Recording a consolidated revenue for the first quarter of FY2024-25 at INR 41.06 million as compared to INR 38.77 million in the corresponding period last fiscal, marking an increase of 5.9 percent, Bharat Forge experienced substantial contribution from defense sector and the oil and gas sector. 

In its BSE filing, the group has mentioned that its Ebitda grew by 22.8 per cent Y-o-Y to Rs 760 crore in Q1FY25. Recording a 10 percent (year-on-year) rise in revenue from operations on a standalone basis, the group recorded a profit-after-tax (PAT) of INR 26,94 million in Q1 FY2024-25 as compared to 31,14 million in the corresponding period last fiscal, an increase of 13.5 percent. 

Securing new orders worth Rs 9.8 million across the defense, ferrous and aluminum castings and core forging business segments, Bharat Forge’s defense business posted revenue of INR 6,42 million in Q1 FY2024-25, a year-on-year increase of 147 per cent. 

The group won orders worth INR 7,75 million. Its executable order book as of June 30 was for INR  54 billion. It consisted of orders such as artillery guns, vehicles and consumables. 

One of the leading forging companies in India and a global provider of high-performance, innovative, safety and critical components to sectors like automotive, railways, defense, construction and mining, aerospace, marine and oil and gas, Bharat Forge reported that its wholly owned subsidiary Kalyani Powertrain limited (KPTL) holds 64.29 percent equity shares of Tork Motors Pvt Ltd (TMPL) which is engaged in manufacturing electric bikes. It is part of a separate cash generating unit (CGU) as defined by Ind AS 36.

In light of recent developments in two-wheeler EV market and its adverse impact on TMPL operations, a provision for impairment of INR 1,517 million has been considered in consolidated financial statements of the company. Consequently, the Company has recorded provision for impairment of INR 1,456 million for investment in KPTL in the standalone financial statements for the period ended June 30, 2024. 

The group announced in its filing a fair value adjustment (loss) for investment In Tevva Motors Limited of INR 2,794 million (Standalone financial results) and INR 2,936 million (Consolidated financial results) through other comprehensive income for quarter and year ended 31 March 2024.

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Bengaluru-based deeptech start-up Vimag Labs has been granted a patent in India for its Virtual Magnet Synchronous Motor (VMSM) platform titled ‘A Robust Rotating Transformer Excited Synchronous Motor and Its Control’, which protects the architecture of the motor that does not require magnets.

The VMSM platform uses power electronics and algorithms to control its magnetic field. Vimag Labs claims that the motor functions without the rare-earth magnets typically found in permanent magnet motors. This is the 5^th patent granted to the company, which also has ten patents pending and 15 trademarks filed.

The company is conducting pilot programmes with manufacturers of two-wheelers and passenger cars. Future expansion plans include light commercial vehicles, commercial vehicles and industrial systems.

Manish Seth, Co-Founder and CEO, Vimag Labs, said, “This patent is the outcome of over 87,600 engineering hours. It strengthens every dimension of our commercial roadmap- OEM partnerships, licensing, manufacturing scale-up, and future growth. Our long-term vision is to build scalable, software-driven, magnet-free motor systems for global electrification. This innovation strengthens India’s deep-tech base across electric mobility, power electronics, robotics, defence, and clean-energy systems.”

Vimag Labs recently raised USD 5 million in a Series A funding round led by Accel, with participation from Chakra Growth Fund and Thinkuvate. The company has also signed a manufacturing memorandum of understanding with Jendamark.

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Tier 1 automotive supplier Autoliv and Chinese automotive major XPENG have signed a strategic cooperation framework agreement to develop mobility solutions for global markets. The partnership aims to facilitate collaboration across technology development, digitalisation, supply chain coordination and sustainability.

As per the agreement, Autoliv will use its global presence and expertise in automotive safety systems to support XPENG’s product development and international expansion. The collaboration is designed to combine Autoliv’s safety standards with XPENG’s work in electric vehicles, AI, autonomous driving and robotics.

Mikael Bratt, President and CEO, Autoliv, said, "XPENG is striving to explore the future of mobility, and Autoliv is proud to support that journey. As vehicles become smarter, safety must be integrated from the very beginning. This agreement reflects our shared commitment to innovation and safety, combining XPENG's innovation in smart mobility with Autoliv's global safety expertise to help make the next generation of mobility safer."

The companies intend for the agreement to improve innovation efficiency in response to changes in the automotive industry, including electrification, connectivity and globalisation.

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Krafton India, the studio behind the popular mobile game – Battlegrounds Mobile India (BGMI), has announced that Italian supercar brand Ferrari will be added to BGMI as part of the 4.5 update, starting from 16 July 2026.

The collaboration brings four models to the game: the Roma, Purosangue, LaFerrari and SF90 XX Spider. These vehicles will be available for over 260 million players to collect through in-app purchases. The update will also introduce a Ferrari-themed photo zone where players can interact with the vehicles and installations. This space will include animations for players to use with teammates.

Players will be able to drive the vehicles from 16 July to 7 September 2026. Further information will be provided on BGMI’s social media channels regarding event dates and trailers. The partnership between Krafton and Scuderia Ferrari HP was established in December 2025.

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Coretura, a 50:50 joint venture between Daimler Truck and Volvo Group, has entered into an engineering agreement with Accenture to accelerate the development of a software platform for commercial vehicles.

The company, headquartered in Gothenburg, Sweden, currently employs over 100 engineers. It continues to recruit specialists in system architecture, high-performance computing and cloud infrastructure to support its roadmap, which targets the delivery of its first commercialised products towards the end of the decade.

Coretura intends to create a single software platform, language and standard for trucks, buses and other heavy-duty transport vehicles. The platform is designed to support vehicle lifecycles of more than 15 years, moving the industry away from projects that require custom software development for each new vehicle.

As the engineering partner, Accenture will support development across several areas, including:

• Electrical and Electronic (E/E) architecture
• Software abstraction and hardware integration
• Embedded software, middleware, and cybersecurity
• Functional safety and cloud infrastructure

The platform aims to provide a reusable software stack to lower costs and standardise time-to-market for global manufacturers. For fleet operators, the system is designed to allow for continuous software updates and performance upgrades delivered over the air.

Johan Lunden, CEO, Coretura, said, “Our purpose is to advance mobility at the speed of ideas, and that takes depth. Building a full-stack SDV platform demands expertise across embedded software, middleware, cybersecurity, and functional safety, all designed for vehicles with lifecycles measured in decades. Accenture’s reinvention capabilities let us move faster without compromising the standards our customers depend on. This is acceleration, not course correction.”

Rainer Oder, SDV Embedded Software Lead, Accenture, added, “Helping the industry advance software-defined vehicles is a priority for Accenture. Our landmark collaboration with Coretura is designed to change embedded software engineering for automotive platforms. Together, we are looking to solve the challenges of a fully software-defined architecture – addressing critical areas such as hardware abstraction, API management and AI-based engineering optimisations.”

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