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BennettThomas
I'm a seasoned industrial engineer with a keen interest in machine learning. Here to share insights on latest industry trends.
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BennettThomas
Release Time:2024-06-03
Auto component industry lost investment of around $ 1 billion due to economic slowdown, pandemic
The auto parts sector has lost a $1 billion investment opportunity as disruptions caused by an economic slowdown and the Covid-19 virus outbreak hit for two consecutive years, an industry association said. The industry spent $1 billion in fiscal year 2019, helping the market expand by 14.5% to attain peak sales of $57 billion, but revenue dropped by 12% and 3%, respectively, to slip to $45.9 billion in FY21. The sector’s Compounded Annual Growth Rate (CAGR) has been a meagre 4% between 2017 and 2021. In the last two years, the industry has declined by 15%, and has been compelled to optimise capital expenditure, said Deepak Jain, president, Automotive Component Manufacturers Association (ACMA). “The opportunity loss is to the tune of a billion dollars. Capex has not gone into capacity expansion; it has gone towards technology development over a period of time. The key challenge remains how and when we will be able to have sustained growth, that will invite investment,” Jain said. If ...
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are all vehicles going to be electric
BennettThomas
JasonBenedict
Release Time:
March 15, 2024, 6:56 PM
As the world becomes more aware of climate change and technological advancements. the transition towards electric vehicles is gaining momentum. Several nations. like the United Kingdom. Norway. and France. have declared their intention to prohibit the sale of gasoline and diesel cars in the future. Yet. it remains uncertain whether all vehicles will run on electricity eventually. Various factors like battery production expenses. charging infrastructure availability. and consumer willingness may present obstacles. Moreover. alternative fuels such as hydrogen fuel cells are also being explored. Consequently. while there may be an increase in the use of electric cars. it cannot be guaranteed that they will completely replace all other types of vehicles.
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