Mahindra & Mahindra has announced it would make an additional investment at its Chakan plant in Maharashtra. As part of its expansion plans, the company will invest over Rs 500 crore in its electric vehicle (EV) project under the new EV policy of the government of Maharashtra.The new investment for EV and EV components is in addition to its ongoing expansion plan in Chakan which includes an initial investment of Rs 6,500 crore. This additional investment is to be utilised towards product development and capacity enhancement for EVs and related components. The MoU was signed by Sunil Porwal, Additional Principal Secretary (Industries), government of Maharashtra and Dr Pawan Goenka, managing director, Mahindra & Mahindra, in the presence of Devendra Fadnavis, chief minister of Maharashtra and other dignitaries present at the Magnetic Maharashtra Conference currently underway in Mumbai. Speaking on the occasion, Dr Pawan Goenka said, "We are delighted … [Read more...] about Mahindra pumps in Rs 500 crore more into its EV programme
Enhanced investment products limited
Product design and validation solutions provider in the automotive space, Altair recently associated with apex automotive testing and research body, Automotive Research Association of India (ARAI), to conduct its first-ever collaborative workshop in New Delhi. The aim was to shed light on the conjoint benefits of virtual and physical validations, which could be brought together to cut down on the cycle times for product development.The company, in 1989, introduced the HyperMesh software tool, which could be considered to be the birth of Altair in the true sense, giving it fast acceptability and recognition in finite element modeling across OEs around the world.Being in the business for quite some time since 1985, Altair also recently became public and went for an IPO to get listed on the NASDAQ in October 2017. It closed FY2016 with US$ 323mn in revenues.Some of the newer set of solutions include Altair's SolidThinking software tool, which provides options of topology … [Read more...] about Altair and ARAI conduct product validation enhancement symposium
Subaru of America is fresh off its best U.S. sales year.Its lineup is anchored by three all-wheel-drive crossovers that remain in strong demand, and the brand has achieved 74 consecutive months of year-over-year sales increases.This year, with a flowing pipeline of fresh products headed to retailers, including its largest model ever, the three-row Ascent, Subaru anticipates it will chalk up still another record sales year in the United States.That hasn't always been the narrative for Subaru, a car brand created by the Japanese industrial conglomerate formerly known as Fuji Heavy Industries.This month, as the automaker marks its 50th anniversary of selling vehicles in the U.S., Subaru of America officials and people who shaped today's business over the last few decades remark that success has been a long, and occasionally bumpy, road.Since its start here in 1968 as an importer of a quirky microcar called the 360, Subaru has fought — and usually won — a slew of uphill battles … [Read more...] about Underdog Subaru celebrates 50 years in the U.S.
The Indian automotive industry, though not a major beneficiary from the just-announced Union Budget 2018, will still benefit from demand created by the government’s heightened focus on big-ticket spend on infrastructure and rural India.ACMA, the apex body representing India’s auto component sector, welcomed the measures announced in the Union Budget for providing the much needed thrust to the economy and making it inclusive. The industry body expressed satisfaction on the focus on development of rural economy, manufacturing, infrastructure, education, ease of doing business, attracting investments and encouraging innovation and digitisation. Congratulating the Union Finance Minister, Arun Jaitley, president ACMA, Nirmal Minda, said, “The Budget unveiled by Hon’ble Finance Minister is indeed inclusive and pro-manufacturing. The component sector is delighted that the duty on select items such as engine & transmission parts, brakes and parts thereof, … [Read more...] about Budget 2018 may see ripple effect for India Auto Inc
With a contribution of over 60 percent to its overall global business, Varroc Lighting Systems (VLS), the Czech-based Varroc Group’s lighting arm is set to make strides with new innovative technologies, also envisioning India as a strong driver of contemporary developments in the coming future.The company has seen a lot of hard driving in the recent past to bring LED technology into the mainstream automotive application. While it could gauge progress being made gradually, the penetration is really accelerating now, also making way into the two-wheeler space. VLS, today, is offering the front LED headlamps on the Bajaj Dominar and the KTM Duke 2017 models in India.Surface-LED technology uses thin layers of micro-optic filters and conventional LED light sources to achieve the homogeneous appearance generally associated with OLEDs.According to Todd Morgan, senior vice president, global product development, VLS, “Standardisation is going to play a key role in bringing LED … [Read more...] about Varroc eyes surface LEDs to drive future growth