Bosch Limited, a leading supplier of technology and services, announced today that it has posted total revenue from operations of INR 36,620 million in Quarter 2 of FY 2022–23, an increase of 25.5 percent over a low base in the same quarter of the previous year, which was impacted by the COVID-19 pandemic. This has further increased, compared to the all-time high revenue achieved in the previous quarter, with INR 35,440 million, influenced by the easing of the chip shortage, aiding the broad-based growth in auto supply.

Furthermore, according to Bosch, profit before tax stood at INR 4,870 million. Sharing his thoughts, Soumitra Bhattacharya, Managing Director, Bosch Limited and President of the Bosch Group in India, said, “The surge in demand on the back of the continued recovery of the automotive market has contributed to a strong performance this quarter. We have witnessed robust topline growth, posting consistent profits over a low base in the same quarter of the previous year. Although supplies in semiconductor have eased out relatively, the supply chain ecosystem itself continues to remain fragile. Despite these uncertainties, including rising input costs, we expect to build on the strong performance of this quarter.”

Moreover, as Bosch India celebrates 100 years, the company claims that it also celebrated 50 years of Make in India, underlining its commitment towards precision manufacturing at its Nashik plant. Commemorating this milestone, a new Common Rail Injector (CRIN) line for commercial vehicles was inaugurated, to cater to the Indian customers. Plus, Bosch Limited states that it also launched the pilot hydrogen engine testing infrastructure, with a temporary storage setup in Bengaluru, India, which is the first-of-its-kind facility in Bosch.

Further putting across his views on these factors, Bhattacharya said, “We are happy to inaugurate our in-house developed CRIN line in Nashik to cater to the Indian commercial vehicle market, in line with the Government of India’s vision of Atmanirbhar Bharat. Addressing the changing regulatory emission norms, this line will further increase our share of local production.”

He added, “Bosch is also gearing up to become a system solution provider for new-age technologies in the mobility space. We have set up a state-of-the-art hydrogen engine test infrastructure at our Adugodi campus in Bengaluru. Through this, we look forward to developing and advancing our capabilities in the hydrogen engine and fuel cell technologies, and propel the alternative fuel revolution in India.”

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Greaves Cotton has appointed Santosh Singh as Chief Strategy and AI Officer. He will be based in Mumbai and will lead strategy, transformation, AI-led enterprise capability building and business excellence for the Greaves Cotton Group.

Singh comes with over two decades of experience in strategy, business excellence, innovation, and AI-led enterprise transformation. He joins Greaves Cotton from Tata Technologies (TTL), where he served as Global Head – Marketing and Business Excellence. During his tenure there, he co-led the enterprise GenAI roadmap and developed use cases focused on customer engagement and productivity.

His primary mandate is to drive the Greaves.NEXT strategy, the company’s roadmap for growth across the energy, mobility and industrial solutions sectors.

In his new role, Singh will focus on accelerating growth for Greaves Technologies (GTL), developing an enterprise-wide AI roadmap, and establishing partnerships with hyperscalers and AI labs.

Parag Satpute, Managing Director & Group CEO, Greaves Cotton, said, “We are pleased to welcome Santosh to the leadership team. His extensive expertise in strategy, digital transformation, and AI will play a significant role in shaping Greaves’ next phase of growth. His global experience will further strengthen our innovation roadmap and support our long-term business priorities.”

Singh will also work across business units to incubate and scale growth vectors and lead business excellence initiatives.

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Luminar Technologies, Inc., a global technology company advancing safety, security and autonomy across various sectors, has announced it has agreed to sell its wholly owned subsidiary, Luminar Semiconductor, Inc. (LSI), to Quantum Computing Inc. (QCi) for USD 110 million in an all-cash transaction.

QCi is an integrated photonics and quantum optics technology company focused on photonics-driven technologies and sensing applications. LSI's innovation platform and engineering depth align with QCi’s strategic priorities in optical systems, chip-scale innovation and photonic architectures. The acquisition is expected to position LSI to grow and capitalise on the demand for photonics solutions.

Paul Ricci, CEO, Luminar, said, "We are pleased to partner with QCi as they continue to accelerate their photonics roadmap. QCi’s focus on photonics-driven technologies provides an aligned platform for LSI to expand its customer base, accelerate growth opportunities, and invest in markets where long-term demand for high-reliability optical systems is increasing. We are incredibly proud of the LSI team for the progress they have made to reach this milestone, and we are excited for the opportunities ahead for LSI under QCi’s ownership.”

Yuping Huang, CEO, Quantum Computing Inc, said, "I’m excited about the opportunity to partner with the exceptional team and valued customers of LSI. There is clear strategic alignment and shared vision between our organizations, creating strong momentum from day one. Following the closing, we will move quickly to invest in and scale LSI’s existing business, while bringing our teams together to accelerate our quantum photonics roadmap. This is a powerful combination, and I’m energized by what we will achieve together.”

In a separate announcement, Luminar announced that it has initiated voluntary chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. LSI is not a debtor in the chapter 11 cases and is operating in the ordinary course. Because LSI is a subsidiary of Luminar, the transaction will require the approval of the bankruptcy court via a Section 363 sale process, which the parties expect to receive by the end of January 2026, subject to closing conditions.

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Chinese technology company Neusoft Corporation and Mappls MapmyIndia have signed a Memorandum of Understanding (MoU) to leverage their strengths in software and data resources to collaborate deeply.

The companies will engage in joint technological development, ecosystem collaboration and resource integration to provide navigation products and intelligent mobility solutions tailored to localised needs in emerging markets such as Southeast Asia and India.

The partnership is a response to the fact that while global auto brands are expanding into Southeast Asia and India, they face challenges in these regions due to complex road conditions, unique traffic rules, extensive addressing systems and high localisation adaptation costs. These issues limit the ability of automakers to deliver a complete intelligent user experience.

Under the collaboration, Neusoft will adopt its OneCoreGo Global Intelligent Mobility Solution 6.0 Plus as the core technology carrier, deeply integrating MapmyIndia's map data, real-time traffic information and multi-dimensional value-added services. MapmyIndia is noted as the largest local mapping company in India, holding more than 90 percent market share in in-vehicle navigation.

The integration is intended to strengthen a full capability loop of ‘navigation + payment + interaction + connectivity + operations’.

Through API integration and technological convergence, the two parties will jointly develop navigation products and mobility solutions highly adapted to Southeast Asia, India and similar regional markets. These solutions will deliver precise route planning and real-time traffic guidance, address local user needs and continuously enhance product experience and scenario-based services. This will help automotive partners rapidly launch intelligent vehicle models with competitiveness in local markets.

The partnership enables Neusoft to combine the global end-to-end strengths of its solution with localised ecosystem resources, paving the ‘last mile’ for automakers entering the Southeast Asian and Indian markets and delivering comprehensive intelligent mobility experiences.

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Bengaluru-based electric vehicle maker Ultraviolette Automotive has secured USD 45 million from Zoho Corporation and Lingotto, one of Europe's investment management companies as part of its ongoing Series E investment round.

The investment from Zoho Corporation was led by Sridhar Vembu, Mani Vembu and Kumar Vembu.

This growth capital will accelerate the domestic and international scale-up of current products F77 and X-47, as well as future product platforms Shockwave and Tesseract.

Ultraviolette has built a design and technology-led enterprise with the F77 and the recently launched X-47.

The company has expanded to 30 cities across India in a short span of 12 months and is expanding to 100 cities by mid-2026. The F77 motorcycles were recently launched in the United Kingdom, bringing Ultraviolette's presence to 12 countries across Europe.

Narayan Subramaniam, Co-Founder & CEO, Ultraviolette Automotive, said, “We are glad to announce our Series E investment from Zoho and Lingotto. Lingotto's legacy of backing iconic performance and mobility brands, combined with Zoho's long-term commitment to fostering cutting-edge Indian innovation, aligns perfectly with Ultraviolette's mission to build category-defining electric mobility solutions for India and global markets.”

Niraj Rajmohan, CTO & Co-Founder, Ultraviolette, said, "With the ongoing Series E investments, we are doubling down on growth and expanding our production to meet increasing demand. Our focus is on advancing breakthrough battery technology, elevating performance capabilities and expanding production to support upcoming product platforms. This investment will accelerate our journey towards scaling into India and global markets."

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