Auto Components
Winning new business a constant endeavour, won't shy away from any order: Ramesh Gehaney, Endurance Technologies
"I see absolutely no reason why we will not be adding more regions. See, now the world is the audience for anyone. It is no longer a domestic-alone revenue game. You go picking up new orders across the world and move alongside your OEMs. Wherever they are present, you also are."
India Resurgence Fund invests Rs 615 crore in Setco Group
As part of the transaction, Setco Automotive Limited (Setco) will transfer its clutch business into a subsidiary, Setco Auto Systems Private Limited (SASPL), into which IndiaRF will invest through a senior debt facility and 35% equity stake in SASPL, said a company statement.
Lucas TVS to invest in a Giga factory to manufacture SemiSolidTM cells in India
The first plant with world class safety standards will be set up in Thervoy Kandigai, Gummudipundi near Chennai and Lucas TVS expects to build other plants throughout India to support the growing energy storage, electric mobility and lead acid battery replacement markets.
Motherson Group eyes acquisitions as pandemic presents attractive opportunities
"We are in a strong position to make acquisitions, even in a volatile environment. Our balance sheet has become stronger since OEMs started re-opening their plants beginning last October, and we could begin ramping-up again" MSSL Chairman Vivek Chaand Sehgal informed the company's shareholders in the annual report for 2020-21.
Auto component industry needs to invest more on R&D: Maruti Suzuki India Chairman RC Bhargava
"Export of components grew and reached USD 15 billion in FY19, a very praiseworthy effort by any account, but it should be noted that the global trade and automobile components are USD 1.3 trillion. And our share of that is barely 1.2 per cent. We are also net importers in the component manufacturing industry," Bhargava stated at the virtual conference.
Auto parts industry may see 20-23 pc jump in revenue during current fiscal: Report
The domestic auto component industry has seen a smart recovery during the first quarter of this fiscal, driven by strong exports and revival of domestic demand in June, ICRA said in a statement.
Union Minister asks auto component companies to take steps to implement localisation initiatives
The heavy industries minister, Mahendra Nath Pandey, speaking at the annual session of the ACMA (Automotive Component Manufacturers Association, also asked the companies to invest in upskilling the workforce.
Boost localisation of automotive parts, reduce dependency on imports, says Amitabh Kant
Asking the automotive industry to focus on "low hanging fruits that could be localised in a short period", Kant said, the localising of mechanical parts, such as forged and machined components and lightweight polymer-based parts is critical.
Semiconductor shortage may be big opportunity for domestic auto component cos: SIAM chief
The global semiconductor supply chain has become increasingly at risk due to several factors and it has impacted the domestic auto industry since last year and continues to be a big challenge, SIAM President Kenichi Ayukawa said.
ACMA calls for long-term stable roadmap to allow for localisation of technologies
Speaking at the 61st Annual session of the component manufacturers' body, Jain raised concerns about high domestic taxation, increasing fuel costs, steep rise in commodity prices affecting vehicle prices.
Chip shortage may hit M&M’s diesel XUV 700 launch plan
ET has learnt that the prices of semiconductor components of the ECU rose by 20-25% in the past three months. A full unit of the ECU for the diesel engine is priced at ₹60,000-70,000.
Rajratan gains from tyre demand surge, import curbs
It has laid out an investment plan of ₹320 crore for increasing the capacity of its Thailand plant by 50% to 60,000 tonnes a year and then build a new facility at Chennai with annual capacity of 60,000 tonnes.
Motherson Group joins UNGC to strengthen sustainability commitment
"As a signatory, we will be integrating the principles of the (UN Global) Compact into our business practices, with the objective of creating a sustainable and equitable world that we all want," Motherson Group Chairman Vivek Chaand Sehgal said.
Vehicle recalls by automakers continue amid supplier woes
Leading manufacturers such as Hyundai Motor India, Mahindra & Mahindra and Toyota Kirloskar Motor saw recalls this year primarily due to malfunctioning fuel pumps, airbags and quality checks that may have escaped at the vendors’s end, incorrect fitment of parts and critical braking issues.
Bharat Forge Q1 consolidated net profit at Rs 153 crore
Revenue from operations rose to Rs 2,108 crore in the June quarter as against Rs 1,154 crore in the year-ago period, Bharat Forge said in a regulatory filing.
US-based auto parts maker Dana eyes big opportunity in India, to use country as exports base
Using India as a key base for exports with almost a third of its output shipped overseas, the American company has diverted some of the critical parts production from China to India to protect itself from the rising tariffs due to trade tensions between the US and China.