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Mumbai: Kotak Mahindra Prime Limited (KMPL), a leading vehicle finance company and a subsidiary of Kotak Mahindra Bank Limited, has announced a leadership transition approved by its Board of Directors. The Board has appointed Mr. Suraj Rajappan as Managing Director & Chief Executive Officer for a term of three years, effective June 1, 2026, subject to approval of members. Mr. Suraj Rajappan began his career with Kotak Mahindra Prime Limited and brings 24 years of cross‑functional experience acr ...Read More >
The investment will be channelled into reviving the automaker's Maraimalai Nagar facility near Chennai in Tamil Nadu, which will be retooled to produce over 200,000 engines annually. Ford Motor Co. plans to invest about ₹32.5 billion ($370 million) in India to manufacture high-end engines for export markets, marking a significant return to local production four years after shutting down operations in the country, according to a person familiar with the matter told Bloomberg. The investment wi ...Read More >
CHENNAI: US automaker Ford Motor Company said it will restart manufacturing in Chennai and commission production of new engines by 2029, backed by a new investment of Rs 3,250 crore.The announcement follows a memorandum of understanding (MoU) signed between Ford and the Tamil Nadu government on Friday.The Chennai plant is expected to have a planned capacity of 235,000 engines annually, with production expected to start in 2029. The project is expected to create over 600 direct jobs."We are pleas ...Read More >
Bengaluru - Global companies have flagged more than US$35 billion (S$45 billion) in costs from US tariffs heading into third-quarter earnings, but many are lowering their initial forecasts as new trade deals reduce exposure to President Donald Trump's levies. Mr Trump's trade war has hiked US tariffs to their highest levels since the 1930s, and the president has regularly threatened more duties, but overall, the fog that paralysed many businesses is clearing, allowing executives to forecast cos ...Read More >
Chandigarh: Veteran marathon runner Fauja Singh died on Monday, July 14, after being hit by an unidentified vehicle while out for a walk in his native village in Punjab's Jalandhar district. He was 114. His demise was confirmed by author Khushwant Singh, a former state information commissioner of Punjab, who spoke to Fauja Singh's family members. Khushwant Singh had written a biography on Fauja Singh titled 'The Turbaned Tornado'. The driver, who is yet to be identified, fled after the inciden ...Read More >
MUMBAI: After two of its predecessors -- General Motors and Ford -- failed to make a dent in the Indian market, not once but twice, a third American auto major -- Tesla -- is trying its luck. The only difference is that the world's richest man Elon Musk's auto venture is testing the electric mobility space and not the traditional ICE engine space. Yes, after years of blowing hot and cold, Tesla has formally entered the country with a single model -- the Model Y -- that too with just one entry v ...Read More >
NEW DELHI: Indian auto company Mahindra & Mahindra and parts maker Uno Minda are looking to make rare earth magnets locally to cut reliance on China, as New Delhi draws up incentives for production of the critical components, company and government sources told Reuters. China, which produces around 90% of the world's rare earth magnets, put restrictions in April on their export, and while it has restarted some supplies to the United States and Europe, Indian companies are still awaiting clearan ...Read More >
NEW DELHI, July 10 (Reuters) - Indian auto company Mahindra & Mahindra and parts maker Uno Minda are looking to make rare earth magnets locally to cut reliance on China, as New Delhi draws up incentives for production of the critical components, company and government sources told Reuters. China, which produces around 90% of the world's rare earth magnets, put restrictions in April on their export, and while it has restarted some supplies to the United States and Europe, Indian companies are st ...Read More >
New Delhi, June 7: Japanese carmaker Suzuki Motor has reportedly paused the production of its Swift compact cars at factories in Japan. The halt is said to be due to a shortage of key components, which has been caused by China's restrictions on exporting rare earth materials. These rare earth elements are essential in the manufacturing of vehicles. As per reports, the supply chain issues triggered by the export curbs have impacted Suzuki's ability to maintain output levels for its Swift model. ...Read More >
Trump's pledge to impose 25% tariffs on Mexico and Canada would lead to 400,000 job losses in the US, Economy Minister Marcelo Ebrard said Wednesday during a press conference alongside President Claudia Sheinbaum. A veteran of confrontational North American trade talks during Trump's first administration, Ebrard gave a presentation on how a new round of levies would affect the Mexico-US relationship. Also Read : France, Germany, Sweden urge EU to avoid China reliance on EV batteries Ebrard sa ...Read More >
Blue Yonder, one of the world's largest supply chain software providers, said Monday it was working to restore services after the attack last week disrupted systems it hosts for customers. Blue Yonder said it didn't have a timeline for when services would be restored. The company said the attack didn't affect systems that run on public cloud-based platforms. Starbucks said Monday the ransomware attack affected company-owned stores in its network of around 11,000 sites in North America. It disr ...Read More >
Auto Components 1 min read BYD to launch its next-generation blade battery in 2025 The current generation of BYD's Blade batteries powers its EVs and is also used by other big automakers such as Hyundai, Kia, Ford, Toyota, and Tesla. Made from Lithium-Ion Phosphate chemistry, the Blade batteries are more cost-effective than traditional Lithium-Ion batteries. China's electric vehicle giant BYD will launch the new generation of the Blade battery for electric cars next year. The new batteries will ...Read More >
Chris Koopmans, Executive Vice President and Chief Operations Officer of Marvell (NASDAQ:MRVL) Technology, Inc. (NASDAQ:MRVL), recently sold 6,000 shares of the company's common stock. The transaction, executed on November 15, 2024, amounted to $534,840, with shares sold at a price of $89.14 each. Following this sale, Koopmans retains 103,244 shares, which are held indirectly through the Christopher R. Koopmans and Heather J. Koopmans Family Trust. The sales were conducted under a pre-arranged ...Read More >
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