Page 10 - Auto Components News Today

As the world becomes aware of the merit of sustainable mobility, innovations in EV battery technology continue to increase at a commendable rate. Advancements in battery technology, such as solid-state batteries, lithium-ion and lithium-sulphur batteries, and silicon anode batteries, are taking centre-stage in the industry. Battery manufacturers and EV makers are focusing on increasing battery energy density and fast charging features. They are also keenly navigating technological developments t...

As the world becomes aware of the merit of sustainable mobility, innovations in EV battery technology continue to increase at a commendable rate. Advancements in battery technology, such as solid-state batteries, lithium-ion and lithium-sulphur batteries, and silicon anode batteries, are taking centre-stage in the industry. Battery manufacturers and EV makers are focusing on increasing battery energy density and fast charging features. They are also keenly navigating technological developments t...

Eurogroup Laminations: The Milan-based group - which specialises in stators and rotors, two core components of electric motors and generators - has seven plants in Italy while its facilities abroad also include ones in China and United States.

Key Insights The projected fair value for TI Fluid Systems is UK£2.85 based on 2 Stage Free Cash Flow to Equity TI...

Uaw Strike: The four-year contract guarantees a starting wage of USD 20 an hour for UAW employees and retroactive pay hikes until Nov. 15 last year, and two categories of bonus that amount to USD 7,000, the union said. "All bargaining unit employees with more than four years of seniority will immediately receive traditional pay, with a general wage increase on top of that," the UAW said, a reference to what it said was the schedule D top rate.

Union Budget: The primary goal of the production-linked incentive (PLI) scheme is to generate jobs, which India sorely needs. The government has stated that the PLI scheme could be extended to more sectors, and what would be a more opportune moment than the budget speech to announce that? The Centre made its intention clear at the very start of the New Year, as it extended the Production-Linked Incentive (PLI) Scheme for Automobile and Auto Components by a year by making a few amendments.

US EV Policy: According to S&P Global Commodity Insights, despite encouraging the inclusion of U.S.-sourced battery metals such as lithium, cobalt, and nickel in tax credit-eligible EVs, low domestic production levels are expected to keep the U.S. reliant on foreign producers.

Responding to a query on the decision to put the toy PLI proposal on hold, DPIIT secretary Rajesh Kumar Singh said, “Currently we are focused on getting these 14 PLI schemes up and running in a good way. For the time being, the new PLI schemes are not being considered and we will focus on ensuring that these existing schemes get implemented well. Thereafter well see.”

The Ministry of Heavy Industries has extended the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year with partial amendments. The scheme will be applicable for five consecutive financial years, starting from FY24 and ending in 2027-28. The government has also modified the incentive outlay table to Rs. 25,938 crore.

The incentives as part of the scheme will now be available from FY24 to FY28, an official release noted.