Bajaj Auto announces EV manufacturing unit at Akurdi
Bajaj Auto Limited has announced an investment of ₹300 crore and commenced work at a new unit at Akurdi for manufacturing electric vehicles (EV). The unit will have a production capacity of 500,000 EVs per annum. The first vehicle from this unit is expected to roll out by June 2022. The new unit will have cutting-edge robotic and automated manufacturing systems for everything including logistics and material handling, fabrication and painting, assembly and quality assurance. It is spread over half a million sq ft and will employ about 800 personnel. The investments made by Bajaj Auto will be supplemented by a number of vendors, who will invest a further ₹250 crore.
Rajiv Bajaj, managing director, Bajaj Auto Ltd said, “Light electric vehicles for sustainable urban mobility is an idea whose time may finally have come. This investment at Akurdi completes the virtuous cycle of hi-tech R&D competencies, high-efficiency engineering capabilities, world class supply chain synergies, and global distribution network which should leapfrog us into a market leading position in EVs in India and overseas.”
Deepak Shikarpur conferred with ‘Maharashtrachi Girishikhare’ award
On the occasion of diamond jubilee of Maharashtra state, Governor Bhagatsingh Koshyari recognised personalities from all over the state excelling in several fields with ‘Maharashtrachi Girishikhare’ award. IT entrepreneur and author Deepak Shikarpur was awarded by Governor Koshyari for his contribution in IT Sector. Shikarpur helped IT professionals and students in last two years and established them in careers. He has authored 43 books on IT and has conducted several talk shows and career seminars all over the state.
We Founder Circle leads seed round worth USD 100k in Glii
We Founder Circle (WFC) – a founder-backing-founder based early-stage start-up investor — has led seed round worth USD 100K in Glii, a new age dating and companionship app. The startup plans to exhaust funds in enhancing the product. One of the bigger chunks will go in upgrading the technology backbone including the overall look and feel of the app, and additionally building the tech team. Another part of raised funds will be utilised on the brand building.
“With this fresh fund infusion, now we can develop a strong second layer of tech in Glii. This fund is going to act like a fuel to the fire,” said Shivam Kaushik, founder, Glii.
Neeraj Tyagi, CEO and co-founder, We Founder Circle commented, “As an investor, I feel that if somebody is making an effort to break the stigmas and do a larger good to the society, then he must get undeterred support. Glii is one such model which will patch the existing gaps in the entire concept of finding companionship online.”
ZF acquires majority stake in JV with Rane Group
ZF has increased its shares to become the majority shareholder with 51 per cent in the Rane TRW Steering Systems joint venture from the Rane Group. Till date, both partners held equal shares in the company, which employs around 3,400 people. In the future, the joint venture will operate on the market under the name ZF Rane Automotive India.
“India is a very important market for ZF, and we want to grow sustainably here,” says Holger Klein, member of the board of management (BOM), ZF Group. “By acquiring a majority stake from our long-standing partner Rane, we aim to further expand both our passenger car and commercial vehicle business for our customers in the India region.”
Suresh KV, President ZF India Pvt Ltd. stated, “The complementary nature of the partners has been the hallmark of this JV which has resulted in the organisation performing consistently over the years. Supporting the Indian customer base with ZF engineering and technology along with the customer connect and operations excellence of Rane will continue to be the goal of this JV in future.”
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