Let's take stock of what major events happened in the automotive circle on April 21, 2022.
Automobile event 1: Toyota invested more than 300 million yuan to transform the production line
According to foreign media reports, Toyota North American Branch said on the 19th that Toyota will invest 383 million US dollars to upgrade its engine production line in the United States. It is reported that the investment is mainly used for the development and production of four-cylinder engines, and distributed to four production bases, which will be used in internal combustion engines and hybrid models.
Toyota North America noted that the $222 million investment will be allocated to Toyota's Huntsville plant in Alabama to build a new production line for fuel and hybrid four-cylinder engines and to expand the plant. It is understood that the plant currently produces 900,000 engines per year. Invested $109 million in a plant in Troy, Missouri to update cylinder head production equipment; a $36 million investment in a plant in Jackson, Tennessee, to produce block fittings for new engines; and a $16 million investment in a plant in Georgetown, Kentucky, to expand production.
Auto Incident Two: Song PLUS New Energy once again replaced the Haval H6 to win the top spot
In March, the insurance volume of new motor vehicles was released, and on the list of compact SUVs in the popular consumer market, the Haval H6 lost the crown again, with 13135 sales of insurance, ranking fourth; the sales crown was once again won by Song PLUS New Energy with 21934 units, Honda CR-V sold 20803 units, ranking second, and Changan CS75 PLUS sold 13897 units, leading the Haval H6 with an advantage of more than 700 vehicles.
This is the second time that Song PLUS New Energy has won the top spot in this popular market, selling only 150 more vehicles than the Haval H6 in February, an increase of 38.32% month-on-month in March, leading with an absolute advantage of nearly 9,000 vehicles.
Car Incident Three: Schaeffler joins forces with Norwegian REEtec
According to foreign media reports, Andreas Schick, chief operating officer of German auto parts supplier Schaeffler, said that Schaeffler has reached a five-year agreement with the Norwegian company REEtec to ensure that its motor business receives rare earth magnet supply from Europe.
Schick said REEtec will supply rare earth magnets to Schaeffler starting in 2024, but he declined to disclose the amount of the deal. It is reported that the transaction will be officially announced on April 20. Schaeffler wants to secure the supply of permanent magnets to support its plans to become a major supplier of electric drivetrains to the global electric vehicle industry.
Automobile Incident 4: GAC Group signed a cooperation agreement with Yueke Financial Group
On April 20, Guangzhou Automobile Group Co., Ltd. ("GAC Group") and Guangdong Yueke Financial Group Co., Ltd. ("Yueke Financial Group") signed a strategic cooperation framework agreement in Guangzhou. The two sides will jointly establish an automotive industry fund to provide financial support for the development of the automotive industry, invest in technology incubation and achievement transformation in the automotive field, and strengthen cooperation in the automotive industry chain, so as to help GAC Group build a more independent and controllable industrial chain.
According to the agreement, in the future, the two sides will rely on the professional ability and resource advantages of Yueke Financial Group in the field of venture capital and the resources and technical advantages of GUANGZHOU AUTOMOBILE Group as a leading enterprise in the automotive industry, and jointly establish an automobile industry fund with relevant industrial capital, local capital, financial capital and social capital, etc., to fully integrate and give full play to the financial strength of both sides and provide financial support for the development of the automotive industry.
In terms of strengthening project investment cooperation, the two sides will give full play to their respective advantages to carry out project cooperation in the automotive field such as cutting-edge technology incubation, transformation of scientific and technological achievements, and investment in the technology industry, and when the conditions are ripe, the two sides will also jointly hold special investment and financing docking activities to promote the innovative development of the automobile industry.
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