Foxconn will buy a semiconductor factory that manufactures six-inch wafers from Taiwanese memory chip supplier Macronix International for $91 million. It will boost Foxconn’s ambition to make EVs and auto chips.

Declaring the US must "move fast" to win the car making future, President Joe Biden touted a commitment from the auto industry to make EVs up to half of U.S. sales by the end of the decade.

Toutche has named its London entity as its international headquarters to expand its overseas business and global presence. The entity will be strategic to Toutche’s global plans and supply chain operations.

The first of the many EV manufacturing facilities will be set up in Ghazipur, Uttar Pradesh. Omega Seiki will be investing Rs 1 bn in the state and creating 10,000 jobs in the next two years in Ghazipur.

The Automotive Component Manufacturers Association of India, ACMA has announced its findings on the automotive component industry.

The first batch of electric vehicles was flagged off at Tata Steel’s Pilkhuwa Stockyard in Uttar Pradesh. The company plans to deploy 27 EVs, resulting in a GHG footprint reduction by ~3500 tCO2e every year.

According to Ind-Ra (India Ratings and Research), the 193% sequential and 15% YoY increase in the domestic auto sales volumes in June 2021 was due to the relaxation of localised lockdowns.

ICRA warns of chip shortages, slow vaccination roll-out in some regions, logistics challenges and further lockdowns/curfews. The recovery of the Indian market will be slower compared to Europe or North America.

The Society of Indian Automobile Manufacturers (SIAM), the apex industry body, held the 15th Lecture Series on Digital Innovation and Smart Manufacturing: Industry 4.0 and Beyond, on virtual platform.