ZF India is implementing its 2021 REFRESH INDIA strategy, which focuses on offering next generation mobility solutions through the combination of the   ZF technologies, as well as new emerging ACE technologies - Autonomous, Connected and Electrification.

The facility will increase the supply of its high-powered fuses for EVs and other applications. The 10 million USD investment in this facility is part of a 750 million USD investment strategy into the company’s North American manufacturing base.

The group’s uplisting to the MDAX is recognition of its middle level, or “mid-cap”, market capitalisation.

Hundreds of journalists packed the plush conference room on the first floor of the brand-spanking-new building for the big reveal. Interestingly, the themes continually reiterated by the various Conti staff included sustainability, cost pressure, digitalisation driving efficiency as well as compliance & safety.

The Series B investments bring the Canadian startup’s total invested capital to USD280m.

The MoU outlines an investment over a span of five years, with the potential to generate up to 5,000 jobs, both directly and indirectly.

The plant is to have the capacity to produce 2,500 buses annually, but has been designed with the opportunity to double this, when required.

The facility is fully digitally controlled and is equipped with advanced storage systems, including gravity spiral and vertical reciprocating conveyors.

ULEMCo plans to put the money towards its existing R&D into new fuel cell electric and hydrogen combustion projects, as well as its proven dual fuel technology.

The company has invested GBP 700,000 in a new automated curtain strapping machine for producing max height curtains. The company said the investment offers improved efficiency and vastly increased throughput with the machine able to produce 32 pairs of curtains per day.

The company’s four other Re.Wi.Re registered vehicle scrapping facilities are in Jaipur, Bhubaneshwar, Surat and Chandigarh.

A year ago in 2023, Blue Energy Motors raised USD10m for investing in gas truck manufacture.