Lumax Auto Technologies Limited appoints Parag Shah as an Independent Director on its board. Founder and Partner of Amara Partners, a mid-market Private Equity fund, Shah brings extensive knowledge and experience in building new businesses, turnarounds, joint ventures, mergers and acquisitions, and IPOs. In a career spanning over 25 years, Shah has been Director of several companies such as Mahindra[Read More…]
Geared up with the new state-of-the-art facility spanning about 2.5 lakh sq feet, Lumax Cornaglia Auto Technologies Private Limited (“LCAT”) is all set to offer market-ready emissions compliance solutions to the Indian Original Equipment Manufacturers (OEMs). Following, the successful 16-year of partnership, the Lumax Cornaglia Auto Technologies Private Limited (“LCAT”), a subsidiary / joint venture Company between Lumax Auto Technologies[Read More…]
National Investment and Infrastructure Fund Limited (NIIF), and iBUS NETWORK AND INFRASTRUCTURE PRIVATE LIMITED (iBUS), a leading digital infrastructure solutions company in India, announced an investment of around USD200 million in iBUS through NIIF’s Master Fund to support the growth of India’s digital infrastructure. The funds raised will be deployed towards scaling iBUS’ operations through organic and inorganic growth initiatives.[Read More…]
Real-Estate Giants Hiranandani and Blackstone Group’s joint venture company, GreenBase, has leased over 3,00,000 sq. ft. of industrial space in Pune to automotive component firm, United Industries. The company, which is a supplier for Korean automobile manufacturers in India, has leased the space in Greenbase Industrial and Logistics Parks, Talegaon. The built-to-suit manufacturing facility is scheduled to be delivered and[Read More…]
Billionaire entrepreneur Tesla Chief Elon Musk is likely to visit India next week to meet Prime Minister Narendra Modi. “Looking forward to meeting with Prime Minister Narendra Modi in India”, Musk posted on X. Musk will meet Modi in the week of April 22 in New Delhi, and will separately announce his investment plans in India. Musk is likely to announce[Read More…]
Even as transition from internal combustion engine (ICE) vehicles to electric vehicles (EVs) presents India with a host of opportunities in the international market. It also poses severe challenges, as 45-84 per cent of the ICE vehicle parts, primarily powertrain components, are likely to become obsolete due to the EV transition. Thus, impacting the auto components manufacturers and the workforce[Read More…]
Mahindra Aerostructures Pvt Ltd (MASPL) and Airbus Atlantic have signed a new contract for the manufacture and delivery of metallic components for all Airbus commercial aircraft models, including the best-selling A320 family. Under the contract, MASPL will supply close to 2300 varieties of metallic components to Airbus Atlantic in France from its manufacturing base in India. The contract adds to[Read More…]
Xiaomi’s EV buyers face 6-month-long waits for deliveries China’s Xiaomi (1810. HK), opens a new tab advising potential buyers of its SU7 electric sedan that they could face waits of four to seven months, in a sign of strong demand for its first-ever vehicle. The maker of smartphones and other consumer electronics began taking orders on Thursday and said pre-orders[Read More…]
To increase women’s participation in the metal and mining sector, Vedanta Aluminium, India’s largest producer of aluminium, has launched #TheFutureOfMetAL. A compelling social media campaign on women in metals and mining. It leverages generative AI and short films to encourage more women to explore rewarding careers in these industries. The campaign comes as a response to industry efforts to increase[Read More…]
GENEVA: Renault (RENA.PA), opens a new tab and China-owned MG launched new electrified cars in Europe at the Geneva car show this week. As Chinese automakers seek to take more market share from legacy European rivals. Europe’s auto industry is scrambling to cut costs and roll out more affordable, well-reviewed electric vehicles (EVs) to counter the arrival[Read More…]
