Lilly to make $1.8B investment in two Ireland manufacturing facilities
The expansion projects will boost production of medicines for Alzheimer’s disease, diabetes and obesity.
Manufacturing
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Stellantis to spend $406M at 3 factories in step toward meeting UAW commitments
Jeep and Ram maker Stellantis will retool three Michigan factories so they can build electric vehicles or battery parts to support a strategy of making vehicles powered by both gasoline and batteries.
Fishers startup prepares to go public
Four-year-old Novusterra Inc. is planning an initial public offering within 90 days and hopes to be approved to trade on the OTCQB Venture Market, often used by companies that are still developing.
Manufacturing activity contracts for fifth straight month
The Institute for Supply Management’s manufacturing gauge fell to its lowest level since May 2020.
GM delays Indiana EV battery factory, but finalizes joint venture deal with Samsung
The companies finalized their agreement Tuesday to jointly run the new factory in New Carlisle, Indiana, near South Bend, but said production would not start next year as originally planned.
Ford to shift electric vehicle strategy by building lower-cost pickups, commercial van
Electric vehicle sales in the U.S., Ford’s most profitable market, are still growing but have slowed as more practical consumers worry about range and the ability to recharge while traveling.
At Democratic Convention, UAW head threatens strike against Stellantis
President Shawn Fain accused the company of reneging on promises to restart a now-closed assembly plant in Belvidere, Illinois, just over an hour northwest of Chicago.
Buttigieg touts homegrown EV manufacturing, union jobs at Kokomo stop
U.S. Transportation Secretary Pete Buttigieg, a South Bend native, said the nation has entered a “manufacturing renaissance.”
Conexus launching network aimed at hardtech innovators
In a switch from its original focus, the Hardtech Innovators Network will seek to help those who actually do the hands-on design, engineering and innovation work at Indiana companies.
Chipmaker Intel, eyed for billions in U.S. grants, set to fire 15,000 workers
The layoffs are a troubling sign for the Biden administration’s multibillion-dollar plan to rebuild the U.S. chip manufacturing industry.
Regulators stand by decision that 50M air bag inflators are dangerous
The decision Wednesday by the National Highway Traffic Safety Administration could lead to a huge recall despite opposition from automakers.
To cut costs, Stellantis makes buyout offers to U.S. white-collar workers
In a statement Tuesday, Stellantis said it faces inflationary pressures at the same time as it tries to make affordable vehicles for its customers.
Howl & Hide fills special order for U.S. Olympic women’s basketball team
Indianapolis-based leather goods manufacturer Howl & Hide Supply Co. made personalized passport wallets for A’Ja Wilson and her Olympics teammates.
Automakers hit ‘significant storm’ as buyers reject lofty prices at time of huge capital outlays
Each auto company has unique problems, but common to many are growing stockpiles of pricey vehicles on dealer lots, requiring increased discounts to sell them to buyers with stressed-out household budgets.
Stellantis pledges to tackle problems in North America as profit plunges
In the U.S. in June, it took an average of 97 days on dealer lots for Stellantis to sell vehicles, the highest in the industry, according to Edmunds.com.
Vera Bradley unveils brand refresh aimed at ‘reinvigoration’
The Indiana-based company known for its handbags on Thursday said it is “reinvigorating the business and restoring brand relevance” with the help of actress Zooey Deschanel.
Daimler Truck subsidiary to close Plainfield remanufacturing plant
Detroit Diesel Remanufacturing LLC said the closure will affect a total of 80 workers, the first of which are expected to be laid off next month.
Stevanato commits to paying Fishers employees a living wage
Stevanato, an Italian-based life sciences company that makes glass vials and syringes for pharmaceuticals, has committed to paying employees at its new Fishers facility no less than $70,000 annually.
Pato O’Ward wins Indy 200 at Mid-Ohio in debut of hybrid engine
IndyCar expressed encouragement and excitement about the hybrid engine in a statement after the race that cited the collaboration between Chevy and Honda.
Cummins plans to ‘streamline’ operations, cut jobs after 2023 buyouts
A company spokeswoman told IBJ that the new workforce reductions are related to Destination Zero—the company’s previously announced goal of achieving zero emissions by 2050.