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Tata Motors Limited’s Board has approved a Composite Scheme of Arrangement among Tata Motors (TML), TML Commercial Vehicles Limited (TMLCV), Tata Motors Passenger Vehicles Limited (TMPV), and their shareholders under the Companies Act, 2013. The Scheme involves demerging TML’s Commercial Vehicle business into TMLCV and merging TMPV’s Passenger Vehicle business into TML. Upon effectiveness, TMLCV and TML will be renamed, resulting in two listed entities: TML (Commercial Vehicles) and TMPV (Passenger Vehicles, Electric Vehicles, JLR).
Rappelling a strong commitment to India, Toyota Kirloskar Motor signed a Memorandum of Understanding (MOU) with the Government of Maharashtra, to examine the setting-up of a Green Field Manufacturing Facility at Chhatrapati Sambhaji Nagar. With its headquarters in Karnataka, TKM already has a top-notch manufacturing facility with two cutting-edge locations in Bidadi. These facilities are well-equipped to support and enhance India’s standing in the global auto industry.
“The automotive industry continues to undergo massive transformation, adopting new technology at a pace never seen before,” says Marques McCammon, President, Karma Automotive.
“Continental Tires has accumulated profound insights into the unique demands of consumers. With the debut of ExtremeContact XC7, it can improve the drivers safer and more comfortable driving experience to the next level. One of the core technologies applied to this new product – ContiSeal Self-Sealing Technology, continuously guards the safety of users and is widely recognized in the world.” said Tolga Mutlu, Head of Product Management, Continental Tires APAC.
The leading location data and technology platform, HERE Technologies, announced that SAP’s AI-enabled Field Service Management solution will now utilise HERE Matrix Routing to power predictive routing functionalities. Consequently, businesses that use SAP Field Service Management to manage service worker job assignments stand to gain increased productivity, lower costs, a more environmentally friendly method of operation, and better customer satisfaction.
Daimler India Commercial Vehicles (DICV), to provide customised financing options for its commercial vehicle clients and dealerships, a wholly-owned subsidiary of Daimler Truck AG has announced a strategic partnership with Bajaj Finance, a division of Bajaj Finserv Group, one of India’s largest financial conglomerates. The goal of this partnership is to make financing options more easily accessible and convenient for all of DICV’s commercial vehicle inventory.
SUPER73, the American lifestyle adventure brand specializing in electric motorbikes, announced its innovative partnership with PedalAce, the premier provider of e-bike safety courses. This collaboration aims to elevate the riding experience by promoting safety, education, and community engagement for eBike enthusiasts across the United States.
AISIN CORPORATION and the BMW Group have agreed on a strategic partnership. The aim of this partnership is a cooperation in the field of build-to-print e-axle production by AISIN based on a BMW Group design.
Wardwizard Innovations & Mobility Limited, one of the leading manufacturers of electric vehicles under the brands ‘Joy e-bike’ and ‘Joy e-rik’, today announced its financial results for Q1 of FY’25 (April-June 2024).
Hinduja Tech Limited has signed a definitive agreement to acquire TECOSIM Group, expanding its presence in European and international markets and solidifying its status as a leading provider of mobility engineering services. This acquisition will enhance Hinduja Tech’s global delivery capabilities and provide a nearshore delivery offering for European customers. TECOSIM, with over 650 employees, brings extensive expertise and innovative solutions, strengthening Hinduja Tech’s market reach and service offerings. The deal is expected to close in the coming months, pending regulatory approvals.