Millennium-Backed Kodai Is Returning Cash to All of Its Investors
Founded in 2020 by Neville Shah and Joon Park, Chicago-based Kodai focused mainly on trading stocks linked to industries 'undergoing innovation-driven change,' according to an investor document. Tech shares have been pummeled this year by President Donald Trump's trade wars, with the Nasdaq Composite Index tumbling about 16% through Tuesday.
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Yahoo
24 minutes ago
- Yahoo
Automotive Turbocharger Market to Reach US$38.15 Billion by 2033
Automotive turbocharger market is currently thriving on the dual demand for enhanced fuel efficiency and high performance. Driven by strict emissions regulations, OEMs are universally adopting advanced turbo systems, particularly in expanding hybrid and downsized gasoline engine applications. Chicago, Aug. 13, 2025 (GLOBE NEWSWIRE) -- The global automotive turbocharger market was valued at US$ 16.72 billion in 2024 and is expected to reach US$ 38.15 billion by 2033, growing at a CAGR of 9.6% during the forecast period 2025–2033. Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service Industry titans are cementing their positions through high-value, long-term supply agreements. These deals highlight a clear trajectory towards hybrid applications and smaller, more efficient gasoline engines. BorgWarner has been particularly aggressive, securing a contract to supply wastegate turbochargers for a major OEM's 1.0-liter gasoline engines in Europe, with production set to begin in August 2027. Further demonstrating its hybrid focus, the company also won a high-performance turbocharger program for a 3.0-liter gasoline hybrid application in North America, with production commencing in September 2028. This momentum is sustained by extended contracts for midsized gasoline engines with a major North American OEM, ensuring production continues through 2028 and beyond. Download Sample Pages: The company's global reach is evident in a significant contract with a major East Asian OEM to supply turbochargers for their 1.6L engine for hybrid electric vehicle (HEV) SUVs. This deal builds upon a robust 18-year partnership with the customer. Production for this East Asian contract is scheduled to begin in 2027 at BorgWarner's Pyongtaek facility in Korea. These strategic victories solidify revenue streams and underscore the trust OEMs place in established players within the competitive automotive turbocharger market. Key Findings in Automotive Turbocharger Market Market Forecast (2033) US$ 38.15 billion CAGR 9.6% Largest Region (2024) Europe (37.8%) By Turbo Type Twin Turbo (26.70%) By Vehicle Type Passenger Vehicle (56.90%) By Propulsion Diesel (47.30%) By Distribution OEM (83.20%) By Propulsion Type Diesel (47.3%) By Distribution Channel OEM (83.26%) Top Drivers Stringent global emissions standards mandate more efficient engine technologies. Engine downsizing trend to improve fuel economy remains prevalent. Growing consumer demand for high-performance and high-torque vehicles. Top Trends Electrification of turbochargers (e-turbos) to eliminate turbo lag. Integration of turbocharging in advanced hybrid powertrain systems. Use of advanced, high-temperature resistant materials and new alloys. Top Challenges Increasing complexity and cost of advanced turbocharging systems. The long-term market threat from battery electric vehicle (BEV) adoption. Maintaining reliability and durability under higher thermal and pressure loads. Next-Generation Turbocharger Technology Redefines Performance and Efficiency Standards Innovation in automotive turbocharger market is delivering tangible performance gains across the board. Cummins Turbo Technologies (CTT) is set to launch its 8th generation Holset series 400 Variable Geometry Turbocharger (VGT) in 2024, a unit specifically designed for the demanding 10 to 15-liter heavy-duty truck market. In July 2024, Cummins also made its HE200WG turbocharger commercially available to meet stringent new emission standards. The consumer-facing performance segment is also seeing significant upgrades. The 2024 GM L5P engine features a new turbocharger with an 11 mm cage width on the turbine side, a notable increase from the previous 9.4 mm. This new L5P turbo has a 10-blade turbine, compared to the previous 11-blade design, suggesting higher flow capabilities. Further dimensional changes include a compressor wheel inducer that grew to 61.3 mm, a 0.2 mm increase, and a turbine exducer that grew by approximately 1.5 mm to 63.9 mm. These modifications contributed to a significant power boost for the 2024 GM L5P engine, which now produces 475 hp, up from 445 hp—an impressive improvement of 30 horsepower. Advanced Aerodynamics and New Product Lines Intensify Market Competition in the Automotive Turbocharger Market The quest for superior performance is pushing manufacturers to launch highly specialized product lines. Garrett Motion launched the G-XRace series of turbochargers in late 2024, aimed squarely at the high-performance and racing world. The specifications speak for themselves: the Garrett GXR 4567 model has 29% higher compressor air flow compared to the G45 1125 horsepower model. Not far behind, the Garrett GXR 4573 model features 11% higher flow compared to its G series equivalent. Meanwhile, Cummins' High Power Ratio-C (HPRC) technology, now integrated into its latest turbochargers, increases flow range capability by up to 25%. This breakthrough has been a game-changer for some customers, allowing them to uprate engines by as much as 25-40% without needing a more complex 2-stage architecture. This level of innovation highlights the dynamic nature of the automotive turbocharger market. A Booming Aftermarket Responds to a Diverse and Aging Vehicle Fleet The service and aftermarket segment is expanding rapidly with new components and remanufacturing options. In February 2024, BORG Automotive launched an impressive 28 new turbocharger models. These new units in the automotive turbocharger market cover over 1,226 unique vehicle applications across the European continent, including offerings for light commercial vehicles (LCVs). UK-based specialist Melett introduced new products in Q2 2024, including a complete turbocharger for the popular AUDI A4/A5/A6/Q5 2.0L models. Melett also released a bi-turbocharger assembly kit for MAZDA CX5/3/6 2.2D models in the same quarter. Recognizing the importance of supporting components, NRF launched a new range of turbo hoses in 2024, consisting of 282 references for passenger cars and LCVs. Every turbo hose kit from NRF is designated "Easy Fit," meaning it includes at least four hoses and the necessary clamps for a complete installation. Component specialists are also active; Prime Turbo added new models of CHRA (Center Housing Rotating Assembly) and turbo spare parts to its catalog in January 2024. Finally, two new HELLA actuators were added to Melett's range in Q2 2024 for Ford, Alfa Romeo, and Fiat models. Stringent Euro 7 Emission Standards Catalyze Advanced Turbocharger Demand The upcoming Euro 7 regulations are a primary catalyst propelling the automotive turbocharger market toward greater sophistication. The standard will apply to all new cars and vans sold from July 2025. It mandates significant reductions in pollutants. Under Euro 7, NOx emissions for diesel cars will be reduced to 60 mg/km, a substantial drop from the current Euro 6 limit of 80 mg/km. The proposed NOx limit for petrol cars under some of the more robust Euro 7 considerations is as low as 30 mg/km. For the first time, regulations will also target non-exhaust brake particle emissions, with a proposed initial limit of 7mg/km in 2025. A stricter brake particle limit of 3mg/km is being advocated for 2025, a target that available technology can already meet. Durability requirements are also being drastically increased. The compliance longevity requirement for cars under Euro 7 will be up to 10 years or 200,000 km, effectively double that of the previous Euro 6 standard. For buses and lorries, the largest vehicles are expected to meet the minimum standards for an incredible 875,000 km (544,000 miles). Finally, testing protocols will become more demanding, covering a broader range of conditions including cold starts at -10°C and extreme heatwave conditions up to 45°C. The Electrification Wave Reshapes Turbocharging for Hybrid Powertrains Electric and hybrid turbocharging technologies in the automotive turbocharger market are moving from concept to commercial reality, promising to revolutionize engine response and efficiency. Electric turbochargers, which use an electric motor to spin the turbo, provide instant boost and virtually eliminate turbo lag, which can traditionally last from milliseconds to over a second. Garrett Motion is at the forefront, developing a pioneering 3-in-1 E-Powertrain that combines a high-speed electric motor, inverter, and reducer into a single, compact unit. This integrated E-Powertrain is engineered to be up to 40% smaller and lighter than comparable industry systems. In a landmark achievement, IHI Corporation became the first in Japan to commercialize an electrically assisted turbocharger, which is now installed in super sports cars as of 2025. The ultra-high-speed motor in IHI's e-assist turbo, supplied by NHK Spring, achieves a maximum rotational speed several times higher than general automotive drive motors. This motor rotates at high speed the moment the accelerator is pressed, contributing to powerful acceleration without any perceptible lag. BorgWarner's July 2025 announcements of contracts for both a 3.0-liter gasoline hybrid in North America and a 1.0-liter hybrid in Europe signal this trend's mainstream adoption. Strong Financial Maneuvers Signal Confidence and Strategic Market Positioning Key players across the global automotive turbocharger market are demonstrating financial strength and strategic foresight through significant capital activities in 2024. Garrett Motion has been particularly active, repurchasing $65 million of its common stock in the second quarter of 2024 alone. This brought the company's total share repurchases in the first half of 2024 to an impressive $174 million. In a strategic debt restructuring, the company issued $800 million of senior unsecured notes in Q2 2024. This move is expected to generate annual cash interest savings of approximately $15 million for Garrett Motion, freeing up capital for further investment. The company's Q2 2024 report showed a commodity deflation impact that reduced sales by $30 million, yet it still recorded a healthy adjusted free cash flow of $62 million. In Q1 2024, Garrett Motion delivered a strong adjusted EBITDA of $151 million, with capital expenditures coming in at $32 million. These numbers are supported by a global team of approximately 9,000 people in 2024, which includes around 1,400 highly skilled engineers dedicated to advancing the automotive turbocharger market. Regional Manufacturing and Future Regulations Define Global Market Dynamics Global strategy requires local execution. Manufacturing footprints and upcoming regional regulations are critical factors. The draft regulation for China 7 emission standards is anticipated to be published by the end of 2024 or early 2025. These new standards will introduce stricter limits on NOx, PM, and CO compared to the current China 6 standards. Critically, China 7 is expected to mandate the use of gasoline particulate filters (GPFs), creating new opportunities. In response to contract wins, major players are leveraging their global manufacturing bases. BorgWarner will manufacture its new turbochargers for European contracts at its advanced facility in Rzeszów, Poland. For its significant new North American contracts, BorgWarner will utilize its manufacturing facility in Ramos, Mexico. This regionalized production strategy is essential for navigating the complex global automotive turbocharger market. Material Science and Manufacturing Innovations Unlock Next-Level Turbo Performance The future of turbocharging is being built with advanced materials and manufacturing processes. New turbocharger designs for 2025 are increasingly using high-performance materials like ceramics and lightweight alloys to improve durability and heat resistance under extreme operating conditions. Cummins' latest Series 850 turbo features a thin wall stainless steel compressor cover, which significantly reduces component weight compared to traditional cast iron designs. This innovation is especially critical for commercial applications. The company in the automotive turbocharger market is also improving its Series 850 Holset turbocharger in 2024 for high-horsepower, off-highway applications, with an updated design that increases altitude capacity and power density. Specialized applications also drive material choice; turbochargers for natural gas engines require highly heat-resistant materials for their turbine stages to prevent thermal fatigue. Furthermore, additive manufacturing (3D printing), specifically selective laser melting (SLM), is a key trend in 2024 for creating complex turbocharger components with less material waste and optimized geometries. Looking for Country-Level or Section-Wise Data? Customize This Report: Global Automotive Turbocharger Market Major Players: BorgWarner Inc. Bullseye Power Turbo Chargers Continental AG Cummins Inc. Garrett Motion Inc. HKS Co., Ltd Mitsubishi Heavy Industries Engine & Turbocharger IHI Corporation Magnum Performance Turbos Inc. Hitachi Astemo, Ltd. Precision Turbo and Engine Man Energy Solutions MAHLE GMBH Melett Ltd. Other Prominent Players Key Market Segmentation: By Turbo Type Single-Turbo Twin-Turbo Twin-Scroll Turbo Variable Geometry Turbo Variable Twin Scroll Turbo Wastegate Electric Turbo By Vehicle Type Passenger Commercial Sports Car By Propulsion Type Petrol Diesel CNG & LPG By Distribution Channel OEM Aftermarket By Region North America Europe Asia Pacific Middle East & Africa (MEA) South America Understand the Report in Depth – Schedule a Guided Walkthrough: About Astute Analytica Astute Analytica is a global market research and advisory firm providing data-driven insights across industries such as technology, healthcare, chemicals, semiconductors, FMCG, and more. We publish multiple reports daily, equipping businesses with the intelligence they need to navigate market trends, emerging opportunities, competitive landscapes, and technological advancements. With a team of experienced business analysts, economists, and industry experts, we deliver accurate, in-depth, and actionable research tailored to meet the strategic needs of our clients. At Astute Analytica, our clients come first, and we are committed to delivering cost-effective, high-value research solutions that drive success in an evolving marketplace. Contact Us:Astute AnalyticaPhone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)For Sales Enquiries: sales@ us on: LinkedIn | Twitter | YouTube CONTACT: Contact Us: Astute Analytica Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World) For Sales Enquiries: sales@ Website:
Axios
25 minutes ago
- Axios
AI hiring spree pushes San Francisco rents to pre-pandemic levels
San Francisco rents are soaring to pre-pandemic highs amid an AI hiring spree and decades of stalled housing growth that hasn't kept up with demand, ratcheting up competition in the process. The big picture: Unlike past tech booms centered in Silicon Valley, the AI wave is anchoring itself in San Francisco, with tech heavyweights like OpenAI, Anthropic and Scale AI doling out top dollar to recruit elite talent and offering a number of incentives. Many newcomers arrive with big salaries but face few housing options, driving double-digit rent spikes in downtown-adjacent hubs like SoMa, Mission Bay and Hayes Valley, according to a July report from real estate tech company Zumper. What they're saying:"AI has made San Francisco the epicenter of office space, where commercial demand is driving residential demand," Ken DeLeon, a Bay Area-based real estate broker, told Axios. "In this talent war for AI, a lot of the companies are paying people a bit more if they're willing to live closer to the office." By the numbers: San Francisco led the nation in rent growth, with one-bedrooms up 13.3% year-over-year to $3,415 as of early August — the highest since April 2020 and just below the pre-pandemic peak of $3,500. This is 71% higher than the national average. Two-bedrooms increased by 16.3% to $4,780, back to pre-pandemic prices, per Zumper. Return-to-office mandates and Mayor Daniel Lurie's recovery efforts are also spurring renewed demand for living in San Francisco, added DeLeon. Between the lines: This all comes as San Francisco remains roughly 140,000 homes short after decades of not building enough housing, making it hard to keep up with population growth and demand, said Kara Ng, a senior economist at Zillow. Even with flat population growth, today's housing gap would be hard to close at the current construction pace, Ng said. The shortage has fueled sky-high home prices — averaging nearly $6,000 a month in mortgage payments for a typical home with 20% down — making renting a relatively more affordable option, she added. "Because of the unaffordability issues, even high earners are priced out of buying homes in San Francisco, so that leaves a lot of demand for rentals," Ng said. What we're watching: Lurie's proposed zoning ordinance aims to alleviate that strain by building 36,200 new units by 2031, allowing for taller building heights and streamlined permitting rules.
San Francisco Chronicle
25 minutes ago
- San Francisco Chronicle
Neonode: Q2 Earnings Snapshot
STOCKHOLM (AP) — STOCKHOLM (AP) — Neonode Inc. (NEON) on Wednesday reported a loss of $1.9 million in its second quarter. On a per-share basis, the Stockholm-based company said it had a loss of 11 cents. Losses, adjusted to account for discontinued operations, came to 12 cents per share. The developer of touch-based technologies posted revenue of $599,000 in the period. _____
