Recording a 353 percent increase in the revenue for the first quarter of FY2021-22 at INR 29,510 million in comparison to the revenue generation of INR 6,510 million in the corresponding quarter of FY2020-21, Ashok Leyland is confident of a strong demand emerging post the second Covid-19 wave. Clocking export volumes of 1,437 units in the first quarter of FY2021-22, up 254 percent when compared to the export of 405 units in the first quarter of FY2020-21, the commercial vehicle manufacturer is concentrating on vaccination and the adherence of safety protocols to try and ensure that all its stakeholders stay protected from a potential third wave. Experiencing a 1,041 percent growth in domestic M&HCV volume in the first quarter of FY2021-22, which is almost twice than that of the industry growth volume at 562 percent during the same period, the company has reported a net loss of INR 28,20 million in the first quarter of FY2021-22 as against a net loss of INR 38.90 million in the corresponding quarter of FY2020-21. Selling 8,690 LCVs in the domestic market in the first quarter of FY2021-22, up 224 percent as compared to the sale of 2,686 LCVs in the corresponding quarter last fiscal, Ashok Leyland is closely observing the way the freight rates are shaping up. It is confident that freight rates will improve with higher availability of commercial vehicles once the Covid-19 subsidies and uncertainty fades. “We are hoping for the volumes to grow higher as the market gets better,” mentioned Mahadevan. “July (2021) has been a growth month,” he added. Stressing that they have had eight months of degrowth, Mahadevan said, “Economic growth will induce growth in CVs.”

CV trends
Working on a strategy for a robust domestic and exports growth, the commercial vehicle major is appointing dealers in Africa. Looking at gaining good traction in South East Asia, Ashok Leyland will launch new products in the LCV segment even though not in the immediate quarter. Buoyed by the international markets opening up and experiencing export thrust, the company is said to be testing an electric version of its LCV platform on which the Bada Dost is based in the UK. This vehicle is expected to be launched at the end of this fiscal or in the first half of the next fiscal. Of the opinion that electric vehicles are catching up, especially at the local point of use, on the encouragement of the governments, Mahadevan averred, “It is more to do with buses, but trucks will catch up.” Seeing a trend of petrol commercial vehicles in the low-tonnage segment of sub-1 tonne to 1.5 tonne, Mahadevan drew attention to the push on CNG. “We are ready in the LCV and ICV (segment),” he added. Of the firm belief that diesel vehicles will continue and the IC engine will coexist and not die overnight, Mahadevan said, “We are ready to cater to higher demand.” 
 

Watching closely how freight operators are able to pass on the fuel price hike to their end customers, Ashok Leyland is hoping that bus commute will pick up. A 40,000 units per annum market, according to Mahadevan, buses have been severely affected due to the Covid-19-led disruption. Delivering 40 electric buses to the city of Chandigarh recently (from where it has bagged an order to build and maintain e-buses with quick charging technology), Ashok Leyland is expecting pent-up demand to show up once normalcy returns. Also expecting demand to show up because of the need to ferry people without sacrificing social distancing norms, Mahadevan drew attention to their work towards further strengthening their position in the bus and LCV market segments. With the talk of schools reopening in regions where the Covid-19 infections are down, and the relaxation in Covid-19 norms in some region allowing more employees to return to their offices, bus demand is expected to improve post witnessing a sudden downfall mid-last year. Through the establishment of Switch Mobility, Ashok Leyland is keen to experience a speedier ride in the ‘cleaner and greener’ bus space. 
 

Managing costs and productivity 
Eyeing international markets like the US, Europe and Japan, the company, through the Switch Mobility subsidiary, has worked with a few consultants to make sure that its data points and numbers are on par with the current situation. Under Switch Mobility, it is developing new products to present an advantage of unique position in terms of value and premium positioning. For its Switch Mobility subsidiary that includes the erstwhile Optare of UK, Ashok Leyland has managed to get USD 18 million worth of investment from Dana Incorporated (Dana), a US-based manufacturer of drivetrain and e-propulsion systems. To do de-bottlenecking once enough demand is evident, Ashok Leyland, investing sufficiently in terms of capex, is confident of seeing early growth sprouts in LCVs. Therefore, if it were to do immediate capex investment, it would be in LCVs. Discussing with scrappage centres post the announcement of the scrappage policy, Ashok Leyland, the second-largest CV maker in the country, is witnessing good traction from its other business verticals like defence, power solutions and aftermarket. They are contributing to its top line. 
 

With the pace of vaccination picking up and positively setting in, Ashok Leyland is expecting a demand spike in commercial vehicles after the fear of a third Covid-19 wave is over. This, according to Mahadevan, could happen in the second half of this fiscal. Focusing on costs, productivity and middle level management, the commercial vehicle major is also concentrating on reducing its carbon footprint. Apart from announcing strategic steps to move towards net zero carbon mobility through Switch Mobility, Ashok Leyland, said Mahadevan, has formed an ESG committee of the Board. The committee will guide and propel the commercial vehicle manufacturer to achieve its sustainability agenda.
 

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Hyundai Motor India Limited (HMIL) has launched a new brand campaign ahead of the ICC Women’s T20 World Cup 2026, featuring its brand ambassadors Smriti Mandhana and Jemimah Rodrigues. The campaign builds on the success of the earlier men’s World Cup initiative titled ‘Deewane India ka Deewana Humsafar’ but presents a distinct narrative focused on celebrating the rising support and admiration for women’s cricket in India.

The campaign directly challenges the traditional label of cricket as a gentleman’s game with the bold message that the ‘gentle’ has been removed from the sport. Through strong visuals, it highlights the determination, skill and barrier-breaking performances of women cricketers, showing how their passion is transforming the game and deepening India’s love for cricket.

As a Premier Partner of the ICC, HMIL plans to engage fans during the tournament with curated digital content and targeted outreach. These efforts aim to amplify the excitement of the Women’s T20 World Cup, bring fans closer to the action and strengthen Hyundai’s emotional connection with cricket enthusiasts.

Virat Khullar, Head – Marketing, Hyundai Motor India Limited, said, “At Hyundai, we believe sport has the power to unite communities, inspire dreams and create meaningful connections. The overwhelming response to our ‘Deewane India Ka Deewana Humsafar’ campaign reaffirmed the deep emotional bond between cricket and its fans. With the ICC Women’s T20 World Cup, we are proud to celebrate a new chapter of this passion by recognising the growing influence of women’s cricket and the millions of fans who continue to champion the game. This campaign aims to celebrate that shift and spotlight the incredible journeys of players like Smriti Mandhana and Jemimah Rodrigues, who continue to break stereotypes and inspire millions. As a proud partner of the ICC, Hyundai remains committed to supporting this new era of cricket and standing alongside the champions who embody the true spirit of ‘Deewangi’.”

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Vega Auto Accessories, a leading helmet manufacturer, has announced a strategic investment in Tageze Medical ID System, a Pune-based emergency technology platform operated by Techsocio Projects.

The transaction marks a direct entry for the traditional protective gear manufacturer into the connected safety and digital emergency response sectors, moving the brand's product ecosystem from pure accident prevention into active medical response coordination.

Tageze develops a decentralised, application-free medical identification platform. Utilising ruggedised, weather-proof QR-code tags integrated directly onto the helmet shell, the technology creates an immediate digital profile for first responders.

During a critical road incident (golden hour), bystanders, emergency responders, or healthcare professionals can simply scan the helmet-mounted QR code with any standard smartphone camera. The system instantly loads a secure, cloud-hosted medical profile outlining: primary and secondary emergency contact routing; blood group categorisation, known allergies, chronic medical conditions and current medications; health and vehicular insurance policy details to expedite hospital admission procedures.

Because app installation requirements often introduce friction during high-stress rescue operations, the platform operates entirely via a responsive mobile web interface. It supports multilingual localisation, dynamically translating medical profiles based on the browser settings of the first responder – a critical feature for long-distance touring riders navigating diverse linguistic states and countries.

The capital injection from Vega will be utilised to expand Tageze's technical infrastructure and scale its market footprint across India and its existing international distribution nodes.

For Vega, the alignment signals a broader shift occurring across the personal protective equipment (PPE) sector. As global motorcycling demographics demand higher technology integration, manufacturers are shifting beyond standard impact testing (such as ECE 22.06 or DOT standards) to capture the digital layer of post-crash telemetry and identity verification. The companies confirmed that the investment will fund a dedicated R&D pipeline aimed at embedding next-generation, hardware-level emergency tracking chips and intelligent response systems directly into future Vega and AXOR helmet lineups.

"At Vega, rider safety has always been at the core of everything we do. Through our partnership with Tageze, we are looking at safety beyond the helmet itself by enabling faster access to critical information during emergencies. We believe this is an important step towards building a more connected and responsive rider safety ecosystem," Vega said in a statement.

Deepak Gaikwad, Founder & CEO, Tageze Medical ID System, added, "Our mission has always been to make life-saving information accessible when it matters most. Partnering with Vega allows us to expand the reach of this technology and bring emergency preparedness closer to riders across India and global markets."

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Ireland-headquartered intelligent power management company Eaton has entered into a definitive agreement to separate its Mobility Group business and combine it with Dana Incorporated in a Reverse Morris Trust transaction.

The deal values the combined company at over USD 10 billion in enterprise value and values Eaton’s Mobility Group at approximately USD 5.1 billion. The transaction is scheduled to close in Q1 of CY2027, subject to approval by Dana shareholders and regulatory clearances.

Under the terms of the agreement, Eaton will receive a tax-free cash distribution of approximately USD 1.1 billion, which will be funded by newly issued debt from the mobility entity. Eaton shareholders will receive shares in the combined business, resulting in a post-transaction ownership structure where Eaton shareholders hold at least 50.1 percent of the outstanding shares and Dana shareholders own approximately 49.9 percent.

The transaction allows Eaton to alter its corporate focus toward its electrical and aerospace divisions, which align with market trends in electrification, data centres, infrastructure modernisation and aerospace defence.

The combined entity will merge Dana’s portfolio of axles, driveshafts, thermal management and sealing products with Eaton’s commercial vehicle transmissions, clutches and engine emissions technologies. The merged entity will target internal combustion, hybrid and electric vehicle platforms across commercial and light vehicle manufacturing sectors.

The combined entity will retain the name Dana Incorporated and continue its public listing on the New York Stock Exchange under the ticker symbol DAN. The business is projected to generate approximately USD 11 billion in pro forma revenue and USD 1.7 billion in pro forma estimated 2026 adjusted EBITDA. The integration plan targets USD 250 million in annual run-rate cost synergies to be fully achieved within 24 months of closing.

Furthermore, Byron Foster will become the Chief Executive Officer of the combined company and Timothy Kraus will assume the role of Chief Financial Officer. R. Bruce McDonald will serve as Executive Chairman, while Erin Rowse is named as the incoming Chief Human Resources Officer. Dana’s board of directors will expand from eight members to include three additional directors appointed by Eaton.

Paulo Ruiz, Chief Executive Officer, Eaton, said, "We are pleased to have reached this agreement, which delivers significant value to Eaton and its shareholders and represents a major milestone in Eaton’s 2030 growth strategy to lead, invest and execute for growth. Eaton shareholders will benefit from the meaningful upside created by the combined company, and the transaction will provide substantial cash value for Eaton to deploy to our highest-growth and highest-margin opportunities. Looking ahead, our portfolio will be closely aligned with the powerful megatrends driving generational growth in our Electrical and Aerospace businesses, and we look forward to continuing our momentum to drive meaningful value for our customers and shareholders."

R. Bruce McDonald, Dana Chairman and Chief Executive Officer, said, "We are excited to bring together Eaton’s Mobility Group with Dana. The addition of Mobility Group’s leading positions in commercial vehicle transmissions, clutches and power management technologies, combined with Dana’s strengths in axles, driveshafts, electrification, thermal management and sealing products, will create a truly differentiated global platform. Together, we will be better positioned to serve our customers, invest in innovation and drive long-term value creation for shareholders of the combined company.”

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Bajaj Auto Foundation, the CSR arm of Bajaj Auto Limited, has announced a significant INR 4 billion commitment over the next decade to support women engineers through the Rupa Rahul Bajaj Scholarship for Women in Engineering (RRBSWE). The initiative is aimed at increasing female participation in core technical fields.

The scholarship, recognised as India’s largest such programme for women in core engineering, targets meritorious students pursuing disciplines like Mechanical Engineering, Electronics, Industrial Instrumentation, Mechatronics and Robotics. Scholars at 40 leading institutes, including IITs, NITs, IIITs and reputed state and private universities, can receive up to INR 800,000 in financial aid throughout their engineering education.

Beyond monetary support, the programme focuses on holistic leadership development. It offers structured mentorship, industry immersion and professional networking opportunities to cultivate future women leaders in engineering and manufacturing sectors. The launch event at Bajaj Auto Ltd.’s Pune headquarters also celebrated the first cohort of 506 scholars, with chief guest Kiran Mazumdar-Shaw and Rajiv Bajaj in attendance.

The foundation highlighted that this effort tackles the persistent underrepresentation of women as advanced manufacturing and deep technology grow critical for India’s economy. Unveiling its overarching proposition, ‘Where there’s a skill, there’s a way’, the foundation reaffirmed its dedication to skilling and education for the nation’s future workforce.

Rajiv Bajaj, Managing Director, Bajaj Auto Limited, said, “Women possess inherent skills of patience, empathy and diligence, which are very strong attributes to excel in core engineering jobs. We identified this long back and made women engineers a significant part of our workforce. In fact, from virtually no women in our operations till around a decade back, today they account for nearly 20 percent of our workforce. This has brought a meaningful difference to our way of working and contributed to Bajaj Auto’s global scale, thereby making us the World’s Favourite Indian. This programme would extend our learning with the larger manufacturing industry.

“The Rupa Rahul Bajaj Scholarship for Women in Engineering holds a special place in my heart, as it carries the name of my beloved mother, Rupa Rahul Bajaj. Her dedication to education and her belief that women can drive change in their communities inspire this programme. The Rupa Rahul Bajaj Scholarship is an investment in talent, ambition and the belief that opportunity can unlock extraordinary potential. We are deeply committed to ensuring that women play a far greater role in shaping the future of engineering and manufacturing.”

Kiran Mazumdar-Shaw, Executive Chairperson, Biocon Limited, said, “The future of science, engineering and manufacturing must be built on inclusion and equal opportunity. Encouraging more women to pursue core engineering disciplines is not just a social imperative but an economic one. Initiatives like the Rupa Rahul Bajaj Scholarship can help create a stronger and more diverse innovation ecosystem for India.”

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