Page 21 - Auto Components News Today

Bosch New Plant In India: The technology supplier plans to increase the percentage of goods produced locally in India to bring down its imports of components, which had led to an increase of 12% in spending on traded goods last quarter.

Sona BLW to invest INR 1,100-1,200 crore in capex for processing orders, expanding capacity for electric vehicle components by FY26.

Exide Industries: The Kolkata-based company said its net profit after tax for the quarter ended June 30 stood at 2.42 billion rupees (USD 29.41 million), compared with 2.26 billion rupees.

Tower Semiconductor: The company - which caters to "fabless" firms that design chips but outsource manufacturing - is set to be bought by Intel under a USD 5.4 billion deal that was announced last year.

Tower Semiconductor: The company - which caters to "fabless" firms that design chips but outsource manufacturing - is set to be bought by Intel under a USD 5.4 billion deal that was announced last year.

Panasonic Energy: The use of silicon-rich anodes will enable Panasonic battery cells to store more energy and charge more quickly, the companies said. The greater energy density also gives Panasonic the option of making smaller, lighter packs with similar range to current battery cells.

Plastic Omnium: The company also flagged in an earnings call it anticipates price battles among automakers in the electric vehicle (EV) sector as they have to deal with a slowdown in orders, particularly in Europe, which will result in clients adopting a more aggressive pricing policy than in recent quarters.

Commercial vehicle components maker Hendrickson launched air and mechanical suspensions and axles for trailers in India, aiming to cater to local terrain. They completed the acquisition of Liteflex Composite Springs and offer lightweight, efficient systems. Hendrickson focuses on tailored products for the Indian markets needs.

Samvardhana Motherson International Ltd is set to acquire assets and shares of Germanys Dr Schneider Group for €118.3m ($141.2m). Dr Schneider Group is a loss-making asset, currently going through administration. Despite this, the acquisition is expected to create new growth opportunities for Motherson through the addition of a new product portfolio. Last month, Motherson Group acquired Bombardiers electrical wiring interconnection system business for $10m after acquiring Reydel Automotive ...

Overall, India’s engineering exports declined in June for the third consecutive month in FY24 to $8.53 billion