News

There were mixed results for the EU commercial vehicle market in Q1 2024. While van sales rose, truck sales dipped slightly, despite growth in the electrically chargeable truck market. Bus sales saw a rise, with electrically chargeable buses recording notable gains. In the first quarter of 2024, new EU van sales rose by 12.6%, with nearly 400,000 units sold on the back of strong results in key markets. Italy led with a remarkable 19.4% growth, followed by Germany at 12.7%, Spain at 10.9%, and France at 8.7%.

ABB has opened a new €20 million injection molding manufacturing site at Evergem, near Ghent in Belgium, to meet the growing demand for safe, smart and sustainable electrification solutions in Europe. The global electrical enclosure market size is projected to grow from $7.42 billion in 2024 to $13.15 billion by 2032 due to increasing demand for new buildings, the modernization of existing buildings with more efficient and reliable electrical systems, and advances in electrical distribution.

Food prices dipped by 0.5%. Raw materials dropped by 2.4%, while beverages surged 26.5%.

Metal prices jumped by 8.9%, led by tin (+15.8%) and aluminum (+12.6%). Precious metals rose by 8.6%.

In 2024 and 2025, overall commodity prices are forecast to decline slightly but remain about 38 percent above pre-pandemic levels. Unlike prices for most other commodities, oil prices are set to increase in 2024, by 2 percent. Gold and copper prices are also set to rise this year, by 8 percent and 5 percent, respectively. In all, disinflationary tailwinds from moderating commodity prices appear essentially over.

Bosch inaugurated the second office building of its Engineering Center in Cluj, Romania, following an investment of roughly EUR 21 million implemented over three years. The total investment in the two buildings of the center in Cluj, started in 2017, amounts to over EUR 50 million.

The official opening took place on April 23, in the presence of the company's local management and representatives of local authorities and partners.

LG Business Solutions is collaborating with SVT Robotics, a software provider that empowers IT teams to seamlessly integrate, monitor and scale automation to integrate LG’s new CLOi CarryBot autonomous mobile robots into US warehouse environments. By leveraging the SoftBot Platform from SVT Robotics, prebuilt integrations easily enable the LG CLOi CarryBot AMRs to connect to virtually any warehouse management solution. The SoftBot Platform streamlines integration between hardware and software partners including Warehouse Management Systems, Warehouse Execution Systems, Material Control Systems, vertical lifts, packaging automation and more.

EU law makers have sealed a deal cementing the most ambitious CO2-reduction targets for trucks and buses globally by 2030. While vehicle targets are part of the puzzle for decarbonising truck and bus transport, it is insufficient to only regulate the supply side without addressing demand roadblocks. 

Decarbonising truck and bus transport is a team sport involving many players across the entire transport and logistics ecosystem.

Hyundai Motor Group plans to invest $50 billion and hire 80,000 employees in South Korea through 2026. Over half the new Hyundai hires — about 44,000 people — will work on electrification, including “large-scale hiring” to build and operate new electric vehicle plants and SDVs.

The company will focus its investments and hiring on electrification, software-defined vehicles, autonomous driving, robotics and advanced air mobility.

Ford Motor Co. is retiming the launch of EVs and expanding its hybrid vehicles offerings as it continues to fine-tune its strategy for next-generation vehicles. The automaker said it will continue to build out an advanced manufacturing system, including greenfield construction and upgrades to its existing assembly plants — while it prepares to produce its next-generation electric vehicles.

Energy prices gained 2% in March, led by coal (+5.9%) and natural gas Europe (+5%).

Non-energy prices increased (+2.2%).

Food prices inched up by 0.6%.

The BMW Group and Tata Technologies, a global product engineering and digital services company, have announced that they have signed an agreement to form a JV with the aim to establish a software and IT development hub with locations in India. The main development and operations activities shall be established at Bangalore and Pune. In Chennai, the focus shall be on business IT solutions. This collaboration between Tata Technologies and BMW Group represents a shared vision of innovation and excellence in automotive engineering and digital solutions.

Flying car startup Pal-V has received an order for 100 of its flying vehicles from Aviterra, a Dubai company that plans to bring the flying vehicles to the Middle East and Africa. 

The Pal-V (personal air and land vehicle) vehicle Liberty is certified to drive on public roads and expects its aviation certification this year.

The Pal-V Pioneer Edition is powered by e-fuels and hybrid fuel technologies. Pal-V has different versions of its Liberty flying car, including a sport edition and a pioneer edition, which is highly personalized.

Heilind Electronics, a global leader in connector distribution, and Panduit, a renowned supplier of networking and electronic solutions, will participate in the upcoming Automotive Expo & B2B Meetings, co-located with the Manufacturing Expo in Sibiu, Romania. With a network spanning 40 locations worldwide, including a new facility in Germany, Heilind ensures efficient order processing and offers global "Value-Added Services." Together with Panduit, a provider of innovative electrical and network infrastructure solutions, Heilind will present the latest advancements in electronics, mobile solutions, software development and energy technologies at Automotive Expo.

BMW and NTT DATA have signed an agreement to establish a Joint Venture in Romania. The BMW Group and NTT DATA have been collaborating across a wide array of projects for over 30 years. 

The companies announce plans to open a new software development center for software solutions in Cluj-Napoca. This collaboration aims to assist the carmaker in leading the digital transformation.

Series production will start in Romania and Mexico in 2025; in this context, FORVIA HELLA will also bring the NCAP-relevant safety function "Child Presence Detection" based on ultra-wideband technology onto the streets for the first time.

The Smart Car Access system from FORVIA HELLA is based on ultra-wideband technology (UWB). The system allows the end user to open and close the car completely hands-free and start the engine without having to pick up their smartphone.