LITHUANIA> German based Continental is set to construct a manufacturing plant in Lithuania investing €95 million ($112 million)

Continental logo To expand its automotive electronics production footprint, automotive technology company Continental is set to construct a new manufacturing plant in Lithuania. Specially to increase the production of electronic components for European markets, the company has chosen the Kaunas region and is scheduled to open in the middle of 2018. The €95 million ($112 million) investment is scheduled for the next More …

UK > USA based BorgWarner is set to acquire UK based Sevcon for $200 million

Borgwarner logo Sevcon Inc., a global player in electrification technologies, has entered into an agreement to be acquired by USA based BorgWarner as it complements BorgWarner’s power electronics capabilities to provide electrified propulsion solutions. According to James Verrier, President and CEO of BorgWarner: “This acquisition supports our existing strategy to supply leading technology for all types of propulsion systems; combustion, hybrid and More …

USA > BYTON’s North American headquarters is fully operational in Silicon Valley, USA

byton logo In its effort to establish a global presence, BYTON’s North American headquarters become fully operational. BYTON’s North American headquarters covers an area of 80,000 square feet and employs more than 120 employees. It plans to add another 200 jobs next year. According to BYTON CEO & Co-Founder Dr. Carsten Breitfeld “BYTON’s idea of marrying the automotive industry with digital technology is More …

LITHUANIA > Japan based Yazaki expands its production capacity at Klaipėda, Lithuania

Yazaki logo For producing wire harnesses for Daimler (Mercedes-Benz), Yazaki is expanding its production capacity at Klaipėda, Lithuania employing 400 new employees both as production line workers and specialists such as engineering staff, technologists, electronic specialist, automation specialists and electrical engineers. The company also plans to provide qualifications and licences required for all new employees. The plant in Klaipėda produces wire harness More …

INDIA > China based Tencent has finalized $400 million investment in India based ride sharing app Ola

Tencent logo The paperwork has been finalized and the deal is awaiting approval from CCI as China’s Tencent has finalized $400 million investment in ride-hailing Ola valuing Ola at over $3.8 billion. Sizeable portion will be allotted towards boosting the electric vehicle segment. Ola could also raise additional capital from US- based hedge funds Coatue Management. Ola has raised $2 billion from More …

USA > Mexico based automotive supplier, Metalsa Structural Products invests $36.5 million in Western Kentucky, USA

Metalsa logo Mexico based Metalsa Structural Products is expanding to produce a new line of stamped and welded components, investing $36.5 million in Owensboro, Kentucky adding 113 new jobs in the process. The $36.5 million investment will be utilized in robotic welding cells, assembly line robots, infrastructure and building expansion to accommodate the new production line and additional warehouse space. According to More …

USA > Luxembourg based SAF Holland to invest US$ 4 million in southeast Arkansas

safholland photoshop SAF-HOLLAND, a Luxembourg based chassis related system company, is set to open a new facility in Southeastern Arkansas in the old Federal Mogul building in Dumas hiring 65 new employees. The company is known for making chassis related systems for trailers, trucks, buses, and recreational vehicles. The Dumas plant has been producing trailer suspensions since 1988 and is currently employs More …

MEXICO > India based Comstar Automotive Technologies invests $5 million in a production facility in Mexico

comstar Comstar Automotive Technologies (CATL), an India based starter motors and alternators manufacturer, is set to produce an integrated starter generator (ISG) for hybrid vehicles at an undisclosed location in Mexico (even though some say it is in Aguascalientes). The product that ensures the combination function of both the starter motor and the generator or the alternator is expected to save More …