The plant will be used for the assembly of LCVs as well as for the production of 50MW of green hydrogen using advanced electrolysis technology.

The company opened its first sales branch in Dubai, the UAE, expanding its global sales network by specifically bringing its full product range to the middle eastern markets.

Dayco is set to invest USD11.5 million in a new manufacturing plant in San Luis Potosi, Mexico, to make drive belts - the new facility is scheduled to open in Q1 of 2024.

Watèa was created by Michelin in 2021 to offer an LCV subscription service, helping clients with procuring vehicles and charging infrastructure and providing them with digital services.

The funds raised are intended to support the company’s research and development into e-mobility, autonomous vehicles and advanced safety systems.

The project brings together a consortium led by HVS and includes Fusion Processing, Grayson and PNDC.

Scania has issued a green bond worth SEK3bn to support further investments into electrification, and it has launched a venture capital fund totalling SEK2bn to support fledgling tech firms in the vehicle industry. 

These are specially developed training centres that are designed to support the sale and services of Bharat-Benz branded trucks in the south east and now the east of the country.

The “TractEasy” autonomous software was provided by EasyMile SAS utilising a range of sensors and cameras with real-time processing for autonomous hauling designed to automate the manufacturing process making it more efficient.

The facility has a capacity of 8 GWh per year and is expected to reach 14 GWh by 2024. Whilst details are sparse, the company has announced plans to build another European factory, this time in Hungary.

Costing EUR40m, the production area has grown from 7,000 to 18,000 square metres to fulfil EUR2 billion worth of new contracts from vehicle manufacturers.

A new one million sq. ft. site will house some 6,500 employees and will predominantly be responsible for automotive research and development (R&D) housing hi-tech hardware, software and vehicle testing facilities.