Foreign investment updates about automotive industry
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Indian auto component leader Sona BLW Precision Forgings Ltd. (Sona Comstar) has opened a new manufacturing plant in Silao, Mexico, specifically focused on producing driveline solutions for Battery Electric Vehicles (BEVs) in North America. This strategic expansion strengthens Sona Comstar's position as a critical player in the EV
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Leading energy and marine consultancy firm ABL has announced the launch of its Romanian operations to further solidify its presence in the Black Sea region. The new office, strategically located in Constanta, Romania, will provide comprehensive technical services to support the country's burgeoning offshore energy and maritime markets.
Update (Divestment)
BYD, the world's leading electric vehicle (EV) manufacturer and Tesla's main competitor, has reportedly slowed down its plans to build a factory in Vietnam. This news comes despite an earlier announcement from the Vietnamese government in May 2023. Strategic Shift and Market Realities The decision to
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The Volvo Group has announced plans to expand its North American manufacturing presence with a new heavy-duty truck plant in Mexico. This strategic move aims to increase production capacity and support the growth of Volvo Trucks and Mack Trucks in key markets. Boosting Production for Continued Growth Scheduled to open
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On April 15, 2024, Honda marked a milestone with the groundbreaking ceremony of its new state-of-the-art spare parts warehouse in Doddaballapura, Bengaluru, Karnataka. This initiative is overseen by Honda Cars India and aims to bolster spare parts operations across its business divisions, including Honda Cars India, Honda Motorcycle & Scooter
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According to Reuters, Volkswagen is stepping on the gas in South Africa, announcing a 4 billion rand ($210.67 million) investment to gear up its Eastern Cape plant for the production of a brand new SUV starting in 2027. This move strengthens South Africa's position as Africa'
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German automaker Volkswagen is making a major commitment to China's electric vehicle (EV) revolution with a 2.5 billion EUR investment in its innovation hub in Hefei, Anhui Province. This strategic move highlights Volkswagen's focus on accelerating localization and catering directly to the needs of Chinese
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UTAS-NOVA Automotive Lighting Systems México, a Chinese automotive lighting company, is making an investment of over US$36.3 million to establish a new plant in Aguascalientes. This venture will not only mark UTAS-NOVA's entry into Mexico but also create 220 new jobs, contributing to the local economy.
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German defense and automotive giant Rheinmetall is expanding its footprint in Central Europe with a brand-new "hybrid" plant in Szeged, Hungary. The groundbreaking ceremony, held on 26 March 2024, was a star-studded event attended by Hungarian Minister of Defence Kristóf Szalay-Bobrovniczky, Szeged Mayor Dr. László Botka, and other
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The BMW Group and NTT DATA Romania have inked a deal to establish a Joint Venture (JV) in Romania, signaling BMW's commitment to enhancing its global IT network and tapping into local software talent. The agreement, subject to regulatory approval, leverages NTT DATA's expertise in agile
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According to a press release, the BMW Group and Tata Technologies, a global leader in product engineering and digital services, have inked a deal to establish a joint venture (JV) aimed at creating a software and IT development hub in Pune, Bangalore, and Chennai, India. While the primary development and
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According to a Financial Times report, Tesla is sending a team to India this month to explore potential locations for a new electric vehicle (EV) manufacturing plant with a potential investment of US$ 2 to 3 billion. The electric vehicle giant is eyeing states like Maharashtra, Gujarat, and Tamil Nadu
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VinFast, a leading Vietnamese electric vehicle (EV) manufacturer, celebrated a major milestone by breaking ground on its first integrated EV manufacturing facility in India. Located in Thoothukudi, Tamil Nadu, the project signifies VinFast's commitment to global green transportation and is expected to create significant economic benefits for the
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Chinese automaker Chery International and Vietnamese conglomerate Geleximco Group have joined forces to establish a new automobile factory in Vietnam. The signing ceremony, held on 4 April 2024, marks a significant step for both companies and the Vietnamese automotive industry. The $800 million factory, to be located in Thai Binh
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Kenya and Toyota Tsusho Corporation of Japan have signed a framework agreement for cooperation in vehicle manufacturing and renewable energy development. As part of the agreement, Toyota will establish a vehicle manufacturing plant in Kenya, with an initial investment of Ksh 800 million pledged towards the Kenya Thika vehicle manufacturers.