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Jay Bharat Maruti to invest upto Rs 350 crore to set up two plants
AgenciesThe company will also be setting up an assembly facility in the new Gujarat facility for supplying auto assemblies, Jay Bharat Maruti said. Jay Bharat Maruti on Thursday said it will invest in the range of Rs 300 crore to Rs 350 crore in a phased manner to set up two manufacturing plants in Haryana and Gujarat to cater to the requirements of its key customer Maruti Suzuki in both the regions. The plants will be commissioned at Kharkhoda, Sonipat in Haryana and SMG Suppliers’ Park in Gujarat, the company said in a statement. The new plant in Sonipat will provide capacity enhancement so as to meet the requirements of Maruti Suzuki’s new manufacturing plant at IMT Kharkhoda which is expected to be commissioned by FY2025, it added. The company will also be setting up an assembly facility in the new Gujarat facility for supplying auto assemblies, Jay Bharat Maruti said. Jay Bharat Maruti Ltd, a joint venture between JBM Group and Maruti Suzuki India, is the flagshi...
NickEmma
45
June 2, 2024
Sona Comstar inks licensing pact with Equipmake to produce EV components
ETAuto Sona Comstar will exclusively manufacture EV powertrains, sub-systems, and components, based on Equipmake’s patented technology, for the target applications exclusively in India and other select markets. RelatedCompanies that come clean will soon get incentives under FAME-IITesla applies to expand Shanghai plant, add pouch battery cell outputMercedes-AMG is not giving up on the combustion engines: CTO Auto component maker Sona BLW Precision Forgings on Tuesday said it has inked a technology licensing agreement with the UK-based Equipmake for production of electric vehicle components. Equipmake has patented technology which offers high power density and efficiency with high performance, making it ideal for electric cars, buses, and commercial vehicles. Under the agreement, Equipmake will license certain patented spoke motor and inverter technology in the power range of 100kW to 440kW to Sona BLW Precision Forgings (Sona Comstar) to manufacture and sell EV powertrains, sub...
MarcusLouis
43
June 2, 2024
Delphi-TVS Technologies to take up capital expansion at Chennai plant
Delphi-TVS Technologies is a joint venture between diversified conglomerate TVS Group and automotive components giant BorgWarner is set to invest around 455 joint ventures over the next three years In order to carry out its capital expansion plans for its manufacturing plants, Rs. crore. Delphi-TVS Technologies started production of common rail systems in 2009 2000, about 45 from here The Oragadam manufacturing plant achieved the milestone of producing more than 300 kilometers 10,000 common rail systems. "We are continuing to expand the plant's production capacity for common rail systems. We expect to invest about Rs 15 crore per annum for the next two to three years…" A Viswanathan, president of Delphi Technologies, told reporters. The company serves all segments of the diesel engine market, including passenger cars, commercial vehicles, tractors, construction equipment and industrial engines. He said that the proposed investment program will enable the company to...
KittySharp
40
June 2, 2024
Eveready Industries cuts number of direct distributors to 1,000 from 5,000 earlier
Batteries and flashlights maker Eveready Industries India Ltd has cut the number of its direct distributors to 1,000, from 5,000 earlier, as part of a network revamp strategy to drive efficiency, according to company Managing Director Suvamoy Saha. The company, in which the Burmans of Dabur had acquired a majority stake last year and became promoters, is seeking to “surpass the growth percentage achieved in FY23” in the ongoing financial year. “As we continue our journey to scale up our revenues, efforts are underway to make our distribution network more efficient. Our teams have studied the demand pattern and key customer requirements and have effected changes to streamline the route-to-market processes,” Saha told analysts. He further said changes have been affected not only across the organisation but also across its “channel structures wherein we have reduced our direct distributors from an earlier number of 5,000 to a more efficient 1,000”. ...
HenryLeopold
68
June 2, 2024
Samvardhana Motherson arm to buy Cirma SAS for Rs 7.2 million
ETMarkets.com Auto components maker Samvardhana Motherson International Ltd on Thursday said its arm Samvardhana Motherson Automotive Systems Group BV will fully acquire French entity Cirma Entreprise SAS at an enterprise value of 7.2 million euros (nearly ₹65 crore). Samvardhana Motherson Automotive Systems Group BV (SMRPBV) has signed a binding undertaking to acquire a 100% stake in Cirma Entreprise from Vinci Energies France, Samvardhana Motherson International said in a regulatory filing. Cirma Entreprise is into aerospace, shipbuilding and allied industries. The cost of acquisition is pegged at an enterprise value of 7.2 million euros, it added. On the rationale behind the acquisition, the company said Motherson will become a Tier 1 to Aerospace Original Equipment Manufacturer and proximity to OEM would open further avenues for growth. Also, it will help in persification to electrical wiring and interconnect systems for aerospace, shipbuilding and other allied industries from a...
JoKeynes
45
June 2, 2024
Autocomp firm Viney Corp raises Rs 450 crore from Kotak Special Situations Fund
iStockRepresentational image The promoters of Viney Corporation Pvt Ltd, an auto ancillary player in mechanical, mechatronic and electronic technologies for wiring harnesses, connectors and switches, based out of North India, have raised Rs430 crore through non-convertible debentures (NCDs) from Kotak Special Situations Fund to buy out the stake held by private equity firm Synergy Capital, said a source aware of the development. Synergy Capital had acquired a 50.01% stake in the company in 2020. There will be a further round of growth capital infused in Viney Corporation to the tune of Rs20 crore in the form of optionally convertible debentures (OCD), the source added. Founded in 1992, Viney operates through 10 production facilities – eight in India and two overseas – with a combined area of over 500,000 sq. ft. Key customers of the company include BMW, Rolls Royce, GM, Maruti, Hero, Bajaj, Honda, Tata, Yamaha, Renault and Fiat. “With this promoter stake consolidation, V...
JuneCooper
45
June 2, 2024
Schaeffler India ramps up capacity at Savli plant in Gujarat
German industrial and automotive-component supplier Schaeffler on Wednesday announced the inauguration of a new manufacturing unit at its Savli (Vadodara) facility in Gujarat. The new unit will add additional capacities of over 10,000 sq m of production space, to the existing plant, and cater to the growing demand in the wind, heavy industries, and railway sectors, the company said. The expansion of the Savli plant’s production capacity is a vital step towards driving localisation strategy and meeting the growing demands of the market, it stated. The capacity expansion will enable the plant to manufacture spherical roller bearings (SRB) and spherical rollers, while also expanding its heat treatment capabilities, it said. Schaeffler India’s Savli plant currently carries out quality related work, such as heat treatment of raw material, face and outer outside diameter grinding and honing (precision grinding) the inner and outer rings of rolling bearings. The various pro...
MiriamConan
46
June 2, 2024
Adoption of electric vehicles expected to accelerate in coming years: Rane Brake Linings Ltd
AgenciesRepresentative Image Chennai: Rane Brake Linings Ltd, engaged in the manufacturing of auto-components including disc pads and brake linings, has projected a sustained growth momentum in the automotive industry during the current financial year, despite minor headwinds in the form of rising interest rates, the company said. Adoption of electric vehicles is expected to accelerate in the coming years as electric vehicles become more cost competitive backed by supportive government policies, enhanced charging infrastructure, and consumer willingness to move towards clean and sustainable mobility solutions, Rane Brake Linings noted. “The introduction of vehicle scrapping policy for scrapping and replacing old vehicles is likely to aid the growth of the industry.” Rane Brake Linings said in its annual report. On the opportunities and challenges, the company said the automotive industry remains well poised to ride strong growth momentum as the industry focuses on redu...
UriahPartridge
43
June 2, 2024
Tata Group hints at UK battery plant plans as it posts job ads
Tata Group has posted job openings for a UK-based cell developer and construction project manager, suggesting the parent company of Jaguar Land Rover is preparing to locate its new battery factory in Britain. The job advertisements, posted on LinkedIn, are for Tata’s battery-cell operation Agratas, which is building two factories — one in India and one in Europe. The ads didn’t say whether the factory would be in the UK, only that the positions would be based in Coventry, where Jaguar Land Rover currently produces cars. A decision in favor of the UK would secure the future of JLR’s plants in the country, following an intense competition with Spanish authorities. The plant will have an eventual capacity of 40 gigawatt hours. A UK factory would mark a significant win for government and auto industry, which has been struggling to compete with European Union and US incentives for green-technology investments such as battery sites. The UK’s earlier cellmaking hopeful Britishvolt Ltd. this ...
BurgessNehemiah
43
June 2, 2024
Motherson to acquire Bengaluru-based Rollon Hydraulics
ETMarkets.com Auto component maker Samvardhana Motherson International on Friday said it has inked a pact to fully acquire Bengaluru-based Rollon Hydraulics for an undisclosed amount. Rollon is engaged in manufacturing, assembly and supply of high-precision turned parts, spools, and other machined components with critical engineering applications for the agriculture and off- Highway segment from its two facilities based out of Bengaluru. “Our focus on being a solutions provider to our customers has been a driving force for this acquisition. We are getting access to a new industry segment of construction and material handling for our precision metal business,” Motherson Chairman Vivek Chaand Sehgal said in a statement. The company believes this business is highly synergistic with Motherson’s existing business and offers ample opportunities to grow this business in India, Mexico & other geographies, he added. “This is our fifth acquisition in India in t...
LesJulian
38
June 2, 2024
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