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News
Continental, EasyMile set up new autonomous driving R&D team in Singapore
Continental and EasyMile have set up a new autonomous driving team in Singapore, the Germany-based company said in a press release on 15 November. The joint team, located at Continental’s research and development (R&D) center in Singapore, will work on developing solutions for driverless mobility. The Singapore R&D team will collaborate with Continental’s and E...
16-Nov-2018
News
Bosch to showcase new automotive system ICs at Electronica 2018
Bosch has introduced four new system integrated circuits (IC) at electronica 2018 in Germany, the company announced in a press release on 5 November. The new products include ICs for EVs, transmissions and oxygen sensor. Among the new ICs is a chip for electric vehicles (EV) that can help shut off the power in the event of an accident, thereby ensuring safety for driver an...
16-Nov-2018
News
Volkswagen (VW) to convert Zwickau plant in Germany into electric car factory
Volkswagen is set to fully convert its Zwickau plant in Germany into an electric vehicle (EV) factory, the company announced in a press release on 15 November. The plant will have a capacity to build up to 330,000 electric models per year. By end of 2019, Zwickau will start the production of ‘ID’, Volkswagen’s first electric model based on the new modular electric to...
16-Nov-2018
News
Cooper Tire & Rubber appoints Christopher j. Eperjesy as SVP, CFO, effective 10 December
Cooper Tire & Rubber has appointed Christopher J. Eperjesy as senior vice president and chief financial officer (CFO), effective 10 December, according to a press release yesterday (15 November). Eperjesy will succeed Ginger M. Jones, who is retiring from the company. Eperjesy has almost three decades of experience in finance positions of increasing responsibilities...
16-Nov-2018
News
Exide Technologies appoints Timothy D. Vargo as president, CEO
Exide Technologies has appointed Timothy D. Vargo as its new president and CEO, the US-based stored energy solutions supplier for automotive and industrial markets said in a press release on 14 November. Vargo, currently a member of Exide’s board of director, will succeed Vic Koelsch, who is stepping down. However, Koelsch will act as an adviser to the new CEO throu...
16-Nov-2018
News
Motherson Sumi Systems’s Q2 net profit down 14.9% y/y to USD51.1 million
Motherson Sumi Systems Limited (MSSL) has reported a 14.9% year-over-year (y/y) decline in consolidated net profit (attributable to owners) to INR3.7 billion (USD51.1 million) for the second quarter ended 30 September 2018, according to a press release on 14 November. Revenue from operations in the quarter increased 11.3% y/y to INR148.5 billion. Higher sales helped MSSL r...
16-Nov-2018
News
BMW releases powertrain details of 330e plug-in hybrid sedan
BMW has released powertrain details of new 330e plug-in hybrid sedan which is scheduled to be launched in March 2019, the company announced in a press release on 15 November. The car gets latest generation of BMW eDrive Technology combined with a 2L 4-cylinder 184 hp petrol engine and a 50kW electric motor. Together, the system has an output of 252 hp and 420 Nm torque. It...
16-Nov-2018
News
Varroc Engineering’s Q2 net profit up 9% y/y to USD13.9 million
Varroc Engineering has reported a 9% year-on-year (y/y) growth in net profit to INR1 billion (USD13.9 million) for the second quarter ended 30 September, according to a press release on 14 November. Revenue from operations for the period grew 24.1% y/y to INR30 billion. Operating income rose more than threefold y/y to INR163 million and EBITDA grew 43% y/y to INR3.2 billio...
16-Nov-2018
News
Henkel’s Q3 net income up 8.9% y/y to USD712.3 million
Henkel’s net income grew 8.9% year-on-year (y/y) to EUR614 million (USD712.3 million) in the third quarter ended 30 September 2018, the company said in a press release yesterday (15 November). Sales improved by 1.1% y/y to EUR5 billion. EBIT for the period rose 11.1% y/y to EUR833 million, and adjusted EBIT rose 3.3% y/y to EUR926 million. The company posted an above-...
16-Nov-2018
News
Bekaert’s sales rise 5% y/y to USD3.7 billion in January-September 2018
Bekaert has reported a 5% year-on-year (y/y) growth in consolidated sales to EUR3.2 billion (USD3.7 billion), according to a company press release on 15 November. Combined sales (sales of consolidated companies plus 100% of sales of joint ventures and associates after intercompany elimination) grew 6% y/y to EUR3.8 billion. Organic growth was 11.6% y/y at the combined leve...
16-Nov-2018
News
JLR develops new technology to help drivers avoid red lights
Jaguar Land Rover (JLR) has developed ‘Green Light Optimal Speed Advisory (GLOSA)’ technology that helps drivers to avoid red lights, the automaker said in a press release on 15 November. The GLOSA system is a vehicle-to-infrastructure (V2I) technology which allows vehicles to talk to traffic lights and informs drivers the speed at which they should drive as they appro...
16-Nov-2018
News
Apollo Tyres’ Q2 net profit up 4.1% y/y to USD20.1 million
India-based Apollo Tyres has reported a 4.1% year-on-year (y/y) growth in net profit to INR1.46 billion (USD20.1 million) for the second quarter ended 30 September 2018, according to a press release on 13 November. The Indian tire-maker reported a 22.8% y/y growth in sales to INR41.9 billion. Operating profit increased 25% y/y to INR4.8 billion. The tire-maker witnessed...
16-Nov-2018
News
Visteon expands technical center in Germany
Visteon has inaugurated its expanded technology center in Karlsruhe, Germany, the US-based automotive supplier said in a press release on 15 November. The new 6,500-square meter center will house 400 employees from the company’s technology office product development, engineering and customer teams. The center will drive Visteon’s development in vehicle cockpit electron...
16-Nov-2018
News
LG Innotek unveils LTE-based C-V2X module at Electronica 2018
LG Innotek unveiled a cellular vehicle-to-everything (C-V2X) module based on long-term evaluation (LTE) networks at the Electronica 2018 in Munich (Germany) this week (13-16 November), the South Korean company said in a press release on 12 November. The new module features the latest communication chipset, Qualcomm 9150 C-V2X, which functions as its brain. The module meets...
15-Nov-2018
News
Leoni’s Q3 net income down 11.5% y/y to USD26.7 million
Leoni’s consolidated net income declined 11.5% year on year (y/y) to EUR23 million (USD26.7 million) in the third quarter ended 30 September 2018, according to a press release by the German wiring systems and components manufacturer on 14 November. Sales for the period grew 1.5% y/y to EUR1.2 billion. The company’s EBIT declined 14.5% y/y to EUR38 million; EBITDA also ...
15-Nov-2018
News
Lumax Industries’ Q2 net profit up 50% y/y to USD3.7 million
Lumax Industries has reported a 50% year-on-year (y/y) increase in net profit to INR273 million (USD3.7 million as on 30 September 2018) for the second quarter ended 30 September 2018, according to a company filing on 23 October. Profit before tax for the period grew 54.5% y/y to INR339 million. The company posted strong growth in profit on the back of 36.4% y/y growth in ...
15-Nov-2018
News
Elektrobit, NXP enable virtual development of ECUs for connected, automated driving
Elektorbit has agreed to offer its Classic and Adaptive automotive-grade software for NXP Semiconductors’ S32 automotive processing platform, Elektrobit said in a press release on 14 November. Carmakers can use Elektrobit’s AUTOSAR-compliant software tools for NXP S32 platform, along with NXP S32 virtual development kits, to develop automotive applications needed for c...
15-Nov-2018
News
Gestamp’s JV with BHAP opens new plant in China
Gestamp's joint venture (JV) with Chinese metal components company Beijing Hainachuan Automotive Parts (BHAP), has started operations with the opening of a new plant in Tianjin, China, Gestamp said in a press release today (15 November). The new Tianjin plant involves an investment of more than EUR50 million (USD56.5 million). The plant that employs more than 250 people wi...
15-Nov-2018
News
u-blox team up with ERM to launch vehicle tracking device with built-in Wi-Fi hotspot
u-blox has collaborated with ERM Advanced Telematics to launch an advanced vehicle tracking device with built-in Wi-Fi, the company said in a press release on 8 November. ERM’s StarLink Tracker with Wi-Fi features u-blox’s GNSS (global navigation satellite system), 4G and Wi‑Fi Technology eliminating the need to equip vehicles with a separate mobile Wi‑Fi hotspot. ...
15-Nov-2018
News
NXP develops new power inverter platform for EV traction motor
NXP Semiconductors has developed a new automotive power control reference platform for an electric vehicle (EV) traction motor inverter, according to a company press release on 7 November. The platform includes a motor control microcontroller (MCU), power management device, IGBT gate drivers, CAN transceiver for communication, and application-specific software. NXP partner...
15-Nov-2018
News
Hyundai, Kia partner with Vodafone on connected car services
Hyundai and Kia have partnered with Vodafone to provide connected car services to their European customers starting next year, Hyundai said in a press release on 13 November. The strategic partnership will allow the two South Korean automakers to utilize Vodafone’s telecommunication network to offer in-vehicle infotainment services such as up-to-date traffic information,...
15-Nov-2018
News
Mercedes-Benz starts delivering GLC F-Cell plug-in hybrid in Germany
Mercedes-Benz has started delivery of its fuel-cell plug-in hybrid vehicle GLC F-Cell in Germany, the company announced in a press release on 13 November. Some of the earliest customers of GLC F-CELL include various national and regional ministries, National Organisation Hydrogen (NOW), H2 Mobility, Deutsche Bahn and the German railways. Air Liquide, Shell, Linde AG and th...
15-Nov-2018
News
Renault-Nissan-Mitsubishi alliance invests in battery technology company Enevate
Renault-Nissan-Mitsubishi, through its strategic venture capital arm Alliance Ventures, has invested in battery technology company Enevate Corporation, the company announced in a press release on 13 November. The company did not disclose the amount of investment. “We are pleased to participate in Enevate’s latest funding round. This strategic investment allows us to su...
15-Nov-2018
News
Schaeffler begins volume production of transmissions for Audi e-tron
German auto component supplier Schaeffler has started volume production of transmissions for the Audi e-tron, the company announced in a press release on 13 November. Schaeffler is developing and manufacturing the tramission for the electric vehicle at its plants in Herzogenaurach and Bühl (Germany). “The entire team is proud of this innovation that we have developed...
15-Nov-2018
News
Ford, Walmart, Postmates partner for self-driving delivery service
Ford has teamed up with Walmart and Postmates to test delivery of goods such as groceries, foods and other fresh items using self-driving vehicles in Miami, Florida (United States), the company said in blog posted on Medium. “Through this collaboration, we are exploring how self-driving vehicles can deliver many everyday goods such as groceries, diapers, pet food and per...
15-Nov-2018
News
Bosch to debut curved instrument cluster in new Volkswagen Touareg
Bosch is gearing up to launch what it claims will be the world’s first curved instrument cluster, the Germany-based automotive supplier said in a press release on 14 November. The company will debut its curved instrument cluster in the ‘Innovision Cockpit’ of the new Volkswagen Touareg sport utility vehicle (SUV). “With the world’s first curved instrument cluster...
15-Nov-2018
News
Johnson Control to sell Power Solution Business for USD13.2 billion
Johnson Controls International (JCI) has entered a definitive agreement to sell its Power Solution business to Brookfield Business Partners for USD13.2 billion, the company announced in a press release on 13 November. Net cash proceeds are expected to be USD11.4 billion after tax and transaction-related expenses. The transaction is expected to close by 30 June 2019, subjec...
15-Nov-2018
News
Renault supplies 15 Master Z.E. all-electric vans to PostNL in Netherlands
Renault has supplied 15 Mast ZE all-electric vans to PostNL; the vans have been put into operation in Amsterdam, Netherlands, the automaker announced in a press release on 5 November. The electric van is equipped with a 33kWh lithium-ion (li-ion) battery, which gives it a range of 200 kilometers (124.2 miles), according to New European Driving Cycle (NEDC), which translate...
15-Nov-2018
News
Meritor's fiscal year 2018 net income falls 63.9% y/y to USD117 million
Meritor has reported a fall of 63.9% year-on-year (y/y) in its net income to USD117 million for the fiscal year ended 30 September 2018, according to a company press release on 14 November. Sales for the 12-month period touched USD4.17 billion, which is a growth of 25% y/y. Operating income during the period also increased strongly, by 53.1% y/y, to USD317 million The f...
15-Nov-2018
News
Bridgestone’s net income rises 11% y/y to USD1.9 billion in January-September 2018
Bridgestone’s net income increased 11% year-over-year (y/y) to JPY219.5 billion in the first nine months ended 30 September 2018, the Japan-based tire-maker said in a press release on 8 November. Net sales for the period grew marginally by 0.4% y/y to JPY2.7 trillion. Despite marginal growth in sales, the company witnessed a 3% y/y drop in operating income to JPY290.8 bi...
14-Nov-2018
News
Hyundai CRADLE establishes office in Israel
Hyundai CRADLE, the corporate venture capital arm of Hyundai Motor Group, has established an office in Tel Aviv, Israel, the South Korean automaker said in a press release on 6 November. CRADLE Tel Aviv is Hyundai CRADLE’s second office worldwide after CRADLE Silicon Valley, which was established last year in California, the United States. Hyundai CRADLE has been inve...
14-Nov-2018
News
STMicroelectronics to display smart driving solutions at Electronica 2018
STMicroelectronics is displaying its smart driving solutions at Electronica 2018 (13-16 November) in Munich, Germany, the company said in a press release. The company’s solutions for smart driving include products and technologies in the areas of advanced driver assistance systems (ADAS) and secured infotainment and telematics. The display at the event includes in-cabin ...
14-Nov-2018
News
Pioneer reports higher net loss in Q2 on lower sales
Pioneer’s net loss increased to JPY3.27 billion in the second quarter ended 30 September 2018 compared with net loss of JPY614 million a year earlier, the Japanese automotive supplier said in a press release on 7 November. The company also recorded operating loss of JPY113 million against operating profit of JPY2.29 billion. Pioneer higher net loss and operating loss in ...
14-Nov-2018
News
Hyundai, Kia invest USD250 million in Grab
Hyundai Motor Group has expanded its strategic partnership with Grab, the two companies said in a joint press release on 7 November. As part of the latest agreement, Hyundai and Kia, the two automotive brands of Hyundai Motor Group, have agreed to invest an additional USD250 million in the latest financing round of Grab. With the latest investment from Hyundai Motor Group,...
14-Nov-2018
News
Sanden reports USD10.4 million net loss for H1 FY 2018/19
Sanden has reported a net loss of JPY1.18 billion (USD10.4 billion) for the first half year ended 30 September 2018, compared with a net profit of JPY2.4 billion in the same period of last fiscal year, according to a company press release on 7 November. Net sales for the April to September period fell by 2.8% year-on-year (y/y) to JPY137.5 billion. Operating income for the...
14-Nov-2018
News
ZF to start volume production of electric axle drive module for European OEM in 2019
ZF will start volume production of electric axle drive module for European OEMs in 2019, according to a company press release on 8 November. The electric axle drive module will feature a maximum power of 150 kW and 3,500 Nm of torque. According to ZF, the electric axle is ideal as an all-electric drive for battery-powered, fuel-cell or hybrid electric vehicles. Sig...
14-Nov-2018
News
ABB to open new e-mobility R&D center in Netherlands
Swiss technology company ABB is set to open its global headquarters and a new research and development (R&D) center for electromobility on the TU Delft Campus, Heertjeslaan (Netherlands), the company announced in a press release on 6 November. ABB plans to invest USD10 million in the 3,600-square meter facility, which is scheduled to be completed in 2019. “The inv...
14-Nov-2018
News
Opel plans to install 160 EV charging station at Rüsselsheim Engineering Center in Germany
Opel is planning to set up an intelligent charging and infrastructure system for electric vehicles (EV) with 160 EV charging stations at its Rüsselsheim Engineering Center in Germany, the company announced in a press release on 7 November. Installation of the first charging stations at the Opel site in Rüsselsheim and the Test Center in Rodgau-Dudenhofen is scheduled to ...
14-Nov-2018
News
China Automotive Systems reports USD377,000 net income for Q3
China Automotive Systems (CAS) has reported a net income of USD377,000 for the third quarter ended 30 September 2018, compared with a net income of USD5 million in the same period last year, the China-based power steering components and systems supplier said in press release on 9 November. Net sales for the period were down 5.3% y/y to USD112.1 million. Income from operati...
14-Nov-2018
News
Continental invests USD10.3 million in new synthetic leather material facility in US
Continental has invested USD10.3 million to expand its synthetic leather materials facility in Winchester, Virginia (United States). The facility makes high end synthetic leather materials that are used in transportation, recreation and hospitality markets. The investment includes a raw material storage area, new mixing and production equipment as well as upgrades to exist...
14-Nov-2018
News
Toyo Tires supplies tires for new Audi Q8 in North American market
Toyo Tire & Rubber Co., Ltd. is supplying its ‘Celsius CUV A’ tires as original equipment (OE) for Audi’s new Q8 sport utility vehicle (SUV), which the automaker will begin selling in the North American market from this autumn, according to a company press release on 8 November. The tire-maker is supplying tires in 275/50 R20 113H size. Significance: According...
14-Nov-2018
News
Continental plans to increase usage of artificial intelligence in product development
Continental plans to increase the usage of artificial intelligence (AI) technology in new product development, the Germany-based automotive supplier said in a press release on 12 November. The company sees AI as a key technology in further development of advanced driver assistance systems (ADAS). According to Continental, AI will allow vehicle systems to recognize pedestri...
13-Nov-2018
News
Alpine Electronics, NNG’s subsidiary collaborate on secure infotainment system development
Alpine Electronics has teamed up with Arilou Information Security Technologies, a part of NNG Group, to develop secure vehicle infotainment systems, NNG said in a press release on 12 November. Under the collaboration, the two companies are working on a concept of an infotainment system which secures the vehicle’s CAN (controlled area network) bus against malicious h...
13-Nov-2018
News
SKF appoints Ralph Bast president of Global Automotive Bearing business
SKF has appointed Ralph Bast as the new president for its Global Automotive Bearing business, the company announced in a press release late last month. Bast has joined SKF from ZF Friedrichshafen AG, where he was  senior vice president automatic transmissions. Bast joined SKF on 15 October 2018. SKF also announced the appointment of Norbert Neumann as president of ...
13-Nov-2018
News
CATL to supply battery cells for BMW’s all-electric iNEXT from 2021
BMW is set to source battery cells for its all-electric sport utility vehicle (SUV) iNEXT from Contemporary Amperex Technology (CATL) from 2021 onwards, the automaker announced in a press release on 7 November. The two companies signed a long-term contract worth EUR4 billion (USD4.5 billion). CATL will produce the battery cells at its new cell manufacturing plant in E...
13-Nov-2018
News
Eaton wins funding for new engine valve train actuation system from Czech government
Eaton has received funding from the Government of Czech Republic for a joint research and development (R&D) program with the Czech Technical University in Prague to develop new engine valve train actuation system, according to a company press release on 12 November. Eaton European Innovation Center’s (EEIC) new program will get an investment of USD1.5 million, which ...
13-Nov-2018
News
Hella joins BAIC-led consortium to develop intelligent mobility infrastructure in Beijing
Hella has joined a consortium led by Chinese automaker BAIC to develop intelligent mobility infrastructure in Beijing, China, the Germany-based company said in a press release on 11 September. Hella is one of the 13 members of the consortium which is developing solutions that enable communications between vehicles and their environment, for example, via traffic lights...
13-Nov-2018
News
Osram develops new laser for lidar applications
Osram Opto Semiconductors, a company of Germany-based automotive lighting and electronics supplier Osram, has developed a new laser, SPL DS90A_3, for lidar applications, Osram said in a press release on 12 November. The new laser can be operated at high currents up to 40A and achieves a power output of 125W. The automotive qualified SPL DS90A_3 offers long life and high ef...
13-Nov-2018
News
Sogefi supplies new diesel fuel filter module to PSA Group
Sogefi is supplying its new plastic diesel fuel filter module for PSA group’s new generation 1.5L HDi engine, the company announced in a press release on 8 November. The 1.5L diesel engine with Sogefi’s diesel fuel filter module is equipped in 2017 Peugeot 508, 5008, 208, Citroën C3, C4 and Opel/Vauxhall Crossland X. “This filter accumulates some of Sogefi's very co...
13-Nov-2018
News
Infineon FY 2017/18 net income up 36% y/y to USD1.25 billion
Infineon’s net income increased 36.1% year-over-year (y/y) to EUR1.07 billion (USD1.25 billion) in the financial year ended 30 September 2018, the Germany-based automotive electronics company said in a press release on 12 November. Full-year revenue increased 7.6% y/y to EUR7.6 billion. Infineon recorded 49.4% y/y growth in operating income to EUR1.47 billion. The com...
13-Nov-2018
News
Rheinmetall’s Q3 net sales up 3.2% y/y to USD1.6 billion
Rheinmetall has reported a growth of 3.2% year-on-year (y/y) in sales to EUR1.41 billion (USD1.6 billion) for the third quarter ended 30 September 2018, according to a company press release on 8 November. Operating earnings for the same period grew by 1% y/y to EUR98 million and earnings after tax totaled EUR85 million compared with EUR45 million in the third quarter of 20...
13-Nov-2018
News
Linamar’s Q3 net income up 5.4% y/y to USD87.6 million
Canada-based auto parts maker Linamar has reported a growth of 5.4% year-on-year (y/y) in net earnings to CAD113.2 million (USD87.6 million) for the third quarter ended 30 September 2018, according to a company press release on 7 November. Net sales for the quarter touched CAD1.83 billion, which is a growth of 18.5% y/y. Operating earnings for the quarter totaled CAD161.4 ...
13-Nov-2018
News
Toyoda Gosei to launch ‘Corporate Venture Capital Department’ in 2019
Toyoda Gosei plans to establish ‘Corporate Venture Capital Department’ next year to invest in potential start-ups and venture capital to accelerate open innovation and commercialization of new products and technologies, the Japanese supplier said in a press release on 9 November. The new department will primarily target four key areas: robotics, semiconductors, next-ge...
13-Nov-2018
Analysis
Active suspensions help introduce 48-volt systems
The need for more power without spending too much on it to meet emission regulations is a tightrope that automakers and suppliers alike are walking on. The 48-volt architecture is considered helpful in this situation. With traditionally mechanical components being given electric assistance or made fully electric, the average car’s power requirement has shot up. Adding in...
12-Nov-2018
News
Schaeffler plans to reorganize UK operations
Schaeffler is planning to reorganize its operations in the United Kingdom by reducing its manufacturing footprint in the country, the company announced in a press release on 6 November. Schaeffler informed that it “will retain a meaningful presence in the UK but will reduce its overall footprint and relocate some of its UK production to other existing sites outside the c...
12-Nov-2018
News
LG Chem to appoint Hak Cheol Shin as new vice-chairman and CEO
South Korea–based LG Chem will apploint Hak Cheol Shin as the new vice-chairman and CEO, the company announced in a press release on 9 November. This is the first time that LG Chem nominates a CEO from outside the company. Most recently, Cheol served as the vice-chairman and executive vice-president of 3M, where he was leading 3M’s overseas business. Cheol had ...
12-Nov-2018
News
NXP develops new Battery Cell Controller portfolio for automotive battery management systems
NXP Semiconductors has developed a new Battery Cell Controller portfolio for automotive battery management systems, the company announced in a press release on 7 November. The battery cell controllers can be used by automakers to deliver the next generation of hybrid and electric vehicles with greater speeds and fewer development risks by advancing measurement ca...
12-Nov-2018
News
Rheinmetall to supply coolant valves to two Chinese automakers
Rheinmetall’s subsidiary Pierburg GmbH has won two orders for coolant valves from two Chinese automakers, the company announced in a press release on 6 November. The two orders have a combined value of EUR25 million (USD28.4 million). The coolant valves will be equipped in various models of the auto brands, including in sport utility vehicles (SUV), in both China and the...
12-Nov-2018
News
Delphi Technologies’ Q3 net income falls 50% y/y to USD39 million
Delphi Technologies has reported a fall of 50% year on year (y/y) in its net income, to USD39 million, for the third quarter (ended 30 September) of fiscal year (FY) 2018, according to a company press release on 7 November. Net sales during the quarter also dropped, by 3.8% y/y, to USD1.15 billion. Operating income decreased by 28.3% y/y, to USD81 million, in the third qua...
12-Nov-2018
News
ElringKlinger's Q3 net income falls 32.9% y/y to USD12.5 million
ElringKlinger has reported a fall of 32.9% year on year (y/y) in its net income, to EUR10.8 million (USD12.5 million) for the third quarter ended 30 September 2018, according to a press release on 6 November. Revenue for the quarter increased marginally, by 0.5% y/y, to EUR405.8 million. ElringKlinger’s order intake also increased by 8.1% y/y to EUR411.8 million, and ord...
12-Nov-2018
News
Continental’s Q3 net income drops 14.1% y/y to USD726.4 million
Continental has reported a 14.1% year-on-year (y/y) decline in net income, to EUR626.1 million (USD726.4 million) for the third quarter ended 30 September 2018, the company said in a press release on 8 November. The company also witnessed a 17.9% y/y drop in EBIT, to EUR851.6 million; the EBIT margin was 13.1%. Sales in the third quarter improved marginally, by 0.9% y/y, t...
12-Nov-2018
News
Gentherm appoints Mark A. Potesta as senior vice-president and CTO
Gentherm has appointed Mark A. Potesta as senior vice-president and chief technology officer (CTO), effective today, the US-based thermal management technologies supplier announced last week. As CTO, Potesta will lead technology strategy of Gentherm to deliver advanced thermal solutions for both automotive and medical applications. He will also offer functional leadership ...
12-Nov-2018
News
TDK, Aito to jointly develop new haptic solutions for automotive applications
TDK Electronics, a subsidiary of TDK Corporation, has joined forces with the Netherlands-based Aito for the development and supply of touch response solutions for automotive applications, the two companies said in separate press releases last week. The jointly developed solutions will be based on TDK’s portfolio of piezo actuators with haptic feedback and Aito’s Haptic...
12-Nov-2018
News
Yokohama Rubber’s net profit down 25.5% y/y to USD143 million in January–September 2018
Yokohama Rubber’s net income declined 25.5% year on year (y/y), to JPY16.26 billion, in the first nine months (ended 30 September) of fiscal year (FY) 2018, the Japan-based tire company said in a press release on 9 November. The company recorded an 8.2% y/y decline in operating profit, to JPY26.95 billion. Yokohama reported a decline in earnings in the first nine months ...
12-Nov-2018
News
SupplierInsight Weekly – 12 November 2018
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12-Nov-2018
News
Toyoda Gosei commences operations at new automotive parts plant in India
Toyoda Gosei’s Indian subsidiary, Toyoda Gosei Co., Ltd., has begun operations at its new automotive parts plant in Gujarat, the company announced in a press release on 6 November. The Gujarat plant of Toyoda Gosei Minda India Pvt. Ltd. (TGMIN) will supply airbags, steering wheels, weatherstrips, and other parts to Suzuki Motor Gujarat Pvt. Ltd. The plant, spanning acros...
12-Nov-2018
News
GF to supply lightweight EV components to European, Chinese OEMs
GF Casting Solutions, a division of GF, has received new orders from Chinese and European car manufacturers to supply lightweight components for a new generation of electric vehicles (EVs) in China, according to a company press release on 8 November. The new orders amount to approximately CHF370 million (about USD370 million). One major order worth CHF235 million from a...
12-Nov-2018
News
voestalpine’s first-half net profit down 18.7% y/y to USD366.8 million
voestalpine has reported an 18.7% year-on-year (y/y) decline in net profit, to EUR316.2 million (USD366.8 million) for the first six months (ended 30 September) of fiscal year (FY) 2018/19, according to a company press release on 7 November. Revenues for the year grew 5.9% y/y, to EUR6.67 billion. Despite higher sales, the company recorded a 17.9% y/y decline in EBIT, to E...
12-Nov-2018
News
Osram’s FY 2018 net income down 37.7% y/y to USD158.9 million
Osram has reported a 37.7% year-on-year (y/y) decline in net income (attributable to shareholders of OSRAM Licht AG), to EUR137 million (USD158.9 million) for the fiscal year (FY) ended 30 September 2018, the Germany-based lighting systems supplier said in a press release on 7 November. Revenue for the period declined marginally, 0.3% y/y, to EUR4.11 billion. Its income be...
12-Nov-2018
News
Harman opens new office in Poland to focus on automotive software development
Harman has opened a new office in Lodz, Poland to develop software for automotive applications, the US-based supplier said in a press release on 8 November. The company’s new office will employ 350 engineers, who will be developing Harman’s advanced automotive solutions, including its Summit car audio platform, the Ignite cloud platform, and over-the-air (OTA) software...
12-Nov-2018
News
Magna's Q3 net income up 8.2% y/y to USD554 million on higher sales
Magna’s net income increased 8.2% year over year (y/y) to USD554 million in the third quarter ended 30 September 2018, the Canada-based automotive supplier said in a press release on 8 November. Sales in the quarter were up 8.5% y/y, to USD9.62 billion. Excluding the impact of foreign currency translations and net divestures, Magna recorded 11% y/y growth in organic sale...
12-Nov-2018
News
Daimler, Bosch select California’s San Jose as pilot city for autonomous ride-hailing service
Daimler and Bosch have selected San Jose in California, United States, as the first pilot city for its on-demand ride-hailing service, the two companies said in a joint press release on 8 November. The two Germany-based companies will commence a trial of highly and fully automated driving (SAE level 4/5) ride-hailing service in the third-largest city of California dur...
12-Nov-2018
News
Adient reports USD1.68-billion net loss for FY 2018
Adient has reported a net loss of USD1.68 billion for the financial year (FY) ended 30 September 2018, compared with a net profit of USD877 million in the previous FY, according to a press release by the US-based automotive seating supplier on 9 November. The company recorded sales growth of 7.4% year on year (y/y) to USD17.43 billion for the year, which was in line with i...
12-Nov-2018
Analysis
Advanced thermal management for battery electric vehicles – A first in China
According to IHS Markit forecasts, one in five light vehicles produced in major production regions will be a full hybrid electric vehicle (HEV) or battery electric vehicle (BEV) by 2025. This means that as the volumes rise, investments will begin to make financial sense to manufacturers rather than being just a niche indulgence. Current IHS Markit data indicates that the b...
09-Nov-2018
News
Milbrook expands ADAS testing facilities in UK
Millbrook is expanding its advanced driver assistance systems (ADAS) testing facilities in the United Kingdom to enable its customers to test connected and autonomous vehicle (CAV) technologies, Milbrook said in a press release last month. It is investing in modifications to existing road and test track infrastructure as well as in high-precision instrumentation and soft t...
09-Nov-2018
News
Cohda tests self-driving connected vehicles in Australian city Adelaide
On 28 October, Cohda Wireless held first demonstration of self-driving connected vehicles in Adelaide CBD (central business district), Australia, the company said in a press release. The demonstration showed how smart connected vehicles can make Australian roads safer.     Cohda performed the demonstration in an area covering two city blocks on Flinders S...
09-Nov-2018
News
Ridecell gets permit to test self-driving vehicles in California
Ridecell has announced that its self-driving vehicle division Auro has been granted a license to test self-driving vehicles on public roadways in California, United States, the company said in a press release. “Receiving a California autonomous testing permit signals an important expansion of our new mobility product offering,” said Aarjav Trivedi, CEO of Ridecell. “...
09-Nov-2018
News
Nokian Tyres’ Q3 net profit up more than sixfold y/y to USD75.6 million
Finnish tire-maker Nokian Tyres has reported a more than sixfold year-on-year (y/y) growth in net income to EUR65.2 million (USD75.6 million) for the third quarter ended 30 September 2018, according to a company press release on 31 October. Net sales for the period were, however, down 1.2% y/y to EUR356.9 million. The company posted a 4.3% y/y decline in operating profit t...
09-Nov-2018
News
TS Tech’s H1 net profit down 11.4% y/y to USD101.7 million
TS Tech has reported a 11.4% year-on-year (y/y) decline in net income to JPY11.6 billion (USD101.7 million) for the first six months ended 30 September 2018, the company said in a press release on 31 October. Revenue for the period also fell, by 9.5% y/y, to JPY202.3 billion, which led to a 19.7% y/y decline in operating income to JPY18.6 billion. TS Tech operates its b...
09-Nov-2018
News
Central Glass’ H1 net profit up 127.9% y/y to USD323.7 million
Central Glass has reported a more than twofold year-on-year (y/y) growth in net profit to JPY4.3 billion (USD323.7 million) for the first six months ended 30 September 2018, the company said in a press release on 31 October. Net sales for the period were up 2.1% y/y to JPY112.3 billion. The company’s operating profit was also up 74.9% y/y to JPY4.7 billion. Sales in t...
09-Nov-2018
News
Veoneer appoints Nishant Batra as executive vice president and CTO
Veoneer has appointed Nishant Batra to the new position of executive vice-president and chief technology officer (CTO), the company said in a press release. “I would like to take this opportunity to warmly welcome Nishant Batra to Veoneer. His strong track record in managing rapid pace innovation will be crucial to Veoneer’s success moving forward”, said Jan Carlson,...
09-Nov-2018
News
Sundram Fasteners’ Q2 net profit up 22% y/y to USD15.1 million
Sundram Fasteners has reported a growth of 22% year-on-year (y/y) in net profit to INR1.1 billion (USD15.1 million) during the second quarter ended 30 September 2018, according to a regulatory  filing on Bombay Stock Exchange on 29 October. Total revenues during the three-month period grew 22.3% y/y to INR10.1 billion. This includes export sales of INR3.3 billion, whi...
09-Nov-2018
News
Cummins' Q3 net income up 52.7% y/y to USD692 million
Cummins has reported a growth of 52.7% year-on-year (y/y) in its net income to USD692 million for the third quarter ended 30 September 2018, according to a company press release on 30 October. Net sales for the quarter totaled USD5.9 billion, which is a growth of 12% y/y. Operating income for the three months grew 29% y/y to USD803 million. Among the divisions, Cummins...
09-Nov-2018
News
Mitsubishi Heavy Industries reports USD224.5 million net profit for H1 2018
Mitsubishi Heavy Industries (MHI) has reported a net profit of JPY25.4 billion (USD224.5 million) during the first half year ended 30 September 2018, compared to a loss of JPY2.9 billion in the same period last year, according to a press release on 31 October. Net revenue of MHI also increased by 2.4% year-on-year (y/y)  to JPY1.9 trillion. MHI, however, witnessed a f...
09-Nov-2018
News
Volkswagen (VW) uses quantum computer to develop traffic management system
At the WebSummit technology conference in Lisbon (Portugal) this week, Volkswagen (VW) announced that it had developed a traffic management system using quantum computing technology, the company said in a press release on 6 November. The new system is expected to replace forecasting for urban traffic volume, transport demand and travel time more accurately. It will he...
08-Nov-2018
News
Bosch showcases comprehensive MEMS sensor solutions at Electronica 2018
Bosch will showcase its comprehensive lineup of micro-electric mechanical system (MEMS) sensors at the Electronica 2018 exhibition in Munich (Germany) next week (13 to 16 November), the company said in a press release on 5 November. The company will display its new SMI860 five-axis inertial sensor which optimizes electronic stability program (ESP), driver assistance system...
08-Nov-2018
News
Generation Investment Management invests in HD mapping start-up DeepMap
DeepMap has received an undisclosed investment from Generation Investment Management, the US-based start-up developing high-definition (HD) mapping and localization solutions for autonomous driving said in a press release last week. The UK-based investment firm joins DeepMap’s existing investors which include Andreessen Horowitz, Accel Partners, GSR Ventures, and Robert ...
08-Nov-2018
News
Röchling Automotive develops ‘Advanced Active Cleaning System’ for vehicles
Röchling Automotive has developed an intelligent cleaning concept called ‘Advanced Active Cleaning System (AACS),’ the company said in a press release. The new cleaning system keeps windshields, sensors and cameras mud- and dust-free for safe driving. The AACS enables cleaning of contaminated zones of the vehicle in a targeted and demand-driven way, thus meeting one o...
08-Nov-2018
News
Saint-Gobain’s Q3 sales up 1.8% y/y to USD12 billion
Saint-Gobain has reported a 1.8% year-on-year (y/y) growth in sales to EUR10.3 billion (USD12 billion) for the third quarter ended 30 September 2018, the France-based automotive glazing supplier announced in a press release. The compamy’s sales increased in France by 3.3% y/y to EUR2.56 billion and in other western European countries by 2.6% y/y to EUR4.6 billion. Saint-...
08-Nov-2018
News
Covestro’s Q3 net income up marginally y/y to USD575.4 million
Covestro’s net income improved marginally by 1% year-on-year (y/y) to EUR496 million (USD575.4 million) in the third quarter ended 30 September 2018, the Germany-based company said in press release. Net sales for the period were up 4.8% y/y to EUR3.7 billion. The company's EBITDA and EBIT remained stable at EUR859 million and EUR707 million, respectively. Free operating ...
08-Nov-2018
News
Texas Instruments launches reinforced isolated CAN FD transceivers for automotive applications
Texas Instruments (TI) has launched two new isolated Controller Area Network (CAN) flexible data rate (FD) transceivers for automotive applications, the company announced in a press release on 1 November. The company claims its new 'ISO1042' and 'ISO1042-Q1' transceivers combine the industry's highest bus fault protection, highest common-mode transient immunity (CMTI), and...
08-Nov-2018
News
ON Semiconductor to showcase advanced automotive solutions at SAECCE 2018
ON Semiconductor is showcasing its automotive solutions in areas of advanced driver assistance systems (ADAS) and vehicle electrification at the China-SAE Congress and Exhibition (SAECCE) in Shanghai (China) this week (6-8 November), the US-based company said in a press release last week. In the field of ADAS, the company is displaying a complete solution for a driver moni...
08-Nov-2018
News
AAM appoints Herbert K. Parker to board of directors
American Axle & Manufacturing (AAM) has appointed Herbert K. Parker to its board of directors, the company announced in a press release on 5 November. Most recently, Parker served as executive vice-president of Operational Excellence at Harman International from 2015 to March of 2017, when he retired. He was responsible for mergers & acquisitions, information techn...
08-Nov-2018
News
BMW's EV sales in October fall 8.5% y/y to 1,836 units in US
BMW Group has reported an 8.5% year-on-year (y/y) drop in combined sales of BMW and MINI electrified vehicles to 1,836 units in the United States during October, the company announced in a press release on 1 November. Sales of BMW and MINI electrified vehicles, which include plug-in hybrid electric vehicles (PHEV) and battery electric vehicles (BEV), accounted for 7.4...
08-Nov-2018
News
Protean Electric, Linamar enter manufacturing partnership
Protean Electric has entered into a manufacturing partnership with Canada-based Linamar for its in-wheel drive system ‘ProteanDrive’, Linamar announced in a press release on 1 November. Under the agreement, Linamar will provide manufacturing capacity for ProteanDrive to support market opportunities in all passenger car and commercial vehicle segments for North American...
08-Nov-2018
News
Fortum installs new EV fast charger in Finland
Fortum Charge & Drive has opened a new electric vehicle (EV) charger in Finland on the Helsinki-Turku motorway, the company announced in a press release on 1 November. The charging point has a power output of 150kW which gives around 125 kilometer range with just 10 minutes of charging. Fortum informed that the charger can be upgraded in the future to deliver charging ...
08-Nov-2018
News
Alpine Electronics’ H1 net income more than doubles y/y to USD43.7 million
Alpine Electronics’ net income more than doubled year on year (y/y) to JPY4.98 billion (USD43.7 million) in the first half ended 30 September 2018, the Japan-based automotive electronics company said in a press release last week. The company’s operating income also doubled y/y to JPY7.62 billion. Alpine Electronics recorded strong earnings growth in the first half of F...
07-Nov-2018
News
Garmin’s Q3 net income up 21.9% y/y to USD184.2 million
Garmin’s net income increased 21.9% year-over-year (y/y) to USD184.2 million in the third quarter ended 29 September 2018, the Switzerland-based company said in a press release last week. Net sales increased by 7.8% y/y to USD810 million. Higher sales also helped Garmin report operating income of USD196 million, up 12.9% y/y, resulting in operating margin of 24.2% over 2...
07-Nov-2018
News
Karamba integrates Carwall ECU hardening software on STMicroelectronics’ telematics solution
Karamba Security has integrated its Carwall electronic control unit (ECU) hardening software on STMicroelectronics’ Telemaco3P STA1385 automotive telematics and connectivity processor, STMicroelectronics said in a press release. The combined solution offers advanced cybersecurity features for both content and runtime integrity verification by detecting attempts at modifi...
07-Nov-2018
News
Goodyear’s Q3 net income up more than twofold y/y to USD351 million
Goodyear has reported a more than twofold year-over-year (y/y) increase in net income to USD351 million for the third quarter ended 30 September 2018, the US-based tire-maker said in a press release on 26 October. Sales remained almost stable y/y at USD3.92 billion. The company’s segment operating income dropped 1.3% y/y to USD362 million. In terms of segments, Goodye...
07-Nov-2018
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