Page 5 - Sona Comstar News Today

Sona Comstar Sales: H1 FY24 revenue grew 22%YoY to INR1,523 crore, the company said.

India News: India and Sweden celebrated the 10th India Sweden Innovation Day with a focus on "Accelerating Green Growth." The event brought together policymakers,

Shares of Maruti Suzuki fell after the auto major announced festive discounts of up to Rs 65,000 on several models.

Blackstone Private Equity has teamed up with its Singapore-based portfolio company Interplex to launch a new mobility business, ENNOVI.

While the selling in Adani Group companies and Vedanta was meant to raise cash to manage debt, HDFC Life and CIE India saw promoter entities offloading stake for strategic reasons.

The growing focus of automakers on connected vehicles is expected to drive demand for embedded SIMs (e-SIMs) by as much as 3 million units in the next 12-18 months. This increase in demand for e-SIMs is anticipated to boost enterprise business for telecom operators. Experts also predict that the adoption of e-SIMs in automobiles will quadruple the demand for semiconductor chips by 2025.

As and when Tesla starts a manufacturing base or supply chain in India, it would usher in promising growth for Indian auto component manufacturers. However, to meet Teslas stringent standards, domestic manufacturers may need to elevate their capabilities, potentially incurring higher costs but fostering innovation.

“We believe that the number of OEM (original equipment maker) fitment connected vehicles could increase by around 2-3 million over the next 12-18 months,” a spokesperson for Bharti Airtel said, adding that demand for e-sims is led by manufacturers’ focus on launching internet-enabled vehicles with connectivity and smart features at the core of the product offering.

YBLF was established under the aegis of the Automotive Component Manufacturers Association of India (ACMA). It is a well-established and recognized platform for young, budding entrepreneurs in the automotive sector.

Acma Annual Convention: A joint research report by ACMA and McKinsey & Co. themed ‘Mobility 360° – Sustainability for competitiveness’, was also released during the event. The study provides a deep dive into the growing importance of sustainability, energy decarbonization, material circularity, and the need for cost-efficient alternatives. The report also highlights that the automotive and auto ancillary industry can play a significant role in India’s mission to achie...