Denso, a Toyota group supplier and one of the world s largest makers of auto parts and components, has been ramping up its chip business in recent years, including by forging partnership deals to help it secure more semiconductors.
Owned by private equity firm KKR, Marelli announced last month its intention to close down the facility, which produces components for internal combustion engines, arguing the business had become unsustainable due to the transition to electric mobility. The planned closure had intensified fears that the switch to electric cars could have a significant impact on the thousands of jobs in Italy s automotive supply sector.
Indian Auto Parts Industry: The auto component industry provides a big opportunity for the country as about 50% of the manufacturing GDP of the country comes from the auto sector. In FY23, the Indian auto component industry clocked the highest-ever turnover of INR 5.6 lakh crore (USD 69.7 billion), and grew 32.8%.
Govt taking proactive measures to curtail greenhouse gas emissions: Union Minister Mahendra Nath Pandey aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.
Govt taking proactive measures to curtail greenhouse gas emissions: Union Minister Mahendra Nath Pandey indiagazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiagazette.com Daily Mail and Mail on Sunday newspapers.