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 … [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, … [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 … [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 … [Read more...]
