Latest news with #Radstrom
Time of India
7 hours ago
- Automotive
- Time of India
European truckmakers stockpile to deal with Chinese rare-earths crunch
Gothenburg (Sweden): European truckmaker Volvo Group has been seeking alternative sources of rare earths and Daimler Trucks has been building inventories to deal with supply issues linked to Chinese export curbs, saying lessons had been learned from the chip crisis. The automotive industry currently fears that the supply of rare earths, which are needed for magnets, will be hurt by recent export regulations in China. Since April, exporters have had to apply for new licences, which are only slowly being approved. China dominates the market for the raw materials, which are used in various components from electric motors to window mechanisms in cars and trucks. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Serbia (Prices May Surprise You) Container House Search Now Daimler Truck's CEO Karin Radstrom told reporters on Tuesday on the sidelines of a conference in Gothenburg that, as with the chip crisis during the Covid-19 pandemic, the group was boosting inventory levels rather than relying as heavily on a just-in-time strategy. "With everything that's going on in the world right now, this seems to be a good and necessary strategy," Radstrom said. Live Events She said the situation is currently a major focus for Daimler, which it is closely monitoring. "So far, we seem to be getting what we need," she added, saying there have been no production outages so far. Volvo Group's CTO Lars Stenqvist also noted "a little bit of turmoil" around rare-earth supply, and said in the long term, there had been "a clear move" to be less dependent on the minerals. Stenqvist, who also said the group's output had not been affected, emphasised like Radstrom that there had been many lessons learned from the chip crisis. "We learnt during the semiconductor crisis a few years ago that we maybe have had a history of working too much with the tier 1 suppliers," he said. "We are never hesitating to go down in the value chain, down to tier 2, 3, 4, 5 if necessary." "During that (chip) crisis we learned how to navigate down to the mines, and that is what we also need to do when it comes to rare earth metals and minerals," Stenqvist added.
Yahoo
12 hours ago
- Automotive
- Yahoo
Daimler Truck says rare earth supply concerns have led to more inventory building
GOTHENBURG, Sweden (Reuters) -Obstacles to the supply of key raw materials from China have prompted truckmaker Daimler Truck to increase its inventories in the short term, CEO Karin Radstrom told reporters after a conference in Gothenburg on Tuesday. Radstrom said the chip crisis during the COVID-19 pandemic had already shown that vehicle manufacturing could no longer rely as heavily on just-in-time deliveries. The German truck manufacturer had since increased its inventory levels, for example of semiconductors, even if this tied up more capital, she said. "With everything that's going on in the world right now, this seems to be a good and necessary strategy," Radstrom told reporters. The automotive industry currently fears that the supply of rare earths, which are needed for magnets, will soon dry up due to new export regulations in China. Since April, exporters have had to apply for new export licences, which are only slowly being approved. China dominates the market for the raw materials, which are used in everything from electric motors to window mechanisms. Radstrom said the situation is currently a major issue for Daimler's purchasing department, and the company is closely monitoring the issue. "So far, we seem to be getting what we need," Radstrom added, saying there have been no production outages so far.
Reuters
13 hours ago
- Automotive
- Reuters
Daimler Truck says rare earth supply concerns have led to more inventory building
GOTHENBURG, Sweden, June 17 (Reuters) - Obstacles to the supply of key raw materials from China have prompted truckmaker Daimler Truck ( opens new tab to increase its inventories in the short term, CEO Karin Radstrom told reporters after a conference in Gothenburg on Tuesday. Radstrom said the chip crisis during the COVID-19 pandemic had already shown that vehicle manufacturing could no longer rely as heavily on just-in-time deliveries. The German truck manufacturer had since increased its inventory levels, for example of semiconductors, even if this tied up more capital, she said. "With everything that's going on in the world right now, this seems to be a good and necessary strategy," Radstrom told reporters. The automotive industry currently fears that the supply of rare earths, which are needed for magnets, will soon dry up due to new export regulations in China. Since April, exporters have had to apply for new export licences, which are only slowly being approved. China dominates the market for the raw materials, which are used in everything from electric motors to window mechanisms. Radstrom said the situation is currently a major issue for Daimler's purchasing department, and the company is closely monitoring the issue. "So far, we seem to be getting what we need," Radstrom added, saying there have been no production outages so far.
Yahoo
13 hours ago
- Automotive
- Yahoo
Daimler Truck says rare earth supply concerns have led to more inventory building
GOTHENBURG, Sweden (Reuters) -Obstacles to the supply of key raw materials from China have prompted truckmaker Daimler Truck to increase its inventories in the short term, CEO Karin Radstrom told reporters after a conference in Gothenburg on Tuesday. Radstrom said the chip crisis during the COVID-19 pandemic had already shown that vehicle manufacturing could no longer rely as heavily on just-in-time deliveries. The German truck manufacturer had since increased its inventory levels, for example of semiconductors, even if this tied up more capital, she said. "With everything that's going on in the world right now, this seems to be a good and necessary strategy," Radstrom told reporters. The automotive industry currently fears that the supply of rare earths, which are needed for magnets, will soon dry up due to new export regulations in China. Since April, exporters have had to apply for new export licences, which are only slowly being approved. China dominates the market for the raw materials, which are used in everything from electric motors to window mechanisms. Radstrom said the situation is currently a major issue for Daimler's purchasing department, and the company is closely monitoring the issue. "So far, we seem to be getting what we need," Radstrom added, saying there have been no production outages so far. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
