John Irwin Reporter John Irwin is a reporter for Automotive News Canada. [email protected] 734-716-5728 See All Staff Page Recent Stories Auto suppliers are asking for contract relief The CEO at a Tier 1 supplier told an industry conference this month that several of his smaller European subsuppliers have recently gone bankrupt. "I think every week we have a bankrupt subsupplier in Europe," he said. Faurecia's need for more software engineers fueled its acquisition of Hella Forvia, the supplier formed by Faurecia's acquisition of Hella this year, came into being in large part because of Faurecia's need to add more software engineers to its ranks. Bosch will be 'different company in 15-20 years,' CEO Hartung says The supplier will look like a different company as it adapts to electrification and increased automation, CEO Stefan Hartung said. Magna reports $156 million Q2 loss on impact of Russia-Ukraine war, higher costs Magna reported a loss in the second quarter as the supplier grappled with higher commodities and energy costs and the impact of the Ukraine war. Supplier ranking shows solid rebound but price pressure continues Suppliers are still bearing the brunt of increased material costs and supply chain shortages since at least last year, even as sales grew. Swedish startup Einride cleared to test driverless trucks on U.S. roads The Einride Pod will be remotely monitored by a human operator, while transporting goods on public roads with mixed traffic. Move over suppliers -- cloud companies are moving in Automakers and suppliers are creating oceans of new data that need to be managed and analyzed. Who better to partner with than Google, Microsoft, Amazon and other global giants of cloud commerce? Auto industry craves greater supply chain visibility Two years of disruptions caused by the pandemic, the microchip shortage and a wide range of supply chain challenges are prompting automakers and suppliers to pursue a better sense of where their parts are. Bosch readies North American plants for electrification push Despite worldwide headwinds making life difficult for auto suppliers, Bosch is seizing the moment to invest in North American plants. Porsche leads $400M investment in EV battery startup The investment in Group14 Technologies comes after Porsche raised its EV sales targets for 2030 to more than 80 percent of global deliveries. Magna Q1 earnings: Net income fell 41% amid microchip, inflation, war disruption Magna reported that net income plunged 41 percent to $364 million in the quarter ended March 31, down from $615 million in the same period a year earlier. Ukraine war costs German automakers 150,000 vehicles German auto production has been heavily impacted components shortages caused by the Ukraine war. Russian invasion of Ukraine may leave manufacturers hesitant to return Many of the companies that have moved operations outside of Ukraine or Russia might not be quick to return. Continental's Collective Perception system lets drivers look around corners Continental says its Collective Perception system can allow vehicles to pull together image data from other vehicles and infrastructure sensors to improve a driver's field of sight. Russia's threat to nationalize assets could cost auto industry billions Russia is considering seizing the assets of companies that have left the country in response to its invasion of Ukraine, putting billions of dollars in automotive assets at risk. Load More
John Irwin Reporter John Irwin is a reporter for Automotive News Canada. [email protected] 734-716-5728 See All Staff Page