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Global Times: US firms showcase strong collaboration with Chinese supply chains at 2nd CISCE

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BEIJING, Nov. 27, 2024 /PRNewswire/ — At the ongoing 2nd China International Supply Chain Expo (CISCE) in Beijing, US companies have a prominent presence, as leading companies such as Apple and Tesla showcased their strong collaboration with Chinese partners and highlighted the importance of China in their supply chains. Experts said the enthusiastic participation of American companies in CISCE underscores the completeness and competitiveness of China’s supply chain as a key attraction.

There are more US companies participating in the expo than from any other foreign countries, according to expo organizer China Council for the Promotion of International Trade (CCPIT), which experts see as demonstrating the depth of supply chain collaboration between American firms and Chinese manufacturers.

At the booth of US technology giant Apple, a Global Times reporter observed that the company has brought four of its Chinese suppliers – Goertek, YUTO, Crystal Optech, and LY iTECH. 

The four suppliers have brought their production facility or models to the expo to display their capacity in automated manufacturing and green production. Their products include packaging, phone cases, batteries and optical components, covering a wide range of accessories for Apple products.

“We are displaying our high level of automation at our plant and efficient plant management capacity,” a staffer with LY iTECH told the Global Times on Wednesday.

An advertising board at Apple’s booth said that “over 80% of Apple’s 200 major suppliers manufacture in China” and “in the past five years, Apple has invested over $20 billion in smart manufacturing and green manufacturing in China.” 

US electric car maker Tesla exhibited various items, including electric drives, batteries and heat pump systems, humanoid robots, alongside the Model 3 and Model Y vehicles manufactured in Tesla Gigafactory in Shanghai.   

Currently, the localization rate of components at Tesla’s Shanghai Gigafactory exceeds 95 percent, with over 400 local first-tier suppliers contracted, more than 60 of which have entered Tesla’s global supply chain system, Tesla told the Global Times in a statement on Wednesday. 

The factory rolls out a complete vehicle approximately every 30 seconds, having delivered 676,000 vehicles in the first three quarters of 2024, accounting for more than half of Tesla’s global deliveries during that period, Tesla said.

Tesla’s efficient and rapid development has been significantly supported by the participation of the Chinese supply chain. At the same time, Tesla’s success in the Chinese market has also driven swift growth of the upstream and downstream industrial supply chains, fostering a win-win collaboration among all parties involved, Tesla said.

US coffee shop chain Starbucks showcased coffee sourced from Southwest China’s Yunnan Province at the expo. Today, Yunnan coffee beans are an integral component of every classic espresso served at over 7,600 Starbucks stores across the Chinese mainland, the company told the Global Times in a statement on Wednesday.

The success of Starbucks in China is bolstered by its dedicated team of 60,000 partners, thousands of Yunnan coffee farmers and a network of strategic suppliers and collaborators. Looking to the future, Starbucks is committed to deepening its engagement in the coffee supply chain, enhancing its sustainable practices, and collaborating closely with the Chinese market to create shared value, Starbucks said. 

US personal computer (PC) maker HP showcased its innovative AI-powered PC and printing products and solutions at this year’s expo.

Jason Juang, managing director of HP Greater China, told the Global Times on Wednesday that HP has always adhered to the development strategy of “in China, for China,” and has continuously introduced advanced technology and management expertise into the Chinese market, providing consumers with continuously iterated high-quality products, boosting the digital upgrading of industrial and supply chains, and actively supporting the construction and development of China’s information technology industry.

Attractiveness of Chinese market 

Overseas exhibitors make up 32 percent of this year’s CISCE, outpacing the share from last year with American companies taking the lead. The number of European and Japanese enterprises also significantly exceeded that of the first edition, according to expo organizer CCPIT.

The enthusiastic participation of American companies in CISCE underscores the completeness and competitiveness of China’s supply chain as a key attraction, Bai Ming, a research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Wednesday.

China boasts a comprehensive industrial and supply chain system in the manufacturing sector, capable of providing high-quality and efficient manufacturing and services, with continuous improvements in supply chain levels offering numerous opportunities for foreign investment,” Bai said.

The Chinese government remains committed to optimizing the business environment for foreign investment and promoting high-quality economic development. The stability and openness of Chinese policies have further enhanced international companies’ confidence and expectations in the Chinese market, Bai added.

“The eagerness of American companies to participate in the supply chain expo indicates that their approach to advancing business is more grounded in commercial principles than in political factors,” Gao Lingyun, an expert at the Chinese Academy of Social Sciences in Beijing, told the Global Times on Wednesday.

US politicians need to pay attention to and respect the evident willingness of American businesses for economic and trade cooperation by tailoring suitable policy environments for enterprises and contributing to the efficiency and prosperity of the global economy, Gao said.

On October 31, the CCPIT released its third quarter report on China’s foreign investment business environment. The report reveals that 90 percent of the surveyed foreign enterprises expressed satisfaction with China’s business environment, rating it as “satisfactory” or higher. Notably, 60 percent of American companies reported an increase in market attractiveness, marking a significant quarter-on-quarter increase of 15.26 percentage points.

 

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SOURCE Global Times

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Investment and Growth Planned for Point of Sale at Truck Stops as PDI Technologies Acquires Comdata Merchant Solutions

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Comdata retains fuel card and payment acceptance business serving commercial fleets

ATLANTA, Dec. 2, 2024 /PRNewswire/ — PDI Technologies, a global leader delivering powerful solutions and insights that serve as the backbone of the convenience retail and petroleum wholesale ecosystem, today announced its acquisition of the Comdata Merchant Solutions business from Comdata’s parent company, Corpay Inc. (NYSE: CPAY). This includes the Point of Sale (POS) hardware, software, and systems that enable transactions at the site level for truck stops and unattended commercial fueling locations. 

PDI currently offers a market-tested POS retail solution internationally, including convenience customer sites in North America as of Q4 2024. Designed for its versatility in both retail fuel and convenience, the all-in-one software platform provides cloud-centric POS, self-checkout, and foodservice capabilities. The addition of the Comdata Merchant Solutions assets and technologies to the existing PDI retail offering expands and strengthens the PDI POS portfolio.

“For years, the Comdata Merchant Solutions team has dedicated themselves to serving the POS needs of the attended and unattended over-the-road trucking industry,” said Sid Gaitonde, President, Enterprise Productivity, PDI Technologies. “We welcome their team and look forward to delivering even greater value to customers and the entire industry ecosystem as we invest in and grow the business here at PDI.” 

Comdata will retain operations of its truck stop payment acceptance network, including the fuel cards issued to trucking companies and the technology that accepts transactions at truck stop retailers, which were not included in the acquisition. As part of the deal, PDI will become an approved provider of Comdata transactions across the PDI POS solutions.

“This is an exciting announcement for the Comdata Merchant Solutions team and the industry, and we wish the team the best as they transition to PDI,” said Randy Morgan, President, Comdata. “We know PDI will support and enhance the POS part of the business, while we remain the card issuer and merchant acceptance provider moving forward.”

“PDI’s integration with Comdata Merchant Solutions will allow us to deliver a more comprehensive and efficient POS solution, ultimately benefiting both convenience retailers and their customers,” said Brad McGuinness, Senior Vice President and General Manager, POS Solutions, PDI Technologies. “We see immense potential in both the exceptional technology and the deeply knowledgeable people at Comdata Merchant Solutions, and we look forward to adding them to our growing portfolio and team.”

Berenson & Company, LLC served as financial advisor to PDI in connection with the transaction.

About PDI Technologies

With 40 years of industry leadership, PDI Technologies, Inc. resides at the intersection of productivity and sales growth, delivering powerful solutions that serve as the backbone of the convenience retail and petroleum wholesale ecosystem. By “Connecting Convenience” across the globe, we empower businesses to increase productivity, make informed decisions, and engage faster with their customers. From large-scale ERP and logistics operations to loyalty programs and cybersecurity, we’re simplifying the industry supply chain for whatever comes next. Today, we serve over 200,000 locations worldwide with solutions like the Fuel Rewards® program and GasBuddy®, two popular brands representing more than 30 million users. Visit the PDI Technologies website.  

For more information, contact: pr@pditechnologies.com  

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SOURCE PDI Technologies

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Advancements Series Scheduled to Air on Saturday, December 7, 2024, at 8:00 pm ET.

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Learn how innovative ideas and groundbreaking technologies are empowering businesses and individuals today.

JUPITER, Fla., Dec. 2, 2024 /PRNewswire/ — Advancements with Ted Danson is scheduled to broadcast on Saturday, December 7, 2024. Tune into Bloomberg Television at 8:00 pm ET to watch.

First, the series will educate about Cook Inlet Region, Inc. (CIRI), one of 12 land-based Alaska Native regional corporations created pursuant to the Alaska Native Claims Settlement Act (ANCSA). While hearing from CIRI – whose regional boundaries roughly follow the traditional Dena’ina territory of Southcentral Alaska – audiences will learn about its mission to promote economic and social well-being amongst its shareholders and their families, and how it focuses on strength and sustainability through the traditional values and practices that have served Alaska Native people for generations.

Next, viewers will discover how innovations in prefabrication technology are transforming the electrical construction industry. With a look at AECInspire, viewers will hear how it’s AI-enhanced tools are helping to democratize access to advanced prefabrication solutions, which lead to reduced labor dependency and cost, and are setting new standards for quality and efficiency across projects.

Find out about the latest tactics and techniques being deployed by sophisticated hackers and ransomware groups today and see how artificial intelligence tools are being used in cyber-attacks as the show explores how frontline security professionals at American Cyber and SonicWall are helping to protect organizations, improve cyber hygiene, and reduce risks online.

The show will also explore how the demand for magnets has created a growing interest in finding sustainable alternatives. Hearing from experts at Niron Magnetics (Niron), audiences will learn about its proprietary Clean Earth Magnet® technology, which was created to enable mass production of high-performance permanent magnets. Possessing inherently higher magnetization that can be produced more sustainably, the segment will highlight how the Clean Earth Magnet materials create high-powered magnets using commonly available iron and nitrogen raw materials that can be sourced globally.

About Advancements:
Advancements is an information-based educational television series that explores recent developments taking place across several industries and economies. With a focus on some of the major innovations responsible for global progress today, the award-winning series goes behind-the-scenes to discover and share how technology and innovation continue to drive the world forward.

Advancements shines a light on several important issues and topics, while featuring an array of cutting-edge improvements, state-of-the-art technologies, and groundbreaking environmental and sustainable solutions. Its team of writers, directors, and producers remain dedicated to consistently producing commercial-free, educational programming for viewers and networks.

For more information, please visit www.AdvancementsTV.com or call 866-496-4065.

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SOURCE Advancements

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Automotive ESP Market to Grow by USD 10.91 Billion (2024-2028), Driven by Digitization and Electrification, with AI Shaping Market Trends – Technavio

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NEW YORK, Dec. 2, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global automotive engineering service providers (ESP) market size is estimated to grow by USD 10.91 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 9.64% during the forecast period. Increasing digitization and electrification of automobiles is driving market growth, with a trend towards development of autonomous vehicles. However, evolving regulatory landscape of automotive industry poses a challenge. Key market players include Adecco Group AG, Altair Engineering Inc., ASM Technologies Ltd., AVL List GmbH, Belcan LLC, Bertrandt AG, Capgemini Service SAS, Contechs Group Holdings Ltd., EDAG Group, EPAM Systems Inc., FEV Group GmbH, HCL Technologies Ltd., Hitachi Ltd., IAV GmbH, KPIT Technologies Ltd., L and T Technology Services Ltd., Magna International Inc., Mahindra and Mahindra Ltd., Onward Technologies Ltd., and Ricardo Plc.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Automotive Engineering Service Providers (ESP) Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.64%

Market growth 2024-2028

USD 10.91 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.27

Regional analysis

Europe, APAC, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 30%

Key countries

US, China, Germany, France, and UK

Key companies profiled

Adecco Group AG, Altair Engineering Inc., ASM Technologies Ltd., AVL List GmbH, Belcan LLC, Bertrandt AG, Capgemini Service SAS, Contechs Group Holdings Ltd., EDAG Group, EPAM Systems Inc., FEV Group GmbH, HCL Technologies Ltd., Hitachi Ltd., IAV GmbH, KPIT Technologies Ltd., L and T Technology Services Ltd., Magna International Inc., Mahindra and Mahindra Ltd., Onward Technologies Ltd., and Ricardo Plc

Market Driver

Autonomous vehicles, a fusion of automotive engineering and technology, are developed by ESPs through intricate engineering solutions. These companies design, fabricate, and assemble mechanical, electrical, and electronic elements, integrating artificial intelligence and safety features. Key technologies include 5G networks, collision avoidance sensors, and connection sensors. ESPs collaborate with OEMs and tech firms to create luxurious, efficient, and safe vehicles, adhering to stringent safety regulations and industry 4.0 standards. LED technology and lightweight body materials enhance vehicle aesthetics and performance. ESPs also focus on vehicle efficiency, electric vehicles, and outsourcing services, catering to emerging nations and commercial vehicle sectors. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

Autonomous vehicles and connected cars bring new regulations, posing uncertainties for Automotive Engineering Service Providers (ESPs). Strict safety regulations, such as data privacy and autonomous driving standards, necessitate substantial investments in understanding, interpreting, and complying. Fear of non-compliance and potential liability may hinder innovation, with ESPs hesitant to develop cutting-edge technologies due to regulatory risks. High barriers to entry, created by stringent safety testing and certification, favor larger, established providers, potentially limiting competition and market dynamism. Key areas of focus include 5G networks, electric vehicles, vehicle efficiency, collision avoidance sensors, connection sensors, lightweight vehicles, fuel efficient vehicles, electric motors, battery management systems, sensor fusion, cybersecurity, data analytics, and vehicle safety.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview

This automotive engineering service providers (esp) market report extensively covers market segmentation by

Application1.1 In-house1.2 Out-sourceProduct Type2.1 Powertrain2.2 Complete vehicle2.3 Electrical/electronics2.4 OthersGeography3.1 Europe3.2 APAC3.3 North America3.4 South America3.5 Middle East and Africa

1.1 In-house- The Automotive Engineering Service Providers (ESP) Market encompasses mechanical and electrical engineering, leveraging lightweight materials and digital vehicles to enhance connectedness and software development. ESPs address cybersecurity and data analytics concerns, ensuring vehicle safety and fuel efficiency through expertise in electric motors and battery management systems. Sensor fusion engineering solutions facilitate designing, developing, fabricating, and assembling mechanical, electrical, electronics, and software elements for automobiles. ESPs cater to stringent safety regulations in the automotive engineering field, delivering improved quality, safe structured vehicles, and convenient driving experiences for models and vehicles, including commercial ones. With the advent of 5G networks, ESPs are poised to revolutionize the industry through engineering solutions for autonomous and electric vehicles. Investment pockets lie in the areas of safety elements, luxury vehicles, and the integration of advanced technologies, such as 5G networks and autonomous driving systems.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Automotive Engineering Service Providers (ESP) market encompasses the design, development, fabrication, and integration of mechanical, electrical, and electronics elements for commercial vehicles. This includes the implementation of 5G networks and advanced technologies such as autonomous and electric vehicles. ESPs focus on enhancing vehicle efficiency through the use of lightweight materials and fuel-efficient components. Collision avoidance sensors and connection sensors are essential mechanical and electrical features that ESPs incorporate into digital and connected vehicles. Software engineering and cybersecurity are critical aspects of ESP services, ensuring data analytics and secure communication between vehicles and infrastructure. The ESP market continues to evolve, offering innovative solutions to meet the demands of the automotive industry.

Market Research Overview

The Automotive Engineering Services Market encompasses a diverse range of offerings, including vehicle design, development, testing, and consulting services. These solutions cater to various sectors, such as body and chassis, powertrain, electronics, and software. ESPs employ cutting-edge technologies like CAD, CAE, and CAM to create efficient, safe, and eco-friendly vehicles. They also focus on regulatory compliance, ensuring that vehicles meet stringent safety and emissions standards. Additionally, ESPs provide services related to vehicle connectivity, autonomous driving, and electric powertrains, reflecting the industry’s ongoing evolution. The market is driven by factors like increasing vehicle production, growing demand for advanced technologies, and stringent regulations.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationIn-houseOut-sourceProduct TypePowertrainComplete VehicleElectrical/electronicsOthersGeographyEuropeAPACNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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