Author: MM Desk

ASK Automotive Limited has unveiled a significant joint venture agreement with AISIN Group Companies, including AISIN Asia (Thailand) Co. Ltd. (“AA-T”) and AISIN Automotive Haryana Private Limited (“AHL”). The collaboration aims to introduce and distribute auto components in the independent aftermarket for passenger car products throughout India, Nepal, Sri Lanka, and Bangladesh. Combining ASK Automotive’s expansive distribution network with AISIN Group’s high-quality product range, renowned for its excellence in original equipment (OE) auto components, this strategic alliance is expected to notably enhance the availability of premium passenger car products in the independent aftermarket, catering to the growing demand in the region. Kuldip…

Grew Energy Pvt. Ltd., a leading sustainability brand in India, has secured a lion’s share in the Solar Energy Corporation of India’s (SECI) auction by winning a 200 MW contract. The contract awarded to Grew Energy involves the testing, packaging, forwarding, supplying, and transporting of solar PV modules. Vinay Thadani, CEO and Director of Grew Energy expressed confidence in the company’s ability to meet the demands of the contract, stating, “We are equipped with the technology and have the bandwidth to contribute to multiple solar projects across the country.” Known for its domestically manufactured solar cells and modules, Grew Energy stands out as one of the few manufacturers…

Tata Passenger Electric Mobility Ltd. (TPEM), a subsidiary of Tata Motors Ltd., renowned for spearheading India’s electric vehicle (EV) revolution, has inked a non-binding Memorandum of Understanding with Vertelo, an integrated fleet electrification platform managed by Macquarie, to supply 2,000 XPRES-T EVs. This collaboration aims to advance India’s transition to sustainable e-mobility. Deliveries of the vehicles to Vertelo will commence in phases. Mr. Vivek Srivatsa, Chief Commercial Officer of Tata Passenger Electric Mobility Ltd., expressed enthusiasm about the partnership, stating, “As market leaders in passenger EVs in India, we are dedicated to promoting sustainable mobility in the country. We are…

Hitachi Energy India Ltd, a subsidiary of the Swiss-based Hitachi Energy and a prominent entity listed on both Indian stock exchanges, has demonstrated remarkable growth in recent years, surpassing the energy market’s growth rate with a compound annual growth rate (CAGR) of 11 per cent. This achievement is particularly significant as the broader energy market in India has experienced single-digit growth over the same period. N Venu, MD & CEO, India & South Asia, Hitachi Energy, expressed confidence in the company’s future growth trajectory, citing a series of infrastructure projects initiated by the Union government. Reflecting on the market dynamics,…

Dr. Reddy’s Laboratories, a leading pharmaceutical company based in Hyderabad, India, announced on Tuesday that it is voluntarily recalling six lots of medication in the United States due to subpotency issues. The affected medication, Sapropterin Dihydrochloride Powder for Oral Solution 100 mg, is indicated to reduce blood phenylalanine (Phe) levels. The recall was initiated after the company discovered powder discoloration in some packets during an accelerated stability test, which led to decreased potency. Dr. Reddy’s Laboratories emphasized that the issue was also brought to their attention through customer complaints. The decreased potency of the medication poses a risk of elevated…

US-based electric car manufacturer Tesla has decided to halt its partnership with Kolkata-based Ramkrishna Forgings, just days after CEO Elon Musk postponed his highly anticipated visit to India, where he was expected to announce Tesla’s entry into the Indian market. Ramkrishna Forgings disclosed the development in a regulatory filing, stating, “Further to our earlier press release dated April 18, 2024, it is hereby notified that USA’s Largest Electric Passenger Vehicle manufacturer has vide a subsequent communication put on hold its earlier approval in relation to supply of power train components, by Ramkrishna Forgings Limited.” Earlier in the week, Ramkrishna Forgings…

Bajaj Auto Ltd has announced significant leadership changes on Tuesday, appointing Abraham Joseph as the Managing Director of its electric vehicle subsidiary, Chetak Technology Ltd. Alongside, Ramtilak Ananthan has been named as the Chief Technology Officer (CTO) of Bajaj Auto Ltd (BAL). Joseph, a seasoned veteran with over 35 years of experience at Bajaj Auto, will spearhead Chetak Technology Ltd (CTL) towards becoming a high-tech organization, focusing on developing core competencies across cutting-edge automotive technologies. CTL aims to explore the potential of hydrogen vehicles, further enhancing Bajaj Auto’s capacity to deliver technologically advanced products. Joseph, in his role as CTO…

Larsen & Toubro (L&T), a renowned engineering and construction conglomerate, has marked a significant milestone in its global operations by manufacturing a state-of-the-art hydrotreating reactor for the Antonio Dovali Jaime Refinery in Salina Cruz, Mexico. The hydrotreating reactor, equipped with critical Cr-Mo-V metallurgy, has been developed based on cutting-edge technology pioneered by the France-headquartered Axens. Manufactured at L&T’s A M Naik Heavy Engineering Complex in Hazira, Gujarat, the reactor showcases exceptional engineering prowess, having been completed within a record timeframe of 15 months. In a statement released on Tuesday, L&T highlighted the significance of the hydrotreating process facilitated by the…

Stellantis India, the renowned automaker, has announced a marginal price increase across all models under its Citroen and Jeep brands, effective from April 30, 2024. The company cites rising input costs and operational expenses as the primary reasons for this decision. According to the statement released by Stellantis India on Tuesday, the price hike will amount to a modest 0.5 percent across the entire range of Citroen vehicles and selected models from the Jeep brand. This adjustment will lead to an incremental price rise ranging from Rs 4,000 to Rs 17,000 across different models. Explaining the rationale behind the price…

CNH Industrial, a leader in the agriculture and construction equipment sector, has announced the appointment of Gerrit Marx as its new Chief Executive Officer, effective July 1, 2024. Marx will succeed Scott Wine, who expressed his intention to step down from CNH after the current three-year business plan cycle to pursue other interests, a decision accepted by the Board. Marx rejoins CNH from Iveco Group, where he served as CEO, leading the company’s transition into a new era of connectivity by integrating advanced digital and data technologies with Iveco’s product offerings. He also chaired Iveco’s powertrain business, overseeing its evolution…