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Bajaj Auto announces EV manufacturing unit at Akurdi
Bajaj Auto Limited has announced an investment of ₹300 crores and started work on a new unit at Akurdi for the production of electric vehicles (EVs). The unit will have a production capacity of 500,000 EVs per year. The first vehicle from this unit is expected to hit the market by June 2022. The new unit will have cutting-edge robotic and automated manufacturing systems for everything including logistics and material handling, manufacturing and painting, assembly and quality assurance. It spans half a million square feet and will employ about 800 people. The investments made by Bajaj Auto will be complemented by a number of suppliers who will invest further ₹250 crores.
Rajiv Bajaj, Managing Director, Bajaj Auto Ltd said, “Lightweight electric vehicles for sustainable urban mobility is an idea whose time may have finally come. This investment in Akurdi completes the virtuous cycle of high-tech R&D competencies, high-performance engineering capabilities, world-class supply chain synergies and global distribution network that should propel us to a leading position in the EV market in India and abroad.”
Deepak Shikarpur received the Maharashtrachi Girishihare Award.
On the occasion of Diamond Jubilee of the state of Maharashtra, Governor Bhagatsingh Koshiari honored individuals from across the state excelling in several fields with the ‘Maharashtrachi Girishihare Award’. IT entrepreneur and author Deepak Shikarpur was honored by Governor Koshiari for his contribution to the IT sector. Shikarpur has helped IT professionals and students for the past two years and established them in their careers. He is the author of 43 IT books and has hosted several talk shows and career seminars across the state.
We, Founder Circle, are leading a USD 100,000 seed round in Glii
We Founder Circle (WFC) – an early-stage founder-backer-founder-based startup investor – has led a USD 100,000 seed round in Glii, a new dating and friendship app. The startup plans to use up funds to improve the product. One of the bigger chunks will go into upgrading the technology backbone, including the overall look and feel of the app, and further building out a technical team. Another part of the collected funds will be used to build the brand.
“With this new infusion of funds, we can now develop a strong second layer of technology at Glii. This fund will act as fuel to the fire,” said Shivam Kaushik, founder of Glii.
Neeraj Tyagi, CEO and Co-Founder of We Founder Circle commented, “As an investor, I feel that if someone is making an effort to break stigmas and do greater good for society, then they should be given unlimited support. Glii is one such model that will patch the existing gaps in the whole concept of finding companionship online.
ZF acquires majority stake in joint venture with Rane Group
ZF increased its holdings to become the majority shareholder with 51 percent in Rane Group’s Rane TRW Steering Systems joint venture. Until now, the two partners owned equal shares in the company, which employs about 3,400 people. Going forward, the joint venture will market under the name ZF Rane Automotive India.
“India is a very important market for ZF and we want to grow sustainably here,” says Holger Klein, Member of the Board of Management (BOM), ZF Group. “By acquiring a majority stake from our long-time partner Rane, we aim to further expand our passenger car and truck business for our customers in the India region.”
Suresh KV, President, ZF India Pvt Ltd. said, “The complementary nature of the partners is the hallmark of this joint venture, which has led to consistent performance for the organization over the years. Supporting the Indian customer base with ZF engineering and technology along with Rane’s customer relationship and operational excellence will continue to be the objective of this joint venture going forward.”
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