Dustin Walsh Dustin Walsh covers auto suppliers and other business news for Crain's Detroit Business, an affiliate of Automotive News. [email protected] 313-446-6042 See All Staff Page Recent Stories Got milk in your fuel tank? You soon might A partnership between Michigan milk producers and a Canadian distillery plans to produce ethanol for use in cars and trucks by 2025. BorgWarner to spin off 2 units, doubling down on EVs Auto supplier BorgWarner will spin off its fuel systems and aftermarket segments into a separate, publicly-traded company. After the spin-off, the legacy company would consist of two units, its electric propulsion and drivetrain division and air management segments. Minority council countersues Piston Group in ongoing legal battle Judge restores Piston Group's minority certification as litigation continues Piston Group, owned by former Detroit Pistons forward Vinnie Johnson, sued the Council in May to restore the certification after months of battling. Piston Group sues to regain minority enterprise status The lawsuit alleges the council and its president, Michelle Sourie Robinson, were "vindictive, willful, wanton or malicious" in their actions to decertify Piston Group as a minority business enterprise. Credit Acceptance CEO Brett Roberts to retire; firm settles lawsuit over lending practices The longtime subprime auto lender reached a $27 million settlement with the Massachusetts attorney general tied to alleged deceptive loan practices. Minority supplier gets support from Michigan manufacturers in certification dispute At the center of the dispute is whether former Detroit Pistons star Vinnie Johnson runs the day-to-day operations of his large supplier, which operates four subsidiaries. Piston Group loses minority certification; future contracts could be at risk The supplier, owned by former NBA star Vinnie Johnson, is appealing the action. The company's major customers utilize its supply contracts as part of their own minority-owned business spending. Foam shortage looms over seating suppliers, auto production Automaker purchasing teams are scrambling after the Texas winter storm that shut refineries and pinched supplies of needed byproducts. "This problem is bigger and closer than the semiconductor issue," one auto executive said. Magna to build $70M EV battery component plant in Mich. Magna said the plant will supply EV battery enclosures to the 2022 GMC Hummer EV. The steel, aluminum and composite enclosures are designed to protect batteries from water and other elements. Visteon Q4 net income falls, revenue rises The supplier said the ongoing microchip shortage could hit global auto production by about 10-15 percent in the first half of 2021 and likely lead to additional plant closures. American Axle reports improved Q4 earnings, lands continued Ram truck business The Detroit supplier swung to a $36 million profit during the fourth quarter as it announced it secured the lucrative next generation axle and driveshaft program for Ram’s heavy-duty trucks. BorgWarner Q4 net income surges 63% following Delphi acquisition For 2020, BorgWarner's sales were flat at $10.165 billion, compared with $10.168 billion in 2019. The positive impact of adding the Delphi acquisition was offset by the financial and operational impact of the COVID-19 pandemic, the company said. Denso names new North American CEO Seiji Maeda, who had led the supplier's motor business unit in Japan, replaced Kenichiro Ito in the role. EV maker Electric Last Mile to move HQ in suburban Detroit The startup, which plans to go public through a reverse merger, said it will build initial battery pack and electric motor prototypes as well as complete preproduction vehicles at the new location. Load More
Dustin Walsh Dustin Walsh covers auto suppliers and other business news for Crain's Detroit Business, an affiliate of Automotive News. [email protected] 313-446-6042 See All Staff Page