JK Tyre & Industries Ltd (JK Tyre) has reported a PAT of INR 570 million in its unaudited results for the third quarter of FY2024-25. The company recorded revenues of INR 36.9 billion in the respective quarter and an EBITDA of INR 3.35 billion. The EBITDA margin was 9.1 percent and the PBT of INR 80 million. 
Commenting on the results, Dr Raghupati Singhania, Chairman and Managing Director, JK Tyre, stated, “JK Tyre witnessed a healthy growth in the Replacement market during the Quarter. Rising raw material cost, particularly in natural rubber impacted the margins, which was to an extent addressed by certain price revisions and cost optimization. Looking ahead, demand in the replacement market is promising, and the OEM sector is on a recovery path. Moreover, export markets offer new opportunities, given the Rupee/Dollar parity.”
Focusing on premiumization of its product range across segments, which will help profitability, JK Tyre is also digitally transforming itself. In this direction, the company recently established a Digital & Analytics Centre of Excellence (DnA COE), which should help strengthen data driven operational efficiencies and innovation.
JK Tyre’s subsidiaries, Cavendish Industries Ltd. (CIL) and JK Tornel, Mexico, continues to make healthy contributions to the overall revenues and profitability of the Company.
 

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LTM, an AI-centric global technology services company and part of the Larsen & Toubro Group, has issued an offer to acquire Randstad’s Technology and Consulting Services business across France, Germany, Belgium, Luxembourg and Australia.

The transaction represents more than USD 500 million (EUR 469 million) in annual revenue and is intended to scale domain-driven solutions and AI services within these regions.

The proposed acquisition will expand LTM’s market presence in the aerospace, defence, automotive, utilities and banking and financial services (BFS) sectors. The integration is expected to bring localised domain expertise and regional capabilities in digital engineering, cybersecurity and the Internet of Things (IoT). These operations will be supported by onshore and nearshore delivery centres located in Romania and Portugal.

The transaction is part of a broader collaboration between the two companies. This includes a five-year IT services partnership to drive AI-enabled transformation for Randstad’s Global Capability Center in India, alongside a strategic talent Managed Services Provider (MSP) agreement to support LTM’s expanding workforce.

The acquisition will be executed through LTM’s wholly owned subsidiary, LTIMindtree UK and remains subject to regulatory approvals and customary closing conditions.

Venu Lambu, CEO & MD, LTM, said, “The proposed agreement is aligned with our five-year strategy to build a more resilient, diversified, balanced portfolio. By combining our global AI-centric capabilities with local context and industry depth, this acquisition would strengthen our ability to deliver compliant, domain-driven AI services and sovereign solutions in markets that are strategically important to us. This 360°partnership with Randstad would be a key step forward in our growth journey.”

Sander van ‘t Noordende, CEO, Randstad, added, “The proposed agreement marks a deliberate step in our Partner For Talent strategy. By partnering with LTM, we would ensure our clients continue to receive world-class services while we streamline our portfolio to invest in growth segments and digital marketplaces that offer the most scale and value. We are equally excited to partner with LTM in India, where their AI expertise will be instrumental in evolving our digital capabilities.”

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European auto major Stellantis has unveiled its FaSTLAne 2030 strategy, which will see it invest around EUR 60 billion over the course of the next five years.

The aim is to accelerate growth and profit, prioritising customer centrality and capital allocation across its global regions and brands.

Antonio Filosa, CEO, Stellantis, said, “FaSTLAne 2030 is the result of months of disciplined work across the Company and is designed to drive long-term profitable growth. With the customer at the centre of everything we do, the plan will deliver our purpose – ‘to move people with brands and products they love and trust’ – powered by our unique combination of strengths.”

The strategy focuses on an overhaul of the brand portfolio to improve capital efficiency, leading to more than 60 vehicle launches and 50 refreshes by 2030. The company will direct 70 percent of its product investments towards its four global brands – Jeep, Ram, Peugeot and FIAT – and its commercial vehicle unit, Pro One.

Its regional brands, including Chrysler, Dodge, Citroen, Opel and Alfa Romeo, will share global assets, while DS and Lancia will be managed as specialty brands. Maserati will add two vehicles to its lineup.

Filosa noted, “Every brand in Stellantis will play a clear role in delivering our FaSTLAne 2030 commitments.”

Stellantis will allocate over EUR 24 billion to global platforms, powertrains and technologies, including the new STLA One architecture. By 2030, half of its annual volumes will be produced on three global platforms. The company will also deploy its software and autonomous driving architectures – STLA Brain, STLA SmartCockpit, and STLA AutoDrive – starting in 2027.

The plan incorporates new and expanded corporate partnerships to access markets and share manufacturing capacity.

Through Leapmotor International, Stellantis will share capacity at its Madrid and Zaragoza plants in Spain. A joint venture with Dongfeng will produce Peugeot and Jeep models for China, while a European joint venture with Dongfeng will handle distribution and capacity sharing at the Rennes plant in France.

Stellantis is also working with Tata Motors to improve supply chain synergies in the Asia-Pacific, Middle East, Africa and South America regions, and will explore technology collaboration with Jaguar Land Rover in the United States.

Manufacturing capacity utilisation will be adjusted across regions, with European capacity expected to decrease by more than 800,000 units to raise utilisation from 60 percent to 80 percent by 2030. US capacity utilisation is also projected to reach 80 percent by 2030.

To improve execution, Stellantis aims to reduce vehicle development cycles to 24 months and implement a Value Creation Program to cut annual costs by EUR 6 billion by 2028.

“The success of FaSTLAne 2030 is built upon the great talent and strong commitment of our Stellantis team. We will execute as one team, hands-on, to deliver incremental, profitable growth for the benefit of all our stakeholders,” added Filosa.

Regional targets under the plan include 25 percent revenue growth in North America, supported by 11 vehicles. Enlarged Europe targets 15 percent revenue growth, featuring a new generation of electric vehicles built at the Pomigliano d'Arco plant in Italy. South America aims for 10 percent revenue growth via a pickup offensive, while the Middle East and Africa targets 40 percent revenue growth through local manufacturing. The Asia-Pacific region will focus on asset-light growth to support export requirements.

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Eicher Motors (EML) and the Volvo Group have announced their intent to form a new 50:50 joint venture to provide financing, leasing and other financial services in India.

The partnership will be established through EML acquiring a 50 percent stake in Volvo Financial Services (VFS) India. Eicher Motors' board has approved an investment of up to INR 7.5 billion to subscribe to the equity stake. The exact investment amount will be finalised upon the closing of the transaction, which is subject to regulatory approvals.

The new joint venture will serve as the captive financing arm for products from Volvo Eicher Commercial Vehicles (VECV), Eicher Motors, Volvo Group and Royal Enfield. By combining VFS’s global financial services expertise with Eicher’s local market knowledge, extensive dealer network and product portfolio, the venture aims to offer more accessible and streamlined financing solutions to customers.

Siddhartha Lal, Chairman, Eicher Motors, said, "Expanding our highly successful 18-year partnership with Volvo Group, Eicher is now entering the vehicle financing business in India through a new joint-venture. This JV combines Volvo’s global financial services expertise and Eicher’s local knowledge and network. The JV will serve Eicher, Volvo, and Royal Enfield customers in India and presents an opportunity for EML to operate in an important segment of the value chain, using financing as a lever for a superior customer experience."

Marcio Pedroso, President, Volvo Financial Services, added, "We believe now is the time to sharpen our focus on the Eicher brand as well, with our intended partnership serving as a springboard for bringing innovative financial services and solutions to both current and new customers and dealers, positioning us well to create long-term value in the growing Indian market."

This joint venture builds upon the long-standing collaboration between Eicher Motors and Volvo Group, which has successfully operated Volvo Eicher Commercial Vehicles (VECV) for the past 18 years. VFS India has been operational in the market for over a decade and reported assets under management (AUM) of approximately INR 18.25 billion as of 31 March 2026.

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MANN+HUMMEL has inaugurated its new Global Technology & Innovation Center in Tumkur, Karnataka. This facility serves as the company's largest development hub outside of Germany and is designed to accelerate global product development for mobility, industrial and purification applications.

The centre integrates research laboratories, testing infrastructure, digital engineering and data analytics. The company intends for this site to function as an innovation engine, leveraging India's engineering talent to shorten development timelines.

Additionally, MANN+HUMMEL announced plans for a new manufacturing facility in Pune. The company expects total investments across these initiatives to exceed INR 1 billion. Currently, the company employs approximately 1,250 people in India, with plans to add 300 to 400 more positions over the next year.

With existing operations in Tumkur and Bawal, and the upcoming site in Pune, the company is establishing a manufacturing footprint across Southern, Northern, and Western India to improve proximity to customers. Interestingly, India currently hosts over one-third of the company’s global R&D workforce.

Hasmeet Kaur, President of the Transportation Division, MANN+HUMMEL Group, said, “The new Global Technology & Innovation Center in India marks a significant milestone in MANN+HUMMEL’s global innovation journey. India stands at the forefront of engineering talent and technological advancement, making it a natural choice for our largest development hub outside Germany. This centre will not only accelerate our innovation capabilities but also enable us to deliver scalable, sustainable filtration solutions to customers worldwide.”

Sudeesh Karimbingal, Managing Director, MANN+HUMMEL India, added, “The new facility in Tumkur is a testament to India’s growing role as a strategic growth and engineering powerhouse for MANN+HUMMEL globally. For over 20 years, our Indian engineering team has been deeply embedded in our global product development. This centre transitions India from a support hub to a strategic engineering powerhouse, driving innovation that meets both local and global market needs.”

The Tumkur facility will prioritise – energy-efficient filtration systems, reduction of lifecycle emissions and circular economy solutions, including the use of recycled materials.

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