On September 21, Modulus Alternatives Investment Managers Limited announced that it has committed to invest INR 1.5 billion in Shivam Autotech Limited (A Hero Group Company), manufacturers of transmission gears and shafts in India. The first tranche of INR 1.05 billion has been invested.
Shivam Autotech manufactures and markets components for the auto sector to an original equipment manufacturer (OEM). Its current product offering includes different kinds of transmission gears and shafts, auto-electrical components, steering components, and various precision engineering component. Its infrastructure spans across 4 strategic locations including Gurgaon, Haridwar, Bengaluru and Rohtak.

Based on Modulus Alternatives Investment Managers Limited social media update

The Hungarian Investment Promotion Agency announced that GKN Automotive, a division of Dowlais Group PLC, has invested EUR 142.7 million to build a new site in Felsozsolca, intending to supply the regional hubs of Tier 1 companies and serve BMW, Mercedes-Benz, Suzuki, and Volkswagen plants in the region. This new site will produce half-shafts for both internal combustion engines and electric drive systems. It is expected to make around 230,000 half-shafts in 2023, while the final capacity planned for 2025 will allow the production of 3 million units. In the first phase of the investment, a 29,000 sqm complex of buildings has been constructed, including a production and logistics hall, an engineering center and an office building, and an additional building unit is under construction. This will cover a total area of 60,000 sqm, creating 200 jobs in 2023 and 1,500 in 2026. (From a press release dated September 8, 2023)

The Hirschvogel Group announced the additional detail of its product range for more sustainable and climate friendly mobility that will be presented at IAA Mobility 2023 in Munich, Germany. Among the products are the differential bevel gears, over 80% of which the company supplies for BEVs, along with other components for cars and trucks that include forged aluminum control arms and wheel carriers, weight-reduced transmission and rotor shafts for the electrified powertrain as well as heat sinks for power electronics in EVs. Also, Hirschvogel will showcase the first series components for fuel cell vehicles and vehicles with hydrogen combustion engines. In addition, Hirschvogel will display the AXIMO axle system for three-wheeled cargo bikes. (From a press release dated September 5, 2023)