U.S. solar companies weigh challenge to Biden’s pause on tariffs
Some domestic producers say President Biden’s actions would help China’s state-subsidized solar companies at the expense of U.S. manufacturers.
Manufacturing
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2022 Innovation Issue: Indiana auto industry begins pivot to growing EV production
The state’s five automotive assembly plants, and the suppliers who serve them, produce 1.3 million cars and trucks per year, employing just more than 110,000 workers. But the vast majority of that work focuses on gas-powered vehicles.
Stellantis plans $2.5B electric-vehicle battery plant in Kokomo, 1,400 jobs
The companies said the investment could grow to $3.1 billion as Stellantis—formed last year with the merger of Fiat Chrysler and France’s PSA Peugeot—ramps up production of electric vehicles.
Catapult Indiana helps prepare workers for manufacturing jobs
Combining 80 hours of classroom instruction with 80 hours of hands-on training, Catapult addresses entry-level skills that could lead to job opportunities along assembly lines, supply chains and in machine operations.
Lithium sector needs $42 billion as pivot from China adds costs
The forecast comes as Europe and North America look to reduce their dependency on Chinese imports and develop their own lithium production. China has enjoyed a stranglehold over the lithium supply chain.
Indianapolis-based Calumet gets new CEO as part of leadership reshuffling
Todd Borgmann, Calumet’s former CFO, was promoted to CEO effective this week. The move, and several other executive-level changes, were triggered by the May 1 retirement of board chairman Fred Fehsenfeld.
Cummins: Suspending Russian operations cost it $158M in first quarter
Cummins made the disclosure in its first-quarter financial report. Profit dropped in the period, but sales hit a record high. The company also said interest in its emerging hydrogen business is growing.
Family-owned company keeps party going for 101 years
Kuepper Favor Co. in Peru offers party hats, foil tiaras, blowout horns, bouncy balls, plastic hand-clapping toys and more.
Allegion to acquire Stanley Black & Decker business for $900M
Security-products company Allegion, which has about 1,300 employees at its Americas headquarters in Carmel, expects to close the largest deal in its history in the third quarter.
Cummins to spin off filtration business into separate public company
Columbus-based Cummins has confidentially filed paperwork with the Securities and Exchange Commission for an initial public offering for its filtration business. Cummins announced last summer that it was looking at “strategic alternatives” for the business.
Honda outlines $40B strategy to forge ahead on EVs
Efforts in North America will focus on the collaboration with General Motors Co., under which Honda Motor Co. is jointly developing two midsize to large EV models, set for sale in 2024.
U.S. electric-vehicle tax credits ending for new Toyota buyers
The lack of credits is problematic for automakers shifting from petroleum-powered vehicles to batteries in the effort to reduce emissions, meet government fuel-economy standards and fight climate change.
GM, Honda plan to co-develop affordable electric vehicles
The plan is to have an electric vehicle that is priced lower than the upcoming Chevrolet Equinox EV. GM plans to roll out an electric Equinox small SUV next year with a starting price of around $30,000.
Russia war could further escalate auto prices and shortages
The war’s damage to the auto industry has emerged first in Europe. But U.S. production will likely suffer eventually, too, if Russian exports of metals—from palladium for catalytic converters to nickel for electric vehicle batteries—are cut off.
Vertex hopes military contract will bring business to Indianapolis site
Vertex announced this week that it has been awarded a seat on a $46 billion Air Force contract, which gives the company the right to bid on projects that fall under the contract.
Cummins shareholders to vote on splitting CEO, board chair positions
An unnamed Cummins shareholder is proposing that the company separate its CEO and board chair roles, which are both held by Tom Linebarger. Cummins is recommending that shareholders vote against this proposal.
Italian firm opens $30M plastics recycling plant in Anderson
SER North America has hired 25 employees at the plant with the goal of adding 15 more by the end of the year.
EMC2 plans to help manufacturers go high-tech
The new facility in the 16 Tech Innovation District, the Emerging Manufacturing Collaboration Center, is part collaboration space, part learning lab and part development and testing center.
Chip shortage forces GM to pause production at Indiana plant
The plant makes Chevrolet Silverados and GMC Sierra light duty pickups and employs more than 4,000 blue collar workers.
Indianapolis print shop announces mass layoff
Little Raymond’s Print Shop, which opened a facility on the east side of Indianapolis in 2013, said it has terminated 114 employees.