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.
 

Comments (0)

ADD COMMENT

Link Copied!

Maruti Suzuki India Limited has achieved a significant milestone in sustainable logistics by securing international recognition for its Gujarat-based in-plant railway siding. This initiative has been officially registered as the world’s first Modal Shift Transportation Project under Verra’s Verified Carbon Standard (VCS) programme. By transitioning vehicle dispatches from road to rail – a considerably more efficient and environmentally friendly mode of transport – the company is establishing a new benchmark in the sector.

The project is estimated to generate approximately 170,000 carbon credits over a 10-year period, spanning from the fiscal year 2023–24 to 2032–33. These emission reductions were calculated using the AM0090 methodology, which aligns with the Clean Development Mechanism of the United Nations Framework Convention on Climate Change. Following a rigorous independent verification of the carbon savings, Verra will officially issue the credits to Maruti Suzuki under its VCS programme.

Beyond its environmental impact, this initiative supports several United Nations Sustainable Development Goals. It notably contributes to Good Health and Well-being (SDG 3), fosters Decent Work and Economic Growth (SDG 8) and takes concrete action on Climate Change (SDG 13), demonstrating a comprehensive approach to sustainable development.

Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India Limited, said, “This is a proud moment for Maruti Suzuki as our Gujarat in-plant railway siding is recognised as the world’s first Verra-registered Modal Shift in Transportation project. By transitioning vehicle movement from road to rail, the project demonstrates how scale, operational efficiency and environmental responsibility can seamlessly go hand in hand. Leveraging the inherent efficiency of rail transport, the Gujarat in-plant railway siding has significantly reduced the carbon footprint of our logistics operations while also easing road congestion and lowering overall fossil fuel consumption. We are honoured by the recognition from Verra. This milestone marks a significant step forward in our sustainability journey and reinforces our commitment to setting industry benchmarks that align with India’s strong steps towards net zero emissions.”

Comments (0)

ADD COMMENT

Link Copied!

Audi has announced a significant new three-year agreement with Silverstone, beginning in 2026, that establishes the manufacturer as the circuit's Official Car Partner. This strategic alliance unites two iconic entities deeply rooted in motorsport, both celebrated for their dedication to high performance, cutting-edge engineering and creating exceptional experiences.

Under the partnership, Audi will supply a fleet of its luxury vehicles to support VIP transport during major events, most notably the Formula 1 British Grand Prix. This will ensure guests enjoy premium comfort and performance throughout their time at the venue. The collaboration extends to fan engagement, with Audi vehicles becoming a key component of the Silverstone Drive Experiences. This will offer enthusiasts the unique opportunity to drive Audi’s high-performance RS 3 model on the legendary Formula One circuit. Furthermore, Audi will take on the role of Official Pace Car Partner for selected race meetings, underscoring the synergy between the two performance-oriented brands.

The timing of the announcement is particularly poignant, coinciding with a pivotal moment in Audi’s motorsport history as it prepares to enter Formula 1 with the Audi Revolut F1 Team. This new chapter builds upon Audi’s illustrious and diverse legacy of competition, which spans the World Rally Championship, endurance triumphs at Le Mans, success in global GT series and recent victories at the gruelling Dakar Rally. Silverstone itself boasts a rich history, having been at the epicentre of global racing for over 75 years.

By merging their respective heritages of innovation and excellence, this collaboration promises to enhance the visitor experience at the Home of British Motorsport while creating unforgettable moments for fans. It represents a forward-looking alignment between two brands dedicated to pushing the boundaries of performance.

José Miguel Aparicio, Director, Audi UK, said, “This partnership represents a powerful synergy between two iconic brands. As Audi enters Formula 1 with the Audi Revolut F1® Team, aligning with Silverstone is a natural step. Together, we will deliver outstanding experiences for fans and customers, showcasing Audi innovation, performance and progressive design at one of the world’s most famous motorsport venues.”

Rachel James, Head of Partnerships at Silverstone said, “We are proud to welcome Audi as our Official Car Partner. This partnership will give our fans the opportunity to explore the Audi brand for themselves. Audi will enhance the Silverstone experience at every level, from VIP transport to Drive Experiences and on-track presence as our Official Pace Car Partner.”

Comments (0)

ADD COMMENT

Link Copied!

Stoneridge, Inc. has announced the retirement of Jim Zizelman, President and Chief Executive Officer, effective 20 May 2026, who will be succeeded by Natalia Noblet, the current President of Stoneridge Electronics, as part of a planned transition. The Michigan-based company is a global supplier of safe and efficient electronic systems and technologies.

Zizelman will remain in his current role until 31 March 2026, before moving to a position as strategic advisor. Noblet will assume the role of President and CEO and join the Board of Directors on 1 April 2026. Zizelman will also stand for re-election to the board at the 2026 Annual Meeting of Shareholders.

Jim Zizelman joined Stoneridge in 2019 and became CEO in January 2023. His tenure included the transformation of product lines within the Control Devices segment – which the company recently sold – and an expansion of the technology portfolio focused on electrification and mobility.

Natalia Noblet joined the company in September 2024. During her time as president of Stoneridge Electronics, the segment secured contracts for the MirrorEye Camera Monitor System platform. Noblet previously spent 20 years at WABCO and ZF, where she held senior leadership roles in operations and procurement.

The transition follows the sale of the company's Control Devices segment. Stoneridge is now focused on its Electronics and Orlaco segments, prioritising technologies for vehicle safety and efficiency. Noblet will oversee the company's global operations, procurement and manufacturing footprint.

Bill Lasky, Chairman of Stoneridge’s Board of Directors, said, “Succession planning is a key priority for our Board and this transition reflects our commitment to leadership continuity and long-term value creation during an important period of transformation for the Company following the sale of our Control Devices segment. Over the past year and a half, Natalia has led the Electronics segment with focus and discipline, making this a natural and well-prepared transition. Jim and Natalia will continue to work closely together to ensure a seamless transfer of responsibilities and strategic focus.”

Jim Zizelman, Outgoing CEO, said, “On behalf of the Board, I thank Jim for his leadership and lasting contributions. Under his direction, Stoneridge enhanced its competitive position, advanced its technology roadmap and reinforced a performance-based culture within the Company. We are also pleased that Jim will continue to serve on our Board, where his deep technical knowledge, engineering background and understanding of our business will remain an asset as we move forward.”

Natalia Noblet, incoming CEO, stated, “As the incoming president and CEO, my priority is to deliver outstanding value to our customers and continue working with all of our partners to advance next-generation technologies for safer and more efficient transportation. I am grateful to Jim for his leadership and guidance during this transition and for the strong foundation he has built. I look forward to working closely with our Board, our executive team and our global teams to execute Stoneridge’s strategy, strengthen customer partnerships and drive sustainable, profitable growth.”

Comments (0)

ADD COMMENT

Link Copied!

Rolls-Royce Motor Cars has reached a key milestone in the expansion of its Goodwood facility, officially declaring the new structure fully weathertight. This significant development paves the way for the next stage of the project.

To commemorate the achievement, CEO Chris Brownridge, accompanied by the Board of Directors, personally hand-signed the final wooden louvre installed on the building’s exterior. This element is one of 1,745 such features adorning the 40,000-square-metre structure. Each louvre, measuring 100 by 58 centimetres, is crafted from red cedar. This material was chosen for its durability and its natural ability to age gracefully, developing a soft silver-grey patina that harmonises with the landscape, mirroring the aesthetic of the original adjacent building, which also features red cedar cladding on its front elevation. This ceremonial signing follows a tradition established last year when the directors marked the installation of the final steel beam at the structure's apex.

With the exterior now complete, attention turns to the interior fit-out, managed by Rolls-Royce's specialist in-house teams. A central focus is the development of a new Surface Finish Centre, which will serve as a dedicated paint shop. Concurrently, work will progress on installing advanced equipment and establishing specialised areas tailored for Bespoke and Coachbuild projects.

Representing an investment exceeding GBP 300 million, this expansion is the most substantial financial commitment to the Home of Rolls-Royce since its inception in 2003. It is set to enhance the company's substantial economic contribution, which currently adds over GBP 500 million annually to the UK economy.

Chris Brownridge, CEO, Rolls-Royce Motor Cars, said, “This moment marks the point at which our new extension building becomes fully weathertight, meaning our specialist Technologies can begin the complex, exacting process of fitting-out, in readiness for full operation in 2029. It’s a really pivotal point in the project – a project that upholds the standards and vision of our founder, Sir Henry Royce, and his famous injunction to strive for perfection in everything we do. The Directors and I have also been inspired by his practice of personally inspecting and signing off each new component, giving them his own ‘seal of approval’. Having previously signed off the final element of the structural steelwork, we wanted to do the same for the last of the wooden louvres that now clad its exterior. It’s enormously exciting to see the work progressing with such pace and precision. To have that sense of personal connection with such a significant project through these signing ceremonies is very special for all of us.”

Comments (0)

ADD COMMENT

Link Copied!