As per newspaper reports, Sona being India’s biggest importer of rare earth magnets, plans to locally manufacture the critical components used in electric vehicles, tapping into the government push to incentivize their production at home as China restricts their exports. (China, which produces around 90 per cent of the world’s rare earth magnets, put restrictions … Read more
In a significant announcement, Anand Group has announced consolidating it’s varied auto ancillary businesses under it’s listed subsidiary Gabriel India (GIL). GIL consequently will transform from a single product Company (suspension parts and shock absorbers) to a multi-product Company (brake fluid, radiator coolants, diesel exhaust fluid (DEF) / Ad-blue for 2W, 3W, 4W and truck … Read more
Goodyear India (GIL) has informed that the parent, The Goodyear Tire & Rubber Co., USA (GTR), is reviewing the farm tire business of the Company to evaluate all strategic, operational and financial opportunities related to that business. In July 2024, GTR sold it’s off-the-road business to Yokohama for $905 million It is now working with … Read more
Kedar Lele is joining as the new Managing Director, effective November 1. Lele succeeds Sandeep Sangwan, who has been elevated to the position of Global Chief Marketing Officer at Castrol headquarters in London. He has a total work experience of more than 26 years, of which 18 years has been spent at Unilever in various … Read more
Sona currently relies heavily on North America and Europe for 66% of its revenue. India contributes 28%. It’s current focus regions in the West (America and Europe) are plateauing and hence the Company is looking to expand into China, Japan, and South Korea. The targets are all 3 segments – electric, hybrid as well as … Read more