![]() As with the assumptions for global vehicle production, all assumptions remain subject to a high degree of uncertainty. The company says the market outlook and the Group’s full year guidance for 2023 remain unchanged compared with the expectations published at the 2023 annual press conference. Anticipated improved material availability and the lifting of Covid-19 restrictions in China are fuelling expectations of a considerable year-on-year improvement in global vehicle production in the second quarter of 2023. Although a slight improvement is anticipated, supply bottlenecks may continue to cause lower production volumes. Siemens Mobility Global Siemens Mobility Global home Meet us at UITP Global Public Transport Summit 2023 Under the motto Transform urban mobility for a better tomorrow for UITP Summit, we present our solutions for more sustainable, comfortable, and cost-effective urban rail traffic. Going forward, Vitesco Technologies expects the market environment to be challenging in the second quarter of 2023. Until today, the total order intake from the electrification business adds up to more than 4 billion euro (Rs 35,152 crore). In the first quarter of 2023, Vitesco Technologies’ order intake came to 1.4 billion euro (Rs 12,303 crore) with electrification components accounting for 839 million euro (Rs 7,373 crore). We are confident that our cost discipline and operational optimisations will help us to achieve our targets for the fiscal year.” Werner Volz, CFO, Vitesco Technologies said, “Overall, we can be satisfied with the first quarter of 2023. The Capital expenditures on property, plant, and equipment and software amounted to 98 million euro (Rs 861 crore). The company says given the market-driven build-up of inventories and the ongoing investments related to the order intakes from previous quarters, free cash flow stood at minus 41.1 million euro (Rs 360 crore). JBM to invest Rs 350 crore for setting-up auto component manufacturing plants in Haryana and Gujarat
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