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    Japan’s Mitsuboshi Belt expands overseas business
    Mitsuboshi Belt Co. Ltd., a Japanese timing belt supplier, has announced two new corporate developments with an aim to expand its business in overseas markets, where it sees growth over the medium to long term, according to a press release dated April 11. As part of the first announcement, the company said it will establish a new company in South Korea in order to “respond to demand in Korea more efficiently and in a timely manner.” The company, called Mitsuboshi Belting Korea Co., has it...
    Valeo announces new Power division
    French automotive supplier Valeo had earlier in 2024 announced its intention to merge its thermal and powertrain activities into a single entity to better address the electrification market expectations and to further improve its competitiveness and financial performance. Following the announcement, the company has created the Valeo Power division on April 22, according to a press release issued on the same day. The company believes the acceleration of electrification relies on powertrai...
    Toyota strengthens its battery production capabilities
    Toyota Motor Corp. (TMC) has agreed with Panasonic Holdings Corp. (Panasonic HD) to make Primearth EV Energy Co. Ltd. (PEVE) a wholly owned subsidiary, according to a press release dated March 5. The move is aimed at strengthening PEVE’s capabilities in mass-producing automotive batteries. The acquisition took place in late March. Among Toyota-affiliated companies, currently PEVE, Toyota Industries Corp., and Prime Planet Energy & Solutions Inc. (ownership: Toyota 51%, Pa...
    MEMA announces formation of Aftermarket Suppliers CEO Council
    The Motor & Equipment Manufacturers Association (MEMA) Aftermarket Suppliers, an association in North America representing motor-vehicle component manufacturers, has announced the formation of the Aftermarket Suppliers CEO Council, according to a press release dated March 27. Exclusively for top aftermarket leaders, the council brings together executives from the automotive, commercial vehicle and remanufacturing sectors, the release added. MEMA said its networking groups are consisten...
    US-based PGW Auto Glass unveils new branding
    PGW Auto Glass has announced the launch of a new logo and brand identity to coincide with the launch of everythingautoglass.com, a vehicle identification number (VIN) decoding and point-of-sale software service focused on getting the correct auto glass solutions quickly and efficiently across the industry, according to a press release dated March 26. The new logo, launched at a company event earlier in March, captures the spirit of the company while reinforcing its commitment to advancing tec...
    Holley rebrands as Holley Performance Brands to accelerate growth
    Holley Inc, a US-based company involved in in automotive aftermarket performance solutions, has announced the shift in its operations branding from Holley Performance Products to Holley Performance Brands, according to a press release dated Mar. 20. The company says the change underscores its goal to expand its influence and enhance its presence across the high-performance automotive aftermarket sector. Evolving from its previous primary focus on classic muscle and truck, Holley Performance B...
    Mobileye to wind down its aftermarket solutions unit
    Self-driving technology company Mobileye has announced that it has chosen to wind down its aftermarket solutions unit that provides retrofitted advanced driver assistance technology, after a thorough review of this unit’s business prospects and investment needs, according to a press release dated Mar. 18. The company observed that the demand and future addressable market for retrofitted ADAS solutions has declined as automakers and other vehicle manufacturers have steadily increased the rat...
    Alliance Automotive Group’s locations to come under the NAPA Auto Parts brand
    Alliance Automotive Group (AAG), a European automotive aftermarket distributor, has announced a rebranding initiative that will see its network of over 275 locations come together under the unified banner of NAPA Auto Parts, according to a press release dated Mar. 19. Over the next 12-18 months, it will be aligned with its key parts brand, NAPA to “create a stronger, more globally recognised brand identity”, the release added. This move aims to bridge its subsidiaries under one cohesive b...
    Premium Guard launches revamped website for Interfil
    Premium Guard Inc. (PGI), a US-based aftermarket supplier of filters, has announced the launch of a redesigned website and parts catalog for its North American manufacturing hub and Mexico market leader, Interfil, according to a press release dated March 19. The company said Interfil's new website features a refreshed design with a sleek, modern layout for better user experience and the latest web technology for improved functionality. The website features extensive information about Interfil...
    Advance Auto Parts appoints three new independent directors
    Advance Auto Parts Inc., an automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, announced that it has appointed A. Brent Windom, Gregory L. Smith and Thomas W. Seboldt as independent directors to the Advance Auto Parts board, effective immediately, according to a press release dated March 11. In connection with these appointments, the company has entered into a cooperation agreement with Third Point LLC and Saddle Point Man...
    UK-based GSF Car Parts opens new Wembley branch
    GSF Car Parts, a UK-based supplier of car parts to the independent aftermarket, announced that it has opened its new Wembley, UK, branch on March 4, according to a press release dated March 5. This is the second branch the parts supplier has opened in 2024 and the first of several new sites it is set to open in the greater London area in 2024, it said. GSF said it supplies thousands of independent garages, national chains and retail customers (via www.GSFcarparts.com) throughout the UK w...
    Borg Automotive opens new headquarters in Denmark
    Borg Automotive, a Denmark-based automotive parts remanufacturer, announced that since the start of 2024, the Danish headquarters of the company have been located at a new address, according to a press release dated Feb. 14. Following a construction period of about a year, the company moved into a new, modern building at Funder Dalgårdsvej 12, Silkeborg, Denmark. The company aims to produce 100% of the energy required to operate the building on its own using solar panels. The company believe...
    Valvoline opens its 1000th franchise location
    Valvoline, a US-based supplier of lubricants and automotive services, has announced the opening of its 1000th franchise-operated location under its Valvoline Instant Oil Change and Great Canadian Oil Change brands, according to a press release dated Feb. 8. The new 1000th franchise store is a Valvoline Instant Oil Change location operated by Quality Automotive Services, LLC (QAS), one of Valvoline's largest franchise partners. Commenting on the move, Valvoline President and CEO Lori Flees sai...
    TMD Friction-owned Bendix enters the Polish aftermarket
    Braking specialist TMD Friction has announced that it is expanding its European offering by introducing its braking brand Bendix in Poland to better serve the global automotive aftermarket, according to a press release dated Feb 12. Hart Sp. z o.o. will serve as the exclusive distributor of Bendix brake system parts in Poland. With this move, the company now offers Bendix in 17 countries in Europe, the Middle East and Africa. The Bendix product range includes brake pads, brake shoes and brake...
    Webasto divests its EV charging business to focus on core business areas
    German automotive component supplier Webasto announced on February 9 that Los Angeles – headquartered Transom Capital Group will acquire a majority stake in its EV charging solutions business, as part of Webasto’s divestment plan to focus on its core business areas. That said, Webasto said that it, however, plans to remain a minority shareholder in the EV charging business solutions division. The two companies signed a corresponding purchase agreement on February 7, 2024, Webasto said ...
    Continental inaugurates automated warehouse at Czech tire plant
    Continental has opened a fully automated high-bay warehouse at its tire production plant in Otrokovice, Czech Republic, according to a press release on Jan. 30. It has a storage capacity of more than 930,000 tires. With the facility, the premium tire manufacturer is centralizing its warehouses in the area of Otrokovice. As a result, Continental’s logistics processes could be further optimized while lowering CO2 emissions of its operations. The new warehouse is 43 meters high — which ...
    Denso expands aftermarket offerings with replacement sensors and support materials for workshops and wholesalers
    Denso, a leading supplier of original equipment (OE) sensors to vehicle manufacturers worldwide, has expanded its aftermarket range to include replacement sensors and support materials for workshops and wholesalers. The company has released two new technical leaflets, one for exhaust gas temperature sensors (EGTS) and another for mass airflow (MAF) sensors, which provide detailed information on the technical aspects of these sensors, their design features, and how to select and install them corr...
    Allison Transmission to drive innovation with new venture capital arm
    Allison Transmission, a leading designer and manufacturer of conventional and electrified vehicle propulsion solutions and the largest global manufacturer of medium- and heavy-duty fully automatic transmissions for commercial and defense vehicles, announced that it is launching Allison Ventures, according to a Business Wire press release on Jan. 30. Allison Ventures will strategically invest in, and partner with, startup and growth-stage companies to foster advancements in comm...
    Valeo says it remains the French company filing the most patents worldwide
    Valeo announced that it has ranked first once again among French patent applicants worldwide, with 1,218 patents published in one year, according to the ranking published by the Institut National de la Propriété Intellectuelle (INPI), which lists the first filings published with the world’s main patent offices, according to a press release dated Jan. 23. Valeo said its innovations are protected by a portfolio of almost 28,000 patents worldwide. Of the 1,218 patents published, 44% were in ...
    Yokohama Rubber establishes tire sales company in Italy
    The Yokohama Rubber Co. Ltd., has announced that Yokohama Europe GmbH, the Yokohama Rubber Group’s European regional headquarters, established Yokohama Pneumatici Srl as a tire sales company in Italy in August 2023, according to a press release dated Jan. 23. “Pneumatici” is Italian for tire. The new group company began operations focused on the sale of passenger car, truck and bus tires on Jan. 1, 2024. The company believes Italy is one of the major tire markets in Europe, and Yokohama...
    Rental firm Hertz to sell 20,000 EVs due to low demand
    Rental firm Hertz Global Holdings has announced that it will sell approximately 20,000 electric vehicles from its US fleet, or about one-third of the global EV fleet, according to an SEC filing dated Jan. 11. The sale, which was initiated in December 2023 and is expected to take place over the course of 2024, will cover multiple makes and models. The company expects to reinvest a portion of the proceeds from the sale of EVs into the purchase of internal combustion engine (ICE) vehicles to meet c...
    PARTS iD announces delisting from NYSE American
    PARTS iD Inc. has announced that it received notification from the NYSE that the NYSE has initiated proceedings to delist the Class A common stock of PARTS iD Inc. from NYSE American, according to a press release dated Jan. 2. The NYSE also indefinitely suspended trading of the company’s Class A common stock effective Dec. 26, 2023. PARTS iD does not intend to appeal the NYSE’s determination, the company said. Significance: According to the release, the NYSE determined t...
    Bridgestone divests Russian assets to S8 Capital
    Bridgestone Europe NV/SA has announced the sale of its Russian assets to S8 Capital, a Russian diversified holding company, according to a press release dated Dec. 20, 2023. The deal has received all necessary regulatory approvals. The agreement includes a tire manufacturing plant in Ulyanovsk, Russia, and a sales and marketing office in Moscow. Bridgestone has been present in Russia since 1998. The company suspended all manufacturing activities in Russia in March 2023. Significance: "As p...
    Renault reorganizes sales and marketing functions to focus on aftersales and distribution
    Renault Group is reorganizing its Sales and Marketing functions to focus on two key areas: Aftersales, and also the distribution network and customers. As part of the move, the company has announced a number of new appointments in two Sales and Marketing departments, giving new emphasis to their strategic roles in steering and development. The new organization has been effective from Dec. 18, 2023. The company said its objective is to coordinate all the group's aftersales activities and deplo...
    ZF shifts focus from autonomous transportation systems to engineering services
    ZF, a technology company based in Friedrichshafen, Germany, has announced a shift in its business model for its global shuttle business. The company will no longer aim to facilitate entire autonomous transportation systems, including shuttles and fleet management, but instead focus on providing engineering services to customers and developing the building blocks needed for autonomous driving, according to a press release on Dec. 19. Existing partnerships and projects related to the GRT shuttl...
    UK-based GSF Car Parts sets out future growth strategy
    GSF Car Parts, a UK-based supplier of car parts to the independent aftermarket, announced that its Executive Chairman Sukhpal Singh Ahluwalia and CEO Steve Horne have unveiled an ambitious and trailblazing vision to invest, expand and improve the leading automotive aftermarket business at its Supercharged for Success staff conference this week, according to a company release dated Dec. 14. More than 300 managers from across the national motor factor’s 180 branches and specialist support tea...
    Transtar forms NexaMotion Group to combine automotive aftermarket businesses
    US-based Transtar Holding Co. has announced the formation of NexaMotion Group, according to a press release dated Dec. 1. The new company will encompass the automotive aftermarket businesses that serve automotive professionals through distribution and e-commerce solutions. The group will include Transtar Industries, Transend, C&M Auto Parts, King-O-Matic, TransMart, Recon and Pro-King Automotive Products, the company said. Significance: According to the company, Neil Sethi, presid...
    Continental plans to boost value creation via cost cuts, efficiency gains and focus on high-growth areas
    German supplier Continental has outlined a strategy to increase value creation through cost reduction measures, improved efficiency, and a focus on high-growth business areas. The company aims to achieve a consolidated adjusted EBIT margin of around 8-11% in the next two to three years and improve within this range, according to a press release dated December 4. In the Automotive group sector, Continental will focus on value-creating business areas with high growth, including the User Experie...
    Japan’s JTEKT establishes first aftermarket sales office in Africa
    Japan’s JTEKT Corp. announced that it has established JTEKT Sales Middle East (JSME) in Nairobi, Kenya, with the opening of a new JSME Kenya branch, according to a press release dated Nov. 28. The move aims to strengthen the company’s sales network in Africa, where future growth is expected, the release added. In order to strengthen its aftermarket business, JTEKT launched an aftermarket business headquarters in April 2021 and has been strengthening the sales expansion of aftermarket...
    Magneti Marelli Parts & Services embarks on digital transformation with Project 5.0
    Magneti Marelli Parts and Services, the division of Marelli dedicated to the distribution of spare parts, automotive components and technical information to the independent aftermarket, announced that it is implementing Project 5.0, a comprehensive digital transformation plan aimed at enhancing customer satisfaction and operational efficiency, according to a press release dated Nov. 9. “Project 5.0 represents our determination and commitment to lead the independent aftermarket towards new d...
    US-based Holley realigns business with seven new verticals
    Holley Inc. (Holley), a US-based manufacturer of high-performance aftermarket products for car and truck enthusiasts, announced that it is implementing a new organizational design, according to a press release dated October 19. As part of the strategic realignment, the company has established seven new verticals in an effort to strengthen its ability to serve the classic vehicle market while also expanding its focus on aftermarket solutions for newer model vehicles. The new verticals are C...
    Tritium secures a major order from French EV charging network Driveco
    Electric vehicle charging-equipment maker Tritium DCFC Ltd. will supply fast-charger technology and services to the French EV charging network Driveco, Tritium announced October 4. The company said that Driveco has placed its first order with Tritium for more than 200 fast chargers, including 100 PKM150 (150 kW) chargers and 100 RTM50 (50 kW) chargers. Tritium and Driveco’s partnership aims to provide reliable fast charging to the increasing number of EV drivers in France. Notabl...
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