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Schaeffler India acquires fast-growing B2B e-commerce platform Koovers

Koovers is a brand of KRSV Innovative Auto Solutions Private Limited. Schaeffler has acquired 100 per cent of the company’s shares via a share purchase agreement.Read more

Govt extends Automotive PLI Scheme, aims for accelerated implementation

While delivering the keynote address at the review meeting, Mahendra Nath Pandey, Union Heavy Industries Minister urged the industry to provide feedback and engage in collaborative efforts to shape the policies, procedures, and overall effectiveness of the PLI scheme.Read more

Tata Power to work on 4.4 MW RE project with Anand Group

Within the framework of this agreement, TPREL will oversee the generation of a substantial 10 million units of clean energy using renewable sources. Read more

US allocates $15.5 bn to boost electric vehicle transition

The United States Department of Energy is allocating $15.5 billion to facilitate the shift towards electric vehicles (EVs).Read more

Stäubli opens $15 million facility in Bengaluru

Global industrial and mechatronic solution provider, Stäubli strengthens its presence in the country by setting up 25,000 sq ft office in Yelahanka, Bengaluru. The company conducted the ‘Stäubli Partnership Forum India’ event to showcase its innovative solution capabilities to the partners.Read more

Elgi Equipments announces PAT for first quarter, FY24 at Rs 60.5 crore

Consolidated sales for the first quarter was Rs 724 crore as against Rs 694 crore in the corresponding quarter in 2022-23.Read more

Automotive Component Industry achieves $70 bn turnover in FY23 with 33% growth

Automotive Component Manufacturers Association of India (ACMA) released the data revealing reveals that this achievement surpasses the previous record of Rs 4.2 lakh crore turnover in the fiscal year 2021-22.Read more

We see opportunity in SCM efficiency and shall continue to work in this lead

Arrow Electronics is an American company headquartered in Centennial, Colorado. The company specialises in distribution and value added services relating to electronic components and computer products. Bhartendu Mishra, Managing Director – India, Arrow Electronics, in this interview, talks about company’s growth plans and shares the current challenges and opportunities in the Indian market.Read more

Schaeffler India appoints of Aashish Bhatia as President Automotive Technologies

Leading industrial and automotive supplier, Schaeffler India announced the appointment of Aashish Bhatia as President Automotive Technologies (Automotive OE business).Read more

Motherson & Marelli inaugurate the 1st Tool Room for automotive lighting in India

The 8700 sq m facility is located in Noida (Delhi NCR region) in close proximity to OEMs and other tooling locations of Motherson.Read more

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