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News
Wipro, Genesys join forces to develop solutions for autonomous vehicles
Wipro Limited and Genesys International have signed a memorandum of understanding (MOU) to jointly develop solutions of autonomous driving, The Economic Times reported last week. Under the agreement, Genesys will use its expertise to develop high-definition (HD) map and content, and Wipro will develop the navigational and control technology for autonomous system and smart ...
17-Aug-2018
News
Local Motors supplies Olli self-driving shuttle to University of Buffalo for mobility testing
Local Motors has supplied its Olli self-driving shuttle to the University of Buffalo, New York (United States) for mobility testing, the company said in a press release last week. The University of Buffalo will use Olli for autonomous vehicle education and mapping while also testing the shuttle for campus transportation. The project is jointly managed by the New York State...
17-Aug-2018
News
NAVYA, Keolis team up to launch autonomous shuttle pilot project in Canada
NAVYA, a start-up developing self-driving vehicle technology, has partnered with Keolis Canada to launch an autonomous shuttle pilot project in Candiac, near Montreal (Canada), NAVYA said in a press release last week. Under the pilot project, NAVYA’s AUTONOM shuttle will transport users on a 2-kilometer route. The designated route will have several stops to mee...
17-Aug-2018
News
Henkel’s Q2 net income down 4.2% y/y to USD696.5 million
Henkel’s net income declined 4.2% year on year (y/y) to EUR598 million (USD696.5 million) in the second quarter ended 30 June 2018, the company said in a press release yesterday (16 August). Sales improved marginally, by 0.9% y/y, to EUR5.14 billion. The company reported organic growth in sales of 3.5% y/y. EBIT for the period fell 3% y/y to EUR814 million, while ad...
17-Aug-2018
News
Continental develops sensor to adjust vehicle height
Continental has developed a new sensor capable of adjusting height of vehicles electronically, the company announced in a press release on 16 August. The new Ultrasonic Height and Pressure Sensor (UHPS) can measure the height and pressure of air springs using ultrasound, explained the German supplier. Continental will present the new sensor at the IAA Commercial Vehicles n...
17-Aug-2018
News
Maxion Wheels to present lightweight commercial vehicle wheels at REIFEN 2018
Maxion Wheels will present its lightweight commercial vehicle wheels at the 2018 REIFEN, which is a tire and wheel industry event to be held in Europe next month, according to a company press release. Significance: Maxion Wheels, a division of Brazil-based auto parts supplier Iochpe-Maxion S.A, produces wheels for passenger cars, light and commercial trucks, and trailer...
17-Aug-2018
News
GM, Audi recall vehicles in Australia over airbag defects
General Motors (GM) Holden and Audi are recalling a combined 30,943 vehicles in Australia over potentially faulty Takata airbag inflators, according to separate recall notices on the Australian Competition and Consumer Commission (ACCC)'s website. GM Holden will recall 4,795 units of model year (MY) 2012-2017 Holden/Opel Astra, MY 2014-2017 Holden Cascada and MY 2013 Opel ...
17-Aug-2018
News
Vibracoustic develops new air spring concepts
Vibracoustic has developed new air spring concepts that can significantly increase ride comfort for passengers in a vehicle, according to a company press release yesterday (16 August). The new air spring concepts are capable of switching between up to four different degrees of stiffness through intelligent switching, which makes driving more comfortable and safer.&nbs...
17-Aug-2018
News
GM, Shell expand in-dash fuel payment across US
Shell Oil Company, an affiliate of Royal Dutch Shell, has announced that its Shell-branded fuel stations across the United States now accept in-dash fuel payment from GM vehicles, the company said in a press release on 16 August. Customers of eligible Chevrolet, Buick, GMC and Cadillac brand vehicles can use Shell Pay & Save within GM Marketplace to pay for their fuel,...
17-Aug-2018
News
Nuro, Kroger to test self-driving vehicle for grocery delivery in US
Nuro, a start-up developing self-driving vehicle technology, and food retail chain Kroger have selected Scottsdale in Arizona to pilot autonomous delivery service beginning 16 August, Nuro announced yesterday in a blog posted on Medium. Kroger-owned Fry’s Food store in Scottsdale will start delivering groceries using self-driving fleet operated by Nuro. Interested c...
17-Aug-2018
News
ZAF Energy Systems receives USD300,000 funding from Missouri
ZAF Energy systems has received USD300,000 funding from Missouri’s Department of Economic Development (DED) fund as part of the state’s Venture Capital Co-Investment Program, the company announced in a press release last month. This is the first instalment of USD600,000 investment approved for ZAF Energy Systems by Missouri. ZAF informed that it will use the funds to h...
17-Aug-2018
News
Kenworth equips T680, T880 and T880S with Cummins Westport natural gas engines
US-based truck maker Kenworth has equipped its T680, T880 and T880S models with Cummins Westport’s L9N near zero NOx emissions natural gas engine, the company announced in a press release on 10 August. According to Kensworth, the L9N engine is certified to the California Air Resources Board (CARB) optional low NOx standard of 0.02 g/bhp-hr. “The Kenworth T680, T880 ...
17-Aug-2018
News
Solaris introduces remote diagnostic system for electric buses
Solaris has introduced a remote diagnostics system ‘eSConnect’ for its electric buses produced in Bolechowo, Poland, the company announced in a press release on 14 August. The system will be used to streamline and support diagnostic solutions, improve maintenance options and to facilitate the analysis of specialist data derived from vehicles produced in Bolechowo. Sola...
17-Aug-2018
News
Siemens partners with ubitricity to offer EV charging through street lamps in London
Siemens and ubitricity have partnered to develop street residential electric vehicle (EV) charging points using existing street light infrastructure, Siemens announced in a press release on 16 August. The street light EV charging infrastructure will be built under the Go-ultra Low City Scheme framework, which has been started by Transport for London (TFL), London Councils ...
17-Aug-2018
News
Furukawa Battery signs license agreement with Exide for ‘UltraBattery’ production in India
Japanese battery maker Furukawa Battery has signed a sub-license agreement with India-based Exide Industries for production and sale of ‘UltraBattery’ in the Indian automotive market, the company announced in a press release on 16 August. Furukawa Battery said that it will contribute to the expansion and stabilization of UltraBattery business in India by supporting Exi...
17-Aug-2018
News
Renesas instrument cluster MCU adopts Micronix Read-While- Write flash
Renesas has selected Micronix International’s MX25LW5124G Read-While-Write (RWW) Flash for its RH850/D1M1A automotive instrument cluster microcontroller (MCU) for over-the-air (OTA) update, Taiwan-based Micronix said in a press release last week. The Japanese automotive electronics supplier has implemented a dedicated octa- peripheral interface on its MUC to support Macr...
16-Aug-2018
News
Bosch develops electric powertrain for delivery vehicles
Bosch has developed a new electric powertrain for light commercial vehicles used in delivery services, the Germany-based automotive supplier said in a press release today (16 August). The company’s new “eCityTruck” powertrain combines multiple components, such as an electric motor and powertrain, into one unit. This makes the powertrain more efficient and affordable,...
16-Aug-2018
News
New York City introduces cap for ride-hail vehicles
Last week, the New York City Council passed a regulation on ride-hailing companies such as Uber and Lyft to cap the number of for-hire vehicles on the road for a year, reports The New York Times. The regulation also allows New York to set a minimum pay rate for drivers. “We are pausing the issuance of new licenses in an industry that has been allowed to prolife...
16-Aug-2018
News
Nexteer’s H1 net income rises 11.1% y/y to USD200 million
Nexteer Automotive has reported 11.1% year-over-year (y/y) increase in net income to USD200 million  for the first half ended 30 June 2018, the US-based company said in a press release on 14 August. Revenue increased 3.7% y/y to USD2.05 billion. The company’s EBITDA increased marginally by 1.3% y/y to USD331 million  while its operating income remaine...
16-Aug-2018
News
SORL Auto Parts Q2 net income up 13.8% y/y to USD6.7 million
SORL Auto Parts has reported 13.8% year-over-year (y/y) increase in net income to USD6.7 million, the company said in a press release on 14 August. Sales for the quarter increased 40.1% y/y to USD128.5 million which helped the company record operating income of USD9.8 million, up 11.9% y/y. Revenues from SORL’s domestic OEM customers increased 35% y/y to USD62.6 milli...
16-Aug-2018
News
Ford’s Autonomic partners with Alibaba Cloud to deliver enhance mobility experience in China
Autonomic, a wholly owned subsidiary of Ford, has signed a memorandum of understanding (MOU) with Alibaba Cloud, a subsidiary of the Chinese e-commerce company Alibaba Group, to launch Autonomic’s Transportation Mobility Cloud (TMC) in China, the US automaker said in a press release on 14 August. TMC, developed by Autonomic, is an open cloud-based platform that connects ...
16-Aug-2018
News
Nippon Steel JV holds opening ceremony at new automotive steel plant in Indonesia
PT Krakatau Nippon Steel Sumikin (KNSS), Nippon Steel & Sumitomo Metal Company’s (NSSMC) joint venture (JV) with PT Krakatau Steel (Persero) Tbk (PTKS), held an opening ceremony at its new steel manufacturing plant in Cilegon, Banten Province (Indonesia), the Japan-based steel maker said in a press release on 8 August. The local manufacturing plant is expected to hel...
16-Aug-2018
News
Leoni’s Q2 net income drops 33.3% y/y to USD47.8 million despite higher sales
Leoni’s net income declined 33.3% year-over-year (y/y) to EUR41 million (USD47.8 million) in the second quarter ended 30 June 2018, the Germany-based automotive supplier said in a press release on 15 August. The company also witnessed 19.4% y/y drop in EBITDA to EUR100 million and 28.3% decline in EBIT to EUR62 million. Leoni recorded lower earnings despite reporting 6.8...
16-Aug-2018
News
Loop Energy to supply fuel-cell range extender to FAST TRACK project
Loop Energy will supply its heavy-duty fuel cell range extender system for two new zero-emission hybrid-electric Class 8 drayage trucks by Peterbilt that will operate for a one-year period in southern California under the FAST TRACK Fuel Cell Truck Project. The trucks are expected to have a range of over 200 miles (322 kilometers) on a single refueling. "To meet the com...
16-Aug-2018
News
Blue Bird launches new cleaner propane engine for school buses
US-based School bus maker Blue Bird, in partnership with Roush CleanTech, has developed a new propane engine with ultra-low NOx level, the company announced in a press release on 14 August. The school bus with the new propane engine has a NOx level of 0.02 g/bhp-hr, which is certified by both the Environment Protection Agency (EPA) and California Air Resources Board (CARB)...
16-Aug-2018
News
New software upgrade increases torque distribution to rear wheels of AWD Volvo cars
Volvo Cars has upgraded the software of its all-wheel drive (AWD) cars to increase torque distribution to the rear wheels, the company announced in a press release on 15 August. Developed by Polestar, Volvo’s electrified performance car brand, the software allows for more dynamic driving. The Polestar AWD optimisation will be available for petrol and diesel models of Vol...
16-Aug-2018
News
Penske Truck Leasing joins CharIN association
Penske Truck Leasing has joined the Charging Interface Initiative (CharIN), the association announced in a press release on 10 August. Penske will support the promotion of electric vehicle charging standards for commercial vehicles in North America by participating with the group’s “High Power Charging for Commercial Vehicles Task Force” (HPCCV Task Force). “As ...
16-Aug-2018
News
US DOE to invest USD38 million in 28 projects for hydrogen and fuel cell technology development
The United States Department of Energy (DOE) has announced funding of USD38 million for 28 early-stage hydrogen and fuel cell research and development projects, according to a DOE press release on 14 August. The projects selected under the funding will largely work on three areas: platinum-free catalysts to lower fuel-cell costs, hydrogen production and delivery infrastruc...
16-Aug-2018
News
Chinese EV start-up NIO files for IPO in US
Chinese electric vehicle (EV) start-up NIO has filed for an initial public offering (IPO) of its American depositary shares on the New York Stock Exchange in the United States, according to a filing with Securities and Exchange Commission (SEC) on 13 August. NIO is looking to raise USD1.8 billion from the listing. The funding may be used by NIO for new product development,...
16-Aug-2018
News
Canada's ATUQ orders 497 electric-hybrid buses equipped with BAE Systems’ electric drive system
The Association du Transport Urbain du Quebec (ATUQ) in Canada has ordered 497 electric-hybrid buses equipped with BAE Systems’ Series-E electric drive propulsion system, BAE Systems announced in a press release on 14 August. The five-year contract includes an option for up to 1,028 additional systems. “This recent order adds to ATUQ’s more than 900 electric hybrids ...
16-Aug-2018
News
Efficient Drivetrains launches EDI PowerDrive 4000ev drivetrain for School buses
Efficient Drivetrains has launched its EDI PowerDrive 4000ev for Type-A school buses, the company announced in a press release on 14 August. The EDI PowerDrive 4000ev electrification kit comes with control software and optional telematics for vehicle analytics and real-time fleet monitoring. “The school bus industry continues to make significant progress in providing zer...
16-Aug-2018
News
KYB’s Q1 net income down 14.7% y/y to USD32.7 million
KYB Corporation has reported a 14.7% year-on-year (y/y) drop in net income to JPY3.6 billion (USD32.7 million) for the first quarter ended 30 June 2018, the company said in a press release. Operating profit for the period also fell, by 11.7% y/y, to JPY5.6 billion. KYB reported decline in earnings in the first quarter despite an 8.9% y/y increase in net sales to JPY102.1 b...
15-Aug-2018
News
Keihin’s Q1 net income up 31% y/y to USD39 million
Keihin’s net income grew 31% year on year (y/y) to JPY4.32 billion (USD39 million) in the first quarter ended 30 June 2018, according to the company’s press release on 3 August. Operating profit for the period increased 36.2% y/y to JPY7.95 billion and revenue was up 5% y/y to JPY87.3 billion. Revenue from automotive products grew 3.5% y/y to JPY62.4 billion, and sa...
15-Aug-2018
News
IHI’s Q1 net income down 47.6% y/y to USD55.4 million
IHI Corporation has reported a 47.6% year-on-year (y/y) decline in net profit to JPY6.14 billion (USD55.4 million) for the first quarter ended 30 June 2018, according to a company press release. Net sales for the period also fell, by 16.2% y/y, to JPY337.1 billion, and operating profit fell 50% y/y to JPY12.7 billion. Among its business segments, sales of Resources, Ene...
15-Aug-2018
News
AI start-up Scale raises USD18 million in Series B funding round
US-based start-up Scale has raised USD18 million in a Series B funding led by Index Ventures, Accel, and Y Combinator, Alexander Wang, co-founder and CEO of Scale announced through a blog posted on the company’s website last week. The latest funding was also joined by individual investors Dropbox CEO Drew Houston and entrepreneur Justin Kan. Following the latest funding ...
15-Aug-2018
News
Robert Bosch Venture Capital invests in DeepMap
Robert Bosch Venture Capital (RBVC), the corporate venture capital (CVC) subsidiary of Bosch, has completed an investment in DeepMap, a US-based start-up working on mapping and localization of autonomous vehicles, Bosch said in a press release on 14 August. “Maps explicitly designed to be read by machines are a critical enabling technology for safe autonomy,” said...
15-Aug-2018
News
NAVYA raises USD34.8 million from European Investment Bank
NAVYA has signed a EUR30 million (USD30.4 million) financing agreement with the European Investment Bank (EIB), the France-based company specializing in developing driverless shuttles said in a press release on 9 August. The financing is made of two tranches (A and B) of EUR15 million each; each tranche will have maturity of five years. The B tranche is subject to per...
15-Aug-2018
News
Fuji Electric’s Q1 net profit rises more than fourfold y/y to USD48.5 million
Fuji Electric has reported a more-than-fourfold year-on-year (y/y) increase in net profit to JPY5.4 billion (USD48.5 million) for the first quarter ended 30 June 2018, the Japan-based company said in a press release. The company’s operating income more than doubled y/y to JPY6.35 billion. Fuji Electric recorded strong growth in net profit and operating profit as net sale...
15-Aug-2018
News
Ibiden’s Q1 net income grows 45.4% y/y to USD24.3 million
Ibiden has reported a 45.4% year-on-year (y/y) growth in net income to JPY2.68 billion (USD24.3 million) for the first quarter ended 30 June 2018, the company announced in a press release on 7 August. Net sales for the period totaled JPY71.86 billion, up 6.3% y/y. Despite higher sales, operating income declined 2.2% y/y to JPY2.95 billion. In the Electronics segment, sa...
15-Aug-2018
News
Solaris delivers five electric buses in Norwegian city Kristiansand
Solaris Bus has delivered five 12-meter electric buses in July to Boreal Buss AS in Kristiansand, Norway, the company announced in a press release on 6 August. The total value of the deal was pegged at EUR3 million (USD 3.5 million). “We are very happy with the delivery of our buses to the capital of Southern Norway. We want to be one of the leading suppliers of zero-emi...
15-Aug-2018
News
ARPA-E announces USD35 million funding to support development of new heat exchanger technologies
Advanced Research Projects Agency - Energy (ARPA-E) of the US Department of Energy has announced that it will award USD35 million to High Intensity Thermal Exchange through the Materials and Manufacturing Processes (HITEMMP) program, according to a press release on 9 August. The funding will be for projects that will develop new approaches and technologies for th...
15-Aug-2018
News
BYD to supply nine electric buses in Canada, six in Italy
BYD Canada has won an order to supply nine long-range battery-electric buses to Société de transport de Montréal (STM) and the Réseau de transport de Longueuil (RTL), reports news website Green Car Congress. RTL will receive five 30-foot buses and STM will receive four of the same model. Additionally, BYD also won a tender to deliver six BYD 12-meter e-bus...
15-Aug-2018
News
China Yuchai's Q2 net profit falls 1.2% y/y to USD20 million
China Yuchai has reported a fall of 1.2% year on year (y/y) in its net profit to CNY132.1 million (USD20 million) for the second quarter ended 30 June 2018, according to a company press release on 10 August. Net revenues during the three-month period, however, rose 3.2% y/y to CNY4.2 billion. Operating profit also increased 12.1% y/y to CNY274.4 million during the second q...
15-Aug-2018
News
Honda launches 2019 Civic sedan, coupe with ‘Honda Sensing’ safety and driver-assist technologies
Honda has launched model year (MY) 2019 Civic sedan and coupe with the ‘Honda Sensing’ suite of safety and driver-assist technologies in the United States, the company said in a press release on 13 August. According to the Japanese automaker, all trims of the MY 2019 Civic sedan and coupe, from LX to Touring, will feature Honda Sensing as a standard feature. The compan...
14-Aug-2018
News
IAA Commercial Vehicles 2018: HELLA to showcase intelligent lighting and electronics solutions
Hella will present its intelligent lighting and electronics solutions for trucks, trailers, and buses at the IAA Commercial Vehicles 2018 in Hanover, Germany, during 20–27 September, the company said in a press release on 13 August. The company will display its VISIOTECH projection technology, which uses light to optically warn other vehicles and pedestrians or to mark o...
14-Aug-2018
News
Dongfeng Motor to accelerate 'Green 2022 Plan' rollout
Chinese automaker Dongfeng Motor Company (DFL) is looking to accelerate the rollout of its ‘Green 2022 plan’, Nissan, co-owner of Dongfeng Motor Company, announced in a press release on 13 August. Under the plan, the company plans to localize 100% of key e-components within three years as Nissan technologies, the QA system and APW production mode are introduced. Also, ...
14-Aug-2018
News
Optare to supply 31 electric double-decker buses to ‘Transport for London’
Ashok Leyland–owned Optare has won an order from Transport for London (TFL) to supply 31 units of all-electric double-decker bus ‘Metrodecker EV’, the company announced in a press release in June. The buses will be operational on TFL Route 134, running from the North Finchley bus station to Tottenham Court Road, starting next summer. “This order for our double-deck...
14-Aug-2018
News
Eurabus plans to open new electric bus assembly plant in Kazakhstan
German bus maker Eurabus is planning to open a new electric bus assembly plant in Almaty, Kazakhstan, news website Kazinform reported on 9 August citing Zhandos Orazaliyev, regional director of ‘Kazakh Invest’, a national company for investment support and promotion in Kazakhstan. Eurabus is expected to invest USD44 million in the new plant. The plant is expected ...
14-Aug-2018
News
HORIBA Automotive Test Systems to acquire FuelCon
HORIBA Automotive Test Systems (HORIBA ATS) is set to acquire Germany-based company FuelCon AG, a supplier of test systems for fuel cells and batteries, according to a press release on 10 August. The completion of the transaction is subject to regulatory clearance. "In line with global megatrends, we are witnessing the continued electrification of transport with a mix o...
14-Aug-2018
News
EVgo installs two fast charging stations in US state Washington
Electric vehicle (EV) charging infrastructure company EVgo has installed two fast charging stations at LeMay – America’s Car Museum in Tacoma, Washington (United States), the company announced in a press release on 8 August. These chargers are part of the six new EV fast-charging sites in Washington that EVgo will install along the Interstate 5 corridor in Washington s...
14-Aug-2018
News
Ford to launch new Territory midsize SUV in China with mild hybrid, plug-in hybrid variants
Ford has revealed images of its new midsize sport utility vehicle (SUV) ‘Territory’ for the Chinese market. In a press release on 8 August, Ford informed that the new SUV will come with a 48V mild hybrid variant with Miller-Cycle technology, a plug-in hybrid variant, and a pure gasoline engine variant. Ford will start selling Territory with all three variants in China ...
14-Aug-2018
News
Wheels India’s Q1 standalone net income up 38.7% y/y to USD2.6 million on higher revenue
Wheels India has reported 38.7% year-on-year (y/y) increase in its standalone net profit to INR180.1 million (USD2.6 million) for the first quarter ended 30 June 2018, the company said in a press release on 13 August. The company recorded a 38.1% y/y growth in profit before taxes (PBT) to INR273 million. Wheels India recorded a strong growth in net profit and PBT in the fi...
14-Aug-2018
News
Honda to recall 69,000 UR-Vs in China over cold-climate engine problem
Honda will recall an 69,090 UR-V sport utility vehicles (SUVs) in China to fix a cold-climate engine issue, Reuters reported last week, citing government regulators. In about 18,907 affected vehicles, an unusual amount of uncombusted gasoline (petrol) is collecting in the engine's lubricant oil pan, according to the Defective Product Administration Center of State Administ...
14-Aug-2018
News
Grab gets conditional approval for Uber deal in the Philippines
On 10 August, The Philippines Competition Commission (PCC) gave a conditional approval for Grab’s planned takeover of Uber’s operations in Southeast Asia, reports Reuters. However, the antitrust regulator expects the ride-hailing service provider to adhere to certain rules designed to keep the market fair for consumers. The PCC would monitor Grab’s compl...
14-Aug-2018
News
Lear opens new plant in US to manufacture seats
On 11 August, Lear held an opening ceremony for a new plant in Flint, Michigan (United States), the US-based supplier said in a press release yesterday. The 156,000-square-feet plant will produce seats for just-in-time delivery to General Motors’ (GM) vehicle assembly plants in Flint and in Fort Wayne, Indiana (United States). The plant will employ around 600 people...
14-Aug-2018
News
Enel secures EIB loan to set up EV charging infrastructure in Italy
Italy-based utility company Enel has secured a EUR115 million (USD134.4 million) loan from the European Investment bank (EIB) for its subsidiary Enel X Mobility, the company announced in a press release late last month. The loan is for installing over 14,000 charging stations for electric vehicles (EVs) throughout Italy between 2018 and 2022. Enel X Mobility will receive a...
13-Aug-2018
News
Solvay, Premium Aerotec, Faurecia launch consortium for production of thermoplastic composites
Solvay, Faurecia Clean Mobility, and Premium Aerotec have joined forces to launch a consortium called ‘IRG CosiMO’ (Industry Research Group: Composites for Sustainable Mobility) to develop materials and process technologies that will enable high-volume production of thermoplastic composites for automotive and aerospace markets, Solvay said in a press release last week....
13-Aug-2018
News
Hitachi’s Q1 net income up 40.3% y/y to USD950.3 million
Hitachi’s net income increased by 40.3% year on year (y/y) to JPY105.2 billion (USD950.3 million) in the first quarter ended 30 June 2018, according to a press release by the Japanese supplier. Revenue increased 4% y/y to JPY2.16 trillion. Higher revenue helped Hitachi record a 26% y/y growth in EBIT to JPY180.4 billion and a 12.3% y/y increase in adjusted operating inco...
13-Aug-2018
News
Hanergy partners with Bollore Group to build solar EVs
Clean energy company Hanergy Holding Group’s subsidiary Donghan New Energy Automotive Technology has partnered with electric vehicle (EV) company Bluecar for designing, manufacturing, and producing solar EVs, the company announced in a press release late last month. "We at Hanergy are happy to lead the solar electric fleet adoption around the globe and are glad to partne...
13-Aug-2018
News
Sundaram Fasteners’ Q1 standalone net profit up 17.7% y/y to USD15.5 million
Sundaram Fasteners has reported a growth of 17.7% year-on-year (y/y) in net profit to INR1.06 billion (USD15.5 million) for the first quarter ended 30 June 2018, according to a company release on 9 August. Total revenues during the three-month period grew 14.9% y/y to INR9.86 billion. Profit before tax also grew by INR1.5 billion, which is a growth of 22.5% y/y. Si...
13-Aug-2018
News
Eluminocity to provide discounted DC fast charging to Uber in US
Eluminocity has entered into a partnership with Uber to supply the latter’s driver-partners with discounted DC fast charging service in Seattle, United States, the company announced in a press release on 10 August. Uber’s electric vehicle (EV) driver-partners will get 50% off on using eluminocity’s DC fast charging until 31 September 2018. “Eluminocity’s goal ...
13-Aug-2018
News
Subros’s Q1 net profit up 80% y/y to USD2.7 million
Subros has reported a growth of 80% year on year (y/y) in its net profit to INR189.3 million (USD2.7 million) for the first quarter ended on 30 June 2018, according to a regulatory filing on 9 August. Net revenue for the same period grew 12.7% y/y to INR5.35 billion. Profit before tax stood at INR249.8 million, representing a growth of 85.1% y/y. According to a r...
13-Aug-2018
News
EV charging solutions firm Ample raises USD31 million funding
Electric vehicle (EV) charging solutions provider Ample has raised USD31 million in its Series A funding round, the company announced in a press release on 6 August. The funding was led by Shell Ventures, with participation from Moore Strategic Ventures, Repsol Energy Ventures, Hemi Ventures, and TRIREC. Ample informed that Steve McGrath, investment director of Shell Ventu...
13-Aug-2018
News
Honda plans to produce hybrids in Thailand; receives BOI grant
Having received a grant from Thailand’s Board of Investment (BOI), Honda is planning to start production of hybrid electric vehicles (HEVs) in the country soon, Bangkok Post reported on 3 August. According to the report, Honda applied for incentives worth THB5.82 billion (USD174.7 million) for producing HEVs at its facilities in Ayutthaya and Prachin Buri. Honda Accord...
13-Aug-2018
News
Hyundai plans to start construction of engine plant in Russia in November
Hyundai is planning to start construction of a new engine plant in the Kamenka industrial zone in Russia, news website RusAutoNews.com reported on 8 August. Construction of the plant is expected to commence in November with a proposed investment of around RUB27 billion (USD425 million). The plant is expected to produce 150,000 units of 1.6L engines annually. Signif...
13-Aug-2018
News
IAC opens new plant in India to produce vehicle interior components
IAC has opened a new manufacturing plant in Manesar, Haryana (India), news website ETAuto reported on 11 August. According to the company, its new 5,574-square-meter plant consolidates operations of its two nearby plants into one location. IAC invested more than USD2 million in the modernization of the equipment and facility, which will have around 220 employees. The new p...
13-Aug-2018
News
Hyundai develops next-generation ‘Separated Sound Zone’ technology
Hyundai has developed its next-generation ‘Separated Sound Zone’ (SSZ) technology that allows each occupant of a vehicle to listen to audio stream customized to their individual needs, the automaker said in a press release today (13 August). The innovative technology creates and controls the acoustic fields within the vehicle’s cabin, allowing the driver and each pas...
13-Aug-2018
News
SupplierInsight Weekly – 13th August 2018
Click the link above to download this week's issue
13-Aug-2018
News
LeddarTech delivers first LCA2 SOCs to automotive partners
LeddarTech has delivered the first samples of its LeddarCore LCA2 system-on-chip (SOC) to select automotive partners, the company said in a press release on 9 August. The company will offer LCA2, a three-dimensional (3D) solid-state lidar SOC to tier-1 suppliers and system integrators through purchase of the LeddarTech LCA2 evaluation kit. LeddarTech will showcase LCA2 SOC...
13-Aug-2018
News
MRF’s standalone Q1 net profit more than doubles y/y to USD38 million
MRF’s standalone net profit more than doubled year on year (y/y) to INR2.6 billion (USD38 million) in the first quarter ended 30 June 2018, compared with INR1.06 billion in the same quarter last year, the Indian tire-maker said in a regulatory filing on 9 August. The company’s profit before taxes (PBT) nearly tripled y/y to INR4 billion. MRF reported strong growth in e...
13-Aug-2018
News
Yokohama Rubber terminates technology tie-ups with Kumho Tire
Yokohama Rubber has terminated its technology tie-ups with Kumho Tire, the Japanese tire-maker said in a press release on 9 August. Yokohama and Kumho had entered a Master Technological Alliance Agreement in February 2014 and a Cooperative Research and Development Agreement three months later to collaborate on development of future tire technologies. Significance: ...
13-Aug-2018
News
Hella’s FY 2017/18 net profit up 13.7% y/y to USD451.2 million
Hella has reported a 13.7% year-on-year (y/y) increase in net profit to EUR388.7 million (USD451.2 million) in the financial year (FY) ended 31 May 2018, the Germany-based automotive electronics and lighting supplier said in a press release on 10 August. Sales increased 7.2% y/y to EUR7.06 billion. The company reported currency-adjusted sales growth of 9.3% y/y. Higher sal...
13-Aug-2018
Analysis
Cold start engine warm-up strategies
The introduction of RDE and equivalent regulations around the world dictate the need to adhere to lower nitrogen oxides (NOx) levels and fleet carbon dioxide (CO2) requirements, and thus mandate the environment-friendly design of next generation of internal combustion engines (ICEs). A highlighted concern is the occurrence of inefficient combustion during start of an engin...
13-Aug-2018
News
General Motors (GM) to offer tripower propulsion system on new XT4 SUV in China
General Motors (GM) will offer its all-new 2L turbocharged engine with tripower system in China, the company announced in a press release on 8 August. GM said that the new powertrain leverages multiple efficiency-enhancing technologies for low emissions, low fuel consumption and enhanced torque production at lower speeds. The engine also meets China’s National VI-B emiss...
10-Aug-2018
News
Leoni to exhibit cables for alternative drive systems at Electric & Hybrid Vehicle Technology Expo 2018
Leoni is set to showcase cables for alternative drive systems at Electric & Hybrid Vehicle Technology Expo 2018 next month in Michigan, United States, the company announced in a press release on 9 August. The exhibits will include EVC charging cables and Hivocar high-voltage cables. The cables on display can be used anywhere in the entire charging system right from the...
10-Aug-2018
News
EVgo to set up EV charging network in US state Virginia
EVgo has won an order to set up statewide electric vehicle (EV) charging network in US state Virginia, the company announced in a press release on 9 August. The EV charging network will priortize installation of DC fast chargers in some of the most heavily traveled corridors in the Commonwealth. The network will be developed over three 1-year investment cycles. “EVgo ...
10-Aug-2018
News
Minda Corp’s Q1 net profit rises 63.3% y/y to USD5.5 million
Minda Corporation has reported 63.3% year-over-year (y/y) increase in net profit to INR375.9 million (USD5.5 million) for the first quarter ended 30 June 2018, the company said in a press release on 8 August. The company recorded 74.9% y/y growth in profit before taxes (PBT) to INR506.6 million. Minda recorded higher profit as revenue increased 24.9% y/ to INR7.78 billion....
10-Aug-2018
News
Amazon releases Alexa software development kit for new cars
Amazon has released open source Alexa Automotive Core (AAC) software development kit (SDK) for automotive OEMs that want to integrate the popular voice-based service into their vehicles, VentureBeat reported on 9 August. The new SDK is available as a free download on GitHub and includes source code and function libraries to enable a vehicle to process audio input and trigg...
10-Aug-2018
News
Infiniti to showcase electrified performance concept at 2018 Pebble Beach Concours d'Elegance
Nissan’s premium brand Infiniti is set to showcase its electrified performance concept at 2018 Pebble Beach Concours d'Elegance later this month in California, United States, the company announced in a press release on 9 August. The concept is the first project to materialise under the direction of Karim Habib, executive design director of Infiniti. “Our new concept pr...
10-Aug-2018
News
UQM wins additional orders to supply fuel-cell compressor system to Chinese OEMs
UQM Technologies has won additional orders worth nearly USD3 million to supply fuel cell compressor systems (FCS) to several Chinese OEMs, including new and existing customers. The shipments are expected to be delivered through 2018 into 2019. According to Joseph Mitchell, CEO of UQM Technologies, the fuel cell compressor product line has become a key element of the com...
10-Aug-2018
News
Westport Fuel Systems' Q2 net revenue up 37% y/y to USD80.5 million
Westport Fuel Systems has reported a growth of 37% year-on-year (y/y) in its consolidated revenue to USD80.5 million for the second quarter ended 30 June 2018, according to a company press release on 9 August. With increasing sales, the company was able to reduce its net loss to USD5.7 million from USD13.4 million in the corresponding quarter of 2017. EBITDA also improved ...
10-Aug-2018
News
SEAT offers ‘Digital Cockpit’ for Arona and Ibiza models
SEAT will offer its ‘Digital Cockpit’ technology on its Arona crossover and Ibiza hatchback, the Spanish carmaker announced in a press release last week. The new technology replaces traditional instrument cluster dials and gauges with a 10.25-inch TFT display, which can be customized to display a range of driving, navigation and infotainment functions. SEAT’s Digi...
10-Aug-2018
News
Sumitomo Rubber starts production of truck and bus tires at South African factory
Sumitomo Rubber Industries has started production of truck and bus tires at its Ladysmith plant in South Africa, the company said in a press release on 7 August. The Japanese tire-maker invested ZAR970 million (USD72.4 million) in capacity expansion at the plant. Sumitomo Rubber added floor space of around 180,000 square meters to start production of bus and truck tires at...
10-Aug-2018
News
Press Kogyo’s Q1 net profit drops 7.6% y/y to USD16.3 million
Press Kogyo has reported 7.6% year-on-year (y/y) decline in net profit to JPY1.8 billion (USD16.3 million) for the first quarter ended 30 June 2018, the company said in a press release on 7 August. The company also witnessed 7.6% y/y drop in operating profit to JPY2.95 billion. Press Kogyo recorded decline in profit despite reporting 5.5% growth in net sales to JPY54.65 bi...
10-Aug-2018
News
Yokohama's H1 net profit rises 19.2% y/y to USD161 million
Yokohama Rubber’s net income increased 19.2% year on year (y/y) to JPY17.83 billion in first half ended 30 June 2018, the Japan-based tire company said in a press release today (10 August). The company also recorded 32.3% y/y growth in operating profit to JPY26.4 billion. Yokohama reported strong growth in earnings in the first six months of the financial year, as sales ...
10-Aug-2018
News
TS Tech’s Q1 net income down 21% y/y to USD50.4 million
TS Tech has reported a 21% year-on-year (y/y) decline in net income to JPY5.58 billion (USD50.4 million) for the first quarter ended 30 June 2018, the company said in a press release on 31 July. Revenue for the period also fell, by 4.2% y/y, to JPY103.7 billion, which led to a 23.6% y/y decline in operating income to JPY9.97 billion. TS Tech operates its business throug...
10-Aug-2018
News
China Automotive Systems reports USD847,000 net income for Q2
China Automotive Systems (CAS) has reported a net income of USD847,000 for the second quarter ended 30 June 2018, compared with a net income of USD8.9 million in the same period last year, the China-based power steering components and systems supplier said in press release on 9 August. Net sales for the period were up 6.9% y/y to USD125.8 million. Despite higher sales, inc...
10-Aug-2018
News
Strattec Security’s net income rises 70.8% y/y to USD12.3 million in FY 2017/18
Strattec Security’s net income grew 70.8% year on year (y/y) to USD12.3 million in the fiscal year ended 1 July 2018, the company announced in a press release yesterday (9 August). Net sales were up 5.2% y/y to USD439.2 million, while income from operations fell 10.1% y/y to USD13.3 million. For the fourth quarter ended 1 July 2018, net sales totaled USD116.73 million...
10-Aug-2018
News
Ningbo Jifeng raises stake in Grammer to 74.02%
In a mandatory disclosure issued on 9 August in accordance with Section 23 (1) Sentence 1 Number 2 of the German Securities Acquisition and Takeover Act (WpÜG), Jiye Auto Parts, an affiliate of Ningbo Jifeng, has announced that around 48.45% of Grammer’s shareholders accepted the tender offer, according to a press release by Grammer. Ningbo Jifeng’s associated compani...
10-Aug-2018
News
Bridgestone’s H1 net income increases 2.1% y/y to USD1.2 billion
Bridgestone’s net income increased 2.1% year-over-year (y/y) to JPY134.6 billion in the first six months ended 30 June 2018, the Japan-based tire-maker said in a press release on 9 August. Net sales grew 1.9% y/y to JPY1.77 trillion. Despite marginal growth in sales, the company witnessed a 1.4% y/y drop in operating income to JPY199.4 billion. Net sales in the Tire s...
10-Aug-2018
News
Bharat Forge’s Q1 net profit up 33.9% y/y to USD34.2 million; to set up new plant in US
Bharat Forge has reported a growth of 33.9% year on year (y/y) in its standalone net profit to INR2.34 billion (USD34.2 million) for the first quarter ended 30 June 2018, according to a press release by the company. Revenue from operations for the period grew 17.5% y/y to INR14.8 billion. Profit before tax rose 34.6% y/y to INR3.5 billion. The company’s total shipment...
10-Aug-2018
News
General Motors (GM) integrates ExxonMobil’ Speedpass+ app in vehicles through Marketplace platform
GM has integrated ExxonMobil’s Speedpass+ in-dash fuel payment app in its vehicles through its Marketplace platform, ExxonMobil said in a press release on 7 August. The app will allow drivers of eligible GM vehicles to make payment for fuels at Exxon and Mobile fuel stations through the vehicle’s touchscreen without swapping their credit cards or using their mobile wal...
09-Aug-2018
News
thyssenkrupp’s Q3 net sales up 7% y/y to USD12.9 billion
thyssenkrupp has reported a growth of 7% year-on-year (y/y) in net sales to EUR11.1 billion (USD12.9 billion) for the third quarter ended 30 June 2018, according to a company press release today (9 August). However, the company also reported a net loss of EUR131 million during the quarter, compared to a net income of EUR254 million for the corresponding quarter of the prev...
09-Aug-2018
News
Mazda, Saudi Aramco, AIST partner to develop solutions to lower ICE emissions
Japanese automaker Mazda has partnered with Saudi Aramco and Japan's National Institute of Advanced Industrial Science and Technology (AIST) to develop solutions to increase efficiency reduce emissions of internal combustion engines, the company announced in a press release on 8 August. While Saudi Aramco will develop a fuel with a refinery process that results in lower ca...
09-Aug-2018
News
UK-based utility Centrica invests in EV charging software company Driivz
Centrica and Ombu Group have co-led a funding round at Driivz, an Israel-based start-up that offers end-to-end software solutions for electric vehicle (EV) charging, the United Kingdom-based energy and services company said in a press release on 6 August. Driivz raised GBP9 million (USD12 million) in the latest funding round. Centrica invested in Driivz through its inve...
09-Aug-2018
News
Martinrea's Q2 net income up 17.7% y/y to USD55.7 million
Martinrea has reported a growth of 17.7% year-on-year (y/y) in its net income to CAD55.7 million (USD42.2 million) for the second quarter ended 30 June 2018, according to a company press release on 8 August. Net sales for the period, however, saw a fall of 5.2% y/y to CAD921.7 million. Operating Income for the three-month period increased by 22% y/y to CAD81.6 million. ...
09-Aug-2018
News
Samsung Group announces investment plan for AI, 5G, automotive electronics
Samsung Group has announced plans to invest KRW25 trillion (USD22.3 billion) over the next three years in new growth areas of artificial intelligence (AI), 5G, automotive electronics components and biopharmaceuticals, the South Korean electronics company said in a press release on 8 August. The investment, led by Samsung Electronics, is part of the group’s plan...
09-Aug-2018
News
Yokohama Rubber develops double-tube internal heat exchanger for ACs
Yokohama Rubber has developed a double-tube internal heat exchanger for use in automotive air-conditioners to improve the cooling efficiency, the company announced in a press release on 8 August. Yokohama informed that model year 2018 Jeep Wrangler and Jeep Compass feature the company’s double-tube internal heat exchanger. The company also said that the company is planni...
09-Aug-2018
News
BEST plans to build new plant in India to produce high energy density batteries
India-based Bharat Energy Storage Technology (BEST) plans to manufacture thermal batteries in the state of Andhra Pradesh (India), Reuters reported on 6 August. The manufacturing is scheduled to start in May 2019. The company is setting up a new plant in the state with an investment of INR6.6 billion (USD96 million). The plant will have an annual capacity of 1000 megawatt ...
09-Aug-2018
News
Nissan to study future applications for used EV batteries with Brazilian university
Nissan has signed a memorandum of intent with Federal University of Santa Catarina (UFSC) to test solutions and future applications for used EV batteries, the company announced in a press release on 8 August. Nissan will initially supply UFSC with six Nissan LEAF batteries, which were used in taxis in São Paulo and Rio de Janeiro as part of a special company project from ...
09-Aug-2018
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