Category: Cars&Motors

Electric two-wheeler maker Ather Energy’s IPO is set to get off to a strong start with SBI Asset Management Company (AMC) slated to be the chief anchor investor, according to sources in the know. Other prominent domestic investors joining as anchor investors include Birla AMC and Invesco Mutual Fund.

The IPO is scheduled to open to the general public on Monday, but will open to anchor investors on Friday.

Among foreign investors expected to get in at the anchor investor stage are Franklin Offshore, Abu Dhabi Investment Authority, and Morgan Stanley.

According to sources, the company is aiming for a valuationof ₹12,500 crore ($1.47 billion) to ₹12,900 crore ($1.51 billion). There have, however, been reports that the company will seek a valuation of $1.4  billion.(Rs 11,926 crore), citing unnamed company sources.

This mark Ather as the second electric two-wheeler startup to enter the public domain, trailing only Ola Electric, which secured ₹6,146 crore at a $4 billion valuation.

Headquartered in the technology capital of Bengaluru, Ather Energy plans to raise ₹2,980 crore from the primary market. Of this, ₹2,626 crore will arise from the fresh issuance of equity. 

The revised offer is nearly 20% more modest than the earlier projections of ₹3,500–3,700 crore. Funds raised will be channeled toward the establishment of a new electric two-wheeler manufacturing facility in Maharashtra and the repayment of select borrowings—an investment in both infrastructure and fiscal prudence.

Within India’s evolving electric mobility landscape, Ather ranks as the fourth-largest electric two-wheeler manufacturer, following in the tracks of Ola Electric, TVS Motor Company, and Bajaj Auto. 

According to the government’s Vahan vehicle registration data, Ather recorded sales of 15,446 units in March 2025, seizing a 12% market share for the month. For the fiscal year, its share settled at 11.2%, with a total of 130,737 units sold—an appreciable rise from the previous year’s 108,936 units. Ola Electric remains the dominant force, with a commanding 29.5% market share in FY25.

Financially, Ather posted revenues of ₹1,753 crore for FY24, a marginal dip from ₹1,780 crore in FY23. Yet, its net loss deepened to ₹1,059 crore, up from ₹864 crore the year prior, as outlined in its Draft Red Herring Prospectus (DRHP). Hero MotoCorp retains a 37.3% stake on a pre-money basis, and the forthcoming IPO is anticipated to unlock considerable value for the legacy automaker—potentially enhancing its sum-of-the-parts valuation by ₹250–275 per share, based on Ather’s estimated $1.5 billion valuation.

Renowned for its 450X series, Ather Energy had previously raised ₹600 crore from the National Infrastructure Fund in August 2024, which placed the company’s valuation at $1.2 billion (₹11,000 crore). This implied a 6.6x EV/Sales ratio, a figure not uncommon among high-growth startups yet to attain profitability. For comparison, Ola Electric’s IPO was floated at a 7.1x multiple. Market observers now suggest that Ather may justifiably command a richer valuation, owing to its asset-light model and unwavering focus on cost rationalization.

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Rosmerta Group announced today its entry into the direct-to-consumer automotive service market with the launch of MyRaasta COCO Garage in Gurgaon. The 11,000-square-foot facility marks the company’s expansion beyond mobile servicing into physical garage operations, offering comprehensive maintenance solutions for Indian car owners.

The new garage combines Rosmerta’s existing doorstep services with in-facility repairs, providing vehicle owners with multiple service options. Customers can access doorstep maintenance for both two-wheelers and four-wheelers, while more complex repairs can be handled at the physical garage, which offers advanced diagnostics, air conditioning service, denting, painting, and periodic maintenance.

“At Rosmerta, we recognize the evolving needs of vehicle owners for both convenience and comprehensive care,” said Hariansh Nagpal, President of Rosmerta Group. “MyRaasta Garage is a testament to our vision of delivering innovative, customer-centric automotive solutions.”

The service integrates with the MyRaasta mobile application, which allows customers to book services, receive updates, and maintain service records. The app also includes an AI tool that enables users to upload vehicle images for preliminary diagnosis of potential issues.

This launch represents a key component of Rosmerta’s expansion strategy in the automotive aftermarket sector. The company currently maintains a network of over 300 verified partner workshops across India and plans to replicate the Gurgaon model in other metropolitan areas.

Established as a major player in mobility solutions, Rosmerta Group holds a 50% market share in India’s High-Security Registration Plate industry and ranks as the second-largest HSRP manufacturer globally. The company has diversified into various transportation technologies, including Intelligent Transport Management Systems, Automated Testing Stations, Vehicle Scrapping Facilities, and Smart Card-based solutions for registration certificates and driving licenses.

The automotive service market in India has seen significant growth in recent years, with increasing vehicle ownership driving demand for both convenient and comprehensive maintenance options. Rosmerta’s hybrid approach aims to address these evolving consumer preferences while establishing the company’s presence in the direct-to-consumer segment.

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Renault India inaugurated a new design center in Chennai on Tuesday, marking the beginning of its ‘renault.rethink’ transformation strategy for the Indian market. The facility, spanning 1,500 square meters, is the company’s largest design center outside France.

The center will focus on developing models tailored to Indian consumers while contributing to Renault’s global projects. Equipped with advanced technologies including virtual reality setups and a high-performance LED wall, the facility aims to combine European design elements with Indian cultural influences.

“Having a dedicated design studio is essential to understanding India’s nuances, listening to its needs, and building from its strengths,” said Laurens van den Acker, Chief Design Officer at Renault Group. “By leveraging local talents and insights, this center will play a key role in shaping Renault’s future mobility solutions.”

The initiative follows Renault’s recent announcement regarding its planned 100% takeover of the alliance’s manufacturing plant RNAIPL and the transformation of its dealership network to align with the company’s new global brand identity.

Venkatram Mamillapalle, Country CEO and Managing Director of Renault India Operations, stated that the ‘renault.rethink’ strategy represents a new era for the company in India. “We are proud to be the most Indian of European carmakers, boasting the largest R&D center, manufacturing unit, highly localized supply chain, and now one of the largest design centers,” he said.

The company also unveiled a conceptual sculpture called ‘renault.rethink’ at the inauguration, which showcases the future design language Renault plans to follow in India.

Renault has maintained a presence in India since 2005, initially operating from Mumbai. The company currently has nearly 10,000 engineers at its R&D center in Chennai who support both local projects and global initiatives.

The expansion in India comes after Renault Group reported strong financial performance in 2024, achieving an operating profit of €4.3 billion, representing 7.6% of its revenue of €56.2 billion—a 7.4% increase from the previous year.

Renault India currently operates with approximately 350 sales touchpoints and 450 service locations across the country, including 210 mobile workshop units. The company claims to have achieved up to 90% localization in its manufacturing process, underscoring its commitment to production in India.

The automotive market in India, now the world’s third-largest, represents a significant opportunity for international manufacturers looking to expand beyond traditional markets. Renault’s increased investment comes as several global automakers have been adjusting their strategies to better compete in the price-sensitive but rapidly growing Indian market.

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Jindal Stainless and AB Energia Solutions have completed installation of Odisha’s largest captive industrial solar energy plant at Jindal’s manufacturing facility in Jajpur. The 30 MWp capacity installation combines a 7.324 MWp floating solar system on an internal reservoir with a 23.02 MWp rooftop installation spread across ten industrial buildings.

The facility is expected to generate 44.3 million units of electricity annually, equivalent to powering approximately 12,000-15,000 households, according to company officials. This renewable energy generation will reduce the plant’s reliance on conventional grid electricity while cutting CO₂ emissions by an estimated 32,208 metric tonnes per year.

“We’re accelerating our progress towards achieving our Net Zero goals and investing in sustainable infrastructure through strategic partnerships,” said Abhyuday Jindal, Managing Director of Jindal Stainless. “The commissioning of Odisha’s largest captive solar energy plant at our Jajpur facility is a major leap in this journey.”

The project represents a significant advancement in industrial renewable energy integration by utilizing previously unused water surfaces for the floating component, which also helps reduce water evaporation from the reservoir.

Siddharth Bhatia, Managing Director of AB Energia Solutions, noted that such initiatives position Indian industry “at the forefront of sustainable manufacturing, ensuring resilience and relevance in a rapidly evolving market landscape” as global demand for low-carbon steel products increases.

The solar installation is part of Jindal Stainless’ broader sustainability strategy, which includes a commitment to invest ₹700 crore in decarbonization projects over the next five years and achieve net-zero emissions by 2050.

Jindal Stainless, India’s leading stainless steel manufacturer, reported a consolidated annual turnover of ₹38,562 crore (USD 4.7 billion) in FY24. The company is currently expanding its facilities to reach 4.2 million tonnes of annual melt capacity by FY27. Jindal operates 16 manufacturing and processing facilities globally, including locations in Spain and Indonesia.

The company has positioned its manufacturing process as environmentally responsible, utilizing electric arc furnace technology that reduces greenhouse gas emissions compared to traditional steelmaking methods and allows for the recycling of scrap metal.

AB Energia specializes in renewable energy solutions with operations in India and the Gulf Cooperation Council region. The company provides engineering, procurement, and construction services for various solar installations, including the floating and rooftop systems implemented at Jindal’s Jajpur facility.

This project aligns with India’s national renewable energy goals, which target 500 GW of renewable energy capacity by 2030, as the country works to reduce dependence on fossil fuels and meet international climate commitments.

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The Indian construction equipment (CE) industry has expressed deep concern over the proposed imposition of a 12% safeguard duty on steel imports, cautioning that such a move could severely impact the sector’s operations and hamper infrastructure development across the country. The industry’s concerns were voiced the Indian Construction Equipment Manufacturers Association (ICEMA), in a detailed statement issued today.

The Indian CE industry, currently valued at around USD 9.5 billion, is the third-largest globally—behind only the United States and China. The sector plays a critical role in supporting India’s infrastructure development through the supply of advanced and high-performance machinery used in road construction, railways, urban development, and more, ICEMA said.

Steel is a vital input for the industry, particularly high-strength and high-tensile grades as well as specialized pipes and tubes. Many of these materials are not manufactured domestically and are therefore imported to meet production requirements. ICEMA pointed out that restricting these imports could severely impact construction equipment manufacturing, especially where local production does not meet the necessary technical specifications or volume needs.

The industry notes, as said by ICEMA, that even the ongoing inquiry into the safeguard duty by the Directorate General of Trade Remedies (DGTR) has already caused disruptions in the market. Steel prices have reportedly surged by nearly INR 10,000 per tonne since the beginning of the discussion, adding to the input cost burden for CE manufacturers.

If implemented, the safeguard duty could further raise prices, potentially forcing manufacturers to pass on the additional costs to consumers. This comes on top of the cost pressures resulting from the introduction of the CEV Stage V emission norms, which took effect on January 1, 2025. ICEMA has stated that a cumulative increase in costs could impact manufacturing timelines, equipment deliveries, and ultimately, infrastructure project execution.

The industry also warned of possible long-term consequences for India’s export competitiveness. As global markets adopt “China plus One” strategies to diversify supply chains, Indian manufacturers have a strategic opportunity to expand internationally. However, escalating input costs may erode that competitive edge.

ICEMA urged the government to undertake a thorough and transparent assessment of the safeguard duty’s necessity and implications. The industry emphasizes the importance of a balanced policy approach that supports domestic steel production while ensuring the continued growth and global competitiveness of downstream sectors like construction equipment manufacturing.

The association has called for broader consultations with key stakeholders to ensure that any policy intervention supports sustainable industrial growth and does not hinder India’s infrastructure momentum.

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Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has signed a Power Purchase Agreement (PPA) with Tata Motors Limited to co-develop a 131 MW wind-solar hybrid renewable energy project. This initiative is set to provide clean electricity exclusively to six Tata Motors manufacturing facilities across Maharashtra and Gujarat.

Expected to generate nearly 300 million units of green energy per year, the project is also projected to offset over 2 lakh tons of carbon dioxide emissions annually. The move supports Tata Motors’ progress toward achieving its RE-100 target and contributes to the company’s broader environmental goal of net-zero emissions.

With this development, TPREL’s total group captive capacity will exceed 1.5 GW. The company uses a hybrid model that combines wind, solar, floating solar, and battery storage technologies, offering consistent renewable energy supply with a focus on cost efficiency.

TPREL continues to expand its presence in the commercial and industrial sectors, supporting energy transitions across industries such as steel, automotive, hospitality, and retail. It has previously partnered with Tata Group entities including Tata Steel, Tata Communications, and Indian Hotels Company Limited (IHCL) for similar renewable energy projects.

Currently, TPREL operates approximately 478 MW of renewable energy under its group captive portfolio. An additional 1.1 GW of capacity is under various stages of development and expected to be commissioned over the next two years.

Tata Power is an integrated power utility and part of the Tata Group. Its energy portfolio of 15.7 GW spans renewable and conventional generation, transmission, distribution, and solar manufacturing. With 6.8 GW in renewable generation, the company has a 44% clean energy share. It also offers services such as rooftop solar, EV charging, microgrids, and energy storage, serving around 12.5 million customers across India.

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Mahindra Logistics Limited announced its consolidated financial results for the year ended March 31, 2025, reporting a net loss of ₹30 crore, narrowing from a loss of ₹53.09 crore in the previous fiscal. The company saw an uptick in its operating revenues, which rose to ₹6,104.83 crore from ₹5,505.97 crore in FY24, marking a year-on-year growth of nearly 11%.

For the March quarter, revenue from operations stood at ₹1,569.51 crore, slightly lower than ₹1,594.20 crore reported in the December quarter but higher than ₹1,450.76 crore recorded in Q4 of FY24. However, the company posted a loss after tax of ₹5.29 crore in the quarter, compared to a loss of ₹11.91 crore in the same quarter last year.

Operating expenses for the full year rose to ₹5,260.89 crore, up from ₹4,687.59 crore in FY24. Employee benefit expenses remained nearly stable at ₹403.60 crore compared to ₹404.70 crore a year ago. Finance costs increased to ₹81.21 crore from ₹68.16 crore, while depreciation and amortisation rose to ₹226.32 crore from ₹208.99 crore.

The basic and diluted earnings per share (EPS) for FY25 stood at ₹(4.97), improving from ₹(7.60) in FY24.

Despite reporting another year of losses, Mahindra Logistics showed signs of stabilization with reduced losses and improved revenue. The company’s management is expected to focus on cost optimization and margin improvement to return to profitability in the coming fiscal.

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According to CRISIL Ratings, domestic tractor sales in India are expected to reach approximately 9.75 lakh units in fiscal 2026, representing a 3-5% increase over the previous year. The projected growth is attributed to a combination of factors, including the likelihood of an above-normal monsoon, a possible increase in minimum support prices (MSPs) for key crops, and steady demand from the replacement and construction segments.

Sales are expected to surpass the previous high of 9.45 lakh units recorded in fiscal 2023, following a 7% increase observed in fiscal 2025. CRISIL’s analysis suggests that pre-buying activity in the final quarter of fiscal 2026—prior to the implementation of the new TREM V emission norms from April 1, 2026—may also contribute to the rise in volumes.

Stable input costs and rising volumes are expected to keep operating margins for manufacturers between 13.0-13.5%, similar to recent fiscal years. With low debt levels, strong liquidity, and healthy cash flows, major manufacturers are positioned to continue investing in production capacity and emission technology upgrades.

CRISIL’s review of five key original equipment manufacturers (OEMs), collectively accounting for over 90% of the market, indicates that agriculture continues to contribute 70-75% of tractor demand, with the remainder coming from construction-related activities.

Anuj Sethi, Senior Director at CRISIL Ratings, said that forecasts of a favourable monsoon and higher MSPs, along with infrastructure activity supported by government spending, could reinforce demand. Additionally, anticipated price increases due to TREM V norms might lead to advance purchases.

TREM V regulations are expected to increase prices by 10-20%, depending on engine capacity. During the earlier rollout of TREM IV norms, a similar trend was observed, where buyers shifted from above-50 HP tractors to the 41-50 HP category, which currently accounts for 64% of the market.

Poonam Upadhyay, Director at CRISIL Ratings, added that tractor makers are entering fiscal 2026 with stable financials and near-optimal capacity utilisation levels of 75-80%. A capital expenditure cycle of around Rs 4,000 crore is expected, although the capex-to-Ebitda ratio is likely to remain below 0.25 times.

Key areas for observation over the medium term include the distribution and timing of monsoons, their impact on rural incomes and agriculture, movements in commodity prices and interest rates, and the rollout of new emission regulations.

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Goodyear India Limited announced today that its ultimate parent company, The Goodyear Tire & Rubber Co., USA, intends to conduct a strategic review of the company’s farm tire business operations in India.

The announcement came after a brief board meeting held on April 21, 2025, where directors noted the communication from the parent company regarding their plans to evaluate all strategic, operational, and financial opportunities related to the farm tire business segment.

In a regulatory filing to the BSE, Goodyear India clarified that the potential outcome of the strategic review remains unknown, and there is no assurance that the review will result in any transaction implementation. The company has committed to making necessary announcements and disclosures in accordance with SEBI regulations and other applicable laws when required.

The Board of Directors meeting, which addressed this matter, lasted only 15 minutes, starting at 11:40 AM and concluding at 11:55 AM.

Goodyear India operates as a subsidiary of the global tire manufacturer Goodyear Tire & Rubber Company. The farm tire division produces specialized tires for agricultural machinery and equipment, serving the agricultural sector across India. The company is listed on the Bombay Stock Exchange with the scrip code 500168.

The farm tire market in India has faced challenges in recent years, including fluctuating raw material costs, competition from both domestic and international players, and changing agricultural practices. Industry analysts note that several global tire manufacturers have been reassessing their specialized divisions to optimize operations and focus on core growth areas.

Goodyear India’s corporate office is located in Gurgaon, Haryana, while its registered office is in Faridabad. The company has been operating in India for several decades, providing tires for various vehicle segments including passenger cars, commercial vehicles, and agricultural equipment.

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The Venue N Line has always been positioned as the performance-inspired version of Hyundai’s popular sub compact SUV. For the next-gen model, Hyundai seems to be sticking to that formula with some noticeable updates. Though the test mule was heavily camouflaged, tell-tale signs like red accents on the side moulding and roof rails suggest a more aggressive styling package.

Also Read : Second gen Hyundai Venue spotted in South Korea. Here’s what to expect

Expect a redesigned front grille and new alloy wheels, this time wearing the N badge instead of the Hyundai logo. The rear is also expected to get red trim on the bumper, in addition to the usual dual-exhaust setup that has been inherited from the existing model.

Inside, the N Line will probably persist with red highlights and contrast stitching to further portray its sporty image. Hyundai will also likely fine-tune mechanical bits like suspension and brakes to provide a more taut driving experience.

Second gen Hyundai Venue N Line: Expected features

The next-generation Venue is likely to bring a bunch of feature updates, most of which will be made available on the N Line too. Among the expected updates is possibly the addition of Level-2 ADAS, an improvement over the present camera-based Level-1 system. Spy photos have already displayed a test vehicle with a front radar module, suggesting features such as blind spot avoidance, lane-keeping assist, and adaptive cruise control.

Also Read : Hyundai announces benefits up to ₹70,000 on the i20, Venue, Exter and Grand i10 NIOS

Other new additions may include ventilated seats and bigger infotainment screens, perhaps taken from newer variants such as the Creta and Alcazar.

Second gen Hyundai Venue N Line: Specs

The powertrain of the new Venue N Line is also likely to remain the same. It will be powered by the 1.0-litre turbo-petrol engine, which produces 120 PS and 172 Nm, coupled with a 6-speed manual or a 7-speed DCT transmission.

Check out Upcoming Cars in India 2024, Best SUVs in India.

First Published Date: 21 Apr 2025, 10:55 AM IST

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Mercedes-Benz India has expanded its service network in southern India with the inauguration of three new state-of-the-art facilities—one in Bengaluru and two in Hyderabad. This move is part of the company’s strategy to strengthen its presence in key metropolitan markets and enhance customer service delivery.

In Bengaluru, the new 2S (Service and Spares) facility by Sundaram Motors is located on the International Airport Road. Designed according to Mercedes-Benz’s global retail standards, the facility covers 47,000 square feet, with a built-up area of 23,000 square feet. It features ten service bays with the capacity to handle more than 4,000 vehicles annually. The workshop incorporates the ‘Aero Hub’ and ‘Pit Stop’ concepts, a digital interface system, private consulting rooms, a dedicated vehicle handover area, and a café. It also houses a 60 kW fast charging station accessible to all EV users. Quick Body Repair Zones have been set up to complete select services within three hours.

In Hyderabad, Mahavir Motors has opened a 2S facility in a high-net-worth residential area near the city’s growing IT corridor. Spanning 39,000 square feet, this workshop includes 19 service bays and can service over 480 vehicles per month. The facility blends physical and digital elements in its customer experience design and includes consulting areas, a vehicle handover zone, and sustainable architectural features.

The second Hyderabad facility, developed by Landmark Cars, covers 12,000 square feet and operates with six service bays. It offers specialized vehicle servicing and body paint work and is equipped with private discussion rooms and Premier Express service bays for quicker turnaround.

Mercedes-Benz now operates in over 50 cities across India with more than 125 customer touchpoints. The latest expansion is part of the company’s ‘Go to Customer’ strategy, aimed at bringing services closer to customers in both established and emerging markets.

Each facility includes areas specifically designed for customer interaction, including warm-toned consulting spaces with media screens, private rooms for confidential discussions, boutique accessory shops, and enclosed vehicle handover areas equipped with display screens for product briefings. The company stated that these new service centres are intended to meet its high standards of after-sales support while offering a more convenient and personalized experience to its customers.

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Horse, the engine-making joint venture of Geely and the Renault Group, has revealed a hybrid powertrain designed to be retrofitted into electric cars.

It contains the internal combustion engine, electric motor, gearbox and related electronics in a single unit that, Horse said, can be squeezed into the same space as an EV’s main drive motor.

This means manufacturers could retrofit an electric car with the unit without needing to comprehensively re-engineer the car or having to set up a new production line.

The powertrain can be fuelled using petrol, E85 ethanol-petrol mix, pure methanol and synthetic fuels, Horse said.

It can operate both as a traditional parallel hybrid (driving the wheels) and as a range-extender (generating electricity for a drive motor).

It bolts directly into a car’s subframe. Although it has been conceived to replace the front motor in an EV, it can also be used in ICE car platforms.

The compact, modular powertrain for passenger vehicles is assembled as a single unit, including engine, electric motor, and transmission. It supports a range of fuel categories, including petrol, biofuels, and synthetic fuels.

The new Horse unit comes as several manufacturers slow their transition to all-electric line-ups.

Notably, Fiat is currently developing a new version of the 5a00e retrofitted with a hybrid powertrain to replace the old petrol 500 and to buoy its business amid slow sales of the EV.

“For over a decade, it looked like battery-electric vehicles were the only path to net-zero and OEMs planned accordingly,” said Horse Powertrain CEO Matias Giannini.

“However, we’re now shifting towards a technology-neutral world, with different markets and applications each pursuing their own sustainable mobility journey.”

Giannini added that the company’s new hybrid unit “allows OEMs to offer powertrain diversity with minimal disruption to production process and resource expenditure”.

Horse Powertrain consists of two divisions, Aurobay Technologies and Horse Technologies. It is a world leader in hybrid and combustion powertrain solutions. Headquartered in London, UK, the company employs 19,000 people globally across 17 plants and five R&D centres. Horse Powertrain’s three shareholders are Renault Group (45%), Geely (45%), and Aramco (10%).

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Isuzu India Exports

Isuzu produces the D-Max pickup range in India for commercial as well as personal use applications. A major chunk of the Japanese automaker’s business involves commercial vehicle sales, followed by the V-Cross lifestyle pickup truck. The automaker also exports the locally built D-Max pickup to both left-hand drive and right-hand drive markets from its manufacturing facility in Sri City, Andhra Pradesh. Some of the markets where Isuzu India exports include the Middle East, Nepal, Bhutan, Bangladesh, Saudi Arabia, Bahrain, Qatar, Kuwait, Oman and Jordan.

Also Read : Isuzu Motors India hits 1 lakh units production milestone at Andhra Pradesh plant

Speaking on the milestone, Rajesh Mittal, President & Managing Director, Isuzu Motors India, said, “This milestone reinforces the strength of Isuzu’s global manufacturing philosophy—Isuzu Monozukuri. Every vehicle we produce in India is built to the same global standards that define the Isuzu brand worldwide. Our Sri City facility is powered by a talented and dedicated workforce. These ‘Made-in-India’ vehicles are a true reflection of our robust manufacturing processes, proven product DNA and our unwavering commitment to serving both domestic and international markets with pride and consistency.”

Speaking on the same, Toru Kishimoto, Deputy Managing Director, Isuzu Motors India, said, “We are proud to see continued and growing demand for India-made ISUZU vehicles in key global markets. This strong export performance is a testament to the world-class quality, reliability, and performance of our vehicles, made in India. Over the years, our export volumes have steadily grown, supported by a diverse portfolio that meets international expectations. This accomplishment underscores the growing appreciation of Indian manufacturing on the global stage.”

Furthermore, Isuzu says it is working on expanding its domestic presence in India, in addition to its export operations. The company recently rolled out its 100,000th vehicle from the Sri City plant, a testament to its strong production volumes in the country.

Notably, Isuzu produces the previous generation D-Max range in India even as it has launched the new generation version in several markets overseas. The company recently showcased the D-Max electric pickup concept at the Bharat Mobility Global Expo 2025, with the model set to go on sale in international markets later this year. It’s unclear when the brand plans to bring the new generation V-Cross to India.

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First Published Date: 18 Apr 2025, 22:32 PM IST

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Setco Automotive Limited has announced the resignation of Kuldeep Singh from his role as Chief Financial Officer (CFO) and Key Managerial Personnel, effective from the close of business hours on April 18, 2025. The company shared this update in a regulatory filing to both BSE and the National Stock Exchange (NSE) under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

According to the disclosure, Singh has stepped down from his position citing personal reasons. His resignation also marks his cessation as a senior management personnel of the company. Setco Automotive confirmed that the resignation letter submitted by Singh has been formally accepted and annexed in the filing.

The company stated that all necessary details as per the SEBI circular dated July 13, 2023, have been provided and that this development has been shared with the stock exchanges in compliance with applicable regulatory norms.

Setco Automotive has not yet announced a successor to Singh.

Setco Automotive Limited is an Indian company engaged in the manufacture and supply of clutch systems and components for commercial vehicles. Headquartered in Mumbai, the company primarily caters to the medium and heavy commercial vehicle (M&HCV) segment. It has manufacturing facilities located in Kalol (Gujarat), Sitarganj (Uttarakhand), and an overseas unit in the United Kingdom. Setco’s operations cover OEM (Original Equipment Manufacturer), aftermarket, and export segments.

Established in 1982, Setco Automotive has focused on developing clutch solutions that align with evolving industry requirements. The company supplies products to leading domestic and global commercial vehicle manufacturers and also serves the aftermarket through its distribution network. Its product portfolio includes clutch discs, cover assemblies, and clutch systems tailored for various vehicle models. The company’s in-house research and development capabilities support innovation and product customization.

Setco’s subsidiary, LavaCast Pvt. Ltd., operates in the foundry business and supplies castings, primarily for automotive applications. The company’s operations emphasize manufacturing quality and maintaining standards consistent with OEM expectations. Through its manufacturing and foundry infrastructure, Setco aims to support both captive and third-party requirements.

Over the years, Setco Automotive has also engaged in strategic partnerships and technology development to expand its footprint in the commercial vehicle component segment. While the company’s primary market remains India, its presence in international markets contributes to its overall business performance.

Setco is a publicly listed company with its equity shares traded on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). It follows regulatory compliance in line with the Securities and Exchange Board of India (SEBI) guidelines.

As part of its corporate governance practices, Setco regularly updates stakeholders on material events, financial results, and management changes. The company continues to focus on operational efficiency, customer servicing, and long-term sustainability in the automotive components sector.

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A new report released by ParaSafe, a subsidiary of Paracoat, has identified significant gaps in road safety awareness and compliance across India, particularly in Tier 2 and Tier 3 cities. Despite advancements in vehicle technology and infrastructure, the report highlights that road safety remains a pressing public health concern.

The report reveals that 1.68 lakh people lost their lives in road accidents in 2022. A majority of these incidents were linked to lack of awareness (65%) and weak enforcement of traffic laws (52%). The findings point to the need for a more structured and inclusive approach to promoting safety on Indian roads.

ParaSafe CEO Rajesh Poddar emphasized the importance of accountability across all stakeholders, including the government, industry, and citizens. He noted that enhancing access to basic safety tools such as first-aid kits and safety harnesses could play a role in reducing the number of accidents.

To address the issue, the report recommends a combination of public awareness campaigns, stricter enforcement measures, and supportive policies. It proposes the use of automated systems for traffic compliance, increased penalties for violations, and mandatory checks for safety equipment like seat belts and first-aid kits. The report also calls for subsidies on child seats and emergency kits to make safety tools more affordable and widespread.

Further, it highlights the need for educating the public about the Good Samaritan Law and offering first-aid training to empower citizens to assist accident victims without fear of legal repercussions.

Key findings from the report include low awareness and usage of basic safety measures. About 65% of respondents admitted to not following road safety rules. Only 26% were aware of ISOFIX child safety systems, and just 19% knew about child safety harnesses for two-wheelers. The use of rear seat belts was reported by only 22% of respondents. Additionally, 80% had never checked if their personal or public vehicles were equipped with first-aid kits. While 95% said they were willing to help accident victims, 48% expressed fear of legal consequences, and 32% lacked first-aid knowledge.

ParaSafe aims to contribute to reducing road crash injuries and fatalities by 50% by 2030, in line with the vision of the Government of India and the World Health Organization. The company is also developing what it describes as India’s first comprehensive platform for mobility safety solutions, while continuing to collaborate with educational institutions, NGOs, and digital platforms to promote safer road practices.

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