Nissan to invest $17.6 bn in EV development over next 5 years


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Tokyo, (IANS): As the adoption of electric vechicles enters top gear globally amid rising petrol-diesel prices, Japanese auto-maker Nissan on Monday said it will invest $17.6 billion (2 trillion Yen) in developing new EVs and battery technology over the next five years.

Unveiling the 'Nissan Ambition 2030' plan, the company announced it will launch 23 new electrified models, including 15 new EVs, aiming for 50 per cent electrification mix, by fiscal year 2030.

"We will drive the new age of electrification, advance technologies to reduce carbon footprint and pursue new business opportunities. We want to transform Nissan to become a sustainable company that is truly needed by customers and society," said Makoto Uchida, Nissan CEO.

Over the next 10 years, Nissan aims to deliver exciting, electrified vehicles and technological innovations while expanding its operations globally.

The vision supports Nissan's goal to be carbon neutral across the life cycle of its products by fiscal year 2050.

With the introduction of 20 new EV and e-POWER equipped models in the next five years, Nissan intends to increase its electrification sales mix across major markets by fiscal year 2026, including Europe by more than 75 per cent of sales, Japan by more than 55 per cent of sales, China by more than 40 per cent of sales and the US by 40 per cent of EV sales in fiscal year 2030.

"With our new ambition, we continue to take the lead in accelerating the natural shift to EVs by creating customer pull through an attractive proposition by driving excitement, enabling adoption and creating a cleaner world," said Nissan COO Ashwani Gupta.

Representing the next stage of Nissan's electrified future, the company also unveiled three new concept cars that offer enhanced experiences through sophisticated technology packaging.

Nissan aims to launch EV with its proprietary all-solid-state batteries (ASSB) by fiscal year 2028 and ready a pilot plant in Yokohama as early as fiscal year 2024.

With the introduction of breakthrough ASSB, Nissan will be able to expand its EV offerings across segments and offer more dynamic performance.

"By reducing charging time to one-third, ASSBs will make EVs more efficient and accessible. Further, Nissan expects ASSB to bring the cost of battery packs down to $75 per kWh by fiscal year 2028 and aims to bring it further down to $65 per kWh to achieve cost parity between EV and gasoline vehicles in the future," the company announced.

Nissan intends to increase its global battery production capacity to 52 GWh by fiscal year 2026, and 130 GWh by fiscal year 2030.

Disclaimer: This story is auto-generated from news agency feeds and has not been edited by The Morung Express.Source: IANS Nissan to invest $17.6 bn in EV development over next 5 years | MorungExpress | morungexpress.com
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VE Commercial Vehicles to invest Rs 544 crore to boost manufacturing in India

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New Delhi, (IANS): VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, on Thursday announced an investment of Rs 544 crore (about 576 million Swedish Krona) to set up a new factory for the production and final assembly of Volvo Group’s advanced 12-speed Automated Manual Transmission (AMT) systems.

The greenfield facility will come up at the Vikram Udyogpuri Integrated Industrial Township near Ujjain, Madhya Pradesh.

This new plant marks another milestone in the 18-year-long successful partnership between Volvo Group and Eicher Motors, strengthening India’s position as a key manufacturing hub for the global automotive industry.

Sofia Frandberg, Chairperson of VE Commercial Vehicles and Senior Leader at Volvo Group, said that the new investment reflects the growing trust and synergy between the two partners.

“This investment represents another win-win collaboration with the Volvo Group and leverages the strong technical and industrial capabilities we have built over the past 18 years,” she said.

Siddhartha Lal, Chairman of Eicher Motors, said the initiative further strengthens the joint venture’s technological foundation.

“Since its inception in 2008, our partnership has consistently delivered advanced programmes. This new AMT project is built on trust and capability and marks another important step towards our vision of becoming a leading commercial vehicle player in India and other emerging markets,” he said.

Jens Holtinger, Executive Vice President of Group Trucks Technology and Volvo Group CTO, said the new AMT facility demonstrates the Volvo Group’s commitment to efficient and collaborative global manufacturing.

“VECV has become a core part of Volvo Group’s supply chain over the years, and this investment marks a new chapter in our successful relationship,” he said.

Vinod Aggarwal, Managing Director and CEO of VE Commercial Vehicles, highlighted the transformative impact of the AMT technology on the Indian commercial vehicle industry.

“As the market moves towards higher-capacity vehicles, Eicher truck customers and drivers will benefit from Volvo Group’s world-class AMT technology, which enhances fuel efficiency, reduces driver fatigue, and improves productivity,” he said.

The new facility will be built to Volvo Group’s global standards and aligns with the Government of India’s ‘Make in India’ vision.The plant will have an initial capacity to produce up to 40,000 units annually, with production and local sourcing to be ramped up gradually in line with Volvo’s quality benchmarks. VE Commercial Vehicles to invest Rs 544 crore to boost manufacturing in India | MorungExpress | morungexpress.com
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Temasek Invests in Haldiram’s as India Becomes a Key Market


Singapore’s state-owned investment fund, Temasek, has made yet another major investment in India; this time it acquired a 10% stake in Haldiram‘s Snacks Food, one of the leading snack brands in India.

This deal was worth $1 billion, giving Haldiram’s a valuation of $10 billion. This is the largest private equity deal in the consumer sector in India.
Reasons for Investing in Temasek Haldiram’s

Temasek has put up investments across several sectors in India, including but not limited to medicals, finance, and technology. Long-term growth potential for India is seen by the fund, which plans to invest $10 billion in the next three years.

The spokesperson from Haldiram’s said they’re thrilled to welcome Temasek as an investor and partner. It is going to complement the company’s expansion further, both within India and abroad.

Haldiram’s: A Legacy of Success

Haldiram’s started as small snack shop in Bikaner, Rajasthan, in 1937. Today, it is a household name across India famous for savoury snacks, sweets, and fast-food outlets.

Beverage brand holds nearly 13% of India’s $6.2 billion snack market according to Euromonitor International. It has also set up a manufacturing facility in the UK from where products are exported to different countries.

Haldiram’s Attracting More Investors

Haldiram’s has already positioned itself as a company sought out by major global investors. Companies such as the Tata Group and Bain Capital have toyed with earlier decisions about purchasing a stake in the company.

It is joined in this latest funding round by Temasek, along with two other investors- Alpha Wave Global (New York-based) and the UAE’s International Holding Co.
Temasek Expanding Its Footprint in India

Since 2004, Temasek has been building its presence in India based on its Mumbai office. Investments in the country are nearing $40 billion by 2024.

Apart from Haldiram’s, Temasek has now invested in leading Indian companies like: 
Looking Beyond India

But while Temasek stays optimistic about India, it has been restructuring its portfolios across all geographies depending on economic and geopolitical factors.In 2020, China constituted 29% of Temasek’s investments. That is set to fall to 19% by 2024, whereas India now makes up 7% of the total portfolio.Temasek Invests in Haldiram’s as India Becomes a Key Market
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