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Apple to tap Indian auto, aerospace parts makers

Livemint

Livemint · 1y ago

Apple to tap Indian auto, aerospace parts makers

Apple is engaging with suppliers from various industries, including automotive, aerospace, and consumer electronics, to explore potential supplier arrangements in India. The company aims to boost its production and sourcing activities in the country. Apple is in initial discussions with suppliers that can manufacture custom parts for original equipment manufacturers (OEMs) and contract manufacturers. Some suppliers are already investing in capabilities and may become potential suppliers to Apple after receiving certifications and approvals. This move comes as Apple's contract manufacturers, Foxconn and Tata Electronics, are expanding production capacity in India to diversify their operations and supply chain.

Related News

Auto part makers look beyond cars to dodge global headwinds

Livemint

Livemint · 1m ago

Auto part makers look beyond cars to dodge global headwinds

Amid challenging conditions like shifting trade dynamics, geopolitical tensions, and cooling demand, especially in the US market, Indian auto part makers Samvardhana Motherson, Sona Comstar, and Bharat Forge are expanding into alternative sectors. These companies are exploring new growth areas such as railways, aerospace, defense, and electronics to boost growth as their core automotive business faces difficulties. This strategic shift follows increased tariffs on automobile-related imports into the US.

Auto sector pushes 3-step plan to cut China dependence for rare earth magnets

Economic Times

Economic Times · 1m ago

Auto sector pushes 3-step plan to cut China dependence for rare earth magnets

The Indian auto industry has proposed a three-step plan to reduce dependence on China for rare earth magnets, crucial for electric vehicles. This includes incentivizing local assembly and recycling, as well as securing supplies from countries like Australia and Vietnam. Industry leaders urge government engagement with China to ease export restrictions while developing downstream and upstream domestic processing capabilities. Tensions with China complicate the situation, though some approvals for European parts makers offer hope.

Carlyle creates India auto parts platform with Highway-Roop Automotives buyout

VCCircle

VCCircle · 5m ago

Carlyle creates India auto parts platform with Highway-Roop Automotives buyout

Carlyle has entered India's auto parts industry by acquiring a controlling stake in a newly formed company from the merger of Highway Industries and Roop Automotives. This marks Carlyle's first investment in the Indian auto-parts sector, aiming to capitalize on opportunities in advanced manufacturing, particularly in the auto components supply chain. The transaction involved a share swap between Roop and Highway, with Carlyle subsequently acquiring a majority stake. This move follows similar investments by other private equity firms in India's auto sector.

Skoda consignments won't be stopped over $1.4 bn tax dispute: Govt to Bombay HC

Livemint

Livemint · 4m ago

Skoda consignments won't be stopped over $1.4 bn tax dispute: Govt to Bombay HC

The Indian government assured the Bombay High Court that Skoda Auto Volkswagen India’s consignments would not be halted over a $1.4 billion import tax dispute. Skoda challenges the classification of imported auto parts as completely knocked down (CKD) kits, which attract higher duties. The government argues the parts should be taxed at CKD rates. Skoda’s plea seeks to prevent customs from reclassifying past imports and requests an interim stay on the notice’s implementation.

Toyotetsu to establish ₹450 crore plant in Karnataka’s Bidadi: Report

Livemint

Livemint · 11m ago

Toyotetsu to establish ₹450 crore plant in Karnataka’s Bidadi: Report

Toyotetsu India Auto Parts plans to invest in a new plant in Bidadi, near Bengaluru, marking their fourth plant in the area. The investment was approved by the Karnataka government as part of 20 projects, which are expected to create over 3,400 jobs. The approved projects include investments from Toyotetsu India Auto Parts and ILV South Warehousing Parks Private Limited. Toyotetsu specializes in auto parts and has been operating in Bidadi since 1999. Aoyama Seisakusho Co. is also set to invest in an automotive fasteners production facility.

How a global deal will boost Bain Capital’s India industrials portfolio

VCCircle

VCCircle · 3m ago

How a global deal will boost Bain Capital’s India industrials portfolio

Bain Capital's recent global control-oriented deal aims to enhance its manufacturing portfolio in India, following investments in two auto component makers in the past seven months. The private equity firm invested in RSB Transmissions in September and plans further expansions in the Indian industrial sector. This strategic move highlights Bain Capital's focus on strengthening its presence and influence in the Indian market, particularly in the auto components industry, as part of its broader global strategy.

iPhone supplier Murata targets China budget smartphone makers

Economic Times

Economic Times · 1y ago

iPhone supplier Murata targets China budget smartphone makers

Japanese smartphone component supplier, Murata Manufacturing, is seeking to increase sales to Chinese makers of lower-end handsets targeting emerging markets. With the smartphone market expected to grow by 5% in the year ending March 2025, Murata aims to tap into the demand for mid- and low-end smartphones in regions like India, Africa, and Southeast Asia. The company, which supplies components to Apple and Samsung, is looking beyond saturated markets to expand its sales.

Apple is making it easier to self-repair your iPhone. Here's how it works

Livemint

Livemint · 1y ago

Apple is making it easier to self-repair your iPhone. Here's how it works

Apple is allowing customers and third-party service providers to use used Apple parts in iPhone repairs. This new process aims to make it easier for users to have their iPhones repaired while maintaining privacy and security. Previously, Apple users were unable to repair their iPhones with used parts due to "parts pairing." The company is also adding the Activation Lock feature to iPhone parts to prevent stolen devices from being dismantled for parts. Apple defends the use of genuine components and believes the parts pairing process is beneficial for maintaining quality.

Grapevine: Mahle, Sequoia Capital, Vance, and Shapoorji Pallonji Group in news

VCCircle

VCCircle · 7m ago

Grapevine: Mahle, Sequoia Capital, Vance, and Shapoorji Pallonji Group in news

Germany's auto parts maker Mahle GmbH is considering an IPO for its Indian unit. Sequoia Capital is reportedly in discussions to invest in a payments startup based in Bengaluru. The Shapoorji Pallonji Group is expected to initiate a significant fundraising campaign this week.

Mecho Autotech raises $2.4M, ventures into wholesale spare parts distribution

Startup News FYI

Startup News FYI · 1y ago

Mecho Autotech raises $2.4M, ventures into wholesale spare parts distribution

Nigerian startup Mecho Autotech, offering automotive spare parts, vehicle repairs, and maintenance services, has secured $2.4 million in a pre-Series A round. The company connects vehicle owners with workshops for repairs and plans to expand its wholesale distribution of spare parts. Nigeria's automotive aftermarket spare parts and maintenance sector is worth around $8 billion, with a significant need for reliable parts distribution. Mecho Autotech aims to address this issue by managing the importation and distribution of aftermarket spare parts, aided by its investor Global Brain Corporation, which will connect the startup to Asian parts makers.

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