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Author: Economic Times of India Online News
Ashok Leyland’s Ganesh Mani assumes additional charge as CEO of Switch India
Mahesh Babu, the current CEO of Switch Automotive Mobility Ltd., to step down from his role to pursue opportunities outside the Hinduja Group, effective August 31, 2025. Ganesh Mani, currently the Chief Operating Officer of Ashok Leyland, will assume additional charge as CEO of Switch Automotive Mobility Limited (Switch India), effective September 1, 2025. This… Continue reading Ashok Leyland’s Ganesh Mani assumes additional charge as CEO of Switch India
Servotech renewable to install EV charging hub at Bengaluru airport
The chargers are expected to contribute to reducing transport-related emissions at the airport and support broader sustainability targets. Servotech Renewable Power System Limited has secured an order from Bengaluru International Airport Limited (BIAL) to install an electric vehicle (EV) charging station at Kempegowda International Airport. The facility will consist of 10 direct current (DC) chargers,… Continue reading Servotech renewable to install EV charging hub at Bengaluru airport
India poised to be global manufacturing hub, says Mahindra Group
India is poised to become a global manufacturing powerhouse, says Mahindra Group CEO Anish Shah, citing strong infrastructure, a young workforce, and supportive policies. India is uniquely positioned to emerge as a global manufacturing powerhouse amid rising geopolitical and economic challenges, according to Anish Shah, CEO and Managing Director of Mahindra & Mahindra Group. In… Continue reading India poised to be global manufacturing hub, says Mahindra Group
Indian CV industry wholesale volumes likely to grow 3–5% in FY26: ICRA
The Indian commercial vehicle industry is projected to see a modest 3–5% year-on-year growth in wholesale volumes in FY26. The Indian commercial vehicle (CV) industry is expected to register a modest 3–5 per cent year-on-year (YoY) growth in wholesale volumes in FY26. It is driven by the resumption of construction and infrastructure activities and a… Continue reading Indian CV industry wholesale volumes likely to grow 3–5% in FY26: ICRA
Sona Comstar plans domestic magnet production to cut China imports
For future growth, Sona Comstar is looking at acquiring more customers in China, Japan and South Korea. Sona Comstar, India’s biggest importer of rare earth magnets, plans to locally manufacture the critical components used in electric vehicles, tapping into a government push to incentivise their production at home as China restricts their exports. China, which… Continue reading Sona Comstar plans domestic magnet production to cut China imports
Nissan seeks to delay supplier payments to free up cash, company emails show
Nissan asks some suppliers to delay payments in a bid to free up short-term funds, as the automaker works to improve its cash position. Nissan Motor has asked some suppliers to allow it to delay payments to free up short-term funds, according to several emails and a company document reviewed by Reuters, as the troubled… Continue reading Nissan seeks to delay supplier payments to free up cash, company emails show
As commissions fall, flat fee reshapes ride-hailing
Ola has introduced a nationwide flat fee model for its cab-hailing business, allowing drivers to retain 100% of their earnings after paying a fixed daily access charge of Rs 67. This move replaces the long-standing commission structure, where platforms deducted 20%-30% per trip, marking a significant shift in India’s ride-hailing economics. Internally, senior Ola executives… Continue reading As commissions fall, flat fee reshapes ride-hailing
Amber Group to Acquire Majority Stake in Power-One Micro Systems
Amber Group signs definitive deals to acquire a majority stake in Bengaluru-based Power-One Micro Systems. Amber Group, a homegrown contract manufacturer for HVAC and consumer electronics, has entered into definitive agreements for acquiring majority stake in Bengaluru-based Power-One Micro Systems-based Power-One Micro Systems. Power-One is a manufacturer of solar inverters, uninterruptible power supplies (UPS), Battery… Continue reading Amber Group to Acquire Majority Stake in Power-One Micro Systems
Indonesia begins $5.9 bn EV battery project despite environment fears
Indonesia breaks ground on $5.9 billion EV battery megaproject backed by China’s CATL, amid concerns from NGOs over environmental safeguards. Indonesia broke ground Sunday on a $5.9 billion megaproject for EV battery production backed by Chinese giant CATL, despite NGOs raising concerns over a lack of environmental guarantees. Indonesia is the world’s largest nickel producer… Continue reading Indonesia begins $5.9 bn EV battery project despite environment fears