The capital is to be invested in its factory in the North East of the UK, creating 40 new jobs over the next two years. According to AEM, the capital will enable the company to start producing copper-free EV motors for both passenger and commercial vehicles. 

The new facility is scheduled to be completed in 2028 within the company’s Hwaseong manufacturing complex.

The factory employed 1,070 staff and produced 2,100 TBR tyres a day. Further reasons for closure included the impact on local communities, issues with the rubber supply chain and the overall profitability of the factory.

On the stand BAE Systems displayed its current family of motors and inverters; these included the GPM-10 and GPM-12 direct drive motors alongside a GPM-5 motor with an Eaton MD4 (Medium-Duty 4-speed) gearbox, as well as the MAPS*, MPCS**, and GPI-10 inverters.

Forvia’s Fengcheng Mega Plant employs 1200 staff, housing 89 production lines dedicated to producing products in three main areas: display technologies, cockpit electronics and automated driving technologies for both passenger and Commercial Vehicles (CVs).

"This endeavour seeks to enhance the skills and employability of these women, enabling them to pursue their dreams. This perfectly aligns with our brand philosophy of "Koi Manzil Door Nahin”," says Shenu Agarwal, Managing Director and CEO, Ashok Leyland.

The high-powered 1 MW chargers are expected to go into series production in late 2024 and initially, will be rolled out in Finland and then later to other parts of Europe.

"Ashok Leyland’s mission to achieve Net Zero by year 2048 is one of the triggers to set up this plant in Uttar Pradesh."

Giorgio Zino is set to lead commercial operations in Europe, Danilo Fetzner in Latin America, Gauthier Ricord in Africa and the Middle East and Marco Franza in the Asia Pacific. Stéphane Espinasse has been appointed to lead Sales and Market Development of global operations.

Luca de Meo recently unveiled a roadmap for developing a competitive European green mobility ecosystem, co-signed by the heads of Europe’s largest commercial vehicle OEMs. The roadmap, submitted to the EU Parliament and Commission is premised on three pillars of supply, production and demand, encompassing views of all relevant industry stakeholders.

The company cut 150 jobs in the U.S. and Canada amid financial pressure as it seeks profitability. The cuts came in the manufacturing and administrative segments of the business.

Representing an approximate investment of USD600m, the new facility will be developed along “vertical production” principles a la Tesla, meaning that battery and vehicle assembly will take place at the same location.