BorgWarner Q1 profits take a hit from electrification R&D, inflation
BorgWarner Inc. executives are expecting a boom in the electrification business but not before e-products put some strain on its profitability. The supplier saw first-quarter sales of $4.2 billion, up 8 percent from a year ago, and net earnings of.....»»
Corning to raise display glass substrate prices by 20% in 3Q23
Corning announced on May 24 that it will increase its display glass substrate prices by 20%, starting in the third quarter of 2023. The company said the price rise will offset the growing costs during the extended inflation......»»
EOI expects new US plant to break even in 2H23
Excellence Optoelectronics (EOI), a manufacturer of LED car lighting modules, expects the monthly performance of its new US plant to break even in the second half, with its total revenues and profits for 2023 to grow over 30% from a year earlier......»»
Corning to raise display glass substrate prices by 20% in 3Q2023
Corning announced on May 24 that it will increase its display glass substrate prices by 20%, starting in the third quarter of 2023. The company said the price rise will offset the growing costs during the extended inflation......»»
Corning to raise display glass substrate prices by 20% in 3H2023
Corning announced on May 24 that it will increase its display glass substrate prices by 20%, starting in the third quarter of 2023. The company said the price rise will offset the growing costs during the extended inflation......»»
Korea-based Hanon Systems to make in Georgia as IRA triggers investment wave in US
As the US keeps urging manufacturers to invest through a series of initiatives, including the Inflation Reduction Act (IRA), South Korea-based EV and parts suppliers are accelerating their moves to invest in the US......»»
Investors overvalue companies that align with presidential policies; their mistakes "leave money on the table"
Republican politicians typically favor low taxes and less regulation, which seems like a recipe for corporate profits and stock market success. In reality, however, this is not what happens......»»
Ford expects internal combustion engine volume, profits to grow through 2025
Although electric vehicles are expected to eat into combustion vehicle sales eventually, a top Ford executive projected "strong U.S. ICE and hybrid sales well into the next decade.".....»»
Suppliers want more insight into EV plans, Plante Moran study shows
Suppliers, already juggling higher costs and choppy vehicle assembly schedules, need more insight into automakers' long-term electrification plans so they can create efficient strategies of their own, according to the annual study......»»
Tesla supplier Panasonic to quadruple battery capacity by 2030
The Osaka-based company intends to tap subsidies provided by the U.S. Inflation Reduction Act, as well as focus on cylindrical batteries and the North American market to expand. .....»»
With Chinese battery materials detouring to avoid IRA and CRMA, South Korean suppliers reap rewards
China's battery material sector has continued to invest in South Korea, apparently as as a loophole to avoid the US' Inflation Reduction Act (IRA) and the EU's Critical Raw Minerals Act (CRMA). Due to China's massive influence on the battery raw mate.....»»
GigaDevice saw its 1Q23 profits decline by nearly 80%; promoting new products to turn the tide
China-based memory and MCU (multipoint control unit) supplier GigaDevice recently announced its operational performance for the first quarter of 2023. Revenue saw an annual decrease of nearly 40% and profits decreased by nearly 80%. Regarding the dow.....»»
Elon Musk to meet President Macron, other leaders at France conference
Elon Musk will meet Finance Minister Bruno Le Maire to discuss newly announced tax credits for green investments that have been unveiled to rival the U.S. Inflation Reduction Act......»»
Foreign carmakers slow in electrification would see high unused capacity in China
Major automakers based outside China, such as General Motors and Volkswagen, will likely lose market share in the world's largest car market with slower pace of electrification, according to Greenpeace. The situation is also projected to idle at leas.....»»
Pegatron posts revenue and profit decreases in 1Q23
Pegatron has reported net profits fell 40.4% sequentially to NT$5.05 billion (US$164 million) in the first quarter of 2023, when revenue decreased 11% on quarter to NT$318.1 billion......»»
Laster enjoys record revenues in April
LED auto lighting module maker Laster Tech reported net profits of NT$30.4 million (US$980,640) for the first quarter of 2023, up 98.5% with consolidated revenues for April growing 51.93% on year to come to NT$610 million......»»
Foxconn has a grim outlook for the year as profits take a nosedive
Apple supplier Foxconn reported a 56% decline in first-quarter net profit, its biggest quarterly fall in three years, falling short of forecasts.Foxconn posts profit lossDuring the January-March quarter, Foxconn disclosed a decline in net profit to T.....»»
Subaru plans 4 crossover EVs, 400,000 output in dramatic ramp-up
Subaru plans a four EV lineup by the end of 2026 and will add capacity to build 400,000 full-electric cars in Japan from around 2028. Operating profits nearly tripled in the company’s fiscal year ended March 31......»»
Nissan sees North America leading global sales surge after profits rise 52%
Nissan CEO Makoto Uchida forecasts a robust rebound in global sales, as Nissan reports a 52 percent increase in operating profit in the just-ended fiscal year......»»
DFI to pursue gross margin, profit growth in 2023
Taiwan-based industrial motherboard and computing device maker DFI will strive to increase its gross margin and profits this year......»»
Compal posts profit and margin increases in 1Q23
ODM Compal Electronics saw its net profits climb about 30% sequentially in the first quarter of 2023, with gross margin and operating margin also besting performances from the previous quarter......»»