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You must have heard of luxury cars and sports bikes but <a href="http://www.businessinsider.in/searchresult.cms?query=Piaggio+&amp;sortorder=effectivedate">Piaggio </a>took the tag luxury to the next level when it launched the extremely gorgeous and exclusive <keyword id="3760530" type="UNKNOWN" weightage="100" keywordseo="Vespa-946-Emporio-Armani">Vespa 946 Emporio Armani</keyword> Edition in India. The scooter priced at Rs 12,04,970 was commissioned last year to mark the 40th anniversary of <a href="http://www.businessinsider.in/searchresult.cms?query=Georgio+Armani+&amp;sortorder=effectivedate">Georgio Armani </a>and the 130th anniversary of the <keyword id="167008" type="COMPANY" weightage="20" keywordseo="Piaggio-Group">Piaggio Group</keyword> and receives styling from the iconic fashion brand, Armani. 
 Along with this special edition, <keyword id="408913" type="UNKNOWN" weightage="20" keywordseo="Piaggio-India">Piaggio India</keyword> also launched its 70th Anniversary Edition Vespa that has been priced at ₹ 96,500. 
 With such a huge price for an exclusive tag, the new Vespa 946 <keyword id="209941" type="COMPANY" weightage="20" keywordseo="Emporio-Armani">Emporio Armani</keyword> edition is now the second most expensive scooter in the country after the Aprilia SRV 850 ABS and stand at bein the most expensive Vespa in India. 
 
The scooter will be coming to India via CBU (completely built unit) route on a made to order basis. The new Vespa 946 Emporio Armani edition is not only the combo of style and luxury, it also peaks on snob value by a hefty margin. 
 <keyword id="272382" type="COMPANY" weightage="20" keywordseo="Piaggio">Piaggio</keyword> has shared that it has already received two orders from India for its exclusive scooter. 
 
The new Vespa 946 Emporio Armani edition has the vintage styling of the 1946 Vespa scooter and is coupled with the most advanced technology in the scooter segment. The scooter is underpinned by a steel plate monocoque frame with aluminium parts including the rims, handlebar, side panels, and front mudguard that are accentuated by neo-retro character lines and the matte black colour. 
 
The metal parts have been produced using galvanic treatments and have a satin finish, and create an opaque effect in line with the finishing touches of the body. The scooter also comes with the words 'Emporio Armani' on the side, while the iconic eagle logo of the brand sits above the headlight. The feature line includes brown leather finishes including the floating seat and grips, full LED headlamp, tail light and indicators, as well as an LCD instrument cluster among others. 
 
The scooter is powered by a 125cc single-cylinder engine and it produces 11.72 bhp of power and 10.3Nm. the scooter works on an automatic transmission and will sport 220mm double disc brakes, dual-channel ABS and ASR (Anti-Slip Regulator) traction control. 
 
The scooter will be retailed via Vespa dealerships and Piaggio's Motoplex showrooms across India. Bookings have commenced already. 
(image: IndiaTimes)

This is Vespa 946 Emporio Armani- the most expensive scooter in India

Mumbai, Apr 17 () Piaggio Vehicles India on Friday said it will set up an isolation centre in Baramati of Maharshtra, besides providing safety gears and installing sanitisation infrastructure at the government-run Sasoon Hospital in Pune as part of its multiple initiatives for the fight against COVID-19.Piaggio Vehicles Pvt Ltd (PVPL), which is a 100 per cent subsidiary of Italian auto major, Piaggio Group, has its manufacturing facility in Baramati district.For the safety of the health workers and to create awareness about how to fight against COVID-19, PVPL in association with an NGO is providing infrastructure support to Pune's Sassoon Government hospital. Under this initiative, PVPL is providing personal protective equipment (PPE) kits and installing sanitisation infrastructure at the hospital, the company said in a release.Besides, the company is also arranging free supplies of ration kits to nearly 1,000 migrant labourers in the Baramati MIDC area through the local administration and also to the migrants in the construction sector, to ensure basic food security for a month. The company is also closely working with the local government authorities of Baramati and supporting them to fight coronavirus pandemic, the release said adding PVPL is also setting up an isolation centre. PVPL has also started procuring medical equipment like ECG machines, ICY beds, Pulse Oximeter, and PPE kits required for the isolation center, it added."In these exceptionally difficult times we stand with the government to provide our relentless support. This is an unparalleled crisis that needs cooperation and support from all of us as a community," Diego Graffi, MD &amp; CEO, Piaggio Vehicles Pvt Ltd, said in the release. IAS MKJ

Coronavirus: Piaggio Vehicles provides safety gears, infra support to govt hospital in Pune

Ousted <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> Chairman <keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> responded to each and every charge that was levelled by <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword>. 
 
Mistry slammed Tata Group’s claim that the write-downs were not due to legacy issues. In an official statement, Mistry said the legacy issues were largely due to Tata Teleservices. 
 
“Impairments and write-downs due to legacy issues. Piaggio Aero investment especially distressing. Tata advertisement a brazen attempt to mislead public and shareholders,” read the official statement. 
 
Mistry has claimed the group incurred loss of Rs 1,150 crore in Piaggio-Aero deal. 
 Meanwhile, Mistry went a step ahead and raked up the <keyword id="145310" type="PERSON" weightage="100" keywordseo="Nira-Radia">Nira Radia</keyword> issue. 
 “Radia was paid about Rs 40 crore per year, Arun Nanda was being paid about Rs 60 crore per year, while <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>'s office got about Rs 30 cr per year. Even, Nagarjuna, Sasol JV investments questionable,” the statement read. 
 
The Radia tapes controversy surfaced after telephonic conversations between Nira Radia, an influence peddler and an acquaintance of the (then) Indian telecom minister A. Raja, and with senior journalists, politicians, and corporate houses, were taped by the Indian Income Tax Department in 2008–09. The tapes led to accusations of misconduct by many of these people. 
 
Radia used to run a public relations firm named Vaishnavi Communications, whose clients included the Tata Teleservices. 
 
Also, Mistry referred to the vision document and said the 2025 Group Strategy Document was tabled in Tata Sons June 2015 board meet. 
 
“Strategy Document was presented again in Dec 2015 and June 2016,” the statement read.

Cyrus Mistry responds to charges made by Tatas; rakes up controversial Nira Radia issue

EV startup Vidyut on Tuesday said it has raised $10 million in its Series A fundraise (a mix of equity and debt funding) led by 3one4 Capital, and will deploy new funds to scale its new offerings that include EV insurance, lifecycle management and EV resale. The round also witnessed participation from new and existing investors namely, Saison Capital, <keyword id="20657706" type="General" weightage="20" keywordseo="zephyr-peacock" source="keywords">Zephyr Peacock</keyword>, Force Ventures, a venture debt fund Alteria Capital and CEO of Udaan, <keyword id="20483955" type="General" weightage="20" keywordseo="sujeet-kumar" source="keywords">Sujeet Kumar</keyword>. Founded in 2021, the startup said it aims to expand its presence to 40 cities and will double its team size by the end of FY25 as it prepares to build a full stack EV ecosystem. "Our focus is not just on financing but on elevating the entire EV ownership journey for India's SMBs, who are the backbone of our economy," said <keyword id="20657704" type="General" weightage="20" keywordseo="gaurav-srivastava" source="keywords">Gaurav Srivastava</keyword>, co-founder of Vidyut. The company already offers ownership solutions for Mahindra, Piaggio, Altigreen, Murugappa Group's Montra Electric, Euler Motors and OSM vehicles. "Vidyut's model removes EV adoption barriers, especially in the large but price sensitive driver cum owner segment. At 3one4 Capital, we are excited to back the Vidyut team in their mission to simplify EV ownership," said <keyword id="20657703" type="General" weightage="20" keywordseo="sonal-saldanha" source="keywords">Sonal Saldanha</keyword>, Vice President, Investments, 3one4 Capital. "After hitting an inflection point, customised financing and lifecycle management solutions will play a central role in large scale EV adoption, requiring lenders to evaluate asset risk alongside borrower risk," added <keyword id="20657705" type="General" weightage="20" keywordseo="dhairen-tohliani" source="keywords">Dhairen Tohliani</keyword>, Vice President, Alteria capital. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms" target="_blank">Pixel 8 Pro review: ‘Okay Google’ – The flagship smartphone ticks almost all boxes</a><a href="https://www.businessinsider.in/tech/news/dell-xps-17-9730-review/articleshow/107330203.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/dell-xps-17-9730-review/articleshow/107330203.cms" target="_blank">Dell XPS 17 9730 review – Feature-packed laptop but at a premium</a><a href="https://www.businessinsider.in/tech/news/viewsonic-vx3219-2k-pro-review/articleshow/106729348.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/viewsonic-vx3219-2k-pro-review/articleshow/106729348.cms" target="_blank">ViewSonic VX3219 2K PRO gaming monitor – Reliable at an affordable price</a>

EV startup Vidyut raises $10 mn to build full-stack ecosystem

<ul class="summary-list"><li>Wreckage of a plane reportedly carrying German business mogul Rainer Schaller was found off the coast of Costa Rica. </li><li>Schaller's plane vanished Friday after departing from Mexico, according to authorities.</li></ul>Wreckage of an airplane reportedly carrying German fitness mogul Rainer Schaller — the founder and CEO of the gym chain McFit — was found off the coast of Costa Rica on Saturday, according to officials.Authorities on Saturday said the remains of an aircraft they believe to be the missing two-engine turboprop were identified at sea near Costa Rica's Límon Airport, German international broadcaster <a href="https://www.dw.com/en/plane-carrying-mcfit-gym-tycoon-rainer-schaller-disappears-reports/a-63525312">Deutsche Welle reported.</a> The small Piaggio 180 private jet— which also was transporting Schaller's partner, Christiane Schikorsky, and their children —was first reported missing on Friday en route to Costa Rica from Mexico, <a href="https://www.bild.de/news/ausland/news-ausland/fuenf-deutsche-vor-der-kueste-costa-ricas-vermisst-funkkontakt-abgebrochen-81699128.bild.html">per German newspaper Bild</a>. The aircraft lost communication just under three hours after departing from the Mexican city of Palenque. "Twenty-eight kilometers from the Limón airport, in the Caribbean Sea, wreckage was located that apparently indicates that it is the aircraft. At the moment we have not located any bodies or people alive," Costa Rican Vice Minister of Public Security Martin Arias said. according to <a href="https://www.dw.com/en/plane-carrying-mcfit-gym-tycoon-rainer-schaller-disappears-reports/a-63525312">Deutsche Welle</a>. A spokesperson for McFit did not immediately respond to Insider's request for comment, but confirmed to Bild of Friday that Schaller and his family were aboard the plane, along with another unidentified man, noting the company did not "know anymore at the moment." Schaller is the founder and CEO of RSG Group, which owns McFit, John Reed, and Gold's Gym fitness studios around the world. He bought <a href="https://www.businessinsider.com/golds-gym-bankruptcy-coronavirus-pandemic-2020-5">Gold's Gym after the company filed for bankruptcy</a> in 2020 as part of a <a href="https://www.healthclubmanagement.co.uk/health-club-management-news/After-the-rain-comes-the-sunshine-exclusive-interview-with-Rainer-Schaller/348181">$100 million deal</a>. McFit is the largest gym chain in Germany, with a total of 1.4 members across 246 studios, including locations Austria, Italy, Poland, in Spain, <a href="https://www.mcfit.com/de/unternehmen/">according to the company</a>.

Wreckage of missing airplane carrying German fitness mogul Rainer Schaller reportedly found off the coast of Costa Rica

<ul class="summary-list"><li><a href="https://www.businessinsider.com/category/vespa">Vespas</a> are an icon of <a href="https://www.businessinsider.com/category/italian">Italian culture</a>, featured in movies like Fellini's "La Dolce Vita" and "Roman Holiday" with <a href="https://www.businessinsider.com/category/audrey-hepburn">Audrey Hepburn</a>.</li><li>Vespa has made and sold over 1.6 million scooters all over the world.</li><li>We visited the headquarters of <a href="https://www.vespa.com/uk_EN">Vespa</a> and the <a href="https://www.piaggio.com/gb_EN/">Piaggio Group</a> in Pontedera, Italy to see how the iconic two-wheelers are made.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a> </li></ul>Vespas are more than just scooters. Over the years, they have become an icon of Italian culture and of "made in Italy" itself. They have been featured endlessly on the big screen in movies like Fellini's "La Dolce Vita" or "Roman Holiday" with Audrey Hepburn."Vespa is an extraordinary story," Piaggio Group design director Marco Lambri told Business Insider. "It's a story that was born in 1946, after the Second World War thanks to Enrico Piaggio's intuition and the genuis of an engineer, Corradino D'Ascanio. At the time, Piaggio was building in the aeronautical and naval field and the owners decided to reconvert the company in a new field: personal mobility. After the war, Italy had to start up again. And through this vehicle, simple, cheap, and for everyone, they thought they could give a significant contribution."Vespa has made and sold over 1.6 million scooters all over the world. Vespa debuted in 1946 at the Rome Golf Club, and it quickly gained popularity. It went from selling 2,500 scooters in 1947 to more than 20 times that in only three years, selling 60,000 in 1950. The first models were sold for 55,000 lire, or about $245 at the time. Vespa prices were very competitive, and this, together with its sleek design, is what turned it into a success."Vespa was born after a strange combination of coincidences," said Lambri. "Corradino D'Ascanio, its engineer, actually didn't love motorbikes. He designed this Vespa based on who was supposed to drive it but without the constraits of motorbikes back then. It had to be easy to use, protective, comfortable. He designed it thinking about how he would have used it. Its name comes from Enrico Piaggio's exclamation when he saw the first prototype. Its shape, with a narrow waist and large rear,resembled a wasp (vespa in Italian). When he said it, he said, "It looks like a wasp!" And this is how Vespa was born."We visited the headquarters of <a href="https://www.vespa.com/uk_EN">Vespa</a> and the <a href="https://www.piaggio.com/gb_EN/">Piaggio Group</a> in Pontedera, Italy to see how the iconic two-wheelers are made. Vespa differs from other scooters in that its body frame is made entirely of steel stampings that are welded together, which is exactly how Piaggio made its airplanes when it launched the scooter in 1946.Aside from the Pontedera factory, Piaggio also opened a factory in Vietnam in 2013 to cater for the great demand in Asian markets.

We visited the Vespa headquarters in Pontedera, Italy to see how the iconic two-wheelers are made

Arvind Kapur’s <keyword id="67917" type="COMPANY" weightage="20" keywordseo="Rico-Auto">Rico Auto</keyword> Industries has given up its 50% stake in <keyword id="2535085" type="COMPANY" weightage="20" keywordseo="FCC-Rico">FCC Rico</keyword> Ltd to its Japanese partner <keyword id="2535086" type="UNKNOWN" weightage="20" keywordseo="FCC-Co">FCC Co</keyword> Ltd. There was a joint venture company between Rico Auto and FCC Co with 50:50 share equity. The company sold its stake for Rs 495 crore. 
	
		"... The Board of Directors of Rico Auto Industries Ltd. on September 25, 2014 has approved the divestment of the entire 50 per cent stake of the Company in FCC RICO Limited, the joint venture between the Company and FCC Co Ltd, Japan, to FCC Co Ltd, Japan or its affiliates, a FCC Group Company for gross consideration of Rs 495 crore," the company informed Bombay Stock Exchange. 
		 
	
		The company added, “The sale will be completed subject to completion of customary conditions precedent and such other regulatory conditions as may be required to be complied with as applicable". 
	 
	
		The joint venture was established in 1997 and was exclusively into manufacturing and supplying of automobile clutch assemblies to OEMs of two wheelers and four wheelers. Some of its primary clients include Honda group companies, Suzuki, Yamaha, TVS, Piaggio and Bajaj. Rico Auto, in its quarter ended 30 June, has declared that auto component maker has carried out an assessment to determine if there is a permanent diminution in the value of investments in two of its subsidiaries <keyword id="2535087" type="UNKNOWN" weightage="20" keywordseo="Rasa-Autocom">Rasa Autocom</keyword> Ltd and Rico Jinfei Wheels Limited. 

Represntational Image

Japanese FCC Co Buys Out Rico Auto’s
Stake For Rs 495 Crore

Following the entire stake sale in FCC Rico Limited, a joint venture between <keyword id="67917" type="COMPANY" weightage="20" keywordseo="Rico-Auto">Rico Auto</keyword> and Japanese firm <keyword id="2653838" type="UNKNOWN" weightage="20" keywordseo="FCC-Co-Ltd">FCC Co Ltd</keyword>, <keyword id="624036" type="PERSON" weightage="20" keywordseo="Arvind-Kapur">Arvind Kapur</keyword>, chairman of Rico Auto, has now resigned from the Board of the company. Rico Auto had sold its entire 50% to FCC in September this year for Rs 495 crore. 
	 
	“…Pursuant to the divesture, the nominee directors of Rico Auto Industries Limited appointed to the board of FCC Rico Limited including Arvind Kapur have also resigned from the board of directors of FCC Limited with effect from today,” the company informed National Stock Exchange in a letter dated December 23, 2014. 
	 
	It should be noted that the board of Rico Rico Auto had approved the divestment of stake in its joint venture on September 25, 2014. The joint venture was established in 1997 and was exclusively into manufacturing and supplying of automobile clutch assemblies to OEMs of two wheelers and four wheelers. Some of its primary clients include Honda group companies, Suzuki, Yamaha, TVS, Piaggio and Bajaj. 
	 
	Rico Auto, in its quarter ended 30 June, has declared that auto component maker has carried out an assessment to determine if there is a permanent diminution in the value of investments in two of its subsidiaries Rasa Autocom Ltd and Rico Jinfei Wheels Limited. 
	 
	Representational Image

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This is Vespa 946 Emporio Armani- the most expensive scooter in India

BI India Bureau

Coronavirus: Piaggio Vehicles provides safety gears, infra support to govt hospital in Pune

PTI

Cyrus Mistry responds to charges made by Tatas; rakes up controversial Nira Radia issue

BI India Bureau

EV startup Vidyut raises $10 mn to build full-stack ecosystem

IANS

Wreckage of missing airplane carrying German fitness mogul Rainer Schaller reportedly found off the coast of Costa Rica

Bethany Biron

We visited the Vespa headquarters in Pontedera, Italy to see how the iconic two-wheelers are made

Claudia Romeo

Japanese FCC Co Buys Out Rico Auto’s Stake For Rs 495 Crore

Purba Das

Rico Auto Chairman Arvind Kapur Resigns From Subsidiary Firm FCC Rico Limited Board

Purba Das

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