Page 2 - Automotive
Automotive aftermarket spending to fall 11% in FY21: Crisil report
According to the report, aftermarket automotive spends are typically driven by annual running and replacement frequency
 "Automotive aftermarket spending to fall 11% in FY21: Crisil report")
M&M rejigs top management in automotive, farm equipment divisions
Homegrown auto major Mahindra & Mahindra (M&M) on Monday announced a rejig of its top management in automotive and farm equipment sectors with its President for auto vertical Rajan Wadhera set to retire and step down from executive role. Announcing changes in the group corporate office as well as in auto and farm sectors, to be effective from April 1, 2020, the company said Veejay Nakra will be appointed as CEO of the auto division. He will have operating responsibility for passenger vehicles and entire commercial business with profit and loss accountability, except for product development process, M&M said in a statement. It further said Hemant Sikka will head the farm equipment sector, while R Velusamy will be appointed as the chief of Global Product Development (Automotive) and Vinod Sahay as Chief Purchase Officer of AFS (auto and farm sectors). Nakra, Sikka, Velusamy and Sahay will report to Rajesh Jejurikar, who will join M&M Board as Executive Director AFS from .
 "M&M rejigs top management in automotive, farm equipment divisions")
The ripple effect in the Indian auto industry
Will more MNC carmakers follow the footsteps of GM, which has decided to stop retailing in India?
 "The ripple effect in the Indian auto industry")
Auto interior component maker IAC opens global engineering center in Pune
Center to focus on application development engineering to support Indian & global customers programs
 "Auto interior component maker IAC opens global engineering center in Pune")
Leading OEM selects Tata Elxsi's Autonomai for driverless car program
Autonomai platform provides carmakers & tier 1 auto suppliers with comprehensive & modular solution
 "Leading OEM selects Tata Elxsi's Autonomai for driverless car program")
Automated vehicles leading to sustainable development through IoT
Connected cars will help in heralding a new era of eco-friendly transportation
 "Automated vehicles leading to sustainable development through IoT")
Piramal Finance invests Rs 565 in two auto component companies
It has invested Rs 275 crores and Rs 290 crores in RSB Group and Indoshell Mould, respectively
 "Piramal Finance invests Rs 565 in two auto component companies")
Mahindra unveils growth strategy for electric vehicles business
To invest in globally competitive EV technology, set up charging infrastructure & fleet operations
 "Mahindra unveils growth strategy for electric vehicles business")
Talbros divests part of materials business assets to Interface Performance
Auto component firm has also entered into a raw material sourcing pact with the US-based Interface
 "Talbros divests part of materials business assets to Interface Performance")
Volvo Cars aims to double marketshare in India's premium segment by 2020
The Swedish car maker will start assembly operations in the country for its XC90 premium SUV in 2017
 "Volvo Cars aims to double marketshare in India's premium segment by 2020")
Minda Group forms JV with Taiwan's Tung Thih Electronic for auto parts
JV will set up greenfield facility in NCR to manufacture automotive electronics
 "Minda Group forms JV with Taiwan's Tung Thih Electronic for auto parts")
South Korea's Kia Motors to invest $1.1 bn to set up facility in India
Facility is expected to begin production in 2019, with an annual capacity of 300,000 units
 "South Korea's Kia Motors to invest $1.1 bn to set up facility in India")
Suzuki, Toshiba & Denso plan to make auto lithium-ion battery in India
Three Japanese companies are expected to invest Yen 20 bn (about Rs 1180 crore) to set up a facility
 "Suzuki, Toshiba & Denso plan to make auto lithium-ion battery in India")
Toyota to invest $1.33 bn for setting up automotive plant in Kentucky
This investment is part of Toyota's plan to invest $ 10 billion in the US over the next five years
 "Toyota to invest $1.33 bn for setting up automotive plant in Kentucky")
Ford Motor plans to use 3D printing technology for making large auto parts
With light-weighting & personalisation in mind, Ford to use Stratasys 3D printer for this project
 "Ford Motor plans to use 3D printing technology for making large auto parts")
Sundaram-Clayton to invest Rs 750 cr for expansion in India and US
The auto component maker will spend Rs 350 cr to set up its first overseas manufacturing unit in US
 "Sundaram-Clayton to invest Rs 750 cr for expansion in India and US")
Subros bags order to supply AC kits from Indian Railways
The company will supply 360 kits to Indian Railways' Diesel Locomotive Works (DLW), Varanasi
 "Subros bags order to supply AC kits from Indian Railways")
Japan's JTEKT buys out Sona Group in their steering JV
Indian auto component maker sold its 25.12% in Sona Koyo Steering Systems to its Japanese partner
 "Japan's JTEKT buys out Sona Group in their steering JV")
Japan's Seiken Chemical joins hand with Anand Group for coolants
Collaboration will ease entry of Anand Group into Japanese automotive OEMs in India
 "Japan's Seiken Chemical joins hand with Anand Group for coolants")
Motherson Sumi buys Finnish wiring harness maker PKC for € 571 mn
It will help MSSL expand its presence in the global wiring harness market for commercial vehicles
 "Motherson Sumi buys Finnish wiring harness maker PKC for € 571 mn")
