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Ashok Leyland: The commercial vehicle major looks to grow its new software engineering team by over 6X in the next 3 years in anticipation of software-defined commercial vehicles.
Creador Private Equity has made an investment of ₹416 crore ($50 million) in Hinduja Tech Limited for acquiring 19.6% shareholding.
ETAutoEVC: Deliberations at the first day of the 8th ETAuto Conclave provided a comprehensive overview of the strategies and approaches required for the successful design and development of electric vehicles in India and emerging markets. From affordability and connectivity to innovative design and technology integration, the insights shared by industry leaders showcased the collective efforts towards shaping the future of electric mobility in India and similar other markets.
The survey is being carried out in connection with a tax evasion probe under the General Anti Avoidance Rules (GAAR).
Hinduja Tech (HTL), the digital technology arm of Hinduja Group's flagship company Ashok Leyland, is in early talks with private equity funds to sell a minority stake in the company. HTL plans to raise around INR 830 crore (USD 100 million) at a valuation of USD 400 million (INR 3,300 crore) to support its expansion in the e-mobility industry. The company has engaged investment bank Rothschild to find an investor.