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…]
The 2024 budget has introduced several changes with significant implications for the automotive ecosystem. Ashish Bhatia looks at the positive aspects and areas that could have been addressed. The automotive ecosystem, encompassing and not limited to vehicle manufacturers, component suppliers, and logistics providers, stands to benefit from several budgetary measures. Taxation and Incentives The budget has streamlined tax structures and[Read More…]
Paint shops must become “greener” to help vehicle manufacturers feel certain about meeting their ambitious climate targets, writes Team ACI. Assessing a technology’s sustainability is a complex task. In a comprehensive life cycle analysis, the Fraunhofer Institute for Building Physics (IBP) studied the carbon footprint of two different paint shop concepts. The result: Dürr’s paint shop with the EcoQPower system,[Read More…]
Of late we are seeing a massive trend in the electrification of vehicles, however, the reports say despite that ICE will continue to dominate the market in the Asia Pacific, including India, write Krishna Gowdaman A (Application Engineering Specialist, India, Automotive Aftermarket Division, 3M) and Suparno Hazra (Application Engineering Manager, South APAC, Automotive Aftermarket Division, 3M) In the report shared[Read More…]
ICRA projects that the capex for EV components could surge. Ashish Bhatia with Riya Yerunkar look at the forces driving the Rs. 25,000 crore surge over the next three to four years. In recent years, India’s automotive industry has undergone significant changes due to government interventions and new compliance regimes. The, heightened consumer awareness, and the ongoing innovations with an[Read More…]
Apollo Tyres has partnered with NATRAX to establish India’s first test track dedicated to validating tyres for Electric Vehicles (EVs) and low rolling resistance tyres. This collaboration aims to provide EV manufacturers with a dedicated facility to test and validate the cut and chip resistance of tyres, crucial due to the unique characteristics of EVs like regenerative braking and high-speed[Read More…]
ZF, a Tier 1 automotive parts supplier, demonstrates its commitment to India’s industrial landscape with a robust manufacturing presence, exemplified by its recent record revenue of Rs. 10,000 crore solely from Indian operations. The company’s strategic focus on the Commercial Vehicle (CV) segment is underscored by the expansion of its Commercial Vehicle Solutions (CVS) Division, marked by the inauguration of[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…]
In November 2023, China exhibited robust economic performance in the tyre industry as it recorded a notable surge in exports. The country exported a substantial 52.35 million tyres during this period, reflecting an impressive year-on-year increase of 28.7 per cent. This growth was indicative of China’s continued strength in the global tyre market. Simultaneously, the value of these tyre exports[Read More…]
The Board of Directors of Jindal Stainless Limited (JSL) had given their consent for the purchase of a 100% stake in Rabirun Vinimay Pvt. Ltd. in December. RVPL was a company under liquidation. This information was disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015. The cost of the acquisition was Rs 96 crore, according to[Read More…]
