Author: MM Desk

LOHUM, a company from Greater Noida that recycles and repurposes battery materials, will invest ₹2,000 crore in a new plant in Krishnagiri, Tamil Nadu. This plant will produce Cathode Active Material (CAM) for batteries. The company has bought 65 acres of land and plans to start production in 18 months. In the first two years, they will invest ₹400 crore. This plant will supply battery manufacturers like Ola, Exide, TVS, and Amara Raja. LOHUM has seven plants in Noida, one in Gujarat, one in Krishnagiri, and one in the UAE. The new plant will recycle 20,000 tonnes of batteries yearly…

Mahindra Truck & Bus, part of the Mahindra Group, is working to surpass its peak performance from FY19 by FY27. Jalaj Gupta, Business Head of Commercial Vehicles at Mahindra & Mahindra Ltd., shared their detailed strategy to achieve this goal. The Indian truck market is changing quickly. In FY19, half of the heavy-duty trucks were multi-axle. By 2024, only a third are multi-axle, while 55% are now 48-tonne trucks. This shows how customer needs are evolving. New regulations, like mandatory AC in 2025 and ABS for smaller vehicles, add complexity. Mahindra aims to predict future customer demands to stay ahead.…

In a significant move to promote renewable energy, Vietnam has introduced a groundbreaking policy enabling companies to purchase clean energy directly from producers. This pioneering initiative, aimed at reducing the country’s reliance on fossil fuels, allows businesses to buy electricity directly from solar and wind power generators. The new policy, announced by the Vietnamese government, is a major departure from the traditional model where companies had to rely on the state-controlled grid for their energy needs. By allowing direct purchases, companies can now reduce their carbon footprint and contribute to Vietnam’s goal of increasing its renewable energy mix. The move…

JSW Steel CEO Jayant Acharya announced that the Indian steel industry is discussing trade measures with the federal government to address rising steel imports from China and Vietnam. This comes as India became a net steel importer in the fiscal year ending March, with imports hitting a five-year high in April and May, according to provisional data. “Indian steel industry is in discussion with the government. I think there are measures which we would be requesting the government to take up,” Acharya said, without providing details on the possible measures. India’s steel and trade ministries have been engaged in talks…

FORVIA, a top automotive technology supplier, and Chinese carmaker BYD are expanding their partnership to Europe. They will work together in Hungary, marking BYD’s first presence in the region. This follows their recent opening of a seat assembly plant in Thailand and builds on their partnership that began in 2017. In the past seven years, FORVIA and BYD have opened seven plants in China and developed a research and development center in Shenzhen. BYD aims to join the ranks of automakers producing 10 million vehicles and sees global expansion as a key priority. FORVIA will play a crucial role in…

Nippon Steel, Japan’s largest steel producer, will end its 20-year joint venture with China’s Baoshan Iron & Steel (Baosteel). This marks a significant shift in their long-standing partnership, which began to help modernize China’s steel industry. Nippon Steel’s steel production capacity in China will drop by 70% due to this decision. The company is refocusing its investments on the U.S. and India, as Japanese automakers, its main customers, face challenges in China from local electric vehicle makers. The joint venture, Baosteel-Nippon Steel Automotive Steel Sheets (BNA), was formed in 2004. Nippon Steel will sell its 50% stake in BNA to…

Apollo Tyres has earned the Silver Award from EcoVadis for the third year in a row, improving its score from 56 to 70. This achievement places Apollo Tyres among the top 5% of companies globally in the rubber tyre manufacturing and retreading sector. EcoVadis, the largest provider of business sustainability ratings, evaluates companies based on Environment, Labour and Human Rights, Ethics, and Sustainable Procurement. Companies in the top 1% get platinum, the top 5% get gold, the top 15% get silver, and the top 35% get bronze. Apollo Tyres improved its overall performance score to the 92nd percentile in FY24,…

Schaeffler India, based in Pune, reported a strong performance for Q2 FY25. The company achieved net operating revenue of Rs 2,072 crore for April-June 2024, marking a 13.3% year-on-year increase. Profit before tax (PBT) before exceptional items was Rs 340 crore, up 6.9% from the same period last year. The PBT margin for Q2 stood at 16.4%, compared to 17.4% in the previous year. Net profit for Q2 FY25 was Rs 253.5 crore, with a net profit margin of 12.5%. For the January-June 2024 period, Schaeffler India reported net operating revenue of Rs 3,921 crore, an 11.3% increase year-on-year. PBT…

EnBW announced plans to invest 1 billion euros ($1.09 billion) in Germany’s upcoming national hydrogen transport network. This network, set to start operations by 2032, will carry new and imported hydrogen, a cleaner alternative to fossil fuels. Germany aims to reduce its dependence on oil and natural gas by boosting hydrogen use, which can lower carbon emissions when produced using renewable electricity. Given limited land for wind and solar power, 70% of Germany’s hydrogen will be imported from regions where it’s cheaper to produce. EnBW’s investment is part of a national approval process recently opened by the energy regulator, Bundesnetzagentur.…

Tata Sons has increased Tata Electronics’ authorized equity capital to Rs 10,000 crore, a fivefold rise from the previous amount. The current paid-up capital is Rs 3,961 crore, indicating a potential new investment of over Rs 6,000 crore. In the last financial year, Tata Sons invested Rs 2,140 crore in Tata Electronics, marking the highest annual investment since the company was founded in 2020. Tata Electronics had also secured loans totaling Rs 6,311 crore by March 2024. Tata Electronics is the group’s latest venture in electronics manufacturing services. The company recently acquired Wistron’s iPhone manufacturing facility in Karnataka and announced…