Idra builds gigapress casting machine for Ford (F) and Hyundai

Idra, a manufacturer of aluminum casting machines in Italy and a supplier to Tesla (NASDAQ: TSLA), has expanded its customer roster to include Ford (NYSE: F), Hyundai, and a European company, reflecting the growing interest among automakers in adopting this manufacturing method.

Tesla has been at the forefront of experimenting with these giant casting machines, commonly referred to as 'gigapresses,' to produce large single piece vehicle underbodies with the aim to enhance production efficiency and reduce the workload of robotic systems.

During an industry event hosted by IDRA in Travalgiato, near Brescia, northern Italy, a 'gigapress 6,100' with the Ford logo was assembled and undergoing testing.

At the same event, an even larger press, the 9,000, which is IDRA's biggest and most recent model and is as large as a small house or a tennis court, was also in the testing phase. However, the client's name was not displayed on this larger machine.

Shares of F are up 0.99% in early trading Wednesday.

By Michael Elkins | [email protected]

You May Also Be Interested In

• Citi raises US light vehicle sales forecast for 2026
• Metropolitan Commercial Bank names Jason Bishop head of CRE lending
• Michael Burry Says He Shorted Caterpillar For The First Time - Bloomberg