Union Minister for Heavy Industries, HD Kumaraswamy, visited the International Centre for Automotive Technology (ICAT) in Manesar today. During his visit, the minister toured the state-of-the-art facility, which is a testament to India’s growing prowess in automotive innovation and safety standards. 

The minister was given an in-depth overview of ICAT’s advanced laboratories, testing tracks and cutting-edge technologies including crash tests, acoustic rooms for reverberation studies and fuel flow testing mechanisms.                          

During his visit, he laid the foundation stone of Electrical and Electrical Lab and Centre of Excellence for Advanced Automotive IT Services (AAITS) in the presence ICAT Director Saurabh Dalela and other senior officials. 

Speaking to the media after the visit, Kumaraswamy said, “It is my pleasure to be here on my first visit to ICAT, an institution that represents India's drive towards automotive excellence. ICAT’s state-of-the-art facilities, including its advanced laboratories and testing infrastructure, are a testament to India’s capabilities in automotive innovation.” 

The minister highlighted the crucial role ICAT plays in ensuring road safety through rigorous testing procedures. “Witnessing these facilities and tests today has given me a profound perspective on the rigorous efforts undertaken here to ensure the safety of every individual who travels on our roads. It showcases the complexity and commitment behind each test,” he added. 

Kumaraswamy commended the ICAT team for their invaluable contributions to the automotive sector, emphasizing their role in advancing sustainability, safety, and innovation. “ICAT is not just a testing and research facility; it embodies the shared vision of the ministry and the government to drive the future of mobility in India,” he said. 

The minister also noted ICAT’s significant contributions to government initiatives such as the FAME scheme, PM eDrive, and the Production Linked Incentive (PLI) scheme. He underlined the importance of ICAT’s involvement in promoting indigenous manufacturing and global competitiveness in the automotive sector. 

“ICAT stands as a symbol of India’s automotive aspirations, contributing significantly to our transition to electric mobility and sustainable transportation. The Ministry of Heavy Industries remains committed to supporting ICAT in every possible way to ensure its continued growth and success,” Kumaraswamy assured. 

The Indian automotive industry, which contributes over 7 percent to the nation’s GDP and employs millions, is expected to witness robust growth in the coming years. The minister emphasized that ICAT’s technical expertise, research and homologation services would play a pivotal role in ensuring that this growth is sustainable, safe, and competitive on a global scale. 

Concluding his visit, Kumaraswamy reaffirmed the Ministry of Heavy Industries’ commitment to fostering innovation, creating policy frameworks, and building infrastructure to position India as a global leader in automotive technology. 

“Together, we can make India a global leader in automotive technology and innovation, ensuring safer, better vehicles for Indian and global customers alike,” he said.

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India Resurgence Fund (IndiaRF), an investment platform promoted by Piramal Finance and Bain Capital, has acquired a majority stake in Fine Edge Engineering, which houses the iron casting and machining business of Ashok Iron Works and its related entities.

Founded in 1974, the Belagavi, Karnataka-based Ashok Iron Works Group manufactures machined iron castings. The company operates four foundries with an annual capacity of 144,000 metric tonnes and seven machine shops capable of producing 600,000 parts per year.

The company manufactures engine blocks, engine heads and transmission housings weighing between 20 kilograms and 5,000 kilograms, with capabilities to machine engine blocks from single-cylinder to 18-cylinder configurations. Its products supply industrial engine, agricultural equipment and automotive manufacturing sectors.

Shantanu Nalavadi, Managing Director, IndiaRF, said, “IndiaRF is excited about the Company’s growth potential and sees significant opportunities to further strengthen its capabilities and scale the business. We will support the business through investments in capacity expansion, R&D, new product development and operational excellence, while building on its long-standing customer relationships. The Company is also well positioned to benefit from growing demand for high-horsepower engine applications, particularly as the global data centre build-out accelerates.”

Jayant Humbarwadi, Joint Managing Director, Ashok Iron Works Group, said, “Over the past four decades, we have built a strong position in the iron casting and machining industry, supported by long-standing customer relationships, strong R&D capabilities and a focus on meeting our customers' evolving requirements. We are a single- or dual-source supplier to most of our customers and are pleased to partner with IndiaRF, whose experience in transforming businesses will support the Company's next phase of growth.”

The transaction provides capital for capacity expansion and research and development activities, while positioning the manufacturing unit to meet supply demands across industrial and high-horsepower engine markets.

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Automotive tier 1 supplier Uno Minda has announced its financial results for Q1 FY2027, achieving INR 55.57 billion in consolidated revenue, up 26 percent YoY. Last year, the company attained normalised revenue of INR 44.20 billion (i.e. excluding prior period income of INR 690 million) in Q1FY2026.

The EBITDA came at INR 5.72 billion, net profit of INR 2.96 billion, up 24 percent YoY.

This company witnessed growth across its core product offerings, including switches, lighting, alloy wheels, seating, as well as its new-age EV systems and alternate fuel divisions.

Ravi Mehra, Managing Director, Uno Minda, said, “Q1 FY27 reinforces Uno Minda’s strategic trajectory as we continue to outperform the broader automotive market. The ongoing shift toward vehicle premiumisation, connected mobility, and electrification is fundamentally elevating per-vehicle content across segments. By aligning our R&D roadmap with these structural industry shifts and accelerating execution across our new-age platforms, we are not just participating in market growth—we are driving the technological evolution of the vehicle cabin. Backed by disciplined capital deployment and expanding capacity, we are exceptionally well-positioned to lead the next phase of mobility innovation”

Sunil Bohra, CFO, Uno Minda, added, “Q1 FY27 marks a historic milestone for Uno Minda, as we delivered our highest-ever quarterly revenues with 26% YoY growth and a 24% increase in PAT. While we navigated a challenging commodity pricing environment during the quarter, underlying demand across the automotive sector remains strong. Our resilient performance reflects the strength of our technology leadership, product diversification, and focus on operational efficiencies. Driven by multiple growth initiatives, strategic investments, and increasing momentum in our new-age businesses, we remain confident of delivering sustainable, profitable growth while creating long-term value for our shareholders and other stakeholders.”

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Automotive supplier BorgWarner has secured extensions for multiple high-voltage inverter programs with a European original equipment manufacturer (OEM). The contract covers inverter designs for plug-in hybrid and 800V battery-electric vehicle platforms, with the start of production planned for 2029.

Under the agreement, BorgWarner will supply updated high-voltage inverters for plug-in hybrid vehicles incorporating its Application-Specific Integrated Circuit (ASIC) technology, configured to interface with the OEM's vehicle operating system.

For 800V battery-electric applications, the company will supply traction inverters utilising its Viper silicon carbide (SiC) power switches paired with a dual-sided-cooled power module.

Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said, “Extending several high-volume programs at the same time confirms BorgWarner's leading position in power electronics and the strength of our technology, in-house expertise and customer focus. Evolving our inverters generation by generation together with our customers, for both hybrid and fully electric applications, is how we build trusted, long-term partnerships with the world's leading OEMs.”

The inverter families are developed to support power management across both hybrid and electric drive architectures.

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Automotive cable and shifter manufacturer Remsons Industries has appointed Rahul Prabhakar Desai as its new Chief Executive Officer, effective 3 August 2026. He succeeds Amit Srivastava, whose resignation takes effect at the close of business hours on 4 September 2026.

Desai comes with three decades of experience in automotive manufacturing, including 17 years in executive roles. Before joining Remsons Industries, he was Executive Director and Chief Executive Officer at Pinnacle Industries, overseeing five manufacturing facilities.

He previously served as Chief Executive Officer at CIE India, managing multiple business divisions and ten manufacturing plants, and held leadership positions at GKN Sinter Metals and Inteva Products.

Throughout his career, Desai has managed greenfield plant setups, manufacturing optimisation projects and supply partnerships with original equipment manufacturers. He holds a bachelor's degree in mechanical engineering, a Six Sigma Black Belt certification and has completed executive management training at the Indian Institute of Management Ahmedabad alongside technical programs in Japan and the United States.

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