On October 14, the European Commission approved, under the EU Merger Regulation, the acquisition of sole control of Veritas AG and its subsidiaries (Veritas Group), of Germany, by HDT Automotive Solutions LLC, of the US. Veritas Group supplies fluid technology and polymer-based components to OEMs. HDT Automotive Solutions is active in the manufacture and sale of valve body devices, precision turbo assemblies and die casting products for the automotive industry, supplying OEMs and their direct suppliers. The Commission concluded that the proposed acquisition would raise no competition concerns, given the companies' moderate combined market shares.
On October 7, Jaguar Land Rover (JLR) announced that it has started manufacturing its own press tools in-house with an investment of GBP 1.7 million at its Halewood plant in UK.
The investment involves the installation of a new Press Die Manufacturing Centre, with five-axis milling machine, which manufactures press tools known as blanking dies from raw castings. The blanking dies are the first stage in the manufacture of car body panels, during new vehicle production.
JLR Halewood facilities will also be upgraded to enable the production of fully electric vehicles, as part of its new global Reimagine strategy, for the electrification of both Jaguar and Land Rover brands.
On September 29, Avtotor announced that Avtotor will create 7 factories, including a plant for the production of electric vehicles, in-line with the investment of RUB 32 billion under the SPIC framework.
The new factories will be deployed at the production site in Kaliningrad region. 6 factories will be created for the production of auto components, an engineering and training center, and an engineering company: plant of traction batteries, inverters and chargers, plant of electrical wiring, systems based on ERA Glonass technologies, plant of shock absorbers and chassis parts, seating plant for fabrication of frames, production of foam forms, sewing of upholstery, assembly, plant for non-ferrous casting and plastics plant.
The total area of indoor industrial buildings and structures will be 34,000 square meters.
The Kaliningrad authorities will support the demand for electric vehicles with subsidies and additional discounts. The region is planning to launch a program that would help to transfer the owners of old cars to environmentally friendly vehicles.