Automotive suppliers’ business sentiment reached an all-time low in the CLEPA McKinsey September 2022 Pulse Check. About 70% of suppliers saw their profitability drop to levels that could already start undermining their ability to invest in R&D, the workforce and new business activities. Three consecutive years of crisis have eroded the financial health of around one in two suppliers. … [Read more...]
Aurobay is new powerhouse for Volvo & Geely
Volvo Cars and parent Geely Holding have will create a joint venture under the name Aurobay for its powertrain operations as the companies proceed with their announced plans to merge these into a new, stand-alone business. The new company will be a global supplier of complete powertrain solutions including next generation combustion engines, transmissions and hybrid … [Read more...]
£1 Billion plan to support auto supply chain
The Automotive Transformation Fund is a programme that aims to establish a competitive and sustainable UK Supply Chain. It offers a share of up to £1 billion of funding for industrial research and capital projects to support the industrialisation of a high-value, electrified automotive supply at scale. This is an expression of interest (EoI) competition and companies have until 14th October to … [Read more...]
Investment growing in automotive sector
According to the latest data, annual EU investment into R&D by the automobile and parts sector has risen by 7.4% to reach an all-time high of €53.8 billion. This, and many other facts about the industry, were compiled by the European Automobile Manufacturers’ Association (ACEA) in its ‘Automobile Industry Pocket Guide’, published on the occasion of the association’s Annual General Meeting … [Read more...]