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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Suzuki to invest Rs 70,000 crore in India over next 5–6 years

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New Delhi, (IANS): Japanese automaker Suzuki Motor Corporation on Tuesday announced that it will invest Rs 70,000 crore in India over the next five to six years.

The investment will be used to increase production, introduce new car models, and protect its leadership position in the world’s third-largest automobile market.

The announcement was made by Suzuki Motor Corporation President Toshihiro Suzuki during the launch of Maruti Suzuki’s first electric SUV, the ‘e-Vitara’, at the company’s Hansalpur plant in Gujarat.

Prime Minister Narendra Modi flagged off the first batch of the electric SUVs at the inauguration ceremony.

The e-Vitara will be manufactured exclusively at Suzuki Motor Gujarat (SMG), a unit of Maruti Suzuki India, and exported to more than 100 countries.

The first shipment will leave from Pipavav port for Europe, covering markets like the UK, Germany, France, Norway, Italy, and several others.

Suzuki also confirmed that the electric SUV will be exported to Japan.

Toshihiro Suzuki said the Gujarat facility is being developed into one of the world’s largest automobile hubs with a planned capacity of 10 lakh units annually.

“We chose this facility to manufacture our first battery electric vehicle, the e-Vitara, and make it a global production hub,” he said.

Calling it a “historic day” that coincided with Ganesh Chaturthi, Suzuki praised Prime Minister Modi’s leadership in driving India’s green mobility push.

“Suzuki has proudly partnered in India’s mobility journey for over four decades, and we remain committed to supporting India’s vision of sustainable mobility and contributing to Viksit Bharat,” he added.

India is Suzuki’s biggest market by sales and revenue, largely through its majority-owned subsidiary, Maruti Suzuki, the country’s top carmaker.

Over the years, Suzuki has invested more than Rs 1 lakh crore in India, creating over 11 lakh direct jobs in its value chain.

Alongside the e-Vitara launch, the company also marked another milestone by beginning production of India’s first lithium-ion battery and cell with electrode-level localisation.

These batteries, used in hybrid vehicles, will now be made in India with only raw materials and some semiconductor parts imported from Japan.

Suzuki said this step is a strong push towards ‘Atmanirbhar Bharat’, and the company will follow a ‘multi-powertrain strategy’ to meet its carbon neutrality goals.

This includes electric vehicles, strong hybrids, ethanol flex-fuel vehicles, and compressed biogas.Following the announcement, shares of Maruti Suzuki India Limited were trading higher at Rs 14,608.10, up 1.04 per cent during intra-day trade on Tuesday. Suzuki to invest Rs 70,000 crore in India over next 5–6 years | MorungExpress | morungexpress.com
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