Rising to this critical challenge, the government is taking a few long-term measures, Ayukawa stated.Semiconductor shortage is a big challenge for the automobile industry right now but the situation could also turn out to be a big opportunity for the domestic auto component manufacturing industry, SIAM President Kenichi Ayukawa said on Thursday. Speaking at the Automotive Component Manufacturers Association of India (ACMA) annual session, Ayukawa, who is also the Managing Director and CEO of Maruti Suzuki India, said the demand for the technology-based equipment has increased manifold in various sectors alongside the automotive segment.”The challenge of COVID-19 continues globally. Different regions are being impacted at different times. While the global supply chain is already very complex, such disruptions and uncertainties further add to the challenge. Hence our preparation has to keep pace with the growing challenges,” Ayukawa noted.The global semiconductor supply chai...

IANSThe project cost for setting up Phase 1 of the manufacturing facility at Farrukhnagar will be around Rs 110 crore which will be completed by September 2023.Auto parts maker Uno Minda on Thursday informed that it will be investing nearly Rs 300 crore to expand its manufacturing capacity of four-wheeler alloy wheels and 4W automotive switches in order to meet the rising demand. The company has also announced plans to set up a subsidiary and office in Dubai to enhance its aftermarket pision’s reach in the MEA region. Minda Kosei Aluminum Wheel Private Limited, one of the key subsidiary of Uno Minda Limited, will be expanding its 4W Alloy wheel capacity by 60,000 wheels/month to 240,000 wheel/month at its plant in Bawal, Haryana at an additional investment of Rs 190 crore, the company said in a press release. The expansion is expected to be commissioned in two phase with the first phase of 30,000 wheel/month by December 2023 and remaining in June 2024, Uno Minda said. Besides ...