Author: News Desk
Wings EV, an innovative electric vehicle startup based in Indore, is poised to transform the Indian automobile market with its latest product, ‘Robin.’ Founded by Prakash and Pranav Dhandekar, this father-son duo aims to introduce a new category of transportation: the electric microcar. Robin is designed to offer a blend of manoeuvrability and eco-friendliness, promising a fresh alternative to traditional motorbikes and contributing to a cleaner environment. Launch and Vision The electric microcar Robin is set to make its debut in Bengaluru in April 2025. According to Pranav Dhandekar, CEO and co-founder of Wings EV, the vehicle is crafted to…
At the Sankalp 2024 event, Ola Electric unveiled its new range of electric motorcycles, marking its entry into the electric motorcycle market. The new models include the Roadster, Roadster X, and Roadster Pro, reflecting Ola’s commitment to advancing electric vehicle (EV) technology. Ambitious Goals for India’s EV Market Ola Electric aims to position India as a global leader in EVs and new energy. Bhavish Aggarwal, Founder and CMD of Ola Electric, emphasised the significant potential of the motorcycle segment, which makes up two-thirds of India’s two-wheeler market. Ola’s new motorcycle lineup is expected to boost EV adoption and contribute to…
To reshape the packaged food industry, Mars, the iconic family-owned candy giant behind brands like M&M’s and Snickers, is set to acquire Kellanova, the maker of Cheez-It and Pringles, for nearly $36 billion. Industry Context and Impact The acquisition comes at a time when sales growth in the U.S. packaged food sector is slowing. Companies like Kraft Heinz, Mondelez, and Hershey have seen customers gravitate towards cheaper, private-label products due to tighter budgets. This strategic move by Mars is expected to consolidate popular brands like Twix, Bounty, and Milky Way chocolates with Kellanova’s snack portfolio, which includes Pop-Tarts, Rice Krispies…
LuLu hypermarkets across the UAE have launched UPI (Unified Payments Interface) payments, enabling Indian visitors to make purchases using their Indian bank accounts. By scanning a UPI QR code at checkout, shoppers can pay in Indian rupees rather than foreign currencies. Enhanced Convenience for Indian Tourists With UPI payments now available, over 10 million Indian tourists visiting the UAE annually will experience greater convenience. According to V. Nandakumar, Director of Marketing at LuLu Group, this advancement will boost local trade and make transactions easier for Indian shoppers. Lower Processing Fees and Instant Payments UPI transactions are expected to be more…
The Mahindra Thar Roxx has been officially launched in India, with introductory ex-showroom prices starting at Rs 12.99 lakh. The detailed pricing for different variants will be announced soon. This new 5-door version of the popular Thar model includes all the advanced off-road features found in the existing 3-door variant. Here’s a closer look at what the Thar Roxx offers: Exterior Design The Thar Roxx maintains the distinctive boxy silhouette of the Thar but comes in a longer 5-door configuration. The SUV features LED headlights with C-shaped LED DRLs and a new body-colored 6-slat grille. The front bumper sports silver…
Royal Enfield’s Classic 350 remains its flagship product, even as the company broadens its portfolio across various segments. Originally launched in 2009, the Classic 350 received a major update in 2021 with a new chassis and engine, enhancing its overall refinement. Now, almost three years later, Royal Enfield has unveiled the updated Classic 350. The new model will have its pricing announced on September 1, 2024, with deliveries set to begin on the same day. Design and Cosmetic Changes The 2024 Classic 350 retains the design elements of its predecessor but introduces subtle cosmetic updates. Among these are seven new…
Nita Ambani, Founder & Chairperson of Reliance Foundation, announced on the 90th birth anniversary of Reliance’s Founder-Chairman Shri Dhirubhai Ambani that the foundation aims to award 50,000 scholarships over the next decade. This initiative underscores Reliance Foundation’s dedication to fostering academic excellence and empowering the youth of India. Applications Open for 2024-25 Scholarship Program The Reliance Foundation has officially launched the application process for its 2024-25 scholarship program. This year, the foundation will support 5,100 undergraduate and postgraduate students across India, providing them with the financial resources and mentorship they need to achieve their academic and professional goals. The foundation…
Tata Steel, a prominent Indian multinational steel company headquartered in Mumbai, has announced a significant acquisition. The company has acquired approximately 116 crore equity shares in its Singapore-based subsidiary, T Steel Holdings Pte Ltd (TSHP), for USD 182 million (around Rs 1,528 crore). This move is part of Tata Steel’s ongoing expansion strategy and reinforces its global presence. Details of the Acquisition According to an exchange filing, Tata Steel has purchased 1,15,92,35,669 ordinary equity shares with a face value of USD 0.157 each. Following this acquisition, TSHP will remain a wholly-owned subsidiary of Tata Steel. Tata Steel’s Market Position Tata…
Rajpal Yadav took out a loan from a bank in 2005, but he hasn’t been able to repay it, leading the bank to seal his property in Shahjahanpur. At the time of the sealing, Rajpal owed the bank Rs 11 crore. Known for his comic roles and loved by fans, Rajpal is now in the news for these financial problems rather than his film career. Details About the Loan and Property The property sealed by the Central Bank of India is located in Seth Enclave Colony, Shahjahanpur. Rajpal had mortgaged this property to get a Rs 3 crore loan in…
Starbucks has announced that Brian Niccol, CEO of Chipotle, will replace Laxman Narasimhan as the new chief executive. Laxman Narasimhan, who had been with Starbucks since March 2023, has stepped down immediately from both his CEO role and his position on the board. Current Challenges for Starbucks The timing of this leadership change comes as Starbucks is grappling with declining sales and market difficulties, particularly in China. The company is working to address these issues amid a challenging business environment. Background on Laxman Narasimhan Laxman Narasimhan, with his extensive background in consumer brands like PepsiCo, took over the Starbucks helm…