system uses a combination of hardware - a small unit containing a motor and power electronics sits in each wheel well of a vehicle - and software to read the road ahead and cut motion inside the car by "about 75% compared to the best technology in the market today".

Post the stake sale by TACL, Nippon Leakless will own 100% of the company. TACL will realize INR 81.8 crores for its entire 40% equity stake sale. (JV Company valued at INR 204.5 crores). This transaction is subject to certain conditions precedent and is expected to be completed in Q4FY24, the company said in a media release.

New Battery Plant: The decision by the battery supplier to EV maker Tesla came after the company in April said it was considering building a plant in Oklahoma, its third in the U.S. "After careful deliberations, we have made the decision not to move forward with developing the site," Panasonic Energy said in a statement.

Most European, Japanese and South Korean carmakers suspended production and gradually left the Russian market following Russias February 2022 invasion of Ukraine, taking technology, know-how and access to parts with them. Putin said car prices had risen by about 40%, without specifying a period, blaming this on low production and domestic carmakers increased costs as they import components.

The new headquarters is one of the most sustainable office buildings in Europe. The building complex provides a new working environment for around 2,400 employees in Continental’s group functions and Tyres and ContiTech group sectors, the company said.

Bolivia, home to some of the worlds biggest lithium reserves, signed a USD 450 million deal Wednesday with Russian state firm Uranium One Group to produce the key battery and electric vehicle components. Uranium One Group was one of seven firms vying for the contract under a tender launched last year by Bolivias state-run lithium firm, YLB. YLB chief executive Karla Calderon said the pilot plant would produce 1,000 tonnes of battery-grade lithium carbonate in its first year, before eventually sc...

Zf Group: The new plant in Coimbatore together with the main hub in Germany will support the production capacity needed for the future market growth in the global construction equipment market, the company said.