Cummins Group in India (“Cummins”) announced the launch of its next-generation HELM (Higher Efficiency, Lower emissions, Multiple fuels) engine platforms at the Bharat Mobility Global Expo 2025. Key highlights include the high-performance L10 engine, an advanced Hydrogen Fuel Delivery System (FDS) with Type IV on-vehicle storage vessels, and the innovative B6.7N natural gas engine.

These launches, showcased as part of an integrated powertrain concept, reinforce Cummins’ deep understanding of the Indian commercial vehicle market and its dedication to addressing both immediate needs and future environmental challenges.

Cummins HELM engine platforms represent a forward-thinking approach to powertrain technology, focusing on performance, efficiency, and sustainability. Offering fuel-type flexibility, they empower customers to select advanced diesel, natural gas, or hydrogen variants, catering to diverse operational requirements while achieving sustainability objectives.

Designed with a modular approach, the HELM platforms utilise a common base to produce multiple engine versions, each optimised for a specific fuel type. This innovation equips customers to meet evolving environmental regulations without sacrificing operational efficiency.

Next-Generation L10 Engine

Built on the 10-litre HELM platform, the L10 engine is engineered for high performance, supporting faster logistics, improved productivity, and reduced emissions. It complies with current BSVI emissions standards while being ready for future BSVII and Euro 7 regulations. This platform underscores Cummins’ technical expertise in delivering adaptable solutions for India’s dynamic regulatory environment.

Hydrogen Fuel Delivery System (FDS)
The advanced hydrogen FDS incorporates 350-bar and 700-bar fuel delivery systems alongside Type IV on-vehicle storage vessels. This innovation addresses a key challenge in adopting hydrogen-powered commercial vehicles, furthering India’s progress in establishing a robust hydrogen economy.

B6.7N Natural Gas Engine
The B6.7N engine offers diesel-equivalent performance with significantly lower carbon emissions. Designed for heavy-duty vehicles, it supports the adoption of CNG and LNG fuels without compromising on operational costs or reliability. This engine exemplifies Cummins’ commitment to enabling a seamless energy transition for its customers.

Cummins’ innovative offerings at Bharat Mobility Global Expo 2025 highlight its unwavering commitment to driving sustainable mobility solutions and empowering the Indian commercial vehicle industry to navigate the future of clean energy.

Unveiling the new products, Jane Beaman, Vice President – Global On-Highway and Pickup Business, Cummins Inc., said, “Our world is at a pivotal moment in its journey to lower emissions. In line with our Destination Zero™ strategy, we are committed to supporting industry- wide decarbonization through a portfolio of diverse power solutions. The products on display at Bharat Mobility Global Expo are testimony to our ability to deliver advanced low-and-reduced carbon technologies today, while innovating zero carbon solutions for tomorrow. These innovations not only future proof our customers’ businesses but also set the stage for the next era of smarter, cleaner, and integrated power.”

Nitin Jirafe, Managing Director, Tata Cummins Pvt. Ltd., and Head, Engine Business, Cummins India added, “At Cummins we have always believed in designing solutions that not only meet the needs of our customers but also contribute meaningfully to our country’s progress. The products launched today align with transformative Viksit Bharat and Make in India initiatives, while addressing the evolving needs of commercial vehicle industry. Collectively, these offerings will give our customers the power of choice, enabling them to select the right technology for their needs while supporting the economic and environmental aspirations of the nation.”

At its state-of-the-art pavilion in Hall 2, Booth 2, in Bharat Mandapam, Pragati Maidan, New Delhi, Cummins is showcasing the widest array of low and zero emission technologies for the CV industry. The display features advanced engines seamlessly integrated with next-generation components such as aftertreatment systems, automated manual transmission, axles and power electronics, all optimized for high power efficiency. Interactive exhibits at the booth offer insights into Cummins’ advanced technologies and their transformative impact on the transportation ecosystem.

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Ludhiana-based auto components manufacturer Kay Jay Forgings has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The proposed INR 3.6 billion initial public offering (IPO) consists of a fresh issue of equity shares up to INR 3 billion and an offer for sale (OFS) of up to INR 600 million by existing shareholders.

The company plans to deploy the net proceeds from the fresh issue for capital expenditure and debt reduction. It aims to invest INR 1.18 billion towards a new forging facility, a machining facility and a solar power plant. INR 900 million towards debt repayment and the remaining funds to be utilised for operational purposes.

The company may also consider a pre-IPO placement of up to INR 400 million, which would reduce the size of the fresh issue accordingly.

Kay Jay Forgings is a precision engineering company manufacturing machined components for automotive original equipment manufacturers (OEMs). It also serves the farm equipment, mining, and home appliance sectors with a portfolio of 286 products.

The company claims it is the largest supplier of crankshafts and crankshaft assemblies to two-wheeler OEMs in India, with an estimated 36 percent domestic market share in FY2025. It operates 6 manufacturing units in Ludhiana, Punjab, and Hosur, Tamil Nadu. The company reported a customer rejection rate of less than 1 percent for the 6-month period ended 30 September 2025.

It maintains long-term relationships with several manufacturers, including a 37-year partnership with TVS Motor Company. Other clients include Honda Motorcycle & Scooter India, Mahindra & Mahindra and Bajajsons.

Future strategies focus on diversifying into lightweight aluminium forged and machined components. These powertrain-agnostic parts are intended to help OEMs meet emission norms and improve fuel efficiency.

In terms of financial performance, the company reported revenue of INR 7.5 billion in FY2025, up 12 percent YoY, as against INR 6.72 billion a year ago. Net profit for FY2025 came at INR 290 million, up 20 percent YoY, as against INR 240 million a year ago.

For H1 FY2026, the company reported a net profit of INR 213 million. The global automotive forging market is projected to grow from USD 45.1 billion in 2025 to USD 65.8 billion by 2030, representing a CAGR of 7–9 percent.

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Avendus Capital has released a report on the Indian auto component industry, identifying a structural shift in global supply chains. The study projects that India’s automotive metal forming market – comprising casting, forging, stamping, and machining – will grow at a 12 percent CAGR to reach USD 90–95 billion by FY2030.

The report indicates that value within the global automotive supply chain is shifting toward process specialists rather than diversified product suppliers. These specialists rely on metallurgical expertise and precision tooling, creating high entry barriers.

The Indian auto component sector surpassed USD 80 billion in FY2025. India has transitioned to a net exporter, with exports reaching approximately USD 23 billion. Original Equipment Manufacturers (OEMs) and Tier-1 suppliers are diversifying sourcing bases to India due to geopolitical factors and cost competitiveness.

Core metal-forming processes remain essential for both Internal Combustion Engine (ICE) and Electric Vehicle (EV) platforms. As global suppliers reallocate capital toward electrification, the report suggests India holds a ‘last man standing’ advantage in ICE components.

India is positioned to fill the supply gap for critical drivetrain components, including crankshafts, gears and axles. With a global fleet of over 1.5 billion ICE vehicles, the segment also presents substantial opportunities in the aftermarket.

The sector is experiencing a consolidation cycle led by capabilities rather than just scale. Recent deal activity shows increased participation from global private equity firms and strategic acquirers focusing on export-oriented platforms with deep process expertise.

Koushik Bhattacharyya, Managing Director and Head, Industrials Investment Banking, Avendus Capital, stated, “The Indian auto component sector is moving beyond a scale-driven growth phase into a capability-led consolidation cycle. We are seeing a clear shift in value toward process specialists, where deep manufacturing expertise and operational precision are becoming the key differentiators. As global supply chains evolve, India is uniquely positioned to capture this opportunity, particularly in core metal-forming segments. We expect this to translate into sustained deal activity, as investors look to build scaled, capability-led platforms in the sector.”

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French tier 1 automotive supplier Valeo has inaugurated a new manufacturing line for electric powertrain systems at its facility in Lonikand, Pune. The line will produce integrated 3-in-1 e-Axles for Mahindra & Mahindra’s ‘Born Electric’ vehicle platform. The inauguration was attended by R Velusamy, President of Automotive Business at Mahindra and Mahindra and Xavier Dupont, CEO, Valeo Power Division.

The facility produces a 3-in-1 e-Axle system that integrates the electric motor, inverter and reducer into a single unit. This configuration is designed to improve efficiency and reliability while reducing the overall footprint of the powertrain.

The Pune plant's technical capabilities include automated lines for U-Pin or Hairpin winding technologies. Dedicated sections for reducer assembly and inverter production. The facility utilises automation, digital tracing and quality control systems for end-to-end monitoring of the assembly process.

Valeo has operated in India since 1997 and currently maintains six production sites across Chennai, Pune, Sanand, and Gurgaon. The company employs 7,500 people in the country, including an engineering workforce of over 3,750 focused on global research and development.

Xavier Dupont, said, “India is a key region in Valeo’s ‘Elevate 2028’ strategic plan. Our investments in Pune supports our commitment to deeper localization of advanced technologies in India. By localizing the production of our highly integrated 3-in-1 e-Axle systems, we are strengthening our ability to deliver advanced technologies to our customers and contributing to India’s transition towards safer, and more sustainable mobility.”

Jayakumar G, President, Valeo India, added, “The inauguration of this line marks an important milestone in Valeo’s journey in India. Our new e-Axle manufacturing line in Pune is a key step in our growth strategy. It reflects our commitment to bringing advanced technology solutions closer to our customers. We are proud to develop and manufacture this e-Axle for Mahindra’s Born Electric Vehicles and to contribute to the growth of India’s EV ecosystem.“

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Gujarat-based embedded electronics and power systems company Bacancy Systems has closed an INR 400 million Series A funding round led by Sabre Partners and Greenstone Capital, both of whom have acquired minority stakes in the firm.

The company intends to deploy the capital to scale manufacturing infrastructure, accelerate product development and expand into international markets. The funding will also support research and development (R&D) in two primary industrial segments:

Electric Mobility: Development of DC charger controllers and power electronics for EV original equipment manufacturers (OEMs) and charging infrastructure providers.

Railway Electronics: Expansion into Train Control and Management Systems (TCMS), traction converter control systems, and remote monitoring platforms.

Founded in 2021, Bacancy operates at the intersection of hardware, firmware and cloud technologies.

Binal Patel, Founder and CEO, Bacancy Systems, said, “Closing our first fund raise is indeed a defining moment for Bacancy Systems. This milestone validates what we have believed from day one – that deep, purpose-built R&D in Electric mobility, Railways, is not just the future, but an urgent necessity, and local manufacturing of the same under the Make in India initiative is equally essential to empower India and build a reliable supply chain. With over two decades of industry experience, I am more confident than ever that the innovations we are building will define the next generation of India’s industrial backbone. This capital empowers us to push the boundaries of what’s possible in EV infrastructure, Railways, and beyond – and we are just getting started.”

Tanushree Agarwal, Partner, Sabre Partners, added, “Bacancy represents a compelling play on India’s electrification and indigenisation themes. The company has built strong capabilities in power electronics and controller systems, with a clear focus on IP-led product development. We believe Bacancy is well-positioned to benefit from the rapid growth in EV infrastructure and railway modernisation, and we are excited to partner with the management team to support the next phase of growth and scale.”

Paresh Thakker, Managing Partner at Greenstone Capital, stated, “Bacancy’s strong engineering capability and focus on indigenised embedded systems position it well within India’s evolving EV and railway electronics ecosystem. We are pleased to collaborate with the company in driving its upcoming phase of growth and transformation.”

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