There’s something going on in China that could weaken the outlook for margins and profitability in what has been a major source of profitability for the automotive industry globally.
Nippon Steel & Sumitomo Metal Corporation and PT Krakatau Steel, have defined an agreement concerning their joint venture, PT Krakatau Nippon Steel Sumikin (KNSS).
China’s antitrust regulator has fined Japanese bearing makers NSK and NTN a combined (US$47m) for violating rules in the latest clamp down on alleged industry pricing practices.
Production has started at the Shanghai GM Norsom Motors’ third-phase vehicle and engine plant in Shenyang, the capital of Liaoning province
Construction has started on China’s largest production base for vehicle batteries, a US$600m investment in the Xi’an Hi-Tech Industrial Development Zone led by Samsung of South Korea.
Continental has formed a business unit headquartered in Silicon Valley to focus on high tech future transport solutions for the automotive industry.
Mazda is developing a diesel-electric hybrid engine, which will boast of a fuel economy rate of 2.5 l/100km, The Motor Report said citing The Yomiuri Shimbun.
Brilliance China Automotive Holdings has said its net profit rose 79% to 3.63bn yuan in the first six months of the year.
Wabco Holdings says it has been awarded a new long-term agreement by an unnamed manufacturer of commercial vehicles headquartered in Europe for brake actuator technologies on a truck platform that will enter markets in south-east Asia.
Samsung SDI says it has signed a MOU on the establishment of a ESS (energy storage system) joint venture with Sungrow of China.
Mercedes-Benz India has announced an upward revision of the price of its models effective from 1 September.
Posco says it is to start construction of a lithium plant in Argentina with an annual production capacity of 200t, due to commence operations at the end of December.