Ashok Leyland, the Indian flagship of the Hinduja Group, today announced that its Board has approved the acquisition of 100% of Ohm Global Mobility Private Ltd (OHM) from OHM International Mobility Ltd for a nominal consideration of Rs 1 lakh. As the company is yet to become operational the consideration was nominal. With this move,… Continue reading Ashok Leyland to invest Rs 300 crore in EV arm OHM, transfer existing e-MaaS contracts
Author: Autocar_Professional India Online News
Amara Raja Batteries report 45.55% jump in net profit in 1QFY24
Amara Raja Batteries, one of India’s leading industrial and automotive battery majors, reported a 45.55% increase in consolidated profit after tax at Rs 192.14 crore in the first quarter ended June 30, 2023. The company had posted a consolidated profit after tax of Rs 132.01 crore in the same quarter last fiscal. Consolidated revenue from operations… Continue reading Amara Raja Batteries report 45.55% jump in net profit in 1QFY24
Maharashtra government keen to clear path for Hyundai’s Rs 5,000 crore investment in GM’s Talegaon plant
The Maharashtra State Government has pledged its full support to Hyundai Motor India’s plans for a Rs 5000 crore investment commitment to the state over the next five years, even as it attempts to resolve the grievances of almost 1000 protesting workers. The Maharashtra government’s two key ministers, Labour Minister Suresh Khade and Industries Minister… Continue reading Maharashtra government keen to clear path for Hyundai’s Rs 5,000 crore investment in GM’s Talegaon plant
Maharashtra Govt looks to iron out the GM Union’s labour issues to seal Hyundai’s Rs 5000 crore investment in the Talegon facility
The Maharashtra State Government has pledged its full support to Hyundai Motor India’s plans for a Rs 5000 crore investment commitment to the state over the next five years, even as it attempts to resolve the grievances of almost 1000 protesting workers. The Maharashtra government’s two key ministers, Labour Minister Suresh Khade and Industries Minister… Continue reading Maharashtra Govt looks to iron out the GM Union’s labour issues to seal Hyundai’s Rs 5000 crore investment in the Talegon facility
Jio-bp adds 1,000+ charging stations in India during FY23, plans multi-fold expansion in FY24
Jio-bp, a joint venture between Reliance Industries and BP, expanded its network to 1,400+ locations across eight cities and important highways in India during the fiscal year 2022-2023. This represents an addition of over 1,000 public charging stations. In its most recent annual report, the corporation stated that it anticipates growing its network multi-fold again… Continue reading Jio-bp adds 1,000+ charging stations in India during FY23, plans multi-fold expansion in FY24
Jio-bp adds 1,000+ charging stations in India during FY23, plans multi-fold expansion in FY24
Jio-bp, a joint venture between Reliance Industries and BP, expanded its network to 1,400+ locations across eight cities and important highways in India during the fiscal year 2022-2023. This represents an addition of over 1,000 public charging stations. In its most recent annual report, the corporation stated that it anticipates growing its network multi-fold again… Continue reading Jio-bp adds 1,000+ charging stations in India during FY23, plans multi-fold expansion in FY24
Timken India’s Jamshedpur plant to shut down for a week as demand slumps
Timken India Limited, a major auto bearing manufacturer, is set to close its Jamshedpur factory for a week from August 25 to September 3 due to poor demand, according to a corporate filing. The news comes just days after the Jamshedpur plant’s TS and roller lines were shut down for scheduled maintenance on July 24-29.… Continue reading Timken India’s Jamshedpur plant to shut down for a week as demand slumps
Bharat Forge lines up capex of Rs 1,000 crore for 2.5 years, defence to hold 10% of revenue by FY24
Bharat Forge, the country’s largest forging company, is eyeing Rs 1,000 crore in capex for its India business in the financial year (FY) 2023-24 until the first half of FY 2025-26 which will be incurred towards core business, electric vehicle components and systems, and defence, a senior company executive said. In the defence business (under… Continue reading Bharat Forge lines up capex of Rs 1,000 crore for 2.5 years, defence to hold 10% of revenue by FY24
TSMC, Bosch, Infineon and NXP plan JV for advanced semiconductor manufacturing in Europe
TSMC (Taiwan Semiconductor Manufacturing Company), Robert Bosch GmbH, Infineon Technologies and NXP Semiconductors have announced a plan to jointly invest in European Semiconductor Manufacturing Company (ESMC) GmbH, in Dresden, Germany to provide advanced semiconductor manufacturing services. ESMC marks a significant step towards construction of a 300mm fab plant to support the future capacity needs of… Continue reading TSMC, Bosch, Infineon and NXP plan JV for advanced semiconductor manufacturing in Europe
MAHLE to premiere bionic battery cooling plate at IAA Mobility 2023
Using nature as a model, MAHLE has reported that it has achieved a technological leap forward with its new battery cooling plate. The group’s engineers have developed a bionic structure – one modelled on nature – for the cooling channels that causes the coolant to flow differently. This significantly improves the thermodynamic performance and structural-mechanical… Continue reading MAHLE to premiere bionic battery cooling plate at IAA Mobility 2023