Suppliers such as Hyundai Mobis, Denso, Magna and Robert Bosch are among those to have recently announced major investments in their manufacturing and R&D capabilities.
South Korea's largest auto supplier, Hyundai Mobis, will mark a major expansion of its North American R&D operations center this week by welcoming customers, politicians and media to the Plymouth, Mich., site for a tech event showing off its newest electrification and autonomous driving technology.
It can be a difficult balance for suppliers, considering that the pace of EV sales over the next decade is difficult to predict and could fall short of automakers' aggressive targets, said Sam Fiorani, vice president of global vehicle forecasting for AutoForecast Solutions. Japanese supplier Denso, a major parts maker for Toyota, said last year it will spend ¥10 trillion on R&D and capital investments over the next decade. That's up from the ¥8 trillion it spent in total between 2012 and 2021."We're making huge strides in our own manufacturing activities, and by doing this, we believe we can empower the entire industry to do the same, to the benefit of society over the medium and long term," he said, according to a news release.
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