Tag Archive for automotive

Jindal Stainless to witness record-breaking growth in automotive segment

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

The 58th Annual Convention will be organized in Delhi tomorrow by the Society of Indian Automobile Manufacturers (SIAM) focused on issues influencing Indian automotive industry’s competitiveness and its integration with the global economy. Speaking about the potential of stainless steel usage in the automotive industry, Head Sales, Jindal Stainless, Vijay Sharma said, “The Indian automobile sector is rising fast with an annual growth rate of 15% registered in FY18. Against this backdrop, Jindal Stainless registered an even stronger growth of 25% in this sector in the same financial year, by virtue of its continued investment in innovation and a focus on import substitution. The transformation of the Indian automobile industry is fascinating, considering that auto majors are reducing costs while maintaining the same quality as their international counterparts. While developed nations deploy 19% stainless steel in motor vehicles, developing countries consume it to the tune of 5%”. Currently, Jindal Stainless contributes around 60% to the country’s requirement of stainless steel in automotive sector.

The Indian passenger vehicle manufacturing industry became the fourth largest in the world, with sale increasing to 4.02 million units in 2017. Overall, auto sector consumes nearly 2 lakh tones of stainless steel in a year. This is pegged to grow at a rate of 15% per annum, providing enough scope of growth to domestic producers of stainless steel.

Jindal Stainless is eyeing the auto sector in a big way. The company plans to triple its supplies towards this segment in the next 5 years. According to the 2020 BSVI norms, stainless steel is the most preferred metal for exhausts, the weight of which will increase from 20 to 40 kgs in commercial vehicles. Read more

KPIT to lead the Evaluation Committee of the Automotive & Smart Vehicles Segment at the Smart India Hackathon 2018 – Hardware Edition

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

KPIT Technologies (BSE: 532400; NSE: KPIT), a global technology company specializing in IT consulting and product engineering, announced today that it has partnered with the Indian Government to support the first Smart India Hackathon 2018 – Hardware Edition. KPIT, which brings expertise in developing clean, green and intelligent technologies for the automotive industry, will be steering the evaluation committee of the automotive and smart vehicle segment of the hackathon.

Smart India Hackathon is the world’s largest nation-building initiative to harness the innovative brilliance of the youth and develop products for solving some of the country’s pressing problems.

Mr. B V R Subbu, eminent industry veteran and a member of Board of Directors at KPIT has been appointed the Chairperson and Dr. Purnendu Sinha Group Technology & Innovation Office at Tata Group as Co-Chairperson of the expert committee, while Sant Ranjan,Principal Architect-System, KPIT will work in the capacity of Secretary of the newly formed expert committee. Read more

KPIT and Birlasoft to come together to create two companies in the ‘Automotive Engineering and Mobility Solutions’ and ‘Digital Business IT Services’ space

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By  K Ashwin  Mobile: 09920183006  Email:indianshowbusiness@gmail.com

 

KPIT (BSE: 532400; NSE: KPIT), a well-established technology company with deep expertise in Auto Engineering and Mobility Solutions, and strong presence in Business IT with significant ERP expertise and niche digital competency and, Birlasoft, a part of the USD 1.6 billion diversified CK Birla Group, today announced the coming together of KPIT and Birlasoft, to create a USD 700+ million combined entity that will later demerge into two separate companies, focused on ‘Automotive Engineering and Mobility Solutions’ (the new KPIT Technologies) and ‘Digital Business IT Services’ (Birlasoft) respectively. During the period prior to completion of the deal, KPIT and Birlasoft will continue to be run by their current management, in addition to which management from KPIT and Birlasoft will work together to familiarize Birlasoft with the ITSS business.

 

At the conclusion of the deal, two new companies will be created. The new KPIT Technologies will be a USD 200+ million focused Engineering Services company that will be created by tapping into the current Engineering business of KPIT to create a global leader in Automotive Engineering and Mobility Solutions.

 

The new ‘Birlasoft’ will be a USD 500+ million Digital Business IT Services company that will be created by combining the KPIT ITSS business and the current Birlasoft creating a new leader in the mid-tier IT services space, which will also be called Birlasoft. Read more