Teijin Automotive Systems starts Huntington, Indiana facility growth

Pictured from remaining to suitable: Huntington County commissioner Rob Miller Marla Foster, representing Indiana Condition Senator Andy Zay Mark Wickersham, executive director Huntington County Financial Enhancement Corp. Michael Senerius, chief promoting officer, Teijin Automotive Systems Huntington Mayor Richard Strick Steve Rooney, CEO, Teijin Automotive Systems Linda Walczak, Indiana Financial Growth Corp. Chris Crabtree, representing United States Agent Jim Banking institutions Jerry Reid, regional operations director, Teijin Automotive Systems. Photo Credit score: Business Wire)

Teijin Automotive Systems (Auburn Hills, Mich., U.S.) broke ground on May perhaps 12 to develop the abilities at its Huntington, Ind., facility, including a topcoat line and assembly place. These additions are reported to enrich the capabilities of the company’s Huntington facility, which currently include things like compression molding, bonding, water jetting, sanding and priming.

Specifically, Teijin Automotive Systems ordered 30 acres in the new Riverfork West Industrial Heart and will be making a 164,400 sq.-foot facility on this internet site to house a new paint line and assembly capabilities. This facility will be found throughout Indiana Freeway 9 from the company’s existing 350,000 square-foot producing facility. The new facility is predicted to be comprehensive, together with all tools installation, by Dec. 2023, and will utilize approximately 110 folks when operations commence in April 2024, and additional than 200 at full employment.

“As desire for our modern, light-weight parts continues to increase, we have the prospect to increase capabilities and ability to fulfill present-day and long term client wants,” Steve Rooney, Teijin Automotive Technologies CEO, and common supervisor of Teijin’s Composites Organization Device, notes. “This site close to to our existing Huntington facility designed perception due to the fact there was land accessible, and we realized we could access a expert workforce. We are grateful for the ongoing guidance and collaboration from the financial enhancement teams from the State of Indiana, Huntington County, and the Huntington neighborhood.”

Teijin Automotive Systems and its mother or father business, Teijin Ltd. (Tokyo, Japan), are building an financial investment of more than $100 million, including the land, constructing and tools, to help future expansion and maintain its competitive advantage. The Huntington place was selected for this expansion based mostly on a variety of factors, such as the availability of a competent workforce, proximity to a variety of current and prospective client amenities in Indiana and surrounding states and tax credits made available by means of the Indiana Financial Growth Corporation’s EDGE Method (Financial Progress for a Escalating Financial system).

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Volvo, Polestar rivalry starts to acquire condition

Volvo began after Polestar, in late January 2021, by which time its welcoming rival experienced presently rolled out two significant upgrades.

Volvo is now up to 8 major upgrades in whole, leaving it two guiding Polestar.

Volvo mentioned its enhance will reach extra than 190,000 cars from the model throughout the worldwide and highlighted that this 7 days it additional Australia, Hong Kong, India, South Korea, Malaysia, New Zealand, Singapore, Taiwan and Thailand to the listing of nations the place OTA updates are available.

Polestar, which celebrates its fifth 12 months as a stand-by yourself brand in 2022, deployed 40,000 upgrades to its rising fleet of autos by the middle of this 7 days, achieving 19 international markets which includes Germany, the Uk, the U.S. and China.

The other strategies Polestar separates by itself from Volvo in this arena is by giving an 11-inch infotainment monitor to Volvo’s 9-inch display and by together with exclusive applications this sort of as the Polestar Online video Participant.

Daring to be different from Volvo arrives from the leading — one thing Polestar CEO Thomas Ingenlath has designed clear for a long time.

A vital signal of this came in late 2020 when Polestar announced it would switch the Precept whole-electric GT principle into a output model, which we now know as the Polestar 5.

“With the Polestar Precept nobody will question me any more, ‘Will you generally stay that shut to Volvo’?” Ingenlath explained to Automotive Information Europe at the time. “It really is so clear that that is a car that you would not have within the Volvo model.”

Ingenlath really should know. His fingerprints are even now all around Volvo’s present-day lineup, which he served build as the brand’s head of design and style. Even right after remaining named Polestar CEO in 2017, Ingenlath proceeds as the general style supremo for both brand names.

Ingenlath a short while ago advised ANE the forthcoming Polestar 3 will present a different indication that the brand’s structure will stand apart from Volvo’s even nevertheless each vehicles will share the SPA2 underpinnings.

The Polestar 3 will have “a extra daring structure” than its Volvo sibling, Ingenlath said, introducing “there will be a much more polarizing, additional unique element to a Polestar.”

Even further evidence of Polestar’s drive to stand aside from Volvo is that it will underpin the Polestar 5, which will rival the Tesla Product S and Porsche Taycan, with an in-dwelling produced bonded-aluminum platform.

“This is likely to be our first prospect to style and design from a clean sheet of paper what the signature Polestar driving practical experience will be,” Steve Swift, who is head of automobile engineering for Polestar’s R&D heart in Coventry, central England, told ANE in February.

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Why Volvo’s CEO says that after IPO ‘the work really starts’

STOCKHOLM — Volvo Cars gained 200,000 new shareholders even before trading of the automaker’s shares started on Friday in Sweden.

When asked how he felt about having that many new bosses, CEO Hakan Samuelsson said: “The more the merrier.”

He said the the 94-year-old’s company’s entry onto the Nasdaq Stockholm marks the start of Volvo’s next phase, which will include transforming into an electric-only brand by 2030 and providing the “best customer relations in the business” through an emphasis on direct-to-consumer online sales.

“And now we have the money for it,” Samuelsson joked minutes before ringing the opening bell for the opening of trading. At that moment, Volvo rejoined the exchange for the first time since 1999. That was the year it left Volvo Group and became part of Ford Motor. The U.S. automaker sold Volvo to its current owner, Zhejiang Geely Holding, in 2010.

During an interview after the ceremony Samuelsson said that the next phase is “a huge job.”

Electric flagship

Some of the money generated from the listing will go toward is a new flagship crossover that will succeed the XC90, Samuelsson told Automotive News Europe.

The electric-only premium large crossover is due to be revealed next year. Samuelsson said in March the car would have a name rather than a number and letter combination. He gave another hint today: The new car’s name will start with a vowel.

Another high-cost item the listing funds will help to finance is the cost of transforming to batteries to power new-generation Volvos. Part of that includes joining forces with Northvolt as a strategic partner for joint development and manufacturing of next generation battery cells.

Samuelsson said he looks forward to keeping an eye on Volvo’s share price as he considers it an immediate indicator of whether his thousands of new bosses feel the company’s transformation into an electric brand is heading in the right direction.

“Today, we are 3 percent electric. Nine years in the future, we should be 100 percent electric. Now is when the work really starts,” he said. “We need to change because our consumers are going in that direction. If you really want to have people driving Volvos in the future, you better make them electric.”

Humble and faster

The completion of the listing culminated a 180-degree turn that Volvo made in February when it decided against a merger with sister brand Geely Auto.

Volvo CFO Bjorn Annwall said that while the automaker was assessing the merger it decided that the pace of change within the industry made an initial public offering the better move.

“We concluded that it’s much better to have an ecosystem than to have a hard-coded group where you try to kind of have a perfect 10-year plan,” Annwall told ANE. “You’re much faster and more nimble if you have smaller, independent units that seek collaboration where it matters but are not forced to do it when it doesn’t matter, so let every company pursue its own happiness.”

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