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Eric Sills Of SMP Receives AASA Member Advocacy Award
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By Counterman
link hidden, please login to view (SMP) announced an expansion of its industry-leading Electronic Throttle Body (ETB) program. The program includes nearly 250 part numbers with coverage for import and domestic vehicles. All Standard ETBs include the required gaskets for installation, and applications with high OE failure rates feature multiple design improvements. Standard said its engineers evaluate the original part, identify the OE issues, and correct those problems to deliver more durable ETBs. For instance, the ETBs on Chrysler/Pentastar 2.0L and 2.4L engines are widely known to fail prematurely. Standard engineers increased the face width on the gear to reduce stress on the gear teeth, improved the geometry of the gear teeth to make them stronger, and upgraded the actual gear to a higher-strength, heat-resistant material.
link hidden, please login to viewrecently released ETBs for popular Volvo cars and SUVs through the 2022 model-year, as well as Jeep vehicles like the 2024-22 Grand Cherokee and 2024-18 Wrangler. Additional new coverage includes vehicles like the 2024-21 Ford F-150, 2019-15 Hyundai Sonata, and 2022-20 General Motors heavy-duty trucks. New related components include Accelerator Pedal Sensors for the 2023-21 Hyundai Elantra, 2023-22 Hyundai Tucson and 2023 Kia Sportage. In addition to the Electronic Throttle Body program, Standard said it also offers a wide array of related components, such as Accelerator Pedal Sensors, Throttle Position Sensors, Variable Intake Manifold Actuators, ETB Connectors and more.
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By Counterman
link hidden, please login to view (SMP) announced it has reached a definitive agreement to acquire AX V Nissens III APS (Nissens), a European manufacturer and distributor of aftermarket engine cooling and air conditioning products with a growing array of vehicle control technologies. The transaction values Nissens at approximately $388 million and is expected to be completed in the second half of 2024. “We are delighted to announce this acquisition, which will make our combined business the aftermarket leader in North America and Europe in thermal management products,” said Eric Sills, Standard Motor Products’ chairman and CEO. “It will also expand SMP’s portfolio of powertrain-neutral product categories. We plan to continue operating Nissens as a stand-alone unit, while leveraging the combined strength of the two companies to realize both cost and revenue synergies.”
In a news release announcing the acquisition, Sills added, “We believe the combination with
link hidden, please login to viewis a powerful one. Both companies have a similar go-to-market strategy of supplying full-line professional grade product offerings, and enjoy complementary product portfolios. Meanwhile, the two companies largely operate in different geographic markets. As such, we believe that we are stronger together, capitalizing on synergies in both markets and strengthening our position in each. Together, we can accelerate growth through cross-selling our product offerings, realize cost reduction through combined resources, and achieve enhanced operational excellence though collaboration and best practices.” “We are very excited to have SMP as our new owner”, said Klavs Pedersen, Nissens’ chief executive officer. “We have been following SMP’s activities in the US, and we see a lot of similarities in the way SMP and Nissens operate in their respective focus regions. I have personally known the SMP management team for several years, and I believe there is a very strong cultural fit that will support and accelerate the positive development of both companies. We look forward to becoming part of the SMP family.”
The transaction is subject to certain closing conditions, including receipt of applicable antitrust and other regulatory approvals.
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By shelitaauto
Source: Gasgoo
Image source: Scout
link hidden, please login to view Group’s Scout brand has received nearly $1.3 billion in incentives for its $2 billion plant in South Carolina. The state’s governor Henry McMaster signed the bill approving the incentives. South Carolina Commerce Secretary Harry Lightsey said Scout will also receive up to $180 million in tax credits based on hiring to promote job development. Vw recently revealed that Scout is expected to create 4,000 jobs in the region. Scout’s South Carolina plant will need workers in the body shop, paint shop and final assembly shop.
Scout’s new plant is expected to open by the end of 2026, a $2 billion, 1,600-acre facility that will focus on building electric trucks and durable SUV models.
Earlier this year, Scout CEO Scott Keogh said the company would launch its first all-electric SUV in the third quarter, with a starting price expected to be $40,000.
“I think the design is 85, 90, 95 percent done,” Keogh said. I call it a ‘big B-class SUV.’ We will also release a full-size pickup truck in the future. These are all models that we’re bringing to market, and when we’re ready for an official announcement, we’ll announce them.”
The Volkswagen Group is hoping the Scout brand will help it break through in the U.S. electric pickup market. The German automaker is aiming to increase its share of the U.S. auto market.
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By shelitaauto
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link hidden, please login to view Source: Gasgoo
As part of the EU’s 1.4 billion euro ($1.52 billion) state aid package, BMW is the only car manufacturer to receive EU funding for a hydrogen project.
Other companies that have received funding include tire maker Michelin Group and aircraft manufacturing and development company Airbus. The European Commission said on May 28 that the initial funding is expected to unlock an additional 3.3 billion euros in private investment.
The Hy2Move program is the fourth round of funding related to hydrogen energy and focuses on mobility. The hydrogen energy initiative has been declared one of the key projects of common European interest and is expected to play an important role in the EU’s 2050 carbon neutrality goal. Other important projects of common European interest include semiconductors and batteries for electric vehicles.
Details of BMW’s project and the amount of funding will be announced shortly after the scheme receives final approval and restrictions on publication of trade secrets are lifted, the commission said. BMW is one of the few companies to support hydrogen fuel cell technology and has launched a pilot fleet of hydrogen-powered X5 SUVs.
Image source: BMW
The iX5 features a hybrid battery/fuel cell drivetrain with a total output of 401 HP (295 kW). Two 700-bar carbon-fiber-reinforced plastic hydrogen storage tanks can hold about 6 kilograms of hydrogen and travel 504 kilometers (303 miles) in WLTP conditions. For now, BMW has yet to commit to mass production of the iX5.
Other automakers backing hydrogen include Toyota, Renault, Hyundai and Honda. Toyota makes the Mirai fuel cell sedan, and Renault says hydrogen can power the internal combustion engine in its Alpine range of sports cars.
The “Hy2Move” project will be co-funded by Estonia, France, Germany, Italy, the Netherlands, Slovakia and Spain.
A total of 11 companies plan to participate in 13 programs. The European Commission says it expects to create 3,300 jobs by 2031.
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By Counterman
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link hidden, please login to view announced the release of its link hidden, please login to view link hidden, please login to view link hidden, please login to view that it said highlights SMP’s commitment to being a good corporate citizen with a focus on increasing its sustainability profile. The report provides insight into SMP’s initiatives, future goals and achievements in relation to its business, employees, communities and other stakeholders, according to the latest press information. Eric Sills, Chairman and CEO of SMP, commented, “On behalf of our entire SMP family, I am pleased to share with you our 2023 Sustainability Report. SMP continues to enhance our sustainability efforts, and we remain committed to our initiatives to ensure positive sustainability change within our organization and all the communities in which we operate.”
Highlights of this report include:
The development of additional powertrain-neutral safety and electrical products for the vehicles of today and tomorrow, including battery electric and hybrid electric vehicles Enhancement to its social programs including an additional focus on employee training and development initiatives Alignment of SMP’s commitment to standardized sustainability reporting with global applicable laws and regulations Reductions in Scope 1 and Scope 2 greenhouse gas (“GHG”) emissions working towards SMP’s stated goal of achieving carbon neutrality by 2050 The post
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