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<ul><li>A total of 75 component makers have been approved by the government for incentives under the auto component PLI scheme.</li><li>Maruti Suzuki, Hero MotoCorp, Toyota, Motherson Sumi are among companies that have been approved for the scheme.</li><li>Auto company shares were among the outliers performing well in the weak market on Tuesday.</li></ul>About 75 auto component makers have been approved by the government for incentive under the production linked incentive (PLI) scheme. Maruti Suzuki, Hero MotoCorp, Toyota, Motherson Sumi, Bosch, Mitsubishi Electric and Tata Autocomp are among the list of companies that have been approved for the scheme. PLI is a form of incentive from one entity to another, such as from the government to industries. It provides incentives to domestic industries to boost local production. The auto PLI scheme is aimed at giving a push to advanced automotive technologies and manufacturing of electric vehicles in India. The government said that the PLI scheme for the auto sector envisages to overcome the cost disabilities of the industry for manufacture of advanced automotive technology products in India. The incentive structure will encourage industry to make fresh investments for indigenous global supply chains of advanced automotive technology products. Reportedly over 100 companies had applied for the PLI scheme. A report by CNBC-TV18 said that incentives in the range of 8-13% would be given to companies that are making components for safety, flex fuels, compressed natural gas (CNG), liquefied natural gas (LNG), emission control, passenger convenience, fuel efficiency, and sensors, while a higher range of incentives — 13 to 18% would be given to companies making components for hydrogen and electric vehicles. While the market remained under pressure due to high inflation and geopolitical tensions, shares of automobile companies were trading higher on March 15. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Auto companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change as of 2:15 p.m. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+2.40% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ashok Leyland </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+2.24% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mahindra &amp; Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+2.20% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Balkrishna Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+1.66% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TVS Motor </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.31% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.24% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Forge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.31% </td></tr></tbody></table> What is Government PLI Scheme PLI is a form of incentive from one entity to another, such as from the government to industries. It provides incentives to domestic industries to boost local production. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/zerodha-founders-and-boats-aman-gupta-others-invest-150-million-in-licious/articleshow/90220096.cms">Zerodha founders, BoAt’s Aman Gupta and others invest $150 million in Licious</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/how-to-apply-for-latest-ruchi-soya-fpo/articleshow/90218887.cms">Ruchi Soya FPO – All you need to know about FPOs and how to apply</a>

Auto stocks turn outliers in a weak market as government approves 75 auto firms for PLI scheme

<ul><li>“In India, if you look at the <keyword id="409965" type="PERSON" weightage="20" keywordseo="Indian-auto-component-industry">Indian auto component industry</keyword>, there is no specific incentive you get to develop EVs,” said Arvind Goel, <keyword id="9477285" type="UNKNOWN" weightage="20" keywordseo="tata-autocomp-systems-chief">TATA AutoComp Systems chief</keyword>.</li><li>This came after Union minister <keyword id="26680" type="PERSON" weightage="20" keywordseo="Nitin-gadkari">Nitin Gadkari</keyword> last week said the country has the potential to become a major manufacturing hub for electric vehicles in the next five years.</li><li>China supplies key components for EVs, including Lithium-ion battery cells. Large parts of these imports from China (except alloy wheels) are sourced by vendors, whereas tyres are sold in the aftermarket, according to Motilal Oswal.</li><li>According to Goel, India can certainly become an EV leader without importing manufacturing parts from China, but for that, Indian original equipment manufacturers (OEM) need to look at the collaborative effort to localize everything.</li></ul>While India is propelling its plan to become a major electric vehicle market in the next 20 years some auto industry players think there isn’t enough support from the government for the EV making companies. “In India, if you look at the Indian auto component industry, there is no specific incentive you get to develop EVs,” said Arvind Goel Managing Director and CEO of TATA AutoComp Systems at ETAuto EV Conclave. “China started making EVs in 2007, and 2008 and the Chinese government saw to it that local investments were made and youth support and local R&amp;D benefits and so many benefits in terms of tax were given to local industries,” he added. Here’s what China did to promote EVs <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">China </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">India </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">China started the "863 EV Project" in 2001 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">India unveiled the 'National Electric Mobility Mission Plan 2020' in 2013 </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">As of 2019, China has invested $60 billion in subsidies and incentives for EVs. </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">India released a two-pronged strategy aimed at both buyers and manufacturers, in which it offers $1.4 billion in subsidies to buyers. </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The subsidy for EV customers is RMB 60,000 (₹6,40,000) for battery electric vehicles (BEV) and RMB 50,000 (₹533,000) for plug-in hybrid vehicles (PHEV). </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">India offers a purchase subsidy of ₹10,000 per kilowatt to which CEO's want to be extended to ₹15,000 per kilowatt. </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">China has over 1.2 million charging points as of 2019 and it plans to add another 600,000 charging points </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Charging infrastructure in India is at a nascent stage </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">China extended a 10% purchase tax exemption on EV sales until 2022. </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian government also lowered the GST rate on electric vehicles to 5% from the previous high of 12% </td></tr></tbody></table> Gadkari also revealed that the Centre is looking at initiating a pilot project for developing an electric highway on the upcoming Delhi-Mumbai green corridor. READ ALSO: <a href="https://www.businessinsider.in/business/auto/news/checkout-the-list-of-indian-startups-working-on-electric-vehicles-and-batteries/slidelist/76562429.cms" data-type="tilCustomLink">Here are the startups fuelling India’s electric vehicle dream</a> India’s EV industry wants more from the government But the industry wants more. “You have to start thinking about it for eight or ten years in advance. You can’t start in two years, decide to switch to EVs, and say that I want to localize. What happens then is you start importing the technology and components from outside. So everything has a timeline that requires support and regulatory push from the government,” he said. One of the pending demands from the EV makers is for a 50% rise in purchase subsidy to ₹15,000 per kilowatt. “The government and OEMs have to work together to reduce the cost by making in India and making it locally, even the batteries and cells. If it happens, we will win the race and become the largest EV market in the world," <keyword id="191133" type="PERSON" weightage="20" keywordseo="Sulajja-Firodia-Motwani">Sulajja Firodia Motwani</keyword>, founder and CEO of Kinetic Green, <a href="https://www.autocarpro.in/news-national/kinetic-green-sulajja-firodia-motwani-india-ev-story-remains-very-strong-and-we-can-convert-the-pains-into-gains-56536">earlier told AUTOCAR professionals</a>. Union minister Nitin Gadkari last week said the country has potential to become a major manufacturing hub for electric vehicles in the next five years and the Centre is trying to extend best possible concessions to this sector. The final assembly is just one part China is a key<a href="https://www.businessinsider.in/business/news/products-like-air-conditioners-cars-electric-vehicles-tv-and-even-medicines-are-highly-dependent-on-material-from-china/articleshow/76618654.cms"> supplier for sub-components used in an engine, electrical /electronics, alloy wheels, tyres</a>, etc. It supplies key components for EVs, including Li-ion battery cells. Large parts of these imports from China (except alloy wheels) are sourced by vendors, whereas tyres are sold in the aftermarket, according to Motilal Oswal. <div type="image" title="EV charing" msid="76669371" hostid="261" caption="&amp;lt;p&amp;gt;Hindustan Petrolium corporation limited Launch Electric vehicle Charging Station in 2017&amp;lt;/p&amp;gt;"></div> The other major barrier for EV adoption in India is the unavailability of public charging infrastructure (PCS). However, the government has plans to install charging infrastructure for EVs in 70 cities and 20% of highways by 2025. Collaboration is the way to being Atmanirbhar (self reliant) <keyword id="9210258" type="PERSON" weightage="20" keywordseo="atmanirbhar-bharat">Atmanirbhar Bharat</keyword> is the campaign, a series of reforms, declared by the Indian Prime Minister <a href="https://www.businessinsider.in/india/news/pm-narendra-modi-announces-a-20-lakh-crore-financial-stimulus-for-a-self-reliant-india/articleshow/75700217.cms">Narendra Modi to make India a self-reliant nation</a>. According to Goel, India can certainly become an EV leader without importing manufacturing parts from China, “but for that, Indian OEMs need to look at the collaborative effort to localize everything. You can’t put a factory requirement; the factory needs to be for an international market. For example, some capes (capital expenditure) is put by Mahindras and some by Tatas, and they utilize each other’s facility to reduce the total investments into space” Whereas <keyword id="32047" type="PERSON" weightage="20" keywordseo="Mahesh-Babu">Mahesh babu</keyword> CEO &amp; MD of Mahindra Electric thinks self-reliance has been misunderstood by other market players and asserted that India should go hand in hand with other countries. He said, “self-reliant is not about making it in India; I think it’s a misconception. In self-reliant, I believe you have to collaborate. We collaborate with European companies that help us in designing some of the hardware. We collaborate with American suppliers and some Chinese suppliers today, we are collaborating with Japanese and Korean suppliers. The collaboration has to be international.” SEE ALSO: <a href="https://www.businessinsider.in/india/news/india-needs-over-600000-buses-for-25-million-commuters-daily-to-follow-social-distancing-norms-in-times-of-coronavirus/articleshow/76417090.cms" data-type="tilCustomLink">India needs over 600,000 buses for 25 million commuters daily to follow social distancing norms, according to a study</a> <a href="https://www.businessinsider.in/business/corporates/news/pidilite-brands-fevicol-mseal-and-dr-fixit-make-over-3000-crore-a-year-in-revenue/articleshow/76623265.cms" data-type="tilCustomLink">Fevicol, MSeal, and Dr Fixit make over ₹3,000 crore a year in revenue — but that’s not enough for Pidilite to recover from COVID crisis</a>

What CEOs say India can learn from China to get more electric vehicles on the road

<ul><li>High vegetable inflation, driven by hardening onion prices, has kept food inflation at 8.66% in February.</li><li>With low reservoir levels in many states, food inflation in FY25 is expected to be driven by monsoons, say experts.</li><li>The RBI is focused on bringing inflation below 4% and might continue the status quo for a longer time now, believe experts. </li></ul>In February, retail inflation came in on expected lines at 5.09%. However, high vegetable inflation, driven by hardening onion prices has kept food inflation up at 8.66%. Experts now believe that the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI) which has been focussed on bringing inflation to 4%, will maintain the status quo in the upcoming credit policy. “We expect inflation to average 4.8% in FY25. Given that the RBI Governor has been highlighting the aim of getting inflation to 4% on a durable basis, the policy rates are likely to be kept on hold in the upcoming policy meeting, with no change in stance,” said <keyword id="20938330" type="General" weightage="20" keywordseo="rajni-sinha" source="keywords">Rajni Sinha</keyword>, chief economist, CareEdge Ratings. Regulator to continue cautious stance Despite expectations from the market, the RBI has maintained its ‘withdrawal of accommodation’ stance in the last policy meeting in February. This policy, aiming to curtail inflation further, entails a reduction of easy money supply in the system, which started during the initial COVID-19 phase. RBI governor <keyword id="19913110" type="General" weightage="20" keywordseo="shaktikanta-das" source="keywords">Shaktikanta Das</keyword> had also earlier spoken about the risk of food inflation spilling into broader inflation. “We retain our view that RBI will remain cautious on volatile food inflation trajectory and hence prefer to remain in pause mode on rates till August policy. However, with RBI already having continuously fine-tuning liquidity and easing overnight rates closer to the repo rate, we see room for a shift in stance in the June policy,” said <keyword id="20169699" type="General" weightage="20" keywordseo="upasna-bhardwaj" source="keywords">Upasna Bhardwaj</keyword>, chief economist at <keyword id="19938495" type="General" weightage="20" keywordseo="kotak-mahindra-bank" source="keywords">Kotak Mahindra Bank</keyword>. Agrees Akhil Mittal, Senior Fund Manager-Fixed Income, <keyword id="20929846" type="General" weightage="20" keywordseo="tata-asset-management" source="keywords">Tata Asset Management</keyword>, “We anticipate the regulator to maintain a cautious stance. We think RBI would rather continue with stability priority and continue maintaining the 4% inflation target as sacrosanct, and hence we do not see a premature easing from RBI.” Vegetable inflation zooms, pulses in a tough zone Vegetable inflation came in high at 30.3% in February, and experts believe that pricey onions will keep food inflation elevated. Inflation in pulses, spices and eggs also saw double-digit inflation. Edible oils and fats have brought down inflation to an extent with negative growth. The food basket has nearly 50% weightage in the consumer price inflation (CPI) data. “Inflation is purely a food inflation-driven phenomenon which will continue to pressurise inflation in the coming months. Besides, horticulture output this year is expected to be lower than last year. Cereals, eggs, sugar, spices and pulses are the other pain points here,” comments <keyword id="20102121" type="General" weightage="20" keywordseo="madan-sabnavis" source="keywords">Madan Sabnavis</keyword>, chief economist at Bank of Baroda. The outlook for food prices is also bleak with lower reservoir levels and their impact on agricultural output. “The ongoing high inflation in specific food categories, including cereals, pulses, spices, and vegetables pose a risk of potentially broadening price pressures and de-anchoring inflationary expectations. Reservoir levels, particularly in eastern and southern India, persist at lower levels. Consequently, the forthcoming monsoon in FY25 holds significant importance for the trajectory of food inflation,” said Sinha. Core inflation has however remained soft, staying below the 4% threshold for three consecutive months. Rural inflation came in higher at 5.3%, while urban inflation is at 4.8% — mostly due to higher weightage of food products in the former index. Twelve of India’s 22 states saw inflation of above 5.1%. Odisha had the highest at 7.6%, while Delhi saw the lowest at 5.3%.

RBI likely to maintain status quo after food inflation keeps Feb print high, say experts

<ul><li><keyword id="6370462" type="General" weightage="80" keywordseo="tata-communications" source="Orion">Tata Communications</keyword> has partnered with <keyword id="1378541" type="General" weightage="100" keywordseo="formula-e" source="Orion">Formula E</keyword> to become the official broadcast distributor of the <keyword id="15434750" type="General" weightage="50" keywordseo="formula-e-world-championship" source="Orion">Formula E World Championship</keyword>.</li><li>The two companies have announced a multi-year strategic partnership.</li><li>The company has adopted a remote broadcast model aimed at reducing the environmental impact of sports broadcasting.</li></ul>Formula-E has signed a multi-year strategic partnership with Indian telecommunications giant Tata Communications to become the official broadcast distributor to the ABB FIA Formula E World Championship. As part of the agreement, Tata Communications will deliver high-definition and high-speed live broadcast to viewers across the world as part of Formula E’s new remote broadcast production. The aim of this is to reduce the environmental impact of sports broadcasting while also reducing the cost. Tata Communications was responsible for the broadcast at the 2023 Greenko E-Prix held in Hyderabad, the first Formula E race in India. "There are 85 cameras capturing the event for over 400 million people watching all over the world. To be able to facilitate that truly speaks about the power of internet that we have been able to leverage, with our dedicated media cloud and edge computing capabilities. And apart from our long-standing partnership with FIA, we extend the services to multiple major sporting leagues across the world,” said <keyword id="7935940" type="General" weightage="50" keywordseo="as-lakshminarayanan" source="Orion">AS Lakshminarayanan</keyword>, chief executive officer, Tata Communications. <cmsannotation type="cmsannotation" annotationid="Remote broadcasting" comment="subhead" text="Remote broadcasting">Remote broadcasting</cmsannotation> As part of the remote broadcasting setup, Tata Communications will deliver more than 160 live video and audio signals from Formula E races across continents using 26 media edge locations across North America, Europe and Asia. <keyword id="3287500" type="General" weightage="50" keywordseo="jamie-reigle" source="Orion">Jamie Reigle</keyword>, chief executive officer, Formula E said the partnership with Tata Communications has helped reduce the cost by 30 to 40% and the central broadcast hub in London has helped in reducing emissions. "Formula E is an intense tour given its on-the-go nature. Tata Communications' support over the years has enabled state-of-the-art remote production possible, with real-time TV signal transmissions from the race venues to our broadcast centre in London and finally to the audience's screens. Thus, bringing down multiple logistical challenges, driving cost efficiencies, travel flexibilities for our employee, especially women, and reducing emissions," said Reigle <keyword id="16475951" type="General" weightage="50" keywordseo="eric-ernst" source="Orion">Eric Ernst</keyword>, the technology director at Formula E told Business Insider India that the new broadcast system that depends on public internet lines instead of leased lines has helped reduce the cost by around 40%. The company’s plug-and-play setup has also made logistics easier as there is a huge reduction in the setup size and the people required to operate. “We have 50% less freight and people, which has played a big role in reducing the logistics cost,” said Ernst. The company employs 49 people at its London centre and has an entourage of 51 people that travel along with the equipment to the race track. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/ola-s1-pro-move-os-3-review-proximity-unlock-calling-support-hypercharging-support-and-more/articleshow/97806031.cms">Ola S1 Pro Move OS 3 review – proximity unlock, calling support, hypercharging support, and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-13-pro-with-leica-powered-camera-to-launch-in-india-on-february-26-heres-how-its-camera-was-made/articleshow/97765165.cms">Xiaomi 13 Pro with Leica-powered camera to launch in India on February 26 — here’s how its camera was made</a> <a href="https://www.businessinsider.in/tech/news/twitter-blue-launched-in-india-pricing-what-it-offers-and-should-you-subscribe/articleshow/97756303.cms">Twitter Blue launched in India – pricing, what it offers, and should you subscribe?</a>

Formula E partners with Tata Communications to reduce environmental impact of broadcasting

<ul><li>As a part of the tie-up, MSMEs who are <keyword id="45008" type="General" weightage="100" keywordseo="tata-power" source="Orion">Tata Power</keyword> customers can avail loans up to ₹8 crore, with nil or minimum collateral. </li><li>The scheme requires a minimum down payment of only 15-20% of project cost, says <keyword id="51925" type="General" weightage="80" keywordseo="union-bank" source="Orion">Union Bank</keyword>. </li><li>This tie-up is a part of <keyword id="72269" type="General" weightage="50" keywordseo="ubi" source="Orion">UBI</keyword>’s solar scheme called <keyword id="15535191" type="General" weightage="50" keywordseo="union-solar" source="Orion">Union Solar</keyword>.</li></ul>Indian public sector bank <keyword id="63524" type="General" weightage="50" keywordseo="union-bank-of-india" source="Orion">Union Bank of India</keyword> has tied up with <keyword id="12146018" type="General" weightage="50" keywordseo="tata-power-solar" source="Orion">Tata Power Solar</keyword> Systems, a subsidiary of Tata Power Renewable Energy, to help the micro, small and medium enterprises (MSME) set up rooftop mounted solar units through a term loan. MSME industries who are Tata Power customers can avail loans up to ₹8 crore with nil or minimum collateral. The objective of this collaboration is to improve access to green energy, and help MSMEs save on electricity costs. “The scheme also requires a minimum down payment of only 15-20% of project cost thus making it very attractive for MSMEs,” informs Union Bank. This is a part of the bank’s solar scheme called 'Union Solar' which was launched at a pan-India level, to relieve the MSMEs from the stress of higher power costs and grid exigencies. “We are happy to associate with Tata Power in our efforts to help small businesses improve their access to green energy through the solar solution that is reliable, affordable and self-paying in the long run. We expect to see an impressive growth in the use of solar power in the MSME sector that will also make them more competitive in the domestic and international markets,” C M Minocha, chief general manager, Union Bank of <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> said. MSMEs can avail the dual services of Solar EPC by Tata Power Solar, financed through term loan facility by Union Bank of India. "In the last few years, the Indian MSME industry is experiencing a behavioural shift towards green energy solutions. We are committed to make TPREL a one-stop solution for the solar rooftop industry,” said <keyword id="14983947" type="General" weightage="50" keywordseo="shivram-bikkina" source="Orion">Shivram Bikkina</keyword>, chief- rooftop, Tata Power Renewable Energy. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/paytm-shares-tank-over-9-as-4-5-of-its-equity-changes-hands/articleshow/95574534.cms">Paytm shares tank over 9% as 4.5% of its equity changes hands</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/pakistans-default-risk-soars-amid-political-turmoil-says-a-dawn-news-report/articleshow/95574205.cms">Pakistan's default risk soars amid political turmoil says a Dawn news report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/mumbai-based-ev-startup-launched-a-two-seater-electric-car-with-no-front-passenger-seat/slidelist/95572118.cms">Mumbai-based EV startup launched a two-seater electric car with no front passenger seat</a>

Union Bank, Tata Power Renewable join hands to help MSMEs switch to solar

<ul><li>Sensex dropped nearly 115 points in early trade on Thursday. </li><li>Weak rupee and persistent foreign capital outflows impacted domestic equity market sentiments, traders said. </li><li><keyword id="6912" type="General" weightage="100" keywordseo="maruti" source="Orion">Maruti</keyword> was the top loser in the Sensex pack, shedding 1.31%, followed by <keyword id="42747" type="General" weightage="80" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>, <keyword id="85462" type="General" weightage="80" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword>, SBI, Bharti Airtel, <keyword id="6407278" type="General" weightage="50" keywordseo="kotak-bank" source="Orion">Kotak Bank</keyword>, Axis Bank and Reliance Industries.</li></ul>Mumbai, Equity benchmark Sensex dropped nearly 115 points in early trade on Thursday tracking losses in index heavyweights Maruti, Tata Motors and Reliance industries amid mixed global cues. Besides, a weak rupee against major rivals and persistent foreign capital outflows impacted domestic equity market sentiments, traders said. In a volatile trade, the 30-share BSE index was trading 113.77 points or 0.19 per cent lower at 60,550.02 in early deals. Similarly, the broader <keyword id="372424" type="General" weightage="50" keywordseo="nse-nifty" source="Orion">NSE Nifty</keyword> slipped 63.70 points or 0.36 per cent to 17,808. Maruti was the top loser in the Sensex pack, shedding 1.31 per cent, followed by Tata Motors, Bajaj Finserv, SBI, Bharti Airtel, Kotak Bank, Axis Bank and Reliance Industries. On the other hand, L&amp;T, <keyword id="111876" type="General" weightage="50" keywordseo="bajaj-finance" source="Orion">Bajaj Finance</keyword>, Infosys, PowerGrid and <keyword id="6357150" type="General" weightage="50" keywordseo="tcs" source="Orion">TCS</keyword> were the major gainers. Meanwhile, shares of Adani Power fell 5 per cent to 172.90 apiece on BSE in early deals, after the company on Wednesday reported a 96 per cent decline in consolidated net profit at Rs 8.77 crore for the December quarter. Edible oil major Adani Wilmar Ltd edged lower by 1.79 per cent to 411.85 per scrip, despite the company reporting a 16 per cent increase in its consolidated profit to Rs 246.16 crore for the third quarter ended December 2022. <keyword id="6367820" type="General" weightage="80" keywordseo="adani-group" source="Orion">Adani Group</keyword>'s flagship Adani Enterprises was trading 5.56 per cent down at Rs 2038.55 apiece on BSE. According to the RBI, domestic banks' exposure to the Adani Group is "not very significant", and the system is strong and large enough to not get impacted by a single case. Meanwhile, France's TotalEnergies has put on hold a planned investment in Adani Group's USD 50 billion hydrogen project pending results of an audit launched following allegations by a US short-seller, chief executive Patrick Pouyanne said on Wednesday. On Wednesday, the 30-share BSE Sensex rose by 377.75 points or 0.63 per cent to close at 60,663.79 and the broader Nifty of the NSE spurted by 150.20 points or 0.85 per cent to settle at 17,871.70, after the Reserve Bank of India (RBI) hiked the repo rate by 25 basis points. Elsewhere in Asia, bourses in Hong Kong, Shanghai and Seoul were trading with gains in mid-session deals while the Tokyo market closed in the negative territory. Equities on Wall Street ended significantly lower in the overnight trade. Meanwhile, the international oil benchmark Brent slipped 0.11 per cent to USD 85 per barrel. Foreign Institutional Investors (FIIs) were net sellers in capital markets as they offloaded shares worth Rs 736.82 crore on Wednesday, according to exchange data. RBI projected India's economic growth at 6.4 per cent for 2023-24, broadly in line with the estimate of the Economic Survey tabled in Parliament last week. It also estimated retail inflation to ease to 5.3 per cent in the next fiscal from 6.5 per cent this year on assumptions of lower imported inflation, even though core inflation remains sticky. The RBI's decision to hike the repo rate by 25 basis points was on expected lines but the policy focuses more on inflation despite the recent moderation in the number, bankers said on Wednesday. Analysts are of the view that after delivering the seventh hawkish policy on Wednesday, the central bank may pause after delivering a likely 25 basis points increase in the April review.

Sensex drops 115 points in early trade tracking losses in RIL, Maruti, & Tata Motors

The manufacturing sector has undergone a paradigm shift in recent years and COVID-19 has further accelerated the pace of change. Players globally have been adapting to new ways of functioning with a result-driven transformation agenda at the core. <keyword id="50691" type="General" weightage="80" keywordseo="digital" source="Orion">Digital</keyword> technologies have been instrumental in driving this transition. The industry 4.0 wave has coerced almost all players in the industry to adopt automation and digital technologies, but maturity levels vary. Organisations at the forefront of digital adoption have certainly seen better results. And so, digital transformation is top of the agenda for practitioners in the manufacturing sector now to tackle growing competition, reduce costs and improve efficiencies. What’s equally crucial for manufacturing sector leaders – to ensure that they meet critical business goals – is to build the talent pipeline to service this transformation and innovate for the future. For an industry like manufacturing, which often carries the weight of legacy approaches and systems, this is an ambitious task. Purpose-driven digital manufacturing The industry has come a long way to adopt connected, data-driven manufacturing that has undergone a metamorphosis - from shop floor to top floor. Subsequently, the demands placed on manufacturing sector leaders are increasingly challenging today. Almost all of them are looking at transformation holistically. “Digital in manufacturing must address all three stakeholders – customers, communities, and employees and how to make things better for them. Modernising legacy systems, processes, and technologies and integrating them with new systems are all key priorities that contribute to the transformation,” says R Nanda, Chief of Human Resources &amp; CSR at Tata Chemicals. The manufacturing sector is witnessing the emergence of several trends that were once unfamiliar to the industry. These include: <ol><li>The need for hyper-personalisation and the right experience delivery across all touchpoints to customers</li><li>Remote operations &amp; data-driven processes through automation</li><li>Digitally driven smart products that are helping players rethink their entire business models</li></ol>This presents leaders with a great opportunity. <keyword id="13003481" type="General" weightage="50" keywordseo="dulles-krishnan" source="Orion">Dulles Krishnan</keyword>, MD, Coursera Enterprise, India &amp; ANZ, says, “The potential for automation in the manufacturing sector is 1.3x higher as compared to other industries, this means that the sector is ripe for innovation. At the same time, some of these trends are driving a pressing need in the industry for a massive skill transformation. Smart customers and smart products are demanding digital-ready, tech-savvy employees in manufacturing companies.” Building the skill for future-ready manufacturing Manufacturing sector today recognizes the need for comprehensive upskilling, cross-skilling and reskilling initiatives that are designed to drive a systemic change. In addition to the foundational skills that employees in the sector possess, new skills around automation &amp; analytics, connectivity and advanced manufacturing are driving competitive advantage for companies. Several companies are offering formalised courses and certification programs to employees to acquire new skills and apply it in their everyday work life. Cross- skilling, for example, a key focus area. Domain experts are now trained in data science so that they can leverage data for better business outcomes, whereas IT teams are encouraged to develop ‘design thinking’. ‘Digital champions’ with matured digital awareness are moulded across functions. One of the popular strategies among companies is reverse mentoring, where the digital-savvy millennials collaborate with senior employees to bridge the digital skills gap. According to <keyword id="147387" type="General" weightage="50" keywordseo="jayanta-banerjee" source="Orion">Jayanta Banerjee</keyword>, Group CIO of <keyword id="6357147" type="General" weightage="50" keywordseo="tata-steel" source="Orion">Tata Steel</keyword>, training the employees is no more a choice but a necessity for manufacturing organisations. “The success of a digital transformation program is measured in terms of how the users or employees are using it in their daily business, every time. Adoption is a big challenge as there is a great digital divide within organisations.” Promises of reskilling &amp; upskilling As <keyword id="2585720" type="General" weightage="50" keywordseo="vineet-jaiswal" source="Orion">Vineet Jaiswal</keyword>, Deputy CEO – Center of Excellence, Vedanta, rightly summarised, learning is not a sprint but a marathon. “Continuous learning is essential to prepare the workforce to be nimble, fail fast and innovate. I think a holistic cultural change is the biggest RoI one can drive from a successful training/reskilling program.” As workforces prepare themselves for a future full of frequent changes, Coursera highlights some skills that will be the most sought-after in the manufacturing industry: Top digital skills: Product design, Graphics, UX design, Statistical visualisation, Cloud Computing Top human skills: Professional development, Storytelling, Public Relations, Negotiation, Change management Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

Why manufacturers must embrace skills transformation to be future-ready

<ul><li>Experts expect the <keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword> to deliver a couple of more 50 bps rate hikes during the course of this fiscal year.</li><li><keyword id="22195" type="General" weightage="20" keywordseo="inflation" source="Orion">Inflation</keyword> continues to trend above the RBI’s comfort level with its year-end target at 6%. </li><li>As real interest rates continue to be below inflation levels, RBI will be forced to hike repo rate further from the current 5.4%.</li></ul> The <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> delivered yet another rate hike of 50 basis points (100 basis points equal to 1 percentage point), but it is nowhere near done. Given that inflation continues to above the central bank’s targeted upper tolerance band of 6%, rate hikes are expected to be front-loaded. Clearly, 50 basis point rate hikes are the new normal. While this is good news for depositors, who will earn more from fixed income instruments, borrowers will, unfortunately, pay more. Economists and fixed income experts at mutual fund houses expect the RBI to deliver a couple of more 50 bps rate hikes during the course of this fiscal year. Why are interest rates negative? The central bank has been battling a Black Swan events like the Russian invasion of Ukraine and its consequent impact on prices of products ranging from base metals, crude oil to edible oil. While prices of several commodities have cooled down, given that real interest rates continue to be negative, the central bank will continue to increase rates to suck out liquidity from the system to curb prices. Interest rates are considered to be negative when inflation is higher than interest rates, which means that your money is losing value when you keep money in banks as deposits. Interest rates are positive when the benchmark interest rates are higher than inflation. The central bank during the pandemic cut interest rates by 115 basis points, with the key repo rate dropping to 4%. This made loans significantly cheaper for borrowers till the middle of this year. But this cycle is now set to turn, making loans of all kinds more expensive. According to <keyword id="130246" type="General" weightage="50" keywordseo="abheek-barua" source="Orion">Abheek Barua</keyword>, chief economist and executive VP at HDFC Bank, “We expect the RBI to continue with its rate hikes in the upcoming policies taking rates up to 5.75% by the end of the year.” Given that repo rate is at 5.4% and inflation estimate is at 6.7%, the RBI will have to deliver several more rate hikes to take the policy rates even to neutral territory if not positive. Akhil Mittal, senior fund manager-fixed income, <keyword id="128170" type="General" weightage="50" keywordseo="tata-mutual-fund" source="Orion">Tata Mutual Fund</keyword>, is of the view that RBI has taken inflation head-on by raising rates by 50 basis points. “The endeavour to get real rates in positive territory, as mentioned earlier by RBI, gets closer with this move and we expect another 50-bps rate hike by MPC over next couple of MPC meetings before the pause,” he says. <keyword id="42546" type="General" weightage="20" keywordseo="growth" source="Orion">Growth</keyword>, not <keyword id="6357558" type="General" weightage="20" keywordseo="recession" source="Orion">recession</keyword> like other economies Typically when interest cycle turns, growth often comes under pressure as higher prices tend to dent demand and higher inflation expectations prevent companies from undertaking capital expenditure. But in this cycle, the RBI does not expect growth to be impacted and has retained the GDP forecast at 7.2% for FY23. Says Nilesh Shah, group president and MD, Kotak Mahindra Asset Management Company, “The RBI’s hike of 50 bps in repo rate is front-loaded to ensure that easing inflation comes below RBIs upper band of 6% by the fourth quarter of FY23. Since growth is becoming broad-based and private capex is showing signs of revival, the RBI has front-loaded repo rate hike to control inflation. Interestingly, the RBI has kept the Indian economy flying high (7.2 % GDP growth in FY23) through turbulent weather. The RBI has clearly differentiated itself vis a vis many other central banks which are looking to hard land their economy (recession in FY23) to bring down inflation.” SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/globalized-inflation-is-threat-to-global-economy-itself-says-rbi-guv-das/articleshow/93366552.cms">Globalized inflation is a threat to global economy itself, says RBI guv Das</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/hdfc-seals-worlds-largest-social-loan-worth-1-1-billion-for-affordable-housing/articleshow/93366669.cms">HDFC seals world’s largest social loan worth $1.1 billion for affordable housing</a>

Shakti’s Gati on interest rate hikes to continue

<keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword> AutoComp Systems Limited (Tata AutoComp), a wholly owned subsidiary of Tata Group, has partnered with <keyword id="70434" type="COMPANY" weightage="20" keywordseo="Magna">Magna</keyword> International Inc to provide seating systems to the Indian commercial vehicle industry. The partnership is a 50:50 joint venture. 
	 
	“This partnership with Magna will expand our portfolio to now bring the latest in seating systems to the Indian commercial vehicle industry,” said Ajay Tandon, MD and CEO of Tata AutoComp. 
	 
	Commenting on the seating systems in the commercial vehicle industry which includes passenger buses, Arvind Goel, President and Chief of Operations and New Technology, Tata AutoComp added: “Seating systems in commercial vehicles have not yet evolved in India. With the rapid increase in infrastructure, we envisage more and more vehicles plying long distances. In such a scenario, the safety and comfort of both driver and passengers is paramount. Through this JV, we intend to address this increasing need of the industry.” 
	 
	Tata AutoComp provides products and services to both Indian and global Original Equipment Manufactures (OEMs). Currently the company has four joint ventures in partnership with leading companies in the auto component industry across the globe. The company has been entering into such joint ventures in order to facilitate manufacturing and marketing of automotive components and systems like engine cooling solutions, automotive batteries, rear view mirrors, command systems, HVAC and suspensions for heavy commercial vehicles. The company has 29 manufacturing facilities in the country as well as one in China. 
	 The new company will be headquartered in Pune and will supply seating systems to customers in India,. Currently, Tata's clients includes <keyword id="6357085" type="PERSON" weightage="20" keywordseo="Ashok-Leyland">Ashok Leyland</keyword> and <keyword id="80296" type="CITY" weightage="20" keywordseo="Eicher-Motors">Eicher Motors</keyword> among others. 
Image Credit: Indiatimes.com

Tata AutoComp And Magna To Cater To Commercial Vehicle Industry

<ul><li>Tata Motors-owned Jaguar Land Rover reported a second successive quarter-on-quarter recovery with retail sales growing 13% to 128,469 vehicles.</li><li>53% of JLR’s retail sales in the third quarter were from electric vehicles. </li><li><keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> said that EVs' contribution is ‘poised for further growth in 2021 and beyond.’</li><li>The share price of Tata Motors was trading nearly 12% higher at 11:00 am, nearing its 52-week high. </li><li>Check out the latest stories on <a href="https://www.businessinsider.in/">Business Insider</a>. </li></ul>Tata Motors-owned luxury carmaker Jaguar Land Rover recorded its second successive quarter-on-quarter recovery with retail sales growing 13% to 128,469 vehicles. Although the sales were down 23% compared to last year, sales in China remained strong. But the most significant part about the quarter was that over 50% of its retail sales came from electric vehicles (EV), which includes Land Rover Discovery Sport and the Range Rover Evoque. This brings the company's overall share of electric vehicles in its 2020 sales to 43.3%, and the management is upbeat on its future outlook. Tata Motors said that EVs' contribution is ‘poised for further growth in 2021 and beyond.’ This follows a <a href="https://www.businessinsider.in/business/auto/news/tata-motors-stock-surge-the-early-trading-hours-today-after-the-company-reported-a-21-increase-in-total-vehicle-sales/articleshow/80092876.cms">21% growth</a> in domestic sales in December for Tata Motors. Investors are cheering the improving sales, recovery in sentiment, and the company's optimistic outlook. The share price of Tata Motors rallied nearly 12%, trading near its 52-week high at 11:00 am. It has surged nearly 25% in two trading sessions. <div type="image" title="Copy of Tata Motors" msid="80228622" hostid="261"></div> In fact, the stock has gained nearly 83% in the past 3 months. Electric vehicles: the next growth driver After recently launching Jaguar XE, Jaguar XF, and Land Rover Discovery, the company is building further on its expansion plans in the EV segment. It remains committed to its electrification strategy and has a growing portfolio of electrified Jaguar and Land Rover vehicles — extending to 12 models across its portfolio. JLR also plans to continue with the rollout of its new range of 21 Model Year vehicles. Over the last few years, Tata Motors has channelised a significant part of its efforts towards the development of electric vehicles and the results are showing now. Suraj Ghosh, principal analyst at IHS Markit says that while Tata began its journey with the Tigor EV, it's the success of Nexon that made the difference. “The Nexon has hit a nice balance between affordability and parity with ICE-vehicles (internal combustion engine vehicles) as it demands only about 20% premium over its top-trim diesel automatic variant,” he told Business Insider. In fact, the Tata Nexon EV clocked 2,200 units in sales in just <a href="https://www.business-standard.com/article/pti-stories/tata-nexon-ev-crosses-2-000-sales-mark-120120300767_1.html#:~:text=Tata%20Motors%20on%20Thursday%20said,major%20said%20in%20a%20statement.">ten months</a> since its launch and is the best-selling electric car in India. And after the considerable success of its Tata Nexon electric vehicle, the company has a slew of EV <a href="https://www.businessinsider.in/business/auto/news/checkout-the-new-electric-car-expected-to-launch-in-2021/slidelist/79584123.cms">launches lined up</a> for the year ahead — from Tata Altroz EV to Tata Tiago. Ghosh adds that what sets Tata Motors apart from its competitors in its efforts to build the EV business is its strategy to ‘leverage its group companies’ capabilities to build an ecosystem’ for its electric vehicles. Shailesh Chandra, President, Passenger Vehicle Business Unit, Tata Motors, <a href="https://www.thehindubusinessline.com/news/how-tata-made-nexon-ev-a-success-story/article33439138.ece">told The Hindu Business Line</a> that, “a smart strategy with a clear focus on breaking the key EV barriers and partnerships with group companies such as Tata Power, Tata Chemicals, Tata AutoComp Systems, and Tata Capital for establishing the EV ecosystem, has paid dividends for the company.” Tata Motors’ plans to boost its EV business in India The homegrown automaker is working towards building a range of affordable electric cars. A <a href="https://www.timesnownews.com/business-economy/companies/article/tata-motors-plans-to-launch-series-of-affordable-e-vehicles-shares-jump/706081">report suggests</a> that the company plans to price its green cars at not more than 15-20% premium to conventional petrol/diesel vehicles. Although the company is optimistic about EVs growth and contribution towards its revenue, the analysts remain cautious. According to Ghosh, while Tata Motors is showing high growth (albeit on a low base), it needs much higher volumes to become mainstream. “It’s undoubtedly a great proposition, but the inflexion point will arrive only when it achieves parity compared to its ICE-powered counterparts in terms of price, range, affordability and ease of use,” he added. Meanwhile, Tata Motors has clarified on the market rumours of a deal with Tesla to manufacture its electric vehicles in India. In a <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/f1d8fc97-355f-41d2-bc1e-1e0c37fe9135.pdf">statement to BSE</a>, the company denied any talks of collaboration and said that they have "not taken any decision regarding a strategic partner for its PV business." SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-says-your-privacy-wont-be-affected-if-you-dont-use-these-features/articleshow/80225748.cms" data-type="tilCustomLink">WhatsApp says your privacy won't be affected if you don't use these two optional features</a> <a href="https://www.businessinsider.in/business/news/amazon-writes-to-sebi-again-asking-it-to-suspend-review-of-the-future-retail-reliance-deal/articleshow/80225043.cms" data-type="tilCustomLink">Amazon writes to SEBI again, asking it to suspend review of the Future Retail-Reliance deal</a>

More than half of all cars sold by Tata Motors in the last three months were electric vehicles

<ul><li><keyword id="3704143" type="General" weightage="80" keywordseo="tork-motors" source="Orion">Tork Motors</keyword> is all set to introduce the <keyword id="1324936" type="General" weightage="100" keywordseo="kratos" source="Orion">Kratos</keyword> electric bike this month.</li><li>The company will host a virtual launch to reveal the bike.</li><li>The bike was earlier dubbed as Tork T6X.</li></ul>Tork Motors is all set to introduce its first electric bike, dubbed as Kratos at the end of this month. The bike, which was earlier named T6X will finally make its debut in the country. Tork Motors, which is a Pune based electric vehicle manufacturer which had received <a href="https://www.businessinsider.in/thelife/personalities/news/ratan-tata-investment-news-announcement/articleshow/71592210.cms">investment</a> from <keyword id="6360722" type="General" weightage="20" keywordseo="ratan-tata" source="Orion">Ratan Tata</keyword> in 2019. The company will host a virtual launch in the last week of January. Tork Motors has claimed that the Kratos has been developed after six years of research and development. The bike will be powered by the company’s LIION battery pack and an axial flux motor. The Kratos will come with the company’s Tork Intuitive Response Operating System (TIROS) that will offer detailed information to users about power consumption, technical analysis, ride information and range analysis. “It’s not only renamed as KRATOS but developed entirely as a brand-new motorcycle than T6X with notable redesigned frame and styling achieved by rigorous testing with internal and external teams,” said <keyword id="2154838" type="General" weightage="20" keywordseo="kapil-shelke" source="Orion">Kapil Shelke</keyword>, chief executive officer of Tork Motors. The bike will reportedly come with redesigned LED headlight, taillight and a new version of split seat for seating comfort to the city rides. In addition to this, the larger battery pack is claimed to offer better range and faster-charging ability. Customers will be able to book Kratos electric bike soon after the launch and the bikes will be delivered in the coming months. We should know more about Kratos, including its design in the coming days. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/electric-bus-maker-olectra-greentech-have-surged-540-in-the-last-12-months/articleshow/88685068.cms">Shares of this electric bus maker have surged 540% in the last 12 months</a> <a href="https://www.businessinsider.in/business/auto/news/best-upcoming-bikes-in-india-in-2022/slidelist/88611970.cms">Best upcoming bikes in India in 2022</a> <a href="https://www.businessinsider.in/business/auto/news/best-upcoming-electric-cars-in-india-in-2022/slidelist/88565231.cms#slideid=88565376">Best upcoming electric cars in India in 2022</a>

Tork Motors to launch its electric bike Kratos this month

<ul><li>Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> announced the <keyword id="10690208" type="UNKNOWN" weightage="20" keywordseo="national-hydrogen-mission">National Hydrogen Mission</keyword> during the <keyword id="10279586" type="UNKNOWN" weightage="20" keywordseo="Budget-2021-22">Budget 2021-22</keyword> on February 1.</li><li>According to Gateway House fellow Chaitanya Giri, the new initiative will benefit domestic companies like Reliance, Tatas, Mahindra &amp; Mahindra, and Indian Oil.</li><li>He proposes setting up a coalition with companies can help each other and also help India diversify its clean energy options.</li></ul>India is planning to capitalise on one of the most abundant elements on earth — <keyword id="169046" type="COMPANY" weightage="20" keywordseo="hydrogen">hydrogen</keyword>. Finance Minister Nirmala Sitharman announced the National Hydrogen Mission during the Budget 2021-22 to gain from this universally-available element. The green energy source could also bring together some of India’s biggest companies like Reliance, Tatas, Mahindras, and Indian Oil, according to Chaitanya Giri — a fellow of space and ocean studies with the Mumbai-based think tank Gateway House who wrote a paper on the <a href="https://www.gatewayhouse.in/wp-content/uploads/2019/10/Methane-Economy_FINAL.pdf">Methane Economy. </a> According to him, the need of the hour is a coalition of stakeholders like the Hydrogen Council or the European Hydrogen Coalition. “Companies like Indian Oil, the Tatas, the Mahindras, the Eicher — let them be a part of the coalition. Then speciality chemicals companies like Reliance can be also a part of it,” he told Business Insider in an exclusive interview. Why does India need a hydrogen coalition? The answer is simple — no one company nor an industry can pull this off alone. You need the auto sector, fuel companies, speciality chemicals and advanced materials companies to work together. To make hydrogen a feasible solution, India doesn’t need just fuel — it will need cars that can process it. It also needs fueling stations and technology to ensure it remains safe as Hydrogen is an explosive element by nature. Countries like Germany have already demonstrated that a coalition is an excellent way forward. It <a href="https://bioenergyinternational.com/research-development/germany-pledges-eur-300-million-for-green-hydrogen-research">aim</a>s to set up 400 hydrogen fueling stations by 2023. “They are using the Hydrogen Council to the best extent possible,” said Giri. India can also seek help from Norway, Sweden or New Zealand to create a blueprint of a system. But their projects have to be scaled to meet the size of India. The population of these countries are only one-fourth the size of urban cities in India — Norway has a population of 55 lakh whereas Mumbai has over two crore people. At best, their national-scale ideas can be replicated to Indian cities but can be useful initially. Giri believes that international players with technology to make hydrogen safe — like Air Products and Linde — are already here in India. “These companies will take up contracts for setting up gas infrastructure and storage devices alongside the highways. They will be crucial for dispensing infrastructure like gas fueling stations,” he said. How will India make Hydrogen? Currently, there are two approaches to collect hydrogen. One is the electrolysis of water. However, water is a scarce resource. The other is <keyword id="6354703" type="UNKNOWN" weightage="20" keywordseo="natural-gas">natural gas</keyword> which can be split into two parts Hydrogen and one part Carbon. The hydrogen can be used for fuel and the leftover carbon, once solidified, can be used to create speciality materials for sectors like space, aerospace, auto, shipbuilding, electronics and more. While these two approaches are already on the market, there is one more approach which is not yet business-ready — absorbing Methane directly from the air and then using scrubbers to convert that gas into hydrogen and carbon. Prototypes are already in the works in Europe, Saudi Arabia and the US. “We just need to implement them on-ground and commercialise these technologies in a way that you have a substantial quantity of fuel,” explained Giri. What will happen to lithium batteries and electric cars? Electric cars are currently the flavour of the season but the use of lithium batteries comes with a set of challenges. For one, most of the lithium batteries are imported and there are ‘range anxiety’ issues which hydrogen fuel can ease. Electric cars can go for around 200-250 kilometres before needing to recharge. Hydrogen cars will be able to go twice the distance if not more. That means less fueling stations and less stress for the drivers. Most importantly, there’s more hydrogen around than there is lithium in the world. “Lithium batteries will fall behind due to the sheer abundance of Hydrogen,” said Giri. Hydrogen, if done right, will be a good alternative for a conventional internal combustion engine. It can also help meet the massive energy needs of India’s exploding population. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/heres-why-indias-biggest-banking-stocks-went-nuts-today-and-what-they-missed/articleshow/80626013.cms">Here's why India's biggest banking stocks went nuts today — and what they missed</a> <a href="https://www.businessinsider.in/science/health/news/india-needs-a-regulator-for-private-hospitals-and-doctors-says-chief-economic-advisor/articleshow/80585394.cms">India needs a regulator for private hospitals and doctors, says Chief Economic Advisor</a> <a href="https://www.businessinsider.in/india/news/migrant-workers-to-get-minimum-wages-rental-homes-but-experts-unhappy-with-lack-of-mnrega-push/articleshow/80631215.cms">Migrant workers to get minimum wages, rental homes but experts unhappy with lack of MNREGA push</a>

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