Stellantis CEO Carlos Tavares has stepped down due to differences with the board, a news report in the CNN.com (Business) has mentioned. It has also mentioned that Tavares faced criticism for the lack lustre performance of the Group brands – formed with the coming together of FCA and PSA Groups – during the nine months of the current calendar year in the US. 
The announcement of Tavares’ departure comes at a time when popular group brands such as Jeep, Chrysler and Dodge have seen sales drop as the ‘affordable’ models are discontinued under the wake of a ‘lean’ strategy and in what looks like an attempt to elevate the brands to offer premium luxury vehicles. 
In India too, the Jeep vehicles are priced much higher than they may be worthy of. It is no surprise therefore that they are being undercut by Jeep-like vehicles from brands like Mahindra, which costs many million Rupees less. 
Beginning its journey in Mumbai after Independence by assembling Willys CJ3 Jeep under license from Willys Corporation, Mahindra has grown to be a leading utility and SUV vehicles manufacture in India. It has also found a strong footing in export markets of US, Australia and South Africa with its 4x4 vehicles. 
Also failing to extensively refresh or introduce next generation models such as the Compass in India, Jeep is not doing great in India either, the figures indicate. The other brand, Citroen seems to be better positioned and more agile in its ability to learn and adapt to the market requirements in the country. It too is yet to show its prowess to set the sales charts on fire in India.   
Criticised to have taken the lean strategy a bit too far to come back and bite the group where it hurts the most, Tavares’ stepping down comes at a time when dealers across many parts of the world struggle to move the inventory on their lots. 
Several workers laid off at several plants of the group – particularly in the US – have also criticised Tavares for the situation Stellantis got into in that market. 
The situation in other markets is claimed to be not very different either. 
The process to appoint the new permanent CEO is underway with a Special Committee of the Board expected to announce one in the first half of 2025 calendar year, as per the report. A new Interim Executive Committee, chaired by John Elkann, will be established, the report further mentions. 
Global sales volume for the first half of this year fell 10 percent in the case of Stellantis. In the third quarter, it plunged 20 percent. 
With many loyal buyers of Dodge and Jeep vehicles keeping away as the prices have risen way beyond, sales in US have been down by 17 percent in the first nine months of the year. 

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IDFC FIRST Bank has launched an accelerator programme in collaboration with the Pilani Innovation & Entrepreneurship Development Society (PIEDS) at BITS Pilani. This initiative operates under the IGNITE startup incubation programme, which is managed by the bank’s CSR division, FIRST IMPACT. The partnership is designed to foster enterprises that address critical health and environmental challenges.

The programme will provide catalytic grants, incubation, acceleration, mentorship and ecosystem connections to nurture purpose-driven ventures. It aims to strengthen business and investment readiness while promoting sustainable, high-impact solutions. Eight startups from across India have been selected to participate, focusing on climate technology, carbon reduction and removal, AI and machine learning-based healthcare diagnostics, medical devices and assistive technologies.

These selected startups will receive mentorship, business guidance, access to industry experts and investors and performance-linked grants of up to INR 2,500,000 each. The initiative seeks to scale innovative solutions for carbon sustainability and healthcare accessibility. It is also expected to contribute to employment generation and broader sustainable development goals within the country.

Saptarshi Bapari, Head, Investor Relations and ESG, said, “India is witnessing a remarkable wave of entrepreneurship, with innovators building solutions that are shaping a more sustainable, inclusive and resilient future. What many early-stage startups need is the right support at the right time to turn promising ideas into scalable solutions that can create meaningful impact. Through the IGNITE Social Incubation Program, we are supporting startups working in healthcare and climate sustainability, two areas that are critical to the well-being of our communities and the future of our planet. Our partnership with BITS Pilani combines funding, mentorship and access to a strong innovation ecosystem, helping entrepreneurs accelerate their growth and bring their ideas to life. We hope this initiative empowers founders to scale their solutions, reach more people and create lasting positive impact at scale.”

Prof V Ramgopal Rao, Vice-Chancellor, BITS Pilani, said, “BITS Pilani has spent five decades building an entrepreneurial ecosystem, with impact across all sectors and geographies. We are excited to launch IGNITE to deliver measured community impact across Health and Climate – partnering with IDFC FIRST Bank allows us to apply that discipline to two sectors where India's need is most urgent.”

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The Federation of Automobile Dealers Associations (FADA), the apex national body of automobile retail in India, has announced the appointment of Sai Giridhar as its President. He is the 38th President of the organisation and will be in chair for FY2026-27 and FY2027-28. The decision was made at the 323rd Governing Council Meeting, held immediately pst the 62nd Annual General Meeting.

The Managing Director of Saisha Motors Pvt Ltd, Jaipur, Giridhar has been in the auto business for over 30 years. He operates Skoda, Volvo Cars, JSW MG and MG Select dealerships and started his journey in 1995 with a Daewoo dealership in Jaipur. He has served for long as the Secretary of the Authorised Motor Association of Rajasthan for the past 10 years and has been associated with FADA for more than 10 years, holding posts of State Chairperson of Rajasthan for four years before getting inducted in central leadership team.

Besides Giridhar, the FADA Governing Council also elevated Amar Jatin Sheth, Managing Director, Shaman Group as the Vice President. Pradeep Agarwal, Managing Parter, JMG Group, has taken over as the secretary. Bharat Kumar Chordia, Managing Director, Khivraj Motors, has taken over as the treasurer for FY2026-27 and FY2027-28.

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VSL PowerHive Pvt Ltd has unveiled the P261, a liquid-cooled battery storage system rated at 125 kW/261 kWh, targeting industrial and commercial customers in India and other global markets. The announcement represents the company's first official product launch under its own branding, distinguishing it from the earlier VION offering. This move positions the Vikram Solar subsidiary for accelerated growth in the competitive energy storage arena.

The newly introduced unit tackles operational requirements including emergency power provisioning, load smoothing during expensive tariff periods and maximised solar generation utilisation. Additional functions include curtailment of diesel generator usage, stabilisation of power quality, accommodation of EV charging points and enabling of microgrid networks. By drawing upon Vikram Solar's production capabilities, the company intends to serve clients navigating different phases of decarbonisation.

Compact cabinet construction combines with active liquid thermal management to preserve electrochemical stability and prolong service life relative to air-cooled designs. A built-in controller provides live system oversight and off-site troubleshooting, complemented by automated extinguishing mechanisms and redundant protection circuits. The modular layout permits future augmentation and merges photovoltaic inputs, mains connectivity, storage hardware and EV supply under one operating platform.

Embedded within the chassis is a 261 kWh lithium iron phosphate core with 832V nominal voltage and 314 Ah cells, facilitating rapid energy exchange in both grid-tied and standalone modes. Functional operation spans from -30°C to 50°C, with an IP52S enclosure safeguarding against particulate and moisture ingress. Practical benefits include diminished demand charges, intelligent solar shifting and resilient backup during grid failures. The system also supports fuel savings, fast-charging rollouts and power conditioning across distributed and bulk applications. Through the P261, VSL PowerHive addresses surging C&I storage demands while signalling future expansion across diverse market tiers.

Arun Mittal, CEO, VSL PowerHive Pvt. Ltd., said, "India's industrial and commercial sectors are ready for storage solutions that actually work for their needs, and the P261 answers that call. Bringing this to market as our first official product under PowerHive is a significant step, and there's much more in the pipeline."

Gyanesh Chaudhary, Chairman and Managing Director, Vikram Solar, said, "India’s energy transition is entering its most decisive phase, and storage will determine how fast and how far we go. With the P261, PowerHive moves from concept to commercial reality, built on the same manufacturing discipline and quality rigour that have defined Vikram Solar’s journey in solar. This is more than a product launch; it is the foundation of a business we intend to scale with real ambition as we work towards building PowerHive into a full-fledged storage solutions provider serving India and global markets in the years ahead."

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European auto major Stellantis has announced leadership changes within its Enlarged Europe organisation, effective 1 September, as part of the execution of its Fastlane 2030 strategic plan. The newly appointed executives report directly to Emanuele Cappellano, Chief Operating Officer (COO) for Enlarged Europe.

The company has announced that Arnaud Belloni will take on the role of Chief Executive Officer of the FIAT, Abarth and Lancia brands, alongside taking on the role of Chief Marketing Officer for Europe. He returns to Stellantis, where he previously spent 16 years managing marketing strategy for its Italian and French brands, after serving as global Chief Marketing Officer and Chief Branding Officer at Renault Group. He succeeds Olivier Francois, who will assist with the leadership transition through mid-October before taking up a role as a company strategic advisor.

Among other executive changes, Xavier Chardon has been appointed CEO of DS Automobiles while retaining his responsibilities for Citroen. Xavier Peugeot has been named Head of the Jeep brand in Europe, a newly created position focused on product, marketing and sales development within the European market. Meanwhile, Roberta Zerbi will focus on customer journey excellence and network development.

Under the reorganised Commercial Operations Enlarged Europe division led by Maurizio Zuares, Gaetano Thorel assumes responsibility for Enlarged Europe Lancia alongside his current duties for FIAT and Abarth, reporting functionally to Belloni. Laurent Diot takes responsibility for Enlarged Europe DS Automobiles alongside Citroen, reporting functionally to Chardon. Fabio Catone remains responsible for Enlarged Europe Jeep, Ram, and Dodge brands, with a functional reporting line to Peugeot.

Emanuele Cappellano, COO, Enlarged Europe, said, “These appointments mark another important step in accelerating the execution of our Fastlane 2030 strategic plan. They establish the foundations for a European marketing vision centered on creativity and innovation, reinforce Jeep’s growth through dedicated leadership, and clarify the positioning of Lancia and DS Automobiles as specialty brands, preserving their distinctive identities while strengthening integration with FIAT and Citroen, respectively. I would like to congratulate Arnaud as he joins Stellantis, together with all the colleagues taking on new and more challenging responsibilities. I am confident that each of them will play a vital role in delivering these strategic priorities. I would also like to thank Olivier for his outstanding contribution to the Company over more than 30 years managing iconic brands and shaping communication as Global Chief Marketing Officer. Olivier has embodied the perfect balance between dedication and empathy, combining a proactive mindset with unconventional spirit that truly sets exceptional creative leaders apart. I am sure we will take advantage from his expertise as a strategic advisor to our Company”.

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