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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Kiwi General Insurance, a digital-native non-life insurer, has officially commenced operations in India's non-life insurance market. Backed by private equity firm WestBridge Capital, which holds approximately a 70 percent stake, the company begins its rollout targeting the private car motor insurance segment.

Co-founded by industry veterans Neelesh Garg (Former MD & CEO of Tata AIG General Insurance) and Saurav Jaiswal, Kiwi received its regulatory certificate of registration from the IRDAI in March 2026

The company is operating under the brand philosophy ‘Your Peace, Our Policy,’ the insurer aims to leverage a completely in-house, proprietary technology stack and AI to dismantle legacy pain points, targeting a gross written premium (GWP) of INR 2 billion to INR 3 billion in FY2027.

Kiwi General Insurance’s core operating model signals a structural shift away from traditional asset-based pricing toward personalised customer pricing, allowing it to reward safer drivers with lower premiums.

By starting with motor insurance – a mass product category historically tied to low consumer trust and complex claim friction – Kiwi said it has engineered its product ecosystem directly around minimising the anxiety associated with repair cycles and policy updates.

To address the hesitation consumers face when deciding whether to file an insurance claim, Kiwi has introduced several proprietary features designed to eliminate out-of-pocket stress and administrative delays:

• Super NCB (No Claim Bonus): Protects a customer's accumulated renewal discounts if they file a claim. Instead of resetting to zero, the driver drops only one level down on the bonus scale. The architecture allows policyholders to earn up to 40 percent higher discounts than standard market NCB structures.
• Flexi Repair: Allows policyholders to digitally ‘bank’ minor aesthetic or physical damages from minor incidents over time, later combining them into a single, comprehensive claim. This shields the customer from paying a compulsory deductible for multiple separate micro-claims, allowing them to wait until a complete workshop repair event is worthwhile.
• InstaCash: Provides instant cash support transferred directly to the customer’s bank account on the exact day their vehicle is checked into a workshop for repairs, removing the burden of managing upfront out-of-pocket expenses.
• ‘PayFirst’ Outside-Network Experience: If a customer prefers to utilise a trusted vehicle repair shop that falls entirely outside of Kiwi’s extensive cashless garage network, the PayFirst protocol triggers an instant digital payout directly to the user to maintain total freedom of choice.

Kiwi's simplified operating architecture extends across its hybrid distribution networks to empower its field partners and independent agents for same-day digital onboarding for new distributors, instant premium reconciliation & real-time performance dashboards and shared, interactive claim trackers that provide single-point ownership, completely removing internal communication bottlenecks between the client, agent and repair facility.

Neelesh Garg said, “The insurance industry has long been shaped by legacy processes that create customer apprehension. Our goal is to rebuild it from first principles using technology, data, and disciplined execution. We are focused on making insurance simple, fast and consistent. With Kiwi, we are building an institution that customers and partners can truly rely on.”

Saurav Jaiswal, Managing Director & CEO, Kiwi General Insurance, added, “Indian consumers have a real trust deficit in insurance. If someone has to make a claim, they are already having a bad day. We are building Kiwi to get them through it as fast as possible. Customers today expect clarity, speed, and reliability, especially in moments that matter. From instant policy issuance and real-time claim tracking to faster decisions and single-point ownership, every element is designed to reduce ambiguity.”

Image credit: Pexels Mikhail Nilov

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Palmer Energy Technology (PETL), a UK clean energy and battery technology group led by former Aston Martin CEO Dr Andy Palmer CMG, has confirmed its acquisition of Kleandrive’s business and assets as a going concern through administration. The acquisition preserves a specialist British engineering capability focused on heavy vehicle decarbonisation.

Based in Essex, Kleandrive specialises in retrofitting traditional diesel vehicles – specifically legacy diesel buses – by replacing their internal combustion engines with fully electric drivetrains. This approach allows fleet operators to transition to zero-emission running without the embedded carbon costs or high capital outlay associated with new electric bus procurement.

The acquisition integrates Kleandrive's repowering workflows into the PETL group's broader clean propulsion portfolio. PETL is a leading developer of battery and battery management system (BMS) technology, utilising capabilities from its wholly-owned subsidiary Brill Power, a University of Oxford spin-out.

The combined business establishes a vertically integrated structure with reach across multiple development phases:

• Battery cell selection and advanced management systems.
• Powertrain integration and heavy-duty electric vehicle (EV) conversion.
• Fleet deployment, live commercial relationships with major UK bus operators and aftermarket support.

This architecture provides PETL with a direct application channel for its proprietary battery and energy management technology in a high-impact segment of UK transit. Furthermore, it creates a foundation for future retrofit expansion into adjacent commercial sectors where the economics of repowering are increasingly favourable, including coaches, heavy goods vehicles (HGVs) and specialist commercial vehicles.

Heavy-duty buses represent an immediate opportunity within UK fleet electrification. Despite the UK government's end-of-sale date for new diesel buses and widespread operator commitments to zero-emission running, a significant portion of the national bus fleet remains heavily diesel-powered.

Repowering serves as a critical bridge for local authorities and regional operators working under strict capital constraints and decarbonisation targets. By converting existing assets, operators can lower capital costs compared to buying new vehicles, extend the useful life of their fleets and eliminate the manufacturing emissions of new vehicle fabrication.

Palmer Energy Technology intends to invest in the newly acquired capability as part of its wider clean energy portfolio. Decisions regarding the future operating structure, long-term asset deployment, and brand identity of the acquired business will be finalised and communicated in due course.

Dr Andy Palmer CMG said, “Britain keeps losing its industrial base one company at a time. I have spent years making the public argument that the UK cannot meet its decarbonisation targets or build a credible clean transport sector without homegrown businesses leading the way. This acquisition of Kleandrive’s business and assets as a going concern is a small but practical example of acting on that argument. Repowering existing diesel buses is one of the most cost-effective ways for operators to decarbonise their fleets. It deserves to be built here, by British engineers and we intend to make sure it is.”

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The Society of Indian Automobile Manufacturers (SIAM) organised the 6th International Conference on ‘Climate Action: Accelerating India’s Transition to a Low-Carbon Future’, to mark World Environment Day.

The forum brought together automobile policymakers, industry CEOs, academic researchers and sustainability experts to detail decarbonisation pathways across the entire automotive value chain.

The conference emphasised that for a market as diverse as India, no single technology will satisfy the country's net-zero roadmap. Instead, progress relies on the parallel maturation of vehicle electrification, alternative bio-fuels, circular material economies and green factory manufacturing.

The transport sector was highlighted as a focal point for reinforcing India's domestic energy security and reducing its macro-economic reliance on volatile fuel imports. Government and industry speakers mapped out a multi-fuel ecosystem designed to transition the country toward localised and clean energy pathways.

While the three-wheeler category is experiencing a fast transition driven by favourable unit economics, panellists called for accelerated adoption curves within the four-wheeler and public transport segments, specifically via electric buses.

India is actively advancing a wide range of low-carbon fuel alternatives, including biofuels, ethanol and isobutanol blends, flex-fuel configurations, compressed biogas (CBG), liquefied natural gas (LNG/CNG), green hydrogen and synthetic fuels.

Technical pathways involving coal gasification-based fuels are being structurally explored to further diversify domestic supply lines.

Experts noted that tech adoption cannot be driven by immediate costs alone; long-term scale will naturally deflate pricing over the next decade. Crucially, vehicle deployment and localised charging/refuelling networks must expand in tandem.

The conference was segmented into three core technical tracks, evaluating circularity, fuel diversification and manufacturing supply chains.

The first thematic session, ‘Circularity in the Automotive Sector: From Materials to End-of-Life Vehicles,’ focused on circular economy practices across the automotive value chain, including sustainable sourcing, recycling, resource efficiency, and end-of-life vehicle management was addressed by Guest of Honour Dr. Virender Sharma, Member Technical (Additional Secretary to Government of India level), Commission for Air Quality management in National Capital Region and Adjoining Areas. The session was chaired by M S Anand Kumar, Chairperson, SIAM Recycling & Material Groups, and Assistant Vice-President, TVS Motor Company, the session included presentations by Dr. Rashi Gupta, Founder & Managing Director, Vision Mechatronics; Bhuwan Purohit, Executive Director, Rubamin; Dr Swati Singh, Head of Regional Standards, South Asia (UL Standards and Engagements) and Abhijit Sen Roy, General Manager (TS), Indian Oil Corporation Ltd. (IOCL), who shared perspectives on sustainable technologies, EPR frameworks, and circular resource recovery.

The session also included a panel discussion on ‘Building a Circular Automotive Value Chain,’ moderated by Sandeep Kumar Mohanty, Partner, PwC.

The second thematic session, ‘Alternate Fuels for Sustainable Mobility – Diversifying the Energy Mix: Pathways for Low-Carbon Fuels,’ focused on the role of alternate fuels in reducing transport emissions and supporting India’s mobility transition. Chaired by Vikram Gulati, Country Head & EVP – Corporate Affairs & Governance, Toyota Kirloskar Motor, the session included presentations by Dr. Santanu Gupta, Director Technical, Global Biofuels Alliance; Sumit Sarkar, Chief Executive Officer, Chhattisgarh Biofuel Development Authority and Santosh Gurunath, Chief Executive Officer, Umagine Hydrogen, who shared insights on global biofuel trends, agricultural residue-based fuels being developed, and elaborated on hydrogen as a pathway for low-carbon mobility.

A panel discussion on ‘Multi-Fuel Pathways to Achieve Sustainable Mobility,’ moderated by Atul Jairaj, Partner, Deloitte India, brought together Suruchi Bhadwal, TERI and Vedang Pittie, Harinagar Sugar Mills, along with the presenters and session chair. The discussion focused on the role of biofuels, hydrogen and other low-carbon fuels and the policy and infrastructure support needed to accelerate their adoption.

The third thematic session, ‘Decarbonising the Automotive Value Chain: Green Manufacturing and Sustainable Supply Chains,’ chaired by Suneet Deshmukh, Head Operations Excellence, Hero MotoCorp, discussed strategies for reducing emissions across manufacturing operations and supplychain.

The session included presentations by Chaitanya Kanuri, Director E-Mobility, WRI India; Mayur Karmarkar, Managing Director, International Copper Association India and Mohit Jauhari, Head SCM, Shriram Pistons and Rings, who shared insights on copper, critical minerals, rare earth magnets and elaborated on sustainable supply chain practices.

The session also included a panel discussion on ‘Accelerating the Transition to a Low-Carbon Automotive Value Chain,’ moderated by Pratik Shah, Partner, EY Parthenon. The panel brought together Parag Sharma, Stellantis; Lt Col Monish Ahuja (Retd), Punjab Renewable Energy Systems along with the session presenters. They discussed green manufacturing, renewable energy, sustainable sourcing and supply chain decarbonisation.

To actively support India's target of carbon neutrality by 2070 and the Viksit Bharat vision by 2047, SIAM formalized its long-term actions under six targeted environmental and structural initiatives – विद्युतीकरण (Electrification), जैविक पहल (Bio-Initiatives), चक्रीयता (Circularity), गैस गतिशीलता (Gas Mobility), हरित हाइड्रोजन (Green Hydrogen) and सुरक्षित सफर (Safe Journey).

Tarun Kapoor, Advisor to the Prime Minister of India, stated during the opening session, "The transport sector must play a central role in strengthening India's energy security. We cannot continue to depend on large-scale fuel imports and, over time, must move towards fuels that can be produced within the country. While three-wheelers are ready for rapid electrification, we need much faster adoption in the four-wheeler segment as well."

Prashant K. Banerjee, Executive Director, SIAM, added, "We are living through a time of unprecedented challenges, from climate change and air pollution to energy security concerns. But every challenge also creates an opportunity and as the world's largest market for two-wheelers and three-wheelers, India has already demonstrated remarkable progress in sustainable mobility."

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Green SM, the electric vehicle ride-hailing service company of Vietnamese conglomerate Vingroup has officially launched Green SM Limo service in New Delhi, marking its strategic entry into the Indian market.

India represents the company's fifth international territory, following active deployments in Vietnam, Laos, Indonesia and the Philippines.

The inauguration ceremony was attended by prominent dignitaries, including Rao Narbir Singh, Minister for Industries & Commerce, Environment, Forest & Wildlife, Foreign Cooperation, and Sainik & Ardh Sainik Welfare for the Government of Haryana and Dr. Virinder Sharma, Vice-President of the Commission for Air Quality Management. Representatives from the Embassy of Vietnam in India and various strategic industrial sectors were also present.

In its initial phase, Green SM Limo will operate exclusively within key areas of the Delhi National Capital Region (NCR), with plans to scale service coverage incrementally in response to consumer demand. The service features a specialised, single-model electric fleet tailored for premium passenger transport.

The fleet consists entirely of the VinFast Limo Green, a fully electric, 7-seater SUV that produces zero tailpipe emissions. To optimise passenger comfort during business commutes, family trips, or airport transfers, each vehicle is stocked with complimentary drinking water, wet tissues and essential travel amenities. Vehicles are integrated with a proprietary Secure-to-Safe system, which features interior and exterior monitoring cameras, AI-powered driving assists and dedicated emergency support buttons accessible by both the driver and passengers.

Operating under the core service commitment of ‘Ride 5 Star,’ Green SM Limo utilises a team of professionally trained ‘Green Drivers’ instructed in specialised electric vehicle mechanics, defensive driving and hospitality workflows.

Passengers within the active Delhi NCR zones can secure rides through three primary channels:

• The Green SM mobile application (available on the iOS App Store and Google Play).
• A dedicated telephone service hotline.
• Direct street-hailing within valid Green SM operating parameters.

To celebrate its market entry, Green SM is offering a 50 percent discount (up to INR 250) for all rides booked via its official app from 5 June to 11 June 2026.

Coinciding with the brand launch, Green SM inducted five local Indian partners spanning the mobility, travel, technology and service sectors into its Green Alliance Frontier. This global platform is designed to connect eco-conscious commercial enterprises to encourage collaborative cross-market innovation and accelerate localized green transformations.

Nguyen Van Thanh, Global CEO, GSM, said, “India is one of the most important mobility markets in the world. Its scale, rapid growth, and strong spirit of innovation are opening up many opportunities for the future of green transportation. We come to India with respect for the market, confidence in its long-term potential, and a commitment to working closely with local partners. Green SM hopes to bring high-quality fully electric rides to customers, while contributing to broader access to safe, reliable, and more sustainable mobility choices."

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