Elm Analytics - Automotive Supply Chain Risk Digest #259 - January 21 - 27, 2022
GM is investing $154M into its components plant in Lockport, New York. The investment will go towards equipment and renovations to support the production of a module for EV motors.
Stellantis is adding 850 jobs at its plant in Mulhouse, France, due to strong orders for the Peugeot 308.
Automakers are struggling to balance customer demand and frustration with vehicle subscription services.
MERGERS, VENTURES, ACQUISITIONS
GM will invest $7B in Michigan to build a new battery factory in Lansing and upgrade plants in Orion Township and Lansing. The investment will create around 4k jobs.
British EV battery startup Britishvolt announced a new agreement with a government-back research facility to develop more advanced EV batteries.
VW has formed a new partnership with Bosch to expand EV battery output in Europe.
As part of a $26B investment, Renault and Nissan will work together more closely on designing new EVs. They will increase the number of common vehicle platforms to five from four.
The EU antitrust commission has cleared Faurecia to takeover Hella.
Intel announced a $20B investment this week that will fund the construction of two new chip factories in Ohio. Construction will begin later this year, with production starting in 2025.
EV manufacturer Link EV is investing $265M into a new assembly plant in Puebla, Mexico. Production will begin in the second half of this year and will have an initial capacity of 1.2k vehicles.
Toyota is cutting production at its San Antonio truck plant due to supply chain and COVID-19 issues.
GM has added a second shift at its Oshawa plant to meet its new Silverado pickup demand.
VW resumed production at its Tianjin, China plant late last week following a shutdown on January 10 due to COVID-19 outbreaks in the area.
Rivian is ramping up production on its R1T pickup after missing its 2021 targets.
Nissan recalled around 793k Rogue SUVs in the US due to faulty wiring that could start a fire.
VW says it met EU CO2 targets for 2021 due to a rise in EV sales. The automaker added that it expects official confirmation from the EU later.
Semiconductor shortages halted Chrysler minivan production in Ontario for an additional week.