MG, the passenger car brand originally from Britain but now owned by China's leading automaker SAIC, plans to launch 13 new electric vehicles globally over the next two years. The brand plans to invest 10 billion yuan (about $1.4 billion) into developing new-energy vehicles (NEVs), which will include a range of battery-electric cars, range extenders and plug-in hybrids. MG, which was acquired by SAIC in 2005, is recognized more for its international sales than domestic, after having sold 1...

On July 2, ZF Lifetec inaugurated a new manufacturing plant within the Tanger Med Industrial Platform in Morocco, dedicated to producing steering wheels. Spanning 8,000 square meters, this plant represents a significant milestone in ZF Lifetec's expansion efforts within the automotive industry, strategically positioned at the crossroads of Europe and Africa.  The plant has successfully initiated production and employs approximately 350 people, manufacturing steering wheels for ...

Sailun Group, a tire manufacturer based in mainland China, has signed an agreement with TEDA Egypt to invest $1 billion in a greenfield tire manufacturing plant in Egypt. The project will be developed in three phases on a 350,000-square-meter site within the Suez Canal Economic Zone (SCZONE), managed by TEDA Egypt. Construction is expected to be completed within three years. The first phase, planned for completion in 2026, will produce 3 million passenger car tires and 600...

Indian tiremaker Apollo Tyres Ltd. announced plans to open a new outdoor tire testing facility in Ivalo, Finland, dedicated to assessing winter and all-season tires. The facility, being developed in partnership with UTAC, a global provider of automotive testing and certification services, is expected to become operational by December 2025. Situated within UTAC's proving grounds, the new facility will include specialized infrastructure and dedicated test tracks tailored for real-world winter a...

US-based steering systems supplier Nexteer Automotive started the construction of its new smart manufacturing facility in Liuzhou, China. This investment is crucial for Nexteer as it reinforces its leadership position in the Asia-Pacific steering systems market and addresses the increasing demand from both domestic and global original equipment manufacturers. The new facility will enhance the production capacity and facilitate innovative supply chain integration. Nexteer aims to drive real-ti...

The board of directors of India-based tiremaker CEAT Ltd. has unanimously approved a capital expenditure of 4.5 billion rupees (about $52.2 million) for its Chennai plant in Tamil Nadu, India, Autocar Professional reported July 17. The investment will help the plant ramp up the production capacity of passenger car and utility vehicle (PCUV) tires by about 35%. The Indian tiremaker, part of the RPG Group, expects strong growth in demand for PCU...

Sona BLW Precision Forgings Ltd., also known as Sona Comstar, announced July 20 that its board of directors has approved the establishment of a joint venture in mainland China with Jinnaite Machinery Co. Ltd. This partnership aims to manufacture and supply driveline systems and components to automotive original equipment manufacturers both in Greater China and globally. Under the agreement terms, Sona Comstar will invest $12 million, securing 60% equity in the JV, while Jinnaite Machinery wil...

Toyota Motor North America commenced the expansion of its Arizona Proving Grounds with a commitment to invest more than $50 million, the automaker said in a July 2 press release. The project includes constructing a 5.5-mile oval track, an off-road park, new riding and handling surfaces, and plans for an advanced driver assistance technology facility in the future. The planned expansion, scheduled to be mostly completed by the end ...

As reported in a press release on June 25, the Benteler Group has commenced the construction of a new automotive plant in Kenitra, Morocco. Mr. Ryad Mezzour, Minister of Industry and Trade of the Kingdom of Morocco, attended the groundbreaking ceremony. The company plans to invest a significant mid-double-digit million euro amount during the ramp-up phase, with production scheduled to begin in 2026. The new manufacturing facility is expected to create more than 300 direct jobs and pote...

The world's largest battery manufacturer, CATL, has made a strategic move into the robo-taxi sector by establishing a new joint venture with local partners. The new JV, Shanghai Zaofu Intelligent Technology Co. Ltd., was registered in Shanghai and has a capital of 1.288 billion yuan (about $177.5 million). The newly formed company will focus on developing Level 4 autonomous driving technology. The joint effort includes contributions from Hello, Ant Group and CATL, with initial investments ...

Indian auto parts supplier Sharda Motor Industries Ltd. (SMIL) has received regulatory approval to commence manufacturing operations at its new facility in Chakan, near Pune in Maharashtra, India, on June 23. The company received a factory license from the Directorate of Industrial Safety and Health, government of Maharashtra, on June 20. SMIL made this announcement in a regulatory filing to the Bombay Stock Exchange and the National Stock Exchange. The Chakan facility is ...

US carmaker General Motors (GM) announced that it plans to invest $4 billion over the next two years to boost its domestic production of gasoline-powered and electric vehicles. This investment aims to increase the company's annual domestic vehicle assembly to over 2 million units. GM's announcement follows an earlier plan to invest $888 million in the Tonawanda propulsion plant near Buffalo, New York, to support the development of its next-generation V-8 engine. The new investments will impac...

Astemo Group is introducing new mobility solutions to its customers in North America, according to a June 9 press release. The company is also looking to expand its presence at its North American headquarters in Farmington Hills, Michigan, and plans to relocate to a more spacious office. The Japanese supplier changed its name from Hitachi Astemo Ltd. to Astemo Ltd., effective April 1. "As our industry moves into the age of the software-defined vehicle, ...

Continental announced plans to invest about 1 billion rupees (about $11.7 million) to enhance its presence in India's passenger car and light truck (PLT) tire segment, Autocar Professional reported June 9. This investment will be directed toward upgrading the manufacturing capabilities at its Modipuram plant in Uttar Pradesh, India, and expanding its product portfolio.  The initiative aligns with Continental's broader strategy to meet local demand through a market-specific approach, part...

Indian auto parts supplier Uno Minda has inaugurated a new greenfield manufacturing facility for four-wheeler alloy wheels in Kharkhoda, Haryana, India. This facility strategically enhances the company’s production network and aims to meet the growing demand for alloy wheels in the Indian automotive market. The new facility is located near Maruti Suzuki's vehicle assembly plant, also in Kharkhoda, which began operations in February. The Kharkhoda plant boasts an annual production capacity o...

Sailun Group and its joint venture partner, Tire Direct (TD), held a groundbreaking ceremony on May 15 for their tire production project in Irapuato, Guanajuato, Mexico, the mainland China-based tiremaker said in a press release on May 22. The plant, which will have an annual production capacity of 6 million passenger car radial (PCR) tires, marks an important step in Sailun Group's strategy to expand locally and globally, following its previous ventures in Southeast Asia. The project aims ...

Sailun Group, a mainland China-based tire manufacturer, commenced production of passenger car radial (PCR) tires at its new plant in Indonesia. The greenfield plant, located in the Jatengland Industrial Park in Demak, produced its first high-performance radial tire on May 28, 2025. In March 2024, Sailun announced a $250 million investment in a new PCR tire plant in Indonesia. This factory, Sailun’s fourth in Southeast Asia, is crucial for Indonesia's rapidly developing a...

NHK Spring announced plans to establish a manufacturing plant in Aurangabad, Maharashtra, India, the Japan-based company said in a press release on May 26. The company will invest ¥2 billion (about $14 million) in the first phase of the plant's construction, which will have a total floor area of 17,120 square meters. The plant will commence production of coil springs and stabilizer bars in 2027. The investment will create 350 jobs in the first phase. NHK Spring is investing in the new produc...

Changan Automobile, a leading Chinese vehicle manufacturer, has chalked out three key strategies as part of its mid-to-long term roadmap, the company announced April 27 at the ongoing Auto Shanghai 2025. Changan said its three key strategies include Shangri-La Mission, Dubhe Plan and its Vast Ocean Plan, covering the expansion of its new-energy vehicle (NEV) portfolio, global footprint, and new investment in intelligent driving technologies and innovations. Under its Shangri-La Mission, Ch...

BWI Group has expanded its production capacity for the fourth-generation MagneRide suspension system by adding 600,000 units annually. This expansion aims to deliver exceptional performance at a competitive price.  With this expansion, BWI is reaffirming its commitment to customer-focused innovation. The company's MagneRide suspension system will soon be available for about 2 million vehicles, maximizing the advantages of these advanced systems. BWI anticipates that achiev...

Cellasto, a prominent player in noise, vibration and harshness (NVH) components, has announced a significant expansion in the Chinese market with an investment of approximately €60 million to establish a second plant in Shanghai. This new facility is set to cater to the rapidly growing electric vehicle market in China and is expected to increase production capacity by nearly 70% when operations begin in 2027. A ceremony was held on April 14 to mark the commencement of this expansion. Martin...

Kongsberg Automotive (KA) has inaugurated its new manufacturing facility in Faridabad, Haryana, India. The company moved its operation from a previous 5,946-square-meter facility, also in Faridabad, to this larger, 6,947-square-meter facility. The new facility will mainly produce KA’s Drive Control Systems (DCS) products, comprising cable gear shifters, steering columns, shift-by-wire shifters and shift towers, among others. The new facility also allows KA to expand its produ...

Lexus, the premium brand of Toyota, has recently acquired a significant plot of land in Shanghai's Jinshan district for the construction of its first electric vehicle plant in mainland China. The land, spanning approximately 1.13 million square meters, was acquired for 1.353 billion yuan (about $185 million), as confirmed by the Shanghai Public Resources Trading Center. This purchase was completed on April 1 and grants Lexus a 50-year term of usage for the land, specifically allocated for new...

South Korean carmaker Hyundai Motor’s Indian unit Hyundai Motor India Ltd. has approved an investment of 6.94 billion rupees (about $81 million) for a new tooling center, according to a news report published by Autocar Professional on March 24. The planned tooling center will manufacture stamping tools and vehicle panels to expand local development of components and reinforce supply chain stability. Tooling refers to specialized equipment such as molds, dies, jigs, fixtures and others used ...

Ford Motor Co. announced March 10 that it will invest up to €4.4 billion into its German subsidiary, Ford-Werke GmbH, to support the transformation of its European business and increase its long-term competitiveness. The new financing includes a capital injection to reduce the debt of Ford plants and funds for a multiyear business plan aimed at supporting ongoing restructuring efforts. “This move replaces the letter of comfort issued by Ford Motor Company in 2006 and brings the support...

Schaeffler is evaluating its plans to establish a Global Capability Centre (GCC) in India to enhance its software and digital capabilities in line with its strategy toward electrification, digitalization, and climate neutrality, Autocar Professional reported March 4. The new GCC is expected to help the Germany-based supplier to significantly enhance its innovation, research and development capabilities, ensuring it remains at the forefront of technological advancements while adhering to its envi...

Nexteer Automotive inaugurated its new production facility in Changshu, Jiangsu Province, mainland China, on Jan. 15 to enhance its manufacturing and testing capabilities for advanced steering systems. This strategic expansion is designed to capitalize on the growing demand in the Asia-Pacific region and globally for electric power steering (EPS) technologies among both global and domestic automakers. The Changshu Campus covers approximately 137 acres and is equipped with state-of-the-art produc...

UVeye, a leading company in AI-driven vehicle inspection technology, has recently announced a substantial funding round amounting to $191 million, elevating its total capital raised to $380.5 million. This funding, a mix of equity and debt, aims to support UVeye's rapid growth in response to the increasing global demand for its innovative vehicle inspection systems. The company is on the verge of scanning 1 million vehicles every month, indicating its strong position in the industry. The fund...

Gestamp, a Spain-based supplier of automotive chassis and body-in-white (BIW) parts, has inaugurated its second Gestamp Technology Institute (GTI) in Puebla, Mexico. This move comes after the success of its first GTI established in 2016 in Boroa, Basque Country, Spain, highlighting the company's dedication to technological advancement, talent development and knowledge transfer within the automotive sector. The establishment of the GTI in Puebla is part of Gestamp's broader strategy to bolster...

Bridgestone has announced its plans to construct a pilot demonstration plant for the precise pyrolysis of end-of-life tires at its facility in Seki City, Gifu Prefecture, Japan. The plant, set to commence operations in 2027, is aimed at showcasing technology for the chemical recycling of tires, specifically to extract tire-derived oil and recovered carbon black. This initiative is part of Bridgestone's strategy outlined in its midterm business plan (2024-2026) for sustainable growth and aligns w...

Sona BLW Precision Forgings Ltd. (Sona Comstar) has announced an investment of $4 million in the US-based automotive technology firm ClearMotion Inc., through the acquisition of convertible preferred stock, as per an exchange filing. ClearMotion specializes in the development of products that enhance the driving experience by utilizing proactive suspension and road sensing software to alleviate the effects of uneven road surfaces. The company operates in global markets including the US, the U...

Global automotive automatic transmission manufacturer JATCO Ltd. has opened a new factory at the International Advanced Manufacturing Park in Sunderland, UK, Nissan announced Jan. 16. The new factory, which is expected to create up to 183 jobs, will produce electrified powertrains for the nearby Nissan plant. Initially, these powertrain assemblies will be a 3-in-1 unit, which modularizes and integrates the motor, inverter and reducer, making them smaller and lighter. JATCO’s new facility...

ZF Automotive Technologies (Shanghai) Co., a subsidiary of the ZF Group, has signed an investment agreement with the Shanghai Anting Economic Development Center to initiate the second phase of expansion to produce electronic power steering (EPS) system products in mainland China. This new phase of expansion of ZF's EPS plant in Antang, mainland China, follows the successful completion of the first phase, which began with an agreement in July 2022 and concluded in May 2023. The move to further...

Kumho Tire Vietnam, a subsidiary of South Korean tiremaker Kumho Tire Group, is set to commence the third-phase expansion of its tire manufacturing plant located in Binh Duong Province, Vietnam, beginning early 2025, according to a report by Tyre Trends. The company will invest nearly $300 million in the planned capacity expansion. The expanded plant is scheduled to become operational by early 2026, raising annual production capacity at the plant to 17 million tires compared with 12.5 million...

Bridgestone has announced plans to invest $85 million in the capacity expansion of manufacturing plants in India, located in Pune, Maharashtra, and Indore, Madhya Pradesh, the company said in a press release on Nov. 8. The capacity expansion is in line with the Japanese tiremaker’s premium-mass strategy, starting from 2025. The Pune plant's production capacity is expected to increase by approximately 1.1 million tires annually by 2029, and the Indore plant will see improvements in its abili...

Hyundai Mobis has announced its plans to enhance its electrification business within the European market by establishing a new production facility in Novaky, Slovakia. This new plant, aimed at producing power electric (PE) systems, marks Hyundai Mobis' first European production base specifically for PE systems, integral components for electric vehicles. The announcement was made following the signing of an investment agreement with the Slovak government. This initiative also includes an inves...

According to a press release on Oct. 9, Continental is set to increase the production capacity of its tire manufacturing facility located in Rayong, Thailand, by adding an additional 3 million units per year. The expansion, which is part of a broader plan involving an investment exceeding €300 million, is supported by the Board of Investment of Thailand through its Investment Stimulation Measure for Economic Recovery Scheme. The initiative is aimed at bolstering Continental's growth within ...

The White House has selected Monroe Capital to launch a dedicated fund to help automotive suppliers in the US. The Drive Forward Fund will aim to raise up to $1 billion to invest in small and medium-sized companies that play a pivotal role in fueling growth and innovation in the US automotive industry. The Drive Forward Fund will target suppliers and manufacturers including those offering software as a service (SaaS) and other technological solutions catered to the automotive sector. Beyond i...

Nokian Tyres celebrated the opening of its new passenger car tire factory in Oradea, Romania, on Sept. 19. The tiremaker claimed its new factory to be the world’s first full-scale zero-CO2-emission tire manufacturing facility. Nokian Tyres will commence commercial production of tires at the factory in early 2025. With an initial production yielding its first tire in July 2024, the factory is expected to achieve an annual output of 6 million tires, primarily targeting the Central Europe...

ZF plans to expand capacity at its manufacturing plant in Saarbrücken, Germany, by adding two more electric car axle drives to its local production operations, the company announced Aug. 8. The move is aimed at preparing the ZF site to react in a timely and more flexible manner to market developments. The capacity expansion is financed, among other sources, by the Future Fund, which ZF launched together with employees in 2022. The Saarbrücken-based production plant is one of the largest ...

In an attempt to expand production of one of its most popular and profitable vehicles, Ford Motor Co. plans to assemble F-Series Super Duty pickups at its Oakville Assembly Complex in Ontario, Canada, starting in 2026, the carmaker announced July 18. The move to add production of up to 100,000 units of its best-selling Super Duty to Oakville expands Super Duty production across three plants in North America, including the Kentucky Truck Plant and Ohio Assembly Plant, which are operating at fu...

Gestamp North America plans to expand operations at its manufacturing facilities located in the state of Michigan, US. The expansion involves adding new production machinery and equipment to produce components for electric vehicles at three facilities located in Mason, Mich.; Lapeer, Mich.; and Chelsea, Mich. In addition, the company plans a new production facility in Chesterfield, Mich., to further serve vehicle manufacturers. The project is expected to create up to 580 new jobs an...

The Yokohama Rubber Co. Ltd., based in Hiratsuka, Japan, has announced its plan to establish a new passenger car tire manufacturing facility in the Qiantang New District of Hangzhou City, Zhejiang Province, China, as reported in a press release July 1. This development comes with an initial intent to produce 9 million tires annually, considering further capacity expansion in the future. The project, which represents a significant investment of approximately ¥1,960 million, is set to commence...

UK-based startup Enso has announced its plans to construct a $500 million tire manufacturing plant in the US to supply eco-friendly tires for electric vehicles. The company has planned a phased development for the facility, which is expected to reach an initial production capacity of 5 million tires per year by 2027, providing employment for about 600 workers. At full capacity, the plant will have the capacity to produce 20 million tires a year. The UK-based company is currently evaluating se...

Continental has completed the fourth phase of capacity expansion at its tire plant in Hefei, China, the company said in a press release June 20. With the latest expansion, the company has increased the annual production capacity of the Hefei plant to 18 million tires. The German tire maker stared toperations at the Hefei plant, its only plant in mainland China, in 2021. The company has so far invested close to €1 billion at the plant that produces tires for passenger and commercial vehicles...

ZC Rubber is set to invest over $597 million in the state of Coahuila, Mexico, according to a report published by Mexico Now on May 6. Governor Manolo Jimenez announced that this investment will create thousands of jobs and is the first of several investments resulting from economic promotion tours in Asia. Governor Jimenez initiated discussions with ZC Rubber several months ago during his first tour as governor-elect and continued dialogue with the company's president, Jin Rong Shen, and v...

As reported in a press release on April 25, Kongsberg Automotive (KA) has officially opened its upgraded plant in Ramos Arizpe, Mexico, marking a significant milestone for the company. The plant represents an expansion and relocation from KA's earlier location in the region since 2018. The upgraded facility spans over 15,500 square meters and is equipped with advanced technologies to support the manufacture of flow control systems (FCS) products, including Raufoss Couplings and high-perform...

Uno Minda has announced the groundbreaking ceremony for its upcoming greenfield passenger vehicle alloy wheel plant at IMT Kharkhoda in Haryana state, India, Business Standard reported on April 10. The plant will have a capacity to produce 120,000 wheels per month. The company has announced a capital outlay of 5.42 billion rupees (about $65 million) to set up the plant in a phased manner over the next five years. Phase 1 is expected to be commissioned in the second quarter of fiscal year 2026. ...

Schaeffler India has proposed to invest 15 billion rupees (about $180 million) over the next three years to expand its production capacity, The Hindu Business Line reported March 26. It includes the establishment of a new factory at Hosur, Tamil Nadu, India, at an investment of 3 billion rupees. The company has made significant investments in 2022, with a focus on enhancing capacities for its export business and growing domestic automotive and industrial businesses. Schaeffler India plan...

Schedl Hungária Kft., a German-owned company specializing in wheel assembly and sequential delivery, is investing €101.1 million to open new production facilities in Debrecen, Hungary, and Kecskemét, Hungary. The greenfield investment is expected to create 160 jobs and enable the company to meet growing demand in the electric vehicle segment, particularly from BMW and Mercedes-Benz. With 30 years of experience and 17 million wheels delivered annually, Schedl has established itself as a tr...

Magna International has invested $166 million in Ramos Arizpe, Coahuila, Mexico, according to an article by Mexico Now on March 20. The investment will be used in a plant that will produce electrical and structural parts for electric vehicles. The development is expected to generate 700 new jobs.  With this new investment, Magna will strengthen its presence in the region, adding a new facility to its existing 10 plants in Coahuila. Magna already employs over 15,000 people in the region. ...

The Yokohama Rubber has announced in a press release on March 18 that it will build a passenger car tire plant in Mexico to strengthen its capacity to supply tires to the North American market. The new plant will have an annual production capacity of 5 million tires, with planned capital investment totaling $380 million. Construction of the new plant will start in the second quarter of 2024, and production is scheduled to start in the first quarter of 2027. The new plant will be built on a site ...

As reported in a press release on March 14, Continental announced that, in 2023, it has invested over €100 million in its operations in Romania and exceeded 20,300 employees, up from 19,000 employees in 2022. Throughout 2023, Continental made significant investments in new equipment, advanced technology and employee development across all its Romanian locations. These locations include the electronic component factories in Timișoara and Sibiu; the ContiTech factories in Timișoara and...

Japanese tiremaker Bridgestone has announced a significant investment of up to €207 million in its Burgos passenger tire manufacturing site in Spain, aimed at elevating tire production to the highest levels of excellence and sustainability. The project involves technological innovation plans to be implemented between now and 2030, with a focus on automation, increasing vulcanization capacity and creating an automatic high-bay warehouse. This investment reflects Bridgestone's commitment to m...

Venture Catalysts has invested in Attron Automotive, a startup that specializes in precision-engineered motor and controller solutions, an article by The Financial Express dated March 11 read. The company raised a total of 47.5 million Indian rupees (about $574,000) in the seed round, led by Anicut Capital and coled by Venture Catalysts, Pontaq VC and Yashovardhan Shah (angel investor). Attron Automotive's product portfolio includes precision-engineered motors and advanced controllers th...

Amsted Automotive has expanded its manufacturing footprint with the opening of a new facility in Nanjing, mainland China, it said in a press release dated March 6. The facility, named Means Nanjing Automotive Components Ltd., will produce efficiency-enhancing driveline solutions for vehicles assembled in the Asian market. With this expansion, Amsted Automotive now has 22 facilities located in North America, Europe and Asia to support global automakers. The new facility has the capacity to pro...

Guizhou Tyre is set to invest $228 million to build a new factory in Vietnam, Yicai Global reported on March 6. The setting up of the new factory is in response to strong demand. The new factory, located near the company's existing plants in Tỉnh Tiền Giang, will have an annual production capacity of producing 6 million semi-steel radial tires used in passenger cars and will cater to overseas markets. The project is expected to become operational at 60 percent of its designed capacity 12 ...

Brembo, a leading global braking systems manufacturer, has begun constructing its first production site in Thailand, investing approximately €40 million. The new site in Rayong province, south of Bangkok, will manufacture braking systems for motorcycle manufacturers in the country, starting with European and US producers. The site is expected to employ about 150 people once it is fully operational. According to Daniele Schillaci, Brembo's CEO, the investment marks a significant step in the ...

According to a press release on Feb. 1, Continental is expanding the global manufacturing footprint of its Specialty Tires business area in Sri Lanka. By further enhancing local preproduction capacities, its Kalatura, Sri Lanka, plant in future may produce material handling self-sufficiently. This ensures an optimized manufacturing process and limits cross-country dependencies in logistic supply chain. Continental will be investing about €13 million over the next three years, creating approxim...

Continental has opened a fully automated high-bay warehouse at its tire production plant in Otrokovice, Czech Republic, according to a press release on Jan. 30. It has a storage capacity of more than 930,000 tires. With the facility, the premium tire manufacturer is centralizing its warehouses in the area of Otrokovice. As a result, Continental’s logistics processes could be further optimized while lowering CO2 emissions of its operations. The new warehouse is 43 meters high — which ...

Auto component supplier Rane Madras, a major manufacturer of steering and suspension products, and light metal casting components, said in a regulatory filing that it has floated a wholly owned subsidiary called Rane Automotive Components Mexico (RACM) in Aguascalientes, Mexico, in which it will invest $3 million-$6 million over the next 12–18 months, The Hindu reported Jan. 25. According to the company’s filling, RACM has bagged a maiden order for the supply...

German technology company Continental has announced the construction of its new hydraulic hose plant for industrial purposes. The planned investment is about $90 million and is one of the biggest investments for Continental’s Group Sector ContiTech in 2024, the company said in a press release on Jan. 26. This new facility will complement and increase Continental’s existing manufacturing capacities within Aguascalientes, Mexico, and will generate more than 200 jobs in its first stage....

Yokohama Rubber has announced its decision to expand the production capacity of Yokohama Tire Philippines Inc. (YTPI), its passenger car tire production and sales subsidiary in the Philippines, as read in a press release on Jan. 24. Yokohama Rubber plans to invest about 3.5 billion pesos (about $62.15 million) to expand the plant's daily output capacity to 32,500 tires, an increase of 1,800 tires per day. In addition to expanding the capacity of tire sizes currently being produced, the planne...

In a press release on Jan. 23, 2024, The Yokohama Rubber Co. Ltd. announced that Yokohama Europe GmbH, the Yokohama Rubber Group’s European regional headquarters, established Yokohama Pneumatici SrL as a tire sales company in Italy in August 2023. The new company began operations focused on the sale of passenger car, truck and bus tires on Jan. 1, 2024. Italy is one of the major tire markets in Europe, and Yokohama Rubber has been selling its tires in Italy through a local company since 198...

Cambodian and Chinese officials have signed a memorandum of understanding under which they plan on investing $1 billion in joint rubber and tire projects, Khmer Times reported Jan. 16, citing a report from the European Rubber Journal. The parties aim to “jointly strengthen a number of priority projects,” the Cambodia Development Council said of the agreement. China’s National Centre for Research on Rubber & Tire Engineering Technology (NERCRAT) added that the state investment agency...

Sailun Jinyu Group, a Chinese tire manufacturer, has announced plans to establish a plant in Leon, Guanajuato, Mexico, with an investment of $240 million, MexicoNow reported Dec. 22, 2023. According to the report, the plant, which will be a joint venture between Sailun and Tire Direct (TD International Holding), will produce semisteel radial tires for light vehicles with an initial annual capacity of 6 million units. The plant is expected to be built within 12 months and will be controlled 51...

JK Tyre & Industries Ltd. has raised 5 billion Indian rupees (about $60.1 million) through a Qualified Institutional Placement (QIP), according to a report published by Autocar on Jan. 1. The funds raised will be used for growth capital expenditure and strengthening the balance sheet. The QIP was priced at 345 Indian rupees per share, including a premium of 343 Indian rupees per share. Raghupati Singhania, chairman and managing director of JK Tyre, expressed satisfaction at comp...

Toyoda Gosei has increased the production capacity of its subsidiary in Mexico, Toyoda Gosei Irapuato Mexico, SA de CV, to expand the network for automotive products in the North American market, it said in a press release dated Dec. 21. The manufacturing facility has been expanded and new production equipment has been installed to meet the growing demand for large painted products, such as rear spoilers and bumper peripheral parts. The plant upgrade includes the introduction of energy-saving...

Volkswagen-backed Scout Motors Inc. plans to establish its research and development (R&D) facility — Scout Innovation Center — in Novi, Mich., the company announced Dec. 12. Scout Motors will focus on developing and manufacturing the next generation of all-electric trucks and rugged sport utility vehicles (SUVs) for the North American markets. Scout Motors' trucks and rugged SUVs will be built on a newly designed all-electric platform, engineered to deliver off-road capabilities, with...

Shanghai Tongyu Automotive Technology Co. (Tongyu Automobile) has announced the completion of Series B financing of over 500 million yuan (over $70 million), according to an official statement on Dec. 4. Shenzhen Venture Capital, GGV Capital, BAIC Industrial Investment, Star Navigation Capital, Guojiang Fund, Southern Industrial Investment, CCB Capital, Xuanyuan Capital, Huoyan Capital, Mingchuan Capital, Lepu Capital, Guoshun Fund and many other well-known industries capital and top financia...

Rane Madras will invest $31 million in Aguascalientes, Mexico, to set up operations in the country, according to a report by Mexico Now on Dec. 4. The investment is likely to generate over 300 jobs. The Indian company will set up its first plant in Mexico. Rane Madras will make an initial investment of $5 million, with a final projection set to rise to $31 million. Rane Madras specializes in the manufacture and distribution of steering and suspension systems, as well as other auto parts. The ...

In an effort to expand its presence beyond its home market in China, GAC Aion, the electric vehicle subsidiary of Chinese automaker GAC Group, plans to build an EV manufacturing plant in Thailand, according to a news report published by CnEVPost on Nov. 30. Citing a company announcement, the report mentioned that GAC Aion plans to invest a total of $65.9 million in setting up its EV factory in Thailand’s Rayong province and that the plant will be developed to have a production capacity...

South Korean tiremaker Hankook Tire plans to add a truck bus radial (TBR) production line to its European plant. This expansion proposal for a new TBR production line at the Rácalmás plant in Fejér County, Hungary, has been approved by its board of directors, the company said in a press release on Nov. 24.  The Rácalmás plant was completed in 2007 and has served as an outpost for the company's European expansion. The European plant, which has completed its third phase of c...

NHK Spring Co. has announced its decision to construct a new plant in Mexico to increase its production capacity of motor cores, it said in a press release dated Nov. 17. The company plans to invest approximately ¥7.5 billion (about $50.8 million) in the new plant, which will be built on a site adjacent to its current plant in Mexico. The dedicated Mexico plant, along with the motor-core production plant in Japan, will improve productivity and efficiency, allowing the company to increase its...

Vitesco Technologies, a leading global provider of modern drive technologies and electrification solutions, has opened a new manufacturing space in Icheon, South Korea, with a capacity to produce over 200,000 of its EMR4 electric axle drives per year, it said in a press release on Nov. 16. The new line, which represents an investment of over €80 million, will enable the production of the highly efficient and compact EMR4 axle drive, which combines power electronics, an electric motor and a ...

Italian tiremaker Pirelli has opened its first research and development (R&D) center in Silao, Mexico, with an investment of $15 million over two years. The center spans over 6,000 square meters and is part of the company's larger 200,000-square-meter plant. The new technology hub adopts Industry 4.0 principles and aims to strengthen the innovation ecosystem in the region, known as the Valley of Mentefacturing in Guanajuato, Mexico Now reported Nov. 9. Claudio Zanardo, presid...

Chinese automaker Changan has signed a land purchase agreement with Thailand's industrial estate developer WHA Group to build its new electric vehicle factory in the Southeast Asian country, according to a news report published by Xinhua News Agency on Oct. 26. The EV assembly plant will be spread across an area of 40 hectares and will be located in Thailand's eastern Rayong province, which is part of the country's Eastern Economic Corridor (EEC). Changan’s EV plant is expected to b...

As part of its global expansion plans, Chinese automaker Changan Automobile plans to invest close to $242 million on building a new car manufacturing factory in Thailand, according to a news report published by Yicai Global on October 19. The report stated that the planned battery-electric vehicle (BEV) plant is expected to come up in the WHA Eastern Seaboard Industrial Estate in Thailand’s Rayong province. The news report cited an announcement made by the Chongqing, China-based company on ...

Japanese tiremaker Yokohama is betting on local production in India for a "sustainable and competitive" business model in the country. The company is currently building a new plant in the eastern Indian city of Visakhapatnam, with one plant already functioning in the North Indian state of Haryana, reported the Hindu Businessline on October 15, quoting news agency PTI.  "Yokohama India supports this decision and recognises the importance of investing in local production. Our inv...

Sumitomo Riko, a Japanese automotive manufacturer, has expanded its production plant in El Marqués, Querétaro, Mexico, Mexico Now reported October 6. The company invested $17.8 million and added 200 jobs for the project. The plant manufactures anti-vibration products for the automotive sector. Sumitomo Riko currently has 100 plants in 20 countries. The company's first plant in Mexico was installed in 2012, and now it operates two production centers in Chihuahua, Mexico, and one in Querétar...

Giti Tire celebrated a significant milestone in its evolution with the groundbreaking ceremony of its advanced plant in Hefei, Anhui, China, according to a press release on September 21. The facility is designed with a strong commitment to Industry 4.0 principles, emphasizing efficiency, connectivity and innovative technology. The plant will showcase Giti's dedication to environmental sustainability by integrating the latest production machinery and techniques to ensure an eco-friendly approach ...

In a major announcement into Egypt’s automotive industry, Rolling Plus Chemical Industries Co. is set to build a tire manufacturing plant with an investment of $1.07 billion in the country. A report in Arab News on September 20 said the company had signed a contract with the Egyptian government to establish the plant, which will be located in the Suez Canal Economic Zone, as reported by Al Arabiya. The tire manufacturing facility will be spread over an area of 400,000 square ...

According to a press release from the Hungarian Investment Promotional Agency dated September 11, PEX Automotive Systems Kft. and Baolong Holdings Europe Kft. has set up a new production site in the Hungarian city of Szigetszentmiklós. In addition to the traditional products of the company, such as brake-wear signals and cables, the plant will also produce e-mobility and intelligent automotive-related products. With an investment of €15 million, the plant will have 35 new jobs. The greenfi...

South Korean tier 1 auto-component maker, Hyundai Polytech, said it will invest about $20 million in the construction of a plant in Zacatecas, Mexico. Kwang Shik Kim, chairman of the board of Hyundai Polytech, signed a letter of intent which said it will produce plastic-injection parts for suspensions, sensors, motors and electrical systems, to supply large automotive manufacturers such as Kia and Hyundai, among others, Mexico Now reported August 30. The new investment has the po...

According to a report published by Autocar on August 7, JK Tyre has reinstated its deferred 110 million rupees investment scheme, which was initially postponed in 2018 due to sluggish macroeconomic indicators. The company is now positioning itself to capitalize on the escalating need for tires in the country. During a post-results conference call, Raghupati Singhania, chairman and managing director of JK Tyre, revealed the revival of the capital expenditure plan, indicating it will be funded ...

Vietnamese carmaker VinFast announced July 28 that the company broke ground at its upcoming electric vehicle manufacturing-plant site located within the Triangle Innovation Point in Chatham County, NC. The company had organized a groundbreaking ceremony, which was attended by North Carolina Governor Roy Cooper and Vietnamese Ambassador to the US Nguyen Quoc Dung, along with other representatives from state and federal governments, and delegates from the company and its partners. The planne...

Japanese carmaker Nissan has confirmed its plan of investing up to €600 million to become a strategic investor in Ampere, Renault Group’s new electric vehicle and software entity operating in Europe, according to a new announcement made by the Renault-Nissan-Mitsubishi alliance on July 26. “This investment opportunity aligns with Nissan's electrification strategy, creating multiple potential benefits and synergies that complement Nissan's own goals and initiatives in Europe and other po...

Leading German supplier of automotive components Schaeffler has opened a new state-of-the-art development center at its existing location in Kysuce, Slovakia, the company announced June 29. The research and development (R&D) center, which is part of Schaeffler’s larger strategy of expanding its global development activities for advanced mobility solutions, will develop products and components for electromobility as well as chassis systems for applications such as automated driving. S...

Unveiling its mid- to long-term business plans at the 2023 CEO Investor Day in Seoul, South Korea, June 20, Hyundai Motor Co. announced that it will focus on electrification, autonomous driving, hydrogen, robotics and advanced air mobility to secure growth over the next decade. Calling its ongoing transition to electrification as the "Hyundai Motor Way", the carmaker said that it will leverage its experience, knowledge and capability to innovate, accumulated over the past decades as a tr...

South Korean carmaker Hyundai Motor Co. plans to invest more than 109.4 trillion South Korean won (over $85 billion) over the next 10 years to accelerate its transition to become a smart-mobility solutions provider, Hyundai announced June 20. The earmarked investment also includes 35.8 trillion won to be spent on developing electric vehicles over the next decade, the company said, adding that it aims to achieve 2 million units in annual EV sales by 2030. The announcements were ma...

Ford Motor Co. has finally opened its Cologne Electric Vehicle Center in Germany that is slated to produce new-generation Ford EVs for customers in Europe, the company announced June 12. The US automaker has invested about $2 billion on upgrading its production facility based in Niehl, Cologne, Germany, to produce EVs for the European market. Ford’s investment in its Cologne facility, which was founded in 1930, represents the original equipment manufacturer's willingness to continue ha...

US automaker General Motors Co. plans to invest more than $500 million at its Arlington Assembly plant to prepare the facility for production of future internal combustion engine (ICE) full-size sport utility vehicles (SUVs), the company announced June 8. The investment, however, is subject to successful discussions with the local government officials, it said. In its official statement June 8, GM said that the latest investment will bring its US manufacturing and parts-distribution f...

Toyota Motor’s US unit has finally announced local assembly of an all-new, three-row, battery electric sport utility vehicle (SUV) at the company’s manufacturing plant in Kentucky, US, starting in 2025. According to the announcement made by the carmaker on May 31, Toyota’s first US-assembled battery-electric vehicle (BEV) will be powered by batteries from Toyota North Carolina, where the company is currently building a new battery plant. To further expand battery production capacity, To...

German luxury-car maker BMW Group (BMW) announced May 18 that the company plans to commence local production of its upcoming Neue Klass range of electric vehicles in China from 2026. The announcement, which marked the 20th anniversary of the carmaker’s joint venture in China — BMW Brilliance Automotive Ltd. (BBA), stated that the next-generation EV models from the Neue Klasse range will be produced by BBA in Shenyang, China, following the market launch of the said vehicles in 2025....

According to a press release May 11, Nokian Tyres broke ground for the company’s new passenger-car tire factory in Oradea, Romania. A groundbreaking ceremony has been held at Nokian Tyres’ upcoming, zero-CO² emission factory in Oradea. The total investment for the site is estimated to be approximately €650 million. Upon completion, the facility will have an annual capacity of 6 million tires with the potential to increase this number if required. Commercial tire producti...

South Korean carmaker Hyundai Motor Group plans to invest about $1.59 billion to build a dedicated EV manufacturing plant in the southeastern coastal city of Ulsan, according to a news report published by The Korea Herald on May 9. It said that with the new EV plant, Hyundai aims to consolidate its position in the emerging electric car segment. The new EV plant, which will be spread across an area of 230,000-square-meters, is expected to be Hyundai’s new car manufacturing plant being built ...

American Axle & Manufacturing Holdings, Inc. (AAM) has announced a $10 million investment in the Global Strategic Mobility Fund (GSMF), a venture capital fund managed by EnerTech Capital, according to a press release dated May 5. As a strategic partner, AAM gains access to EnerTech's vast network of business alliances and emerging technology, all supporting mobility innovation that can help enhance AAM's products and operations. EnerTech, founded in 1996, has a long history of working wit...

In a press release announcement on April 24, tire manufacturer Continental said that it has opened its new Solution Center in Lousado, Portugal on April 20. In the presence of the employees, Christian Kötz, head of the Tires group sector and member of the executive board of Continental AG, formally inaugurated the recently completed building. Cross-functional teams drive forward stated digitalization subjects at the Solution Center, which is located near the tire production. The busines...