SUPPLIERS
![Germany's Rheinmetall buys US defence supplier for $950 mn](https://img.etimg.com/thumb/msid-112525314,width-100,height-75,resizemode-4/news/defence/germanys-rheinmetall-buys-us-defence-supplier-for-950-mn.jpg)
Germany's Rheinmetall buys US defence supplier for $950 mn
German arms maker Rheinmetall has acquired US-based vehicle specialist Loc Performance for $950 million, enhancing its foothold in the world's largest defense market. Loc Performance, known for its work on military vehicles, agriculture, construction, and mining equipment, will integrate its expertise into Rheinmetall's global supply chains. This acquisition positions Rheinmetall to compete for US military contracts worth over $60 billion, including the XM30 infantry fighting vehicles and the Common Tactical Truck (CTT) programs. As demand surges post-Ukraine invasion, Rheinmetall aims for record sales of 10 billion euros this year.
![Think making cars is hard? Try being a supplier](https://img.etimg.com/thumb/msid-112392538,width-100,height-75,resizemode-4/small-biz/trade/exports/insights/think-making-cars-is-hard-try-being-a-supplier.jpg)
Think making cars is hard? Try being a supplier
Major component manufacturers such as privately owned Robert Bosch GmbH, ZF Friedrichshafen AG and stock-market listed Continental AG have been hurting for years amid a cornucopia of inflationary and competitive pressures, plus the slow recovery of car production following the pandemic.
![MCA penalises Zerodha, Apple supplier Wistron for company law breach](https://img.etimg.com/thumb/msid-112229899,width-100,height-75,resizemode-4/tech/technology/zerodha-key-managerial-personnel-penalised-for-failure-to-appoint-cfo.jpg)
MCA penalises Zerodha, Apple supplier Wistron for company law breach
Zerodha filed a suo-moto application on January 9, addressing the non-appointment of a CFO between December 20, 2021, and March 23, 2023. This filing led to the MCA's hefty penalty against the company. This penalty comes at a time when new-generation asset management companies like Zerodha Fund House target retail and small-town markets for long-term growth.
![Vivo working with over 30 local component suppliers for its smartphones](https://img.etimg.com/thumb/msid-112141146,width-100,height-75,resizemode-4/industry/cons-products/electronics/vivo-working-with-over-30-local-component-suppliers-for-its-smartphones.jpg)
Vivo working with over 30 local component suppliers for its smartphones
Going forward, Vivo will be moving to a new manufacturing facility in Noida in 2024 and start sourcing components such as stabilisation modules for cameras, OLED displays, memory modules and more to increase value addition as part of its next phase of expansion.
![Nvidia supplier SK Hynix posts 6-year high profit on AI boom](https://img.etimg.com/thumb/msid-112005033,width-100,height-75,resizemode-4/tech/technology/nvidia-supplier-sk-hynix-posts-6-year-high-profit-on-ai-boom.jpg)
Nvidia supplier SK Hynix posts 6-year high profit on AI boom
SK Hynix, South Korea's top chip maker, recorded its highest quarterly profit since 2018, boosted by strong AI chip demand, particularly high bandwidth memory (HBM). Despite this, shares dropped 8.4% due to tech sector declines. The firm plans to ship 12-layer HBM3E and HBM4 chips soon, remaining a key Nvidia supplier.
![Stallion India Fluorochemicals gets Sebi's approval to float IPO](https://img.etimg.com/thumb/msid-111927912,width-100,height-75,resizemode-4/markets/ipos/fpos/stallion-india-fluorochemicals-gets-sebis-approval-to-float-ipo.jpg)
Stallion India Fluorochemicals gets Sebi's approval to float IPO
Proceeds from the issue will be used towards funding working capital requirements, capital expenditure for its proposed facilities in Maharashtra and Andhra Pradesh, and general corporate purposes.
- Go To Page 1
Hindalco looks to take 'direct' route to rev up auto parts biz
Hindalco Industries, part of the Aditya Birla Group and the world's largest aluminium rolling and recycling firm, is increasing its focus on the EV auto component sector. Their $6.1 billion capex plan, initiated in 2022, includes a $735 million expansion to add 260 kilotonnes to downstream capacity by FY27. Aiming to directly supply auto manufacturers with precision parts, Hindalco enhances margins beyond material supply. Initiatives include Chakan facilities for battery enclosures and Tata Ace EVs bodies. It forms downstream units for sectors like packaging and construction, noting low aluminium usage as growth potential. Hindalco also emphasizes a personal mobility segment for EVs.
How states are wooing Tesla’s component suppliers anticipating carmaker’s India entry
While the centre continues to woo Tesla, state governments including Gujarat and Tamil Nadu are luring the EV maker's suppliers. India is also gaining from a shift away from China by global manufacturers.
States lure Tesla component suppliers; bumper exit for Snapdeal founders
Happy Thursday! Tesla’s suppliers are looking for locations to double down on their India operations. This and more in today’s ETtech Morning Dispatch.
Centre woos Tesla and states gear suppliers
The southern state-widely regarded as an automotive and electronics manufacturing hub-already has some of Tesla's suppliers based there. This includes a European metal automotive component maker, which is looking to expand its existing operations,and a German manufacturer, which has a joint venture in Pune, manufacturing high performance rubber parts there.
Amazon could face probe over treatment of UK grocery suppliers, watchdog says
Amazon's perceived code compliance score fell to 47% from 59% in 2023. The Groceries Code Adjudicator (GCA) 2024 annual survey shows that fewer than half of suppliers who directly supply Amazon believe the US corporation "consistently" or "mostly" adheres to the Groceries Supply Code of Practice (GSCOP).
Amazon could face probe over treatment of UK grocery suppliers, watchdog says
Britain's grocery regulator warns Amazon of formal investigation due to low compliance with supplier protection code. Amazon's compliance score drops to 47%. Regulator monitoring changes made by Amazon. Other retailers maintain average compliance score of 94%.
US says it has raised concerns with India about its Russia ties amid Modi's Moscow visit
"I will look to Prime Minister Modi's public remarks to see what he talked about but as I said, we have made quite clear directly with India our concerns about their relationship with Russia," State Department spokesperson Miller said in a press briefing. Prime Minister Modi is currently on a two-day visit to Russia and was hosted by President Vladimir Putin on Monday night at the Russian leader's dacha.
India-Russia ties: The optics of Modi with Putin when Nato meets in Washington
While Nato meets from July 9-11 in Washington to discuss Ukraine, Prime Minister Narendra Modi will visit Russia on July 8-9 to meet President Vladimir Putin. Nato’s primary focus will be on supporting Ukraine and potential membership, as emphasized by Secretary General Jens Stoltenberg. Indian Foreign Secretary Vinay Kwatra assures Modi's visit is pre-scheduled. This visit challenges Russia’s isolation narrative, reinforced by Hungary's recent support. Moscow-based expert Aleksei Zakharov underscores the significance of Russia's neutrality in India-China disputes. The trip addresses US concerns over India-Russia military-tech ties.
TVS Mobility arm acquires Italy-based automotive components supplier
TVS Mobility's subsidiary, SI Air Springs, has acquired Roberto Nuti Group to enhance its global market position and product range. The acquisition will enable them to leverage their distinctive skills and expertise in suspension systems, fostering significant international growth potential.
More Taiwanese ICT suppliers may relocate to India in near future, says official
Anticipating the Taiwan Expo 2024, Chend envisions a robust platform for showcasing products and fostering business opportunities to enhance Taiwan-India trade relations, reflecting the significant growth in economic cooperation between the two nations.
GST suppliers giving post-sale discount have to take undertaking from clients: CBIC
In a separate circular, Central Board of Indirect Taxes and Customs (CBIC) clarified that ITC is available to insurance companies in respect of motor vehicle repair expenses incurred by them in case of reimbursement mode of claim settlement.
Apple supplier Foxconn rejects married women from India iPhone jobs
A former human-resources executive at Foxconn India said the company's executives verbally convey the recruitment rules to its Indian hiring agencies, which Foxconn tasks with scouting for candidates, bringing them in for interviews and employing them.
Boeing offers to buy 737 supplier Spirit Aero for $35 per share: Report
Boeing has offered to acquire Spirit AeroSystems Holdings in a deal funded mostly by stock that values its key supplier at about $35 per share, Bloomberg News reported on Monday, citing people familiar with the matter. This offer represents a premium of nearly 6% over Spirit's stock closing price of $33.07 on Monday and a 22.4% upside to its closing price on Feb. 29, the day before Boeing's takeover talks became public.
Kallakurichi Hooch Tragedy: Police nab supplier behind deadly liquor in Tamil Nadu
Kallakurichi Hooch Tragedy: Chief Minister MK Stalin has vowed to crack down on the illegal liquor trade. However, the Opposition has demanded his resignation. AIADMK chief E Palaniswami called Mr. Stalin "incompetent," while state BJP chief K Annamalai suggested the government should close at least a thousand liquor shops in Tamil Nadu.
Discounting wars in quick commerce; tax relief for ecommerce suppliers
The recent funding raised by Zepto may trigger a discounting war in the quick commerce space. This and more in today’s ETtech Morning Dispatch.
'Made in India' bullet trains with top speed of 250 kmph in making
The Indian Railways has assigned the Integral Coach Factory (ICF) to manufacture two standard-gauge bullet trains this fiscal year, aiming to address delays in negotiations with Japanese suppliers over costs. These bullet trains, capable of speeds up to 250 kmph, will operate on the Mumbai-Ahmedabad High-Speed Rail corridor. Built on the Vande Bharat platform, the trains face tight delivery timelines. The project has been delayed due to land acquisition issues, and experts believe achieving the target speed within this fiscal year is challenging.
Series AA 127- The EV transformation - Part 1: How a multibagger got fresh tailwinds & gave 22,204% return in last 20 years
Below are the excerpts from its annual report of 2017-18. ELECTRIC VEHICLES – THE NEW MARKET DISRUPTOR | “We are anticipating the next market disruption through electric vehicles. We are closely reviewing and watching the situations and doing our ground level work. We are also mapping all of our existing products vis-à-vis EV to capitalise on the opportunities EV will throw at the component manufacturers, whether it is motors, batteries or any other system which will come into the electric vehicles, totally different from the conventional IC engine.” Cut to August 2023, five years down the line, the company commissions two plants for making on-board charger, off-board charger, motor control Units, DCDC converters, battery management systems, and more products catering to EV 2-wheelers and 3-wheelers. Now this is a reflection of the speed at which an auto ancillary company needs to function and also the product range it needs to have if it has to stay relevant in the changing world of the auto Industry. Foresight, planning and timely execution is the key.
Strong order flow likely to help BEL stay on growth path
The company anticipates order inflow of around Rs 70,000 crore over the next two years compared with the previous forecast of Rs 50,000 crore. The revised outlook reflects a new order prospect of Rs 30,000 crore for the Quick Reaction Surface to Air Missile (QRSAM) from the Army and Air Force, expected to materialize in the next fiscal year.
Apple supplier Foxconn among firms asked to cut power use in Vietnam
The request for energy-saving measures, which two other industry sources said was sent to multiple manufacturers, is precautionary and aimed at averting a repeat of last summer when power shortage led to over a billion dollars in lost output.
GST officers working on registration mechanism for 'shared warehouse' for e-commerce suppliers
GST authorities are developing a mechanism to address taxation and registration issues for shared warehouses used by e-commerce companies, where multiple suppliers store goods for last-mile delivery. This issue arises because suppliers have geo-tagged these warehouses as their 'additional place of business' under GST rules, raising concerns of potential fraudulent registrations and the risk of holding warehouses accountable for individual supplier defaults.
Luxury car companies keep it cool inside with advanced glass coatings
Car manufacturers are adopting sophisticated glass coatings to maintain cool temperatures inside vehicle cabins, reducing the reliance on air conditioning as temperatures soar above 45°C in certain Indian cities during the summer. This initiative coincides with the trend towards larger vehicles like SUVs and electric models, which demand more battery pack space, resulting in larger glass surface areas and thermal loads
Huawei's new phone uses more China-made parts, memory chip
Huawei's Pura 70 Pro showcases China's tech self-sufficiency advancements through increased use of Chinese suppliers, including HiSilicon's NAND memory chip, and Kirin 9010 processor, challenging U.S. sanctions and impacting the smartphone market.
Norms eased to draw in more suppliers for power equipment
India's primary planning and advisory body for the power sector has loosened a significant condition for power equipment supplies in public sector projects, aiming to enable utilities to issue tenders that facilitate greater involvement from private vendors, sources familiar with the matter revealed.
Load More