Latest news with #DavidSlump
The Independent
3 days ago
- Automotive
- The Independent
MNCs foresee tailwinds for vibrancy
The momentum generated by China's policies aimed at stabilising foreign investment, combined with the rapid growth of green and artificial intelligence-driven economies, will deliver strong tailwinds for foreign companies in China this year, said foreign business executives. With rising global economic headwinds and uncertainty over United States' trade policies, many global enterprises are opting to consolidate their presence in China, with plans to maintain or expand investment. China's stable and business-friendly environment supported a modest rebound in foreign direct investment in March, with actual FDI inflows into the Chinese mainland increasing by 13.2 per cent year-on-year, data from the Ministry of Commerce showed. Marelli Holdings Co Ltd, a Saitama, Japan-headquartered multinational automotive parts manufacturer with more than 50 manufacturing facilities across the world, will expand its engineering team from 800 to 1,000 in China over the next three years. 'Many opportunities arise from Chinese automakers' rapid shift towards electrification and intelligence, especially in the form of software-defined vehicles, which are setting new benchmarks for speed, scale and innovation,' said David Slump, the group's president and CEO. With China and the US agreeing to de-escalate trade tensions in May, Slump said that these two countries are major markets for Marelli. 'We are closely monitoring and assessing the situation, and are committed to minimising any impact on our operations and customers,' said Slump. He added that the company is already exporting advanced products and solutions from China to other markets, including Europe, Mexico and Southeast Asia. Also upbeat about the Chinese market, British pharmaceutical company AstraZeneca announced in March an investment of $2.5 billion (£1.9 billion) to establish in Beijing its sixth global strategic R&D centre, and further expand its biotech innovation partnerships and local manufacturing capabilities. The new facility will advance early-stage research and clinical development and will be enabled by a new AI and data science laboratory. Susan Galbraith, executive vice-president, oncology R&D, AstraZeneca, said that having two of its six global strategic R&D centres in China reflects the group's confidence in China's world-class biomedical innovation ecosystem and reinforces the nation's critical role in its global R&D strategy. Ji Wenhua, a professor at the Academy of China Open Economy Studies, which is part of the University of International Business and Economics in Beijing, said that China's well-developed industrial bases, strong supply chain resilience and policy emphasis on innovation continue to make it an attractive destination for global capital. According to China's 2025 Action Plan for Stabilising Foreign Investment, the country will support pilot regions in effectively implementing opening-up policies related to areas such as value-added telecommunication, biotechnology and wholly foreign-owned hospitals, providing whole-journey services for foreign-invested projects in these sectors. The action plan also supports foreign businesses to participate in China's new industrialisation, with a focus on high-tech fields. Global capital has been welcomed in service sectors such as elderly care, culture and tourism, sports, healthcare, vocational education and finance. As part of its strategy to strengthen operations in China, US express transportation service provider FedEx Corp announced in mid-May that it would enhance its international export services from Shanghai. The cutoff times for same-day outbound shipments from Shanghai to Europe, Asia-Pacific and the Middle East, India and Africa will be further extended. The foreign trade value of foreign-invested businesses reached 4.1 trillion yuan (£423.81 billion) in China between January and April, up 1.9 per cent year-on-year, accounting for 29 per cent of China's total foreign trade value, statistics from the General Administration of Customs showed.
The Star
21-05-2025
- Business
- The Star
MNCs foresee tailwinds for vibrancy
The momentum generated by government policies aimed at stabilising foreign investment, combined with the rapid growth of green and artificial intelligence-driven economies, will deliver strong tailwinds for foreign companies in China this year, said foreign business executives. With rising global economic headwinds and uncertainty over the United States' trade policies, many global enterprises are opting to consolidate their presence in China, with plans to maintain or expand investment. China's stable and business-friendly environment supported a modest rebound in foreign direct investment in March, with actual FDI inflows into the Chinese mainland increasing by 13.2 percent year-on-year, data from the Ministry of Commerce showed. Marelli Holdings Co Ltd, a Saitama, Japan-headquartered multinational automotive parts manufacturer with more than 50 manufacturing facilities across the world, will expand its engineering team from 800 to 1,000 in China over the next three years. "Many opportunities arise from Chinese automakers' rapid shift toward electrification and intelligence, especially in the form of software-defined vehicles, which are setting new benchmarks for speed, scale and innovation," said David Slump, the group's president and CEO. With China and the US agreeing to de-escalate trade tensions last week, Slump said that these two countries are major markets for Marelli. "We are closely monitoring and assessing the situation, and are committed to minimising any impact on our operations and customers," said Slump. He added that the company is already exporting advanced products and solutions from China to other markets, including Europe, Mexico and Southeast Asia. Also upbeat about the Chinese market, British pharmaceutical company AstraZeneca announced in March an investment of $2.5 billion to establish in Beijing its sixth global strategic R&D centre, and further expand its biotech innovation partnerships and local manufacturing capabilities. The new facility will advance early-stage research and clinical development and will be enabled by a new AI and data science laboratory. Susan Galbraith, executive vice-president, oncology R&D, Astra-Zeneca, said that having two of its six global strategic R&D centres in China reflects the group's confidence in China's world-class biomedical innovation ecosystem and reinforces the nation's critical role in its global R&D strategy. Ji Wenhua, a professor at the Academy of China Open Economy Studies, which is part of the University of International Business and Economics in Beijing, said that China's well-developed industrial bases, strong supply chain resilience and policy emphasis on innovation continue to make it an attractive destination for global capital. According to China's 2025 Action Plan for Stabilising Foreign Investment, the country will support pilot regions in effectively implementing opening-up policies related to areas such as value-added telecommunication, biotechnology and wholly foreign-owned hospitals, providing whole-journey services for foreign-invested projects in these sectors. The action plan also supports foreign businesses to participate in China's new industrialisation, with a focus on high-tech fields. Global capital has been welcomed in service sectors such as elderly care, culture and tourism, sports, healthcare, vocational education and finance. As part of its strategy to strengthen operations in China, US express transportation service provider FedEx Corp announced in mid-May that it would enhance its international export services from Shanghai. The cutoff times for same-day outbound shipments from Shanghai to Europe, Asia-Pacific and the Middle East, India and Africa will be further extended. The foreign trade value of foreign-invested businesses reached 4.1 trillion yuan ($567.51 billion) in China between January and April, up 1.9 percent year-on-year, accounting for 29 percent of China's total foreign trade value, statistics from the General Administration of Customs showed. In the meantime, Jiangsu province, a major hub for foreign-invested companies, recorded 864.25 billion yuan in foreign trade value, up 7.2 percent year-on-year, according to Nanjing Customs. - China Daily/ANN
Yahoo
17-04-2025
- Automotive
- Yahoo
Marelli plans to unveil software-defined vehicle tech at Auto Shanghai 2025
Marelli, a technology partner in the automotive sector, is set to showcase its latest advancements in software-defined vehicle (SDV) technologies at Auto Shanghai 2025. At the event, which is scheduled from 23 April to 2 May 2025 at the Shanghai National Exhibition and Convention Center (NECC), Marelli will introduce the ProZone, a mid-range zone control unit designed to manage complex, safety-critical functions. The debut of ProZone at Auto Shanghai marks a significant addition to Marelli's next-generation Zone Control Unit (Zones) portfolio. Zones unify standalone ECUs within a centralised architecture, significantly reducing cost and weight. This approach paves the way for a "truly software-defined system" that supports seamless upgrades over time. ProZone combines innovation with cost-effectiveness, overseeing up to three distinct domains, including body, lighting, power distribution, diagnostics, propulsion, thermal management, ride dynamics, and chassis. Along with LeanZone and EliteZone, ProZone is a said to be key component of Marelli's scalable hardware architecture, designed to meet a wide range of market demands. Marelli president and CEO David Slump said: 'In the shift to Software-Defined Vehicles, Marelli is ready to support carmakers, at any pace they choose to follow. Our flexibility is founded on a customer-centric partnership model, where we listen, adapt, solve, and deliver, with a commitment to grow alongside OEMs as their needs evolve.' The company said it plans to become the largest global supplier of zone control units by 2026. At the event, Marelli will also exhibit an interactive SDV configurator and MyAvatar, an AI-powered vehicle assistant that can be tailored by users. Last year, Marelli introduced new Interior Innovation Center (IIC) in Yoshimi, Saitama Prefecture, Japan. The integrated facility is designed to foster design-led developments for the creation of new vehicle interiors solutions aimed at present and next-generation vehicles. "Marelli plans to unveil software-defined vehicle tech at Auto Shanghai 2025" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
