YES BANK signs MoU with Kia Motors in India

Mumbai, January 11, 2019: YES BANK, India’s fourth largest private sector Bank, signed a Memorandum of Understanding (MoU) with Kia Motors, world’s eighth largest automaker, to enter into a strategic financing partnership, making it one of the first Indian banks to become their preferred financier. The benefits of this partnership will be extended to the entire auto value chain – Auto dealers as well as customers, covering multiple car models offered by Kia Motors India.

Kia Motors is set to enter Indian market by second half of 2019 with an all-new mid-SUV which was previewed at 2018 Auto Expo. The partnership will utilize YES BANK’s capabilities to provide a comprehensive range of attractive financing options for Kia Motors’ customers in India, helping support the company’s continued growth and expansion plans in different geographies.

Through the partnership, YES BANK will be able to provide end to end financial solutions to Kia Motors India. The Bank will offer financing and banking solutions to both the Kia car dealers with products such as Term Loans, Cash Credit, Inventory funding etc. as well as the end consumers. The Bank will work towards satisfying the customers’ needs through auto loans with easy monthly repayment plans best suited for individual consumers. Moreover, YES BANK will also leverage its chat bot based platform, YES mPower bot, allowing it to deliver superior customer experience with 1 min loan approval across all the retail touch points.

Speaking about the partnership, Pralay Mondal, Senior Group President and Head, Retail and Business Banking, YES BANK said, “YES BANK is pleased to partner global auto manufacturer Kia Motors in India. The Bank has been working with various auto players to provide innovative finance solutions, thereby further strengthening our position in the competitive value driven car segment and also contributing to the growth of the segment in the country.”

“It is our endeavor to enhance the experience of our prospective customers and add more value to our dealer partners in India. The partnership with YES BANK will definitely set the benchmark of premium and hassle-free Kia experience. This partnership will empower our stakeholders and customers with financial products specifically tailored for them to facilitate their smooth entry into the world of Kia,” said Kookhyun Shim, MD & CEO, Kia Motors India. “Kia Motors India aims at creating excitement in the automobile industry with best in class innovative solutions meeting overall needs of our partners and customers likewise,” he added.

The partnership will focus on providing easy financing opportunities for the dealers and also make it easy for eligible buyers to acquire brand new Kia vehicles. Besides providing financing solutions, YES BANK will also work towards developing exclusive digital banking solutions for Kia Motors in India.

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  • Banking and finance solutions for both dealers and buyers of Kia Motors India
  • YES BANK to develop exclusive digital banking solutions for Kia Motors India
  • Amongst the first banks in India to sign the MoU with Kia Motors India for a banking partnership

Source: Yes Bank Press Release

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Media drive started for performance variants of Tiago & Tigor twins

As per the tweet by Sirish Chandran, Tata Motors has started media drive for Tiago JTP and Tigor JTP.

It is a known fact that Tata Motors has been working along with Jayem Automotives of Coimbatore to make performance variants of Tiago and Tigor twins. Tata and Jayem together rolled out a 50:50 joint venture called JT Special Vehicles Pvt Ltd.

JT Special Vehicles Pvt. Ltd. will develop a range of performance vehicles in a phased manner at a dedicated line, currently being explored at Coimbatore. With all processes including design, precision machining, assembly, and testing facilities driven under one roof, this facility will aim to deliver the next level of personalization and enhanced performance with agility and efficiency.

Through this partnership the JTP (Jayem Tata Performance) range of cars will make it possible for a large consumer audience to experience the thrill of driving. It also aims at enhancing the product portfolio of TATA MOTORS, by offering exciting, emotion charged products. JTP will appeal to customers with a hidden streak of adventure who are looking for more than just a solution to the daily commute.

According to the product note from Tata Motors:

The Tiago JTP & Tigor JTP are the first two products from this new exciting range. They have been developed to deliver high performance through enhanced power and torque output using the 1.2L turbocharged petrol engine with performance oriented intake and exhaust systems. The engine is mated to a 5 speed manual transmission with optimized gear ratios for superior acceleration and extraordinary performance. It also features multi drive modes – City and Sports for the best of both- sheer performance or efficiency while negotiating every day traffic. The suspension has been tuned for precision with reduced ground clearance for improved handling.

The Tiago JTP and Tigor JTP features a new front end with large grill, smoked projector headlamps, bonnet and fender vents. 15” diamond cut alloy wheels and side skirts enhance the side profile while a diffuser on the rear bumper carries the sporty theme to the rear. Smoked projector headlamps not only provide great illumination but add a touch of aggression to the front .The interiors feature an all-black theme with sporty accents on AC vents, premium leather seats & steering with contrast red stitching.

The Tiago JTP and Tigor JTP also feature dual front airbags and next-gen ABS with EBD and Corner stability control for absolute safety in all driving conditions. For enhanced connectivity and a best in class infotainment experience – they come with infotainment system by Harman™ with 8 speakers for a surround sound like effect.

Technical Specifications:

7feb18-product-note-Tiago-JTP-Tigor-JTP-2

About Jayem Automotives:

Jayem Automotives is an independent Automotive R & D Company involved in design, development, testing and manufacturing of a wide range of automotive components, systems and prototypes. The company has been contracted by MRF Limited to manufacture and run the Indian Formula Ford Championship since 2008 & Formula 2000 since 2012 respectively.

About Tata Motors:

Tata Motors Limited is India’s largest automobile company, with consolidated revenues of INR 2, 75, 561 crores (USD 41.6 billion) in 2015-16. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 9 million Tata vehicles plying in India, Tata Motors is the country’s market leader in commercial vehicles and among the top in passenger vehicles. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia, South America, Australia, CIS and Russia.

“Best Global Brands 2018” – the star shines: Mercedes-Benz is the world’s most valuable premium automobile brand

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Stuttgart. Mercedes-Benz was able to further increase its brand value and is once again the world’s most valuable premium car brand. In the current “Best Global Brands 2018” ranking by the renowned U.S. brand consulting company Interbrand, Mercedes-Benz again climbed places in the top ten most valuable global brands and now is ranked on 8th place. Mercedes-Benz is still the only European brand in the top ten. Compared with 2017, the value of the brand grew by two percent to 48.6 billion dollars. Mercedes-Benz has continually increased its value since 2009.

“It is great news that the value of the Mercedes-Benz brand has further increased”, says Britta Seeger, member of the Board of Management of Daimler AG responsible for Mercedes-Benz Cars Marketing & Sales. “Once again we are the world’s most valuable premium automobile brand and are thus holding our ground in a field surrounded by big technology and consumer brands. We are delighted that people reward our new products such as the fully-electric EQC, our bold marketing campaigns such as the Grow Up campaign and new dialogue formats such as the ‘me Convention’.”

The strengths of the Mercedes-Benz brand lie in its long tradition, great innovative strength, the will to constantly reinvent itself and the abiding principle of its founding fathers only to be satisfied with the best. From the invention of the automobile to the largest manufacturer of luxury vehicles and a provider of comprehensive mobility services – Mercedes-Benz always looks for the best answers to the mobility needs of people.

Global study on brand valuation This year marks the 19th time that the annual “Best Global Brands” study has been published by Interbrand. The study is considered by leading CEOs worldwide to represent the competitive benchmark for the value of international brands. The study is designed to identify the world’s 100 most valuable brands. Interbrand’s brand valuation considers the three aspects “financial performance of the brand’s products or services”, “role of the brand in the purchase decision-making process” and “strength of the brand in relation to safeguarding the company’s future revenue”. This method is the first one to be successfully certified according to ISO 10668:2010 – an international standard that defines the basic requirements on procedures and methods for determining the monetary value of a brand.

Mercedes-Benz also occupies first place among worldwide premium automobile manufacturers in the current “Global 500 2018” ranking by the US brand valuation company Brand Finance. 500 brands were examined in the course of this study. Mercedes-Benz is in 15th place (20th place in 2017) as the most valuable European brand, with a brand value of 43.9 billion dollars (a 24 percent increase over 2017). The jury expressly recognized the modernization of the brand, and the marketing and social media activities to reach new, younger target groups.

The complete Best Global Brands ranking can be found under at www.bestglobalbrands.com

Source: Daimler Press Release

ISRO to transfer in-house developed Li-ion cell tech for Rs. 1 cr

This request for qualification (RFQ)  document for Technology Transfer of Lithium-ion cells intends to qualify and shortlist suitable industries in India/Start-ups based on eligibility criteria through an open evaluation process in accordance with the procedures set out in the document.

One of the major Centres of ISRO, Vikram Sarabhai Space Centre (VSSC), is offering to transfer the in-house developed Li-ion cell technology to competent Indian Industries on non-exclusive basis to establish Li-ion cell production facilities in the country.

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This initiative is expected to enable Zero Emission Policy of India and accelerate the development of indigenous electric vehicle industry.

Towards the transfer of Li-ion cell technology, an RFQ to qualify and shortlist suitable industries in India is available in VSSC, ISRO and NITI Aayog websites.

This request for qualification (RFQ)  document for Technology Transfer of Lithium-ion cells intends to qualify and shortlist suitable industries in India/Start-ups based on eligibility criteria through an open evaluation process in accordance with the procedures set out in the document.


You might also like reading: EV’s production in India is all set to get boost from CECRI and CAEM and Thanks to the new agreement, India to become less reliant on China & Japan for Li-Ion batteries and ISRO-BHEL join hands to manufacture Li-Ion Cell for satellite


Presently, Lithium-ion battery is the most dominating battery system which finds applications for a variety of societal needs including mobile phones, laptops, PDA, cameras and many other portable consumer gadgets. Recent advances in Li-ion battery technology have made it the preferred power source for electric and hybrid electric vehicles also. Li-ion cells find wide applications in electronic gadgets, telecommunication, industrial applications as well as in aerospace.

VSSC, ISRO is now offering to transfer this technology to competent Indian Industries/Start-ups on non-exclusive basis to establish Li-ion cell production facilities in the country that can produce cells of varying size, capacity, energy density and power density catering to the entire spectrum of power storage requirements.

The interested parties/consortia should make an application in accordance with the provisions of this RFQ. The RFQ contains a brief description of qualification process & technology transfer process, instructions to applicants, eligibility criteria, timelines and various forms for submitting RFQ. Interested applicants shall attend a pre-application conference (PAC) scheduled on July 13, 2018. All queries or request for additional information concerning the RFQ shall be attended only in the pre-application conference. The venue and time will be intimated later. The schedule of various activities related to qualification process are as follows:

1 Release of RFQ June 13, 2018
2 Last date for registration of pre-application conference June 28, 2018
3 Pre-application conference July 13, 2018
4 Last date of submission of RFQ August 13, 2018
5 Opening of RFQ August 14, 2018
  • The RFQ document can be obtained against a non-refundable and interest-free payment of Rs.25,000/-.
  • The document will be mailed to your registered e-mail ID from VSSC on receipt of payment.
  • A Security Deposit of Rs.4 lakhs in the form of demand draft/bank guarantee has to be submitted by each applicant along with the application.
  • Security Deposit of unsuccessful applicants or withdrawn applications will be returned, without any interest.
  • Competent Firm’s Security Deposit shall be adjusted against the technology transfer fee of Rs.100 lakhs.
  • Competent firms shall pay the one time technology transfer fee of Rs. 100.00 lakhs(INR) within 30 days from the qualification date.
  • Technology shall be transferred to all/any of the competent firms who qualify the eligibility criteria as specified in the RFQ. The required process documents shall be provided by ISRO at the time of signing of technology transfer agreement and payment of technology transfer fee.

Source

 

Thanks to the new agreement, India to become less reliant on China & Japan for Li-Ion batteries

CSIR lab to give technology for India’s first indigenous Lithium Ion Battery project

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Central Electro Chemical Research Institute (CECRI), Karaikudi, Tamil Nadu under Council of Scientific & Industrial Research (CSIR) and RAASI Solar Power Pvt Ltd have signed a Memorandum of Agreement for transfer of technology for India’s first Lithium Ion (Li-ion) Battery project. The Agreement was signed in Bengaluru on Saturday (June 09, 2018) by Dr Vijayamohan K. Pillai, Director, CECRI and C. Narasimhan, Chairman-cum-Managing Director of RAASI Group in the presence of  Union minister for Science & Technology Dr Harsh Vardhan.

A group at CSIR-CECRI headed by Dr Gopu Kumar has developed an indigenous technology of Lithium-ion cells in partnership with CSIR-National Physical Laboratory (CSIR-NPL) New Delhi, CSIR- Central Glass and Ceramic Research Institute (CSIR-CGCRI) Kolkata and Indian Institute of Chemical Technology (CSIR-IICT) Hyderabad. CSIR-CECRI has set up a demo facility in Chennai to manufacture prototype Lithium-Ion cells. It has secured global IPRs with potential to enable cost reduction, coupled with appropriate supply chain and manufacturing technology for mass production.

Currently, Indian manufacturers source Lithium Ion Battery from China, Japan and South Korea among some other countries. India is one of the largest importers and in 2017, it imported nearly 150 Million US Dollar worth Li-Ion batteries.

“Today’s development is a validation of the capabilities of CSIR and its laboratories to meet technology in critical areas to support our industry, besides other sectors,” said Dr Harsh Vardhan after the signing ceremony. “It will give tremendous boost to two flagship programmes of Prime Minister Narendra Modi – increasing the share of Clean Energy in the energy basket by generating 175 Giga Watts by 2022, of which 100 Giga Watts will be Solar and the second, National Electric Mobility Mission, to switch completely to electric vehicles by 2030.”

Dr Harsh Vardhan said, the project is in tune with Prime Minister’s vision of “Make in India”, to turn India into a manufacturing hub and to cut down outflow of foreign exchange.

Raasi Group will set up the manufacturing facility in Krishnagiri district of Tamil Nadu close to Bangalore. “We want to bring down the cost of cell manufacturing below Rs. 15,000/- per KW to replace Lead Acid Battery,” said Narasimhan. “We also have plans to make Lithium Ion battery for solar roof top with life span of 25 years to make it affordable enough to drive the Photo Voltaic segment.”


Also read: EV’s production in India is all set to get boost from CECRI and CAEM


Li-Ion batteries have applications in Energy Storage System – from hearing aid to container sized batteries to power a cluster of villages, Electric Vehicles (2-wheeler, 3-wheeler, 4-wheeler and Bus), portable electronic sector, Grid Storage, Telecom and Telecommunication Towers, Medical Devices, Household and Office Power Back (UPS), Powering Robots in Processing Industry. Lithium-ion batteries can power any electrical application without the need of physical wires-means wireless.

Dr Jitendra Yadav, Director, CSIR-National Aerospace Laboratories, Bengaluru, Dr Vidyadhar Mudkavi, Director, CSIR-4PI, Dr. M. Annadurai, Director, ISRO Satellite Centre, Bengaluru were also present on the occasion. Dr Annadurai stressed, the Li-Ion cells developed by ISRO is primarily for space applications and there is room for convergence.

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India car sales snapshot in April 2018

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Maruti Suzuki India time and again proved that it cannot be dethroned that easily. Despite having around 50% market share it further grew to capture a whopping 55% market share. Every time we think that Maruti reached peaks and it cannot grow further it is proving us wrong, this month it grew by 13.4% compared to the last April.

Tata Motors despite trying hard to reach third position is still having tough time to displace Mahindra. But Tata can make it to third position as we can see it is consistently growing at a healthy rate(this month it grew by 34.4%) owing to the success of Tiago and Nexon.

Biggest loser this April is Honda, it de-grew by 36.9% compared to the April 2017.

Thanks to Jeep Compass that Fiat is able to post better numbers.

Source: Autopunditz

Top 10 Selling cars of India: Tata Tiago makes into top 10 selling cars in FY18

https://auto.economictimes.indiatimes.com/news/passenger-vehicle/cars/tata-tiago-makes-into-top-10-selling-cars-in-fy18/63828593