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Automaker <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword> lndia has invested about Rs 1.99 crore in <keyword id="21061376" type="General" weightage="20" keywordseo="amlgo-labs-private-limited" source="keywords">Amlgo Labs Private Limited</keyword>, a technology-led startup. The startup operates in the area of data analytics, cloud engineering, machine learning (ML) and artificial intelligence (Al), to assist companies in data driven decision making. With this, Maruti Suzuki will own an equity stake of over 6.44 per cent in the startup, the automaker informed stock exchanges on Saturday. The investment is being made through the Maruti Suzuki lnnovation Fund, an initiative to undertake strategic investments in startups which exhibit high levels of technological innovation. This is the second such investment by the company. Earlier, the company invested in <keyword id="21061374" type="General" weightage="20" keywordseo="sociograph-solutions-private-limited" source="keywords">Sociograph Solutions Private Limited</keyword>, specialised in AI, in June 2022. "We have been working with startups since 2019, as a part of the Maruti Suzuki lnnovation Program. Aligned with the government's Start Up India initiative, we are actively working to help strengthen the startup ecosystem and encourage innovation to develop solutions relevant to the automobile industry," HisashiTakeuchi, Managing Director and CEO, Maruti Suzuki India. "Our investment in Amlgo Labs Private Limited will help us to further strengthen quality of new models, using advanced analytics and machine learning," Takeuchi added. According to <keyword id="20693796" type="General" weightage="20" keywordseo="ajay-yadav" source="keywords">Ajay Yadav</keyword>, Founder, Amlgo Labs Private Limited said, "Our collaboration with Maruti Suzuki has proven to be fruitful, helping our company augment and scale up operations. Combining our expertise in Data Analytics, Machine Learning and Artificial Intelligence based solutions, with mentorship and networking opportunities offered by Maruti Suzuki, we will be able to further refine our offering." Started its journey in July 2017, the startup firm has offices in Gurugram and Bengaluru in lndia and Delaware in the US. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms" target="_blank">OnePlus 12 review: A feature-packed device with promising battery back-up</a><a href="https://www.businessinsider.in/business/auto/news/jsw-group-and-saic-motors-jv-jsw-mg-motor-india-set-to-up-production-to-3-lakh-vehicles-a-year-with-a-new-car-every-3-6-months/articleshow/108647799.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/jsw-group-and-saic-motors-jv-jsw-mg-motor-india-set-to-up-production-to-3-lakh-vehicles-a-year-with-a-new-car-every-3-6-months/articleshow/108647799.cms" target="_blank">JSW Group and SAIC Motor’s JV ‘JSW MG Motor India’ set to up production to 3 lakh vehicles a year with a new car every 3-6 months</a><a href="https://www.businessinsider.in/tech/news/asus-rog-strix-scar-16-review/articleshow/108514221.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/asus-rog-strix-scar-16-review/articleshow/108514221.cms" target="_blank">Asus ROG Strix Scar 16 review – powerful gaming laptop with a cool design</a>

Maruti Suzuki invests in machine learning, artificial intelligence startup Amlgo Labs

New Delhi, To incubate startups, <keyword id="44717" type="ORGANIZATION" weightage="20" keywordseo="Automobile">automobile</keyword> <keyword id="9791794" type="UNKNOWN" weightage="20" keywordseo="major-maruti-suzuki-india">major Maruti Suzuki India</keyword> has tied up with <keyword id="1394548" type="COMPANY" weightage="20" keywordseo="The-Indian-Institute-of-Management">the Indian Institute of Management</keyword>, Bangalore (IIMB). Accordingly, this partnership will help startups working in technology-based innovations that can be applied in the mobility sector. "The collaboration marks first-of-its kind initiative by an automobile manufacturing company to help early-stage startups become large scale businesses," the company said in a statement on Thursday. "This will be a 3-month (pre-incubation) and 6-month (incubation) engagement. <keyword id="44883" type="DOMAIN" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> has launched MAIL (<keyword id="9791181" type="COMPANY" weightage="20" keywordseo="mobility-and-automobile-innovation-lab">Mobility and Automobile Innovation Lab</keyword>) in January 2019, which supports startups by co-creating innovative business solutions in the mobility space." According to the company, the futuristic solutions being developed under the MAIL initiative have a positive impact on Maruti Suzuki's business. "These solutions help to efficiently bring in technological advancements relevant to automobile business," the statement said. "To expand the collaboration with startups, Maruti Suzuki now plans to engage with IIMB to incubate startups in the area of mobility." SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/club-factory-india-sellers-send-legal-notice-to-the-e-commerce-platform-over-non-payment-of-dues/articleshow/77650828.cms" data-type="tilCustomLink">Club Factory’s India sellers send legal notice to the e-commerce platform over non-payment of dues</a> <a href="https://www.businessinsider.in/india/news/supreme-court-rejects-prashant-bhushans-plea-to-delay-sentence-hearing-on-twitter-case/articleshow/77649463.cms" data-type="tilCustomLink">Prashant Bhushan rejects Supreme Court's offer to delay sentence but is given two to three days to reconsider statement</a>

Maruti Suzuki partners with IIM Bangalore to incubate mobility startups

NEW DELHI: <keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> India Ltd (MSIL) has appointed two local investment bankers — Kotak Mahindra Capital and Axis Capital — as the company seeks to persuade minority investors to back a controversial plan that calls for the carmaker's proposed Gujarat factory to be set up by parent <keyword id="200508" type="COMPANY" weightage="20" keywordseo="Suzuki-Motor-Corp-">Suzuki Motor Corp.</keyword> 
 Maruti <keyword id="6911" type="CITY" weightage="20" keywordseo="suzuki">Suzuki</keyword>'s manufacturing will be contracted to the plant in a practice that some experts say is unusual for the industry. The move has been opposed by some shareholders who believe it will undermine the Indian unit and divert income to the parent. 
 
Maruti Suzuki is seeking minority shareholder approval under Section 188 of the Companies Act for the special resolution related to the plan. It needs the support of at least three-fourths of its public shareholders to get the proposal passed, which in effect means a bloc with an 11% stake can block the resolution. 
 <keyword id="111052" type="CITY" weightage="20" keywordseo="Suzuki-Motor">Suzuki Motor</keyword> owns a 56.21% stake in MSIL, with the rest being held by the public. The investment bankers won't have any role in trying to sway investors, a Maruti Suzuki spokesperson said by email. They "have not been appointed to convince the institutional investors — domestic or foreign — to vote in favour of the Gujarat project structure," he said. That's being done by a Maruti Suzuki team led by chairman RC Bhargava and managing director and CEO Kenichi Ayukawa, he said. 
 
"The investment bankers are required to identify the investors in various parts of the world, arrange the meetings with them and the necessary logistical support. They are also involved in discussions with MSIL in finalizing the presentations and strategy for the discussions," he said. 
 
The margin of victory needed to get the plan approved came in for some questioning. "The new law requires that the proposal be passed by a special resolution. It is not clear why 26% of minority shareholders should be able to override 74% of minority shareholders in a vote where the promoter is not voting," the spokesperson said. 
 
After strong concerns were raised by domestic institutional investors over the issue, all eyes are now on Life Insurance Corp. (LIC) of India that owns a 6.63% stake in Maruti Suzuki. Domestic mutual funds, which together own a 6.16% stake in Maruti Suzuki, have already opposed the plan. 
 
In case LIC joins hands with them, the combined holding of those against the move would cross 12%, enough to block the resolution. "Given the stance taken by LIC in the case of Cairn India depositing $1.25 billion (Rs 7,500 crore) with its parent Sesa Sterlite, there is all likelihood that the largest Indian institutional investor is likely to oppose the proposal," said the head of one of the mutual funds. 
 
Maruti Suzuki pointed out that the objections by the domestic funds predate changes to the plan. "The letter was written before the March modifications to the original structure," the spokesperson said. "After the March modifications, no one has written to us conveying any concerns about the proposal." 
 
A senior LIC official, who didn't want to be named, said, "LIC has always worked to protect the interests of investors and this case will not be any different." Some believe the state-owned insurer may not oppose the plan. "The feedback we have received that it would support the proposed structure," said another mutual fund head. 
 Incidentally, Suzuki Motor chairman Osamu Suzuki met Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> last week. Mutual fund representatives said the appointment of investment bankers is also aimed at gauging the pulse of investors. In case they're not able to convince more than three-fourths of public shareholders, Maruti Suzuki may revisit its plan to seek shareholder approval. 
 
The next annual general meeting is set for September 4, but the proposal is not on the agenda. "We would not be ready for the vote on this matter by September 4, as we would not have completed our meetings with all investors in India and abroad," said the spokesperson. 
 
The resolution will be taken up at a later time. "The company plans to have a separate shareholders' meeting sometime later this year, which will be contingent upon the ongoing exercise to bring large investors on its side," said a fund manager. 
 
If the Maruti Suzuki plan goes ahead, it could set a precedent. Many promoters of listed companies would prefer to follow the same route that will result in destroying shareholder value, said a senior executive at an insurance company. 
 
"This opens up the door to every single promoter converting their listed company into a marketing arm. Will they now set up manufacturing outfits as 100% owned entities that sell through the listed company?" said Amit Tandon, CEO of Institutional Investor Advisory Services. "On what basis will companies be valued? And where does this end?" 
 
In March, a group of 19 leading domestic institutional investors that includes HDFC Mutual Fund, Birla Sun Life, ICICI Prudential, Reliance Mutual Fund, UTI SBI Mutual Fund and Axis Bank Mutual Fund among others wrote to Maruti Suzuki raising serious concern over the transaction. 
 
"As a policy, we don't comment on market rumours or speculations, hence we would not like to comment on this," said an Axis Bank official. Kotak did not reply to ET's queries. Under the proposed transaction, Suzuki Motor plans to set up the Gujarat project as part of its whollyowned subsidiary, Suzuki Motor Gujarat Pvt (SMG), which in turn will enter into an exclusive long-term contract manufacturing agreement with Maruti Suzuki. 
 
The contract manufacturing agreement would initially be for 15 years and will be automatically extended for a further 15 unless the parties mutually agree to terminate it. 
 
Maruti Suzuki said this would allow it to save on the investment required for setting up the plant to the extent of the equity investment made by Suzuki Motor in SMG. However, the fund managers said Maruti Suzuki is a debt-free company with cash and investments worth Rs 8,000 crore, which earns less than 10% annually, compared with the 20% return on equity. 
 
"Why should idle money not be invested in equity with clear visibility of business," said a fund manager. Maruti Suzuki is confident of gaining the support of stakeholders. "We believe that the financial benefits to minority shareholders are so obvious and large, that the vote would support the proposed structure," the spokesperson said.

Maruti Hires Investment Bankers To Help It Win Investors Nod For Suzuki Plan

Coimbatore, June 17 (): Karur Vysya Bank (KVB) has entered into an arrangement with Maruti Suzuki to fund buyers of Maruti vehicles. Both existing and new customers would be eligible to avail themselves of loans from KVB. The bank is offering a special product for buyers of Maruti Suzuki vehicles under which 100 per cent on-road finance with a six-month holiday period is provided at attractive interest rate, except on Omni and EECO. The loans are available for salaried and the self- employed. Easy availability of finance is a key driver during these times and this partnership with Maruti Suzuki is a way to offer consumers convenience and cost-effectiveness at the same time, the bank's president and COO J Natarajan said in a press release. Karur Vysya Bank offers customers in-principle loan sanction in 15 minutes and the existing customers of the bank can get their loans disbursed the same day. The entire process from application to disbursement of the loan is digitalized with no manual intervention, Natarajan said. About 80 per cent of the new cars are typically financed via banks in the country. In the current situation of fighting COVID-19 pandemic challenges, such customised finance solutions would help boost customer sentiment, he said. "Our association with Karur Vysya Bank is another positive step towards providing our customers financial flexibility and ease of owning a new car," Maruti Suzuki India's executive director (Marketing and Sales) Shashank Srivastava said in the release. "We are happy that this customer-focused partnership will pave the way for greater access to financing options and peace of mind to our customers," Srivastava said. NVM NVG NVG

Karur Vysya Bank, Maruti Suzuki tie up to offer car loan

<ul><li><keyword id="6602160" type="UNKNOWN" weightage="20" keywordseo="ola-electric-mobility">Ola Electric Mobility</keyword> has raised series A round of funding from <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>. </li><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> Electric had raised ₹400 crores from Ola’s existing and early investors Tiger Global and Matrix India.</li><li>The investment will help Ola achieve its plan to bring 1 million Electric Vehicles on Indian roads by 2021. </li></ul>Ola Electric Mobility has raised an undisclosed amount from Ratan Tata in a series A round of funding. Ola Electric is a subsidiary of ANI Technologies Pvt Ltd, which is Ola’s parent company. Two months earlier in March 2019, Ola Electric had raised ₹400 crores from Ola’s existing and early investors Tiger Global and Matrix India. Tata is also an existing investor in Ola. “The <keyword id="381751" type="ORGANIZATION" weightage="20" keywordseo="Electric-vehicle">electric vehicle</keyword> ecosystem is evolving dramatically every day, and I believe Ola Electric will play a key role in its growth and development. I have always admired the vision of <keyword id="1543567" type="COMPANY" weightage="20" keywordseo="Bhavish-Aggarwal">Bhavish Aggarwal</keyword> and I’m confident that this will be part of yet another important strategic move into this new business area,” said Ratan Tata, Chairman Emeritus of Tata Sons. Interestingly, Tata Group’s Tata Motors is also an early adopter of electric vehicles with its Tata Tigor EVs. The investment will further help Ola achieve its plan to bring 1 million Electric Vehicles on Indian roads by 2021. In an official statement, the company said that Tata’s investment is a significant endorsement of the company’s approach to developing an electric mobility ecosystem, including innovations in charging infrastructure, swapping models, and market-appropriate products. Ola Electric is currently running several pilots involving charging solutions, battery swapping stations, and deploying vehicles across two, three and four-wheeler segments. The Electric Vehicle industry has been heating up in India with large automakers like Maruti Suzuki, Mahindra and Mahindra and Tata Motors marking their entry in the segment. Maruti Suzuki has also <a href="https://www.thehindu.com/business/Industry/steering-away-from-diesel/article27035520.ece">announced</a> that it will be phasing out its diesel vehicles by 2020, which could possibly lead to the company producing more EVs. See Also: <a href="https://www.businessinsider.in/ola-takes-on-mahindra-glyd-with-fresh-funds-wheres-uber/articleshow/68214440.cms">Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?</a> <a href="https://www.businessinsider.in/ola-report-indias-ev-mission-needs-two-wheelers-three-wheelers/articleshow/69035515.cms">India's EV mission will be incomplete without two wheelers and tuk tuks but not without a few speed bumps</a>

Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount

New Delhi, May 22 () The country's largest carmaker Maruti Suzuki India on Friday announced partnership with Cholamandalam Investment &amp; Finance Company Ltd to provide customised auto retail financing solutions to retail buyers. The new solution 'Buy-Now-Pay-Later Offer' is aimed to provide customers with easy financing options, Maruti Suzuki India (MSI) said in a statement. Under the partnership, the companies are also offering a two-month deferment of Equated Monthly Installment (EMI) to car customers who currently are under resource crunch amidst the COVID-19 pandemic, it added. The new solution will allow customers to start paying the EMIs after 60 days of loan disbursement. The offer is available on select Maruti Suzuki models and will be applicable on loan disbursement till June 30, 2020, it added. Commenting on the partnership, MSI Executive Director (Marketing &amp; Sales) Shashank Srivastava said, "it is aimed to offer comfort to buyers who may have faced liquidity crunch during the COVID-19 lockdown. I am sure that the "Buy-Now-Pay-Later Offer" will encourage customers towards car purchase without putting immediate extra pressure on their pockets." Cholamandalam Investment &amp; Finance Co Ltd Executive Director Ravindra Kundu said the synergies between the organisations are aimed towards singular focus to bring benefits to customers. "This partnership will give us a strong foothold in the car financing space, with our 1,094 branches spread across semi urban and rural markets," he added. Through the partnership, customers can also avail higher loan to value, up to 90 per cent of on-road funding and opt for longer repayment tenure. With Maruti Suzuki's vast network of 3,086 new car retail outlets across 1,964 cities and towns and Cholamandalam Investment &amp; Finance Company's extensive branch presence across the country, the offer is expected to benefit many customers, the statement added. RKL DRR DRR

Maruti Suzuki ties up with Cholamandalam Investment & Finance; launches 'Buy-Now-Pay-Later Offer'

New Delhi, Jun 17 () Car market leader Maruti Suzuki India (MSI) on Wednesday said it has partnered with Karur Vysya Bank to offer simpler and flexible financing schemes for new customers. Through the partnership with the bank, the company is seeking to offer prospective buyers special scheme of up to 100 per cent on road funding with six months holiday period on all models, except van EECO), loans for both salaried and self-employed customers and repayment period up to 84 months, Maruti Suzuki India said in a statement. Apart from "attractive rates of interest", the partnership will offer loans to customers with non-income proof as well, it added. MSI Executive Director (Marketing and Sales) Shashank Srivastava said, to move forward in a changing business environment, the company must take action, combining customer-centered finance products with wide range of options to choose from. "Our association with Karur Vysya Bank is another positive step towards providing our customers financial flexibility and ease of owning a new car," he stated. He further said in the light of the current situation of fighting COVID-19 pandemic challenges, the attractive products like EMI holiday period will provide the required financial solution to the customers. Karur Vysya Bank President and COO J Natarajan said easy availability of finance is a key driver during these times. "This partnership with Maruti Suzuki is an important way to offer consumers convenience and cost-effectiveness at the same time," Natarajan said. Karur Vysya Bank offers customers in-principle loan sanction in 15 minutes and existing customer of the bank can get their loans disbursed on the same day with the entire process from application to disbursement of the loan being digitalised with no manual intervention. The schemes through the partnership will be available across Maruti Suzuki's network of 3,086 new car retail outlets across 1,964 cities and towns, along with with 780 branches of Karur Vysya Bank across 22 states across India. RKL ANS ANS

Maruti partners with Karur Vysya Bank for flexible financing schemes

New Delhi, May 28 () The country's largest car maker Maruti Suzuki India on Thursday said it has partnered with HDFC Bank Ltd to offer flexible finance schemes for new car buyers. The schemes include flexi equated monthly installment (EMI) options under which a customer can avail low EMI for three months every year, up to 100 per cent on-road funding and installments starting from Rs 899 per month, per lakh, for the first six months, Maruti Suzuki India (MSI) said in a statement. Commenting on the partnership, MSI Executive Director Marketing and Sales Shashank Srivastava said, "this is an advantage to buyers who may face resource crunch amidst the COVID-19 lockdown." He further said, "new car buyers can select from a host of schemes that will offer low down payment options and low EMIs. This would particularly help customers in the entry level segments." In addition, digital disbursement makes it more convenient for customers in current times, Srivastava added. HDFC Bank Country Head for Retail Assets Arvind Kapil said the partnership would provide customized offerings to customers particularly during the ongoing COVID-19 pandemic. "These are challenging times for the country and we believe it's the collective responsibility of all stakeholders to provide flexible offerings to customers," he added. In view of the current social distancing norms and the need to reduce physical documentation, HDFC Bank would also be offering Maruti Suzuki customers the option of a post-approval digital disbursement, the statement said. RKL DRR DRR

Maruti Suzuki India partners with HDFC Bank to offer flexible car finance schemes

New Delhi, May 2 () Maruti Suzuki India on Saturday said its car seat manufacturing joint venture, Krishna Maruti Ltd, has handed over the first batch of 5 lakh units of triple-ply face masks to Gujarat administration at Gandhinagar. Krishna Maruti, the joint venture between Maruti Suzuki and Krishna Group, had committed to donating 10 lakh triple-ply masks to Gujarat government. The mask was developed by engineers of Maruti Suzuki and Krishna Group with almost hourly monitoring by Maruti Suzuki management and active support by Department of Textiles, Government of India and was finally approved by SITRA laboratory. Speaking on the initiative, Krishna Group Chairman Ashok Kapur said, "We have committed 1 million masks each to Haryana and Gujarat governments." "I am also planning to import some machines and produce N-95 masks. All important safety and physical distancing guidelines were observed while manufacturing these masks at our facilities to ensure the safety of all the staff."Krishna group has its manufacturing plant next to Suzuki Motor Gujarat (SMG) plant at Hansalpur. SMG, which is a subsidiary of a Suzuki Motor Corp, manufactures cars on a contract basis for Maruti Suzuki India Ltd. RKL MRMR

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Maruti Suzuki invests in machine learning, artificial intelligence startup Amlgo Labs

ANI

Maruti Suzuki partners with IIM Bangalore to incubate mobility startups

IANS

Maruti Hires Investment Bankers To Help It Win Investors Nod For Suzuki Plan

Times Of India

Karur Vysya Bank, Maruti Suzuki tie up to offer car loan

PTI

Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount

Sanchita Dash

Maruti Suzuki ties up with Cholamandalam Investment & Finance; launches 'Buy-Now-Pay-Later Offer'

PTI

Maruti partners with Karur Vysya Bank for flexible financing schemes

PTI

Maruti Suzuki India partners with HDFC Bank to offer flexible car finance schemes

PTI

Maruti Suzuki India JV hands over 5 lakh face masks to Guj govt

PTI

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