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…]
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…]
Mercedes-Benz Research and Development India is planning to hire over 1,000 engineers in India in the upcoming year. The company has expanded its presence in Bengaluru by leasing approximately 418,000 square feet of office space, emphasizing its commitment to India as a valuable market and talent hub for the automotive sector. As per sources, the company will pay a rent[Read More…]
Ansys (NASDAQ: ANSS) and NVIDIA (NASDAQ: NVDA) have announced an expanded collaboration to integrate accelerated computing and generative AI technologies into simulation solutions. This partnership aims to advance various industries, including 6G communication systems, autonomous vehicles, digital twins, and visual rendering. By combining NVIDIA’s advanced GPUs and AI capabilities with Ansys’ simulation tools, design cycles are expected to shorten while[Read More…]
