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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The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a landmark two-year scheme designed to curb air pollution and accelerate the transition to cleaner transit across the Delhi–National Capital Region (NCR).

Funded through the National Capital Region Planning Board (NCRPB) under the Ministry of Housing and Urban Affairs (MoHUA), the program will be jointly executed by the Ministry of Road Transport and Highways (MoRTH) and the Ministry of Petroleum and Natural Gas (MoPNG). The initiative will operate in direct collaboration with the participating governments of Delhi, Haryana, Rajasthan and Uttar Pradesh.

The scheme features a total financial outlay of INR 95.85 billion, which includes an INR 50.41 billion capital commitment from the Central Government and an estimated INR 16.01 billion allocated via tax concessions from the participating states.

The program targets the replacement of heavy commercial vehicles currently complying with BS-IV or earlier emission standards with newer BS-VI (or stricter) compliance models and electric vehicles (EVs). According to data cited from an August 2018 source apportionment study by the Automotive Research Association of India (ARAI) and The Energy and Resources Institute (TERI):

• Sector Emissions: The transport sector drives 14 percent of PM2.5, 40 percent of Carbon Monoxide (CO), and 63 percent of Nitrogen Oxide (NOx) emissions in Delhi-NCR.
• High-Impact Fleet: Within this sector, trucks and buses account for 36 percent of total PM2.5 emissions while making up just 3 percent of the active vehicle fleet.
• Technology Gap: A single Pre-BS heavy-duty vehicle emits as much particulate matter as 14 BS-VI vehicles, while an older BS-IV truck emits 2.7 times more than its BS-VI counterpart.

The fleet modernisation drive is expected to benefit approximately 207,000 vehicle owners across the NCR, encompassing 191,000 trucks and 16,329 buses. Government-owned fleets are explicitly excluded from the scheme.

The operational guidelines differ by vehicle generation and state jurisdictions:

• BS-III or Older Vehicles: Owners must format and scrap old assets at a Registered Vehicle Scrapping Facility (RVSF).
• BS-IV Vehicles: May either be scrapped or sold outside the NCR boundary into non-NCAP (National Clean Air Programme) cities and towns.
• Replacement Registration: New replacement vehicles must be registered inside the NCR.
• Delhi-Specific Mandates: Within the National Capital Territory of Delhi, all Light Goods Vehicles (LGVs) purchased under this framework must be purely electric, while new buses are restricted to either BS-VI CNG or electric drivetrains.

To offset transition costs for operators, the program bundles financial support from the central government, state bodies, and original equipment manufacturers (OEMs):

The rollout will operate entirely via an integrated digital portal designed to handle real-time eligibility screening, automated processing for interest subventions, monthly credit distribution for fuel vouchers, and structural tracking of net pollution reduction metrics. While the enrollment window spans two years, the central government's financial benefits will remain active for 5 years from a vehicle's individual registration date to provide sustained operational relief.

Administrative monitoring will be directed by a high-level Empowered Committee chaired by the Cabinet Secretary. The body will include the CEO of NITI Aayog, Secretaries from MoHUA, MoRTH, MoPNG, and the Department of Financial Services (DFS), alongside the Chief Secretaries of the participating NCR states, with the Member Secretary of the NCRPB serving as the member convenor. Local execution and district-level compliance will be managed by respective District Magistrates and District Collectors.

Shailesh Chandra, President, SIAM, said, “This is a positive step towards accelerating the adoption of cleaner vehicles in Delhi NCR. A combination of 5 percent interest subvention by the Centre, road tax concessions by States, monthly fuel vouchers of up to INR 4,800 by OMCs, and discounts by OEMs allows participation from all stakeholders to provide an opportunity to owners of old Commercial Vehicles to leverage the programme, thereby contributing to reducing pollution load in NCR.”

Girish Wagh, MD & CEO, Tata Motors, said, “The approval of this scheme is a positive step towards accelerating fleet modernisation and cleaner mobility in the Delhi-NCR region. Aligned with our commitment to make cargo and passenger transportation greener and more efficient, we are well positioned to support this transition through our expansive portfolio of BS-VI and zero-emission commercial vehicles, and our nationwide network of Re.Wi.Re registered vehicle scrapping facilities. We look forward to studying the finer details of the notification to further align our efforts towards building a more sustainable and modern commercial vehicle ecosystem.”

B. Srinivas, MD & CEO, VECV, said, “We applaud the Government for approving the vehicle replacement scheme for Delhi-NCR. This is a significant step towards accelerating fleet modernisation while addressing one of the region’s most pressing environmental challenges. As India progresses towards its Net Zero 2070 ambitions, such initiatives demonstrate how policy, industry and technology can come together to drive sustainable mobility. At VECV we believe this will not only support cleaner transportation in Delhi-NCR but also serve as a model for fleet renewal and modernisation across the country during its Amrit Kaal. We are committed to supporting our customers through this transition with a wide range of Eicher and Volvo trucks and buses offering fuel options covering electrics, CNG, LNG and clean BSVI diesel.”

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American automotive and technology company Lucid Group has announced that Silvio Napoli has officially assumed the role of Chief Executive Officer (CEO), effective immediately. The appointment completes a scheduled leadership transition that was initially announced on April 14.

He succeeds Marc Winterhoff, who has completed his tenure as Interim CEO and returned to his previous position as Chief Operating Officer (COO), reporting directly to Napoli.

Napoli joins the software-defined vehicle and technology manufacturer following a career in global industrial management. He most recently served as the Chairman and Chief Executive Officer of the Schindler Group, where his responsibilities covered large-scale international operations, financial management and corporate technology strategies.

According to management, Napoli's immediate operational roadmap for Lucid will prioritise several structural developments, including streamlining internal processes and organisational structures to improve execution while deepening overall customer engagement. He will also be responsible for driving cost competitiveness across the vehicle manufacturing pipelines and instituting stricter accountability metrics across operational teams.

The transition comes as Lucid looks to stabilise its long-term market position and scale its technical product offerings.

Turqi Alnowaiser, Chairman of the Lucid Board of Directors, said, "On behalf of the Board, we are pleased to have Silvio as CEO at this important stage for Lucid. The Board remains fully committed and focused to Lucid's long-term future, and we have strong confidence in Silvio's leadership."

Silvio Napoli, added, "After spending time with our teams and gaining deeper firsthand experience with our products and technology, I'm increasingly confident in our ability to deliver consistent execution and long-term value. Our focus will be on strengthening customer engagement, operating with consistency and accountability, achieving cost competitiveness and streamlining our organization and processes to fully leverage the strength of our team."

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African electric mobility and battery-swapping platform Spiro has secured a USD 215 million investment round to accelerate the deployment of its clean energy infrastructure across Africa.

The equity round was backed by global institutional investors, including Impact Fund Denmark and Equitane, alongside continued support from long-standing partners such as FEDA.

The pan-African expansion will be anchored by technological innovation, research and development and artificial intelligence-driven energy analytics out of Spiro’s Global Technology and Engineering Center located in Pune, India.

Founded by Indian entrepreneur Gagan Gupta under the Equitane Group, Spiro has transitioned past its proof-of-concept phase to become the largest electric mobility player in Africa. The company's operational infrastructure across the continent includes over 100,000 active electric motorcycles and a network of 2,500 automated battery-swapping stations.

The operations span seven fast-growing urban markets, including Kenya, Rwanda, Uganda, Togo, Benin, Nigeria and Cameroon. It has established a dedicated manufacturing and assembly plants located in Kenya, Rwanda and Uganda, complemented by a battery recycling facility in Nigeria.

The Pune-based innovation hub houses more than 150 engineers and manages over 30 proprietary patents. Technical developments focus on IoT-enabled, solar-powered swap stations and secondary-life battery applications for stationary renewable energy storage.

The new capital will be deployed to expand this battery-swapping network, strengthen local industrial manufacturing footprints, and support entry into additional high-growth African markets, such as the Democratic Republic of the Congo (DRC) and Ethiopia.

The company claims operating a Spiro electric vehicle reduces daily mobility expenses by up to 40 percent, translating to savings of up to USD 2 per day compared to internal combustion engine motorcycles.

A third-party verified lifecycle assessment in Kenya indicated that Spiro's electric bikes deliver a 72 percent reduction in climate impact compared to fossil-fuel alternatives, avoiding roughly 19 tonnes of CO2 emissions over a single vehicle's lifespan. The study also registered an 80 percent reduction in ozone depletion potential and a 20% reduction in particulate matter emissions, mitigating public health risks in rapidly expanding urban centres.

Gagan Gupta, Founder of Spiro and Chairman of Equitane, said, “This past year marked a defining strategic milestone for Spiro. Across seven active markets, our deployment of 100,000 electric vehicles and 2,500 smart-swap stations has turned sustainable mobility into an affordable, everyday reality. Spiro has become a major driver of local industrialization, value creation and manufacturing across African markets with 6,000 sustainable direct and indirect jobs. Supported by our global pool of investors, we are entering our next growth chapter to deliver clean, cost-effective energy and transport alternatives to millions of riders across the continent”.

Lars Bo Bertram, CEO, Impact Fund Denmark, added, “We are investing in Spiro and bringing Danish pension capital into one of Africa’s most promising growth markets because we see potential for significant commercial growth in Spiro and electric mobility across Africa, as well as measurable climate impact. That is exactly the type of investment we want to make”.

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VinFast India, one of the youngest electric vehicle manufacturers in the country and part of the Vietnamese conglomerate VinFast Group, has appointed Amit Arora as its new Director – O2O (online-to-offline) Sales.

In his new role, he will be responsible for building VinFast India’s retail presence, focussing on converting digital leads into actual sales.

Arora has more than two decades of experience in the automotive industry across marketing and sales functions. Till recently, he was the Head of Marketing for V-Green, part of VinFast Group, focusing on building the company’s brand presence, customer acquisition and support business growth in the EV charging ecosystem.

He also oversaw brand positioning, campaigns, partnerships and demand generation across segments.

Prior to that Arora, spent close to 11-years at Maruti Suzuki India as Senior Manager for International Markets, focussing on the Latin America and Oceania region. He also spent around 6 years of his career at Hyundai Motor India and rose to the ranks of Head of Sales Marketing Strategy.

Arora is a Commerce Graduate from Shaheed Bhagat Singh College and also holds a Postgraduate Degree in International Business from Birla Institute of Management Technology (BIMTECH).

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