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Series AA 127- The EV transformation - Part 1: How a multibagger got fresh tailwinds & gave 22,204% return in last 20 years
Below are the excerpts from its annual report of 2017-18. ELECTRIC VEHICLES – THE NEW MARKET DISRUPTOR | “We are anticipating the next market disruption through electric vehicles. We are closely reviewing and watching the situations and doing our ground level work. We are also mapping all of our existing products vis-à-vis EV to capitalise on the opportunities EV will throw at the component manufacturers, whether it is motors, batteries or any other system which will come into the electric vehicles, totally different from the conventional IC engine.” Cut to August 2023, five years down the line, the company commissions two plants for making on-board charger, off-board charger, motor control Units, DCDC converters, battery management systems, and more products catering to EV 2-wheelers and 3-wheelers. Now this is a reflection of the speed at which an auto ancillary company needs to function and also the product range it needs to have if it has to stay relevant in the changing world of the auto Industry. Foresight, planning and timely execution is the key.
Strong order flow likely to help BEL stay on growth path
The company anticipates order inflow of around Rs 70,000 crore over the next two years compared with the previous forecast of Rs 50,000 crore. The revised outlook reflects a new order prospect of Rs 30,000 crore for the Quick Reaction Surface to Air Missile (QRSAM) from the Army and Air Force, expected to materialize in the next fiscal year.
Apple supplier Foxconn among firms asked to cut power use in Vietnam
The request for energy-saving measures, which two other industry sources said was sent to multiple manufacturers, is precautionary and aimed at averting a repeat of last summer when power shortage led to over a billion dollars in lost output.
GST officers working on registration mechanism for 'shared warehouse' for e-commerce suppliers
GST authorities are developing a mechanism to address taxation and registration issues for shared warehouses used by e-commerce companies, where multiple suppliers store goods for last-mile delivery. This issue arises because suppliers have geo-tagged these warehouses as their 'additional place of business' under GST rules, raising concerns of potential fraudulent registrations and the risk of holding warehouses accountable for individual supplier defaults.
Toyota repeatedly halted Mexico plant after suppliers hit by worker shortage, sources say
Toyota Motor faced production halts at Mexico plant due to labour shortages and supply chain disruptions, affecting Tacoma pick-up truck output. North American plants experienced delays due to supplier issues. Challenges with parts makers, electric vehicle delays, safety scandals, governance issues, and financial performance impacted Toyota amidst economic growth and personnel shortages.
Ford losing $100,000 per every electric vehicle: Report
Ford Motor Co faces losses from electric vehicles, cutting orders and fast-tracking small EVs to compete with Tesla. CEO Jim Farley acknowledges challenges. Tesla, Elon Musk, and CFO John Lawler's comments on pricing pressure and EV costs are key. Ford focuses on hybrids, delays launches, and addresses quality issues.
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India's diesel shipments to Europe slip 20% as US, Gulf supplies rise
India's diesel exports to Europe dropped to 210,000 bpd in April due to US and Gulf competition. Vortexa tracked weakened margins. Asian exports grew. Ukrainian conflict spurred Russian diesel replacement.
Luxury car companies keep it cool inside with advanced glass coatings
Car manufacturers are adopting sophisticated glass coatings to maintain cool temperatures inside vehicle cabins, reducing the reliance on air conditioning as temperatures soar above 45°C in certain Indian cities during the summer. This initiative coincides with the trend towards larger vehicles like SUVs and electric models, which demand more battery pack space, resulting in larger glass surface areas and thermal loads
Top orange juice supplier seen having worst crop in 36 years
Brazil, the leading orange juice exporter, anticipates the worst harvest in 36 years due to a heat wave. The global orange juice supply is impacted by reduced production in Brazil and Florida.
Huawei's new phone uses more China-made parts, memory chip
Huawei's Pura 70 Pro showcases China's tech self-sufficiency advancements through increased use of Chinese suppliers, including HiSilicon's NAND memory chip, and Kirin 9010 processor, challenging U.S. sanctions and impacting the smartphone market.
Norms eased to draw in more suppliers for power equipment
India's primary planning and advisory body for the power sector has loosened a significant condition for power equipment supplies in public sector projects, aiming to enable utilities to issue tenders that facilitate greater involvement from private vendors, sources familiar with the matter revealed.
Europe's auto suppliers reach the end of the road
Emrullah Karaca has made brakes for the past 20 years, but he is now learning to assemble heat pumps instead, as the Continental factory where he works in northern Germany is slated to close. "Brakes or heat pumps, it's all the same to me," said Karaca, whose two parents both worked for Continental at the factory.
Oil refiner indicates a 6.5% upside; battery supplier powers up for 10% ride
Nifty faced continuous resistance at one level and closed marginally positive.
LTTS wins $48 million deal with European auto parts supplier Forvia
As part of this five-year partnership, approximately 300 engineers from Forvia’s Augsburg (Germany) and Bangalore (India) sites, have transferred to LTTS
Nvidia supplier SK Hynix says HBM chips almost sold out for 2025
Chief executive officer Kwak Noh-Jung said the Nvidia supplier and the world's second-largest memory chipmaker will begin sending samples of the latest version of HBM chips, called 12-layer HBM3E, in May and begin mass producing them in the third-quarter.
China’s screen maker AET lines up Rs 200 crore for India
AET Displays, part of China's Guangda Group, invests Rs 200 crore in India for manufacturing expansion. They plan to strengthen local supply chain, enhance R&D, and establish sales centers in key cities.
Can homemade BrahMos propel India to become Asia's top defence supplier?
India's delivery of BrahMos missiles to the Philippines signifies a significant milestone in its defence export ambitions. The move not only strengthens bilateral ties but also showcases India's technological prowess and commitment to self-reliance in defence manufacturing. As India continues to explore opportunities for defence exports, addressing challenges and enhancing capabilities will be key to realizing its vision of becoming a major defence supplier in the region.
Boeing, Spirit agree $425 mln deal to address supplier's issues
Spirit AeroSystems and Boeing have reached an agreement following the U.S. aviation regulator's decision to limit Boeing's 737 MAX production. Boeing will provide Spirit with $425 million in advance payments and support to tackle issues such as inventory levels and cash flow challenges. This arrangement coincides with discussions for Boeing to potentially acquire Spirit, its former subsidiary.
BJP manifesto gives 9 themes for investors in stock market
BJP manifesto, which promises continuity and enhancement of previous policies along with new measures to deepen and widen India’s economic progress, is seen as having a positive impact on multiple sectors if PM Modi returns to power. Domestic brokerage Phillip Capital sees a positive impact on sectors like automobiles, cement, metals, real estate, alternative fuels, financials, pharma, FMCG, EMS, hotels, airline, etc. Here are 9 ideas from the brokerage:
Apple says it wants to spend more on suppliers in Vietnam
Apple Inc's CEO Tim Cook aims to boost the iPhone maker's investments in Vietnam by increasing spending on local suppliers. Vietnam, which is a key manufacturing hub for Apple, will set up a working group to support Apple's investment in the country.
Foxconn considers rotating CEOs in management reshuffle
Foxconn considers a rotating CEO system to enhance talent development, boost governance, and end a one-man rule system. This change may involve Young Liu transitioning from holding both CEO and chairman roles since 2019.
Apple supplier Foxconn expects revenue growth in Q2 after dip in Q1
The first quarter is traditionally quieter than the previous one, the season when Taiwan's tech companies race to supply smartphones, tablets and other electronics to major vendors such as Apple for Western markets' year-end holiday period.
Serbia to boost defence industry cooperation with France, President Vucic says
Serbia aims to enhance defense industry cooperation with France and is pursuing the purchase of Rafale fighter jets, signaling a shift away from Russian arms suppliers. President Aleksandar Vucic plans to discuss this cooperation with French President Emmanuel Macron during his upcoming visit to France. Despite its military neutrality, Serbia seeks to modernize its armed forces, currently relying on Soviet-designed aircraft and Russian weaponry. The country has also acquired Chinese anti-aircraft missiles and combat drones.
Apple tops in blue-collar jobs; election merchandise now on ecommerce
Apple and its supplier network have become India’s leading blue-collar job creator since the start of the production-linked incentive scheme. This and more in today’s ETtech Top 5.
Texas attorney general opens investigation into parts supplier for Boeing
On Monday, Boeing CEO Dave Calhoun announced he would leave by the end of the year, following concerns from regulators and airline customers after a panel flew off a 737 MAX 9 jet in January.
Home Depot to buy pro supplier SRS Distribution for $18.25 billion
SRS, based in McKinney, Texas, serves professional roofers, landscapers and pool contractors with a sales force of over 2,500 people at more than 760 branches across 47 US states.
Apple supplier Rayprus eyeing Bengaluru facility
The Foxconn subsidiary that makes high-quality precision camera and lens solutions is looking to set up its facility within the sprawling new Foxconn campus coming up in Bengaluru
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