Q: What is your contribution to testing new energy vehicles – Battery Electric Vehicles and Hybrids? Please elaborate on the testing equipment you have for these vehicles?

Arora: As a B2B startup that enables its customers to maximize the capacity of the battery pack, and improve battery life and safety, we run elaborate tests on Battery Management Systems on all of our BMS designs. These BMSes have been deployed by ION’s customers on a fleet of batteries that go inside two / three-wheelers, passenger and commercial vehicles, and industrial electric vehicles.  Our cloud analytics platform, Edison, helps our customers visualize the data coming out of these tests and generate insights. In a bid to counter the challenge of costly industrial equipment, we have developed battery emulators, end of line testing equipment and HIL (Hardware-in-the-loop) setup, in house at about a minimal 10 percent cost of the commercial market rate. We have also built a gaming engine based simulation engine called the ‘Ghost Rider’ that runs simultaneously with our battery models. The simulation helps us integrate our BMS algorithms to vehicles models and monitor the performance of those models in life like situations.

Q: Can you tell us briefly about your overall portfolio of BMS testing equipment and a bit about your company?

Arora: Quality Assurance (QA) and Testing are the most important phases in the life cycle of BMS since the success of this phase dictates the level of safety and the management of the battery’s life. As a startup, we have adopted a lean and creative approach with our testing methodologies. We have a number of indigenously developed tools and software for testing of our batteries. Once the hardware design of the BMS is finalized, the prototypes are validated for their basic functionalities. The prototypes are further optimized based on the functionality and additional features that develop the hardware. When all the modifications are completed, the BMS is validated for its functionalities at different environmental conditions. Based on the data collected in the previous step an ‘operating range’ is defined.

Similar to the hardware, the software is also tested on the prototype BMS hardware. Based on the outcomes and new requirements, the iterations are made to tailor the firmware for its optimum performance and management of battery life and safety. Once the desired results are obtained, the firmware is finalized and deployed in the BMS. The prototype is then sent to external independent laboratories for EMI / EMC tests, basis whose clearance, the hardware and the firmware are again validated, and the design is finalized. In the manufacturing stage, ION Energy conducts as Automated Optical Inspection (AOI) testing is more reliable than manual visual inspection. In the final stage of the manufacturing process, the Design for Manufacturing (DFM) files are used for the component assembly process. Testing is necessary to avoid any incorrect component placement issues. Testing during this stage is typically more intensive than during the fabrication phase.

End-of-Line Testing measures and checks the functionality of ION’s battery management systems. The key factors taken into consideration at ION are high test quantity, test completion and low system with upgrade costs. At ION, we have built an automated testing platform called the ION Testmaster, built specifically for performing automated Functional Circuit Test (FCT) on ION’s BMSes. In the latest update, the ION Testmaster is interfaced with Edison Analytics for accurate and real-time inventory management using the MNP/serial number of the DUT, in this case, the BMS.

Q: A lot of players claim that they build technologies to enhance the life and performance of lithium-ion batteries. What is the USP of ION Energy?

Arora: It's worth noting that oftentimes when organizations emphasize on enhancing the life and performance of a battery, reliability takes a backseat. In a market like India that is still in a nascent stage, ION Energy is one of the very few players that offers reliable and tested solutions, making it our USP. ION Energy is an advanced battery management and intelligence platform that was born out of the desire to tackle the threat of climate degradation by enabling a much more environment-friendly mobility solution. Founded in 2016, ION’s mission is to accelerate Earth's transition to an all-electric planet. We are doing this with a focus on building technology that improves the life and performance of lithium-ion batteries, which power electric vehicles and energy storage systems.

ION’s full-stack solution blends advanced electronics and machine learning with deep domain expertise in energy storage. ION’s disruptive battery intelligence platform - Edison Analytics leverages battery data, software analytics, and ML to significantly improve battery performance and extend battery life by up to 40 percent. Battery Makers & OEMs around the world use ION’s platform to optimize their battery management systems (BMS) and build world-class batteries. ION Energy is leaps ahead when it comes to leveraging data. In a bid to enhance life and performance, ION Energy has a fully integrated stack with Battery Design Engineers, BMS Design Engineers and Software Engineers learning from insights captured by our cloud platform - Edison.

Q: In Evs the packaging is key and anything lighter is the most sought after by the OEMs. What are the contributions from your end on these expectations?

Arora: The battery usually comprises 25-30 percent of the weight of electric vehicles. There is always a tradeoff between the weight and size of the battery, vis-a-vis the range it offers. A bigger battery offers a higher range, but it also adds to the weight of the vehicle - reducing its energy efficiency. It is crucial to achieve the right balance in this trade off - and that needs a deep knowledge and understanding of the application, usage and the environment of the battery packs. At ION Energy, we have tools that can help OEMs find the right size for its battery packs.

Q: How do you see the increasing electronics and vehicles becoming more connected in EV space too? What sort of solutions do you give? Please elaborate.

Arora: The global automobile industry is on the brink of a major transformation. The Global Connected Car Market size is projected to reach USD 212.7 billion by 2027, from an estimated value of USD 42.6 billion in 2019, at a CAGR of 22.3 percent - as predicted by Markets and Markets. Technology is driving this shift, shaped by demographic, regulatory, and environmental pressures. Other factors include - consumer tech companies entering the automotive world, as software and other technologies, are taking a pivotal position in the future of automobiles. These businesses want to focus on design, ease of use, better service and extended battery life to bring new kinds of innovation to the field

Shared Asset Utilization requires companies to leverage advanced IoT, Battery Management & Driver Profiling to improve asset sweating, protect the lifetime of the asset, and ensure financial viability. This will have powerful effects beyond the auto industry. Insurers, for example, will have new ways to monitor driver behavior, reward good drivers, and distribute costs to bad ones. Companies can better connect idle cars with customers that need them. Continuously improving UX is becoming a norm, not only in mobile phones but also EVs. OTA updates that extend range, improve charging time and boost speed are a reality today. Companies with the technical capability to package world-class technology, UX and affordable pricing will win in the future of mobility. The growing battery swapping ecosystem for two / three-wheelers in Asia is one of the best examples of the shift in the transport sector brought about by EVs and connected electronics. It gives end-users the option to lease batteries and pay per km, instead of paying all the battery costs upfront. This is only possible because of connectivity between the batteries, the vehicles, the users and the swapping station.

Shared utilisation of batteries is possible only because of integrated battery management and telematics functions. It is important to track the location, usage and the state of the battery - all at the same time - to be able to charge users accordingly. ION has a lot of experience in building integrated Battery Management and Telematics Units for batteries and swapping stations. Our BMSes have GPS sensors and LTE modems integrated with battery management functions. We are able to send real time data to our cloud that enables monitoring and optimization of asset utilization.

Our BMSes - FS-CT, FS-LT, and FS-XT - are equipped with on-board memory storage to log every data point of the battery pack collected by the BMS, up to 20 years of historical battery data. Normally this would lead to an enormous amount of data, but we've developed compression algorithms tailored for battery data acquisition. The BMS records all physical parameters, events, errors relating to the performance of the battery pack. Our cloud-connected battery intelligence platform, Edison Analytics, allows engineers to access this data and gain insights into the life and performance of the battery. (MT)

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Automotive wholesales for May 2025 showcased a dynamic landscape for the Indian automotive industry, with OEMs experiencing distinct sales trajectories. From significant growth in the two-wheeler segment to some PV makers facing headwinds, the month provided an indicative picture of shifting consumer preferences and market conditions.

Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, dispatched 507,701 motorcycles and scooters in May 2025, showing both sequential and annual growth. The company maintained strong market momentum with 500,000 VAHAN registrations.

Hero MotoCorp's global retail performance also showed robust momentum, particularly in Bangladesh and Colombia, with exports maintaining a steady trajectory. The electric vehicle brand, VIDA, powered by Hero MotoCorp, delivered growth with dispatches of 8,361 units and 7,161 VAHAN registrations for the VIDA V2 electric scooter range, achieving a 7.2 percent VAHAN market share.

Honda Motorcycle & Scooter India (HMSI) recorded total sales of 465,115 units in May 2025. Domestic sales for HMSI stood at 417,256 units. The company's exports contributed 47,859 units to the total sales figure.

TVS Motor Company demonstrated impressive overall sales growth in May 2025, increasing by 17 percent to 431,275 units from 369,914 units in May 2024. Domestic two-wheeler sales registered growth of 14 percent, increasing from 271,140 units in May 2024 to 309,287 units in May 2025. Motorcycle sales saw a 22 percent increase to 211,505 units, scooter sales grew by 15 percent to 166,749 units and electric vehicle sales surged by 50 percent to 27,976 units. The company's international business (exports) also saw growth of 22 percent.

Royal Enfield experienced a significant surge in May 2025, posting monthly sales of 89,429 motorcycles, marking a robust 26 percent increase compared to the same month last year. The company's domestic sales contributed significantly to this performance. A key driver for this growth was the outstanding performance in exports, which soared by 82 percent to 13,609 motorcycles, up from 7,479 units in May 2024.

Maruti Suzuki India, the country’s largest passenger vehicle maker, reported total sales of 180,077 units in May 2025, demonstrating a 3.17 percent growth compared to 174,551 units sold in May 2024. Domestic sales, including Light Commercial Vehicles (LCV), stood at 138,690 units, experiencing a 5.46 percent decline from 146,694 units in May 2024. Sales to other OEMs also saw a marginal dip of 3.07 percent, reaching 10,168 units in May 2025. Conversely, exports surged by 79.76 percent YoY, totalling 31,219 units in May 2025 compared to 17,367 units in May 2024. Within passenger vehicles, while the Mini and Compact segment saw a decrease in sales, the Utility Vehicles segment demonstrated slight growth.

Tata Motors presented a contrasting picture, with total sales in the domestic and international markets for May 2025 standing at 70,187 units, a decline from 76,766 units in May 2024. Domestic sales for Tata Motors were 67,429 units, with Commercial Vehicle (CV) domestic sales at 25,872 units (a 9 percent year-on-year decrease) and Passenger Vehicle (PV) sales at 42,040 units (an 11 percent decline). In terms of international business for commercial vehicles (CV IB), Tata Motors saw a significant increase of 87 percent to 2,275 units.

Hyundai Motor India (HMIL) reported total monthly sales of 58,701 units in May 2025. Domestic sales for HMIL were 43,861 units. The company noted that the availability of some critical models was impacted due to a scheduled biannual plant maintenance shutdown during the month. Export sales for HMIL reached 14,840 units.

Mahindra & Mahindra, the SUV specialist, reported robust sales performance in May 2025, with overall auto sales reaching 84,110 vehicles, marking a significant 17 percent YoY growth. This was largely driven by the Utility Vehicles (UV) segment, which saw domestic sales rise by 21 percent to 52,431 units, contributing to a total of 54,819 UVs sold including exports. The commercial vehicles segment also performed well domestically, recording 21,392 units. Exports saw exceptional growth, surging by 37 percent to 3,652 units in May 2025.

Toyota Kirloskar Motor (TKM) continued its positive sales momentum in May 2025, reporting a total of 30,864 units sold, a 22 percent growth over May 2024. Domestic sales played a crucial role, reaching 29,280 units. The company also contributed to exports with 1,584 units.

Kia India maintained its strong growth trajectory for the fifth consecutive month in May 2025, dispatching 22,315 vehicles in the domestic market. This performance reflects a healthy 14.43 percent year-on-year growth when compared to the 19,500 units sold in May 2024.

Ashok Leyland saw a 5 percent increase in its total domestic vehicle sales in May 2025, reaching 14,534 units, up from 13,852 units in May 2024. This growth was primarily driven by its Medium and Heavy Commercial Vehicle (M&HCV) segment, with M&HCV Trucks increasing by 12 percent to 7,466 units and M&HCV Buses growing by 1 percent to 1,920 units. Light Commercial Vehicle (LCV) domestic sales experienced a slight decrease of 3 percent to 5,148 units.

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Reporting a revenue of over INR 500 billion for the first time, up 12 percent year-on-year, on the basis of automobiles are spares in FY25, Bajaj Auto Ltd has revealed that volumes rose seven percent YoY during the respective period with a strong performance in the first half and a relatively soft performance in the second half.

Observing a solid rebound (double digit volume and revenue growth) in exports, the Pune-based company earned an all-time high EBITDA of INR 101 billion, up 14 percent YoY. PAT also hit a new record at over INR 80 billion. With a revenue of around INR 55 billion from electric vehicles (20 percent of its domestic), the company, with a full PLI certified portfolio, underlined its organisation agility and adaptability with significantly improved unit economics in a journey spanning over the last three years.

With the refreshed Duke 200/250 and the new Adventure 390, the KTM portfolio of Bajaj Auto experienced strong momentum in FY25. Also the Triumph motorcycle portfolio with sales up 60 percent YoY. The KTM and Triumph motorcycles sold one lakh units domestically

The commercial vehicles portfolio of the company comprising mainly of three-wheelers saw a revenue increase of over INR 100 billion. It combined the tradition ICE vehicle business and the newly developed electric vehicle business. The launch of GoGo electric three-wheeler and a wide network of over 850 dealerships helped to increase the momentum.

Image for representative purpose only. 

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Disruptive events such as the Red Sea crisis and the Russia-Ukraine war have caused a need to have a closer look at the role of Chief Financial Officers (CFOs). A renewed approach demands that CFOs act as a change catalyst within the automotive supply chain to tackle future hurdles. To ensure stability in the Indian automotive industry filled with technological advancements, especially in alternative energy vehicles, CFOs are acting as co-pilots of transformation in the Indian automotive supply chain, opined Former Additional Secretary of the Department of Commerce, Government of India, Anand Swarup, during the ACMA CFO and Supply Chain Conference on 28 May 2025, in New Delhi.

The event brought to the forefront discussions on how the role of CFO’s has been changing over the year and saw participation from speakers from different organisations, including Maruti Suzuki India CFO Arnab Roy, among others. 

The speakers highlighted the evolution of customer demands, market dynamics and innovation due to the volatile business environment. Speaking at the event, Partner and National Auto Tax Leader at EY India, Saurabh Agarwal, said, “The CFO no longer works as an accountant, but dons multiple hats such as a risk manager and a strategic partner for resilience.”

“The leader must focus on execution and being agile in a dynamic environment to build strong relationships with other departments and ensure faster time to market. Staying agile will help an OEM to better handle changing customer demands and be able to introduce new features and variants faster,” he added.

Enumerating how flexibility helps the CFO devise strategies for optimising auto production, managing risks and adapting to supply chain disruptions, Roy said, “Real-time decisions must be made in today’s volatile world. As a result, the CFO’s role is now expanding to cover a gamut of subjects such as sustainability, location strategy and choice of appliances. Since we are within a multi-dimensional environment at present, the CFO’s role is moving from a cost controller to a continuity architect.”

Further describing the changing role of a CFO in a volatile uncertain complex and ambiguous world, it was discussed that CFOs must act as change catalyst in the automotive supply chain. While enumerating the above, Anant Swarup said, “The CFOs are not naysayers and their image of being cost-cutting agents is gradually changing. They are supply chain whisperers and co-pilots of transformation. Data-driven risk modelling helps them make accurate future decisions and turns them into participative entities.”

The current world scenario mandates a CFO’s financial expertise to assess vendor performance, identify cost-saving opportunities and process improvements, analyse costs and mitigate supply chain risks. Alluding to the same, Roy explained, “The CFO can build a resilient supply chain through cash visibility and crisis foresight. Relocation with risk-adjusted precision is necessary as it helps prepare risk-adjusted return-on-investments models for various situations. The CFO must also build redundancies and incorporate inventory industrial planning into the company’s business plan. As the world de-globalises due to geo-political scenarios, auto manufacturers are being forced to reassess their supply chains.”    

“Seventy-five percent of automotive revenue is attributable to raw materials. Supply chain management provides a competitive edge. Yet another role for the CFO would be to optimise capital for crisis situations that may include geopolitical shifts,” Roy added.  Speaker Sunil Bohra, CFO, Uno Minda Group, while describing how CFO’s act as change catalyst in automotive supply chain, said, “Every automotive plant in India produces roughly 14,000 parts.” He explained that supply chain management must account for cost control and operational efficiency, leading to effective allocation of resources, high profitability and less waste. It is the supply chain-CFO partnership that decides the future of automotive companies and manufacturers.

Though geo-political scenarios are predominantly uncertain, CFO’s have the arsenal to make calculated decisions for mitigating risks. EY India Partner, Tax, Pankaj Jain, explained, “When changes happen at the geo-political level, we must take some calls. For example, one such concept could be focusing on developing tier II and tier III vendors in India.”

The speakers also discussed on how discipline and immense hard work during the entire shift has helped China reach where it is in the auto manufacturing sector. Highlighting the Indian scenario vis-a-vis China, President- Finance and Strategy at Minda Corporation, Ajay Agrawal, said, “India must stop trying to beat China in the manufacturing industry right now since we have only been in the supply chain business for 2-3 years. The best way forward is for us to partner with China.”  

A smart supply chain-CFO partnership is possible through digitalisation. The CFO's role today has undergone a paradigm shift, making him a partner of strategic convergence across the supply chain, finance and digitalisation as the partnership is no longer just an operational topic.

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Gurgaon-headquartered BMW India Financial Services, the subsidiary of the BMW Group, which focusses on retail finance, commercial finance and insurance solutions, has appointed Andreas Modlmayer as the new Managing Director and Chief Executive Officer.

He succeeds Jaejoon Lee, who successfully led the company as a leading end-to-end automotive financial solution for the BMW brand in the country.

Modlmayer has been associated with the BMW Group since 2000 and was the CEO of BMW Austria Bank in Greece. He has extensive leadership experience for BMW Group Financial Services and has worked across geographies such as New Zealand, China and Hong Kong. He started his career with BMW Bank Munich in Sales and Marketing function.

Lisa Ng, Regional Chief Executive Officer of BMW Group Financial Services for Asia Pacific, said, “Andreas Modlmayer brings with him valuable expertise and leadership acumen, with successful development of BMW Financial Services in diverse markets for over two decades. India is an important market for us, and we are confident that he will further add to the company’s growth as he takes charge of BMW India Financial Services.”

“We thank Jaejoon Lee for his immense contribution to BMW India Financial Services in the recent years. He successfully steered the company with new initiatives in product offerings and customer centricity and strengthened the foundation for future growth. We wish him all the best as he returns to BMW Korea once again,” added Ng.

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