Skip to main content

Featured Post

AMD to invest $400 million in India by 2028: Here’s what we know

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD’s announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in Prime Minister Narendra Modi’s home state of Gujarat. Other speakers at the flagship event include Foxconn Chairman Young Liu and Micron CEO Sanjay Mehrotra. Despite being a late entrant, the Modi government has been courting investments into India’s nascent chip sector to establish its credentials as a chipmaking hub. AMD said it will open its new design centre campus in Bengaluru by end of this year and create 3,000 new engineering roles within five years. “Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide,” Papermaster said. The new 500,000-square-foot (55,5...
1 comment
Read more
Labels

Mahindra plans to launch eight new electric SUVs and eight electric LCVs by 2027

Mahindra & Mahindra has revealed its plans to launch 16 electric vehicles (EVs) by 2027, which will include a mix of SUVs and light commercial vehicles. With the proposed portfolio, the company aims to strengthen its leadership position in India’s electric mobility segment.

The automotive company under its plans to expand its EV offerings has stated that it is open to bringing in private equity investors or carving out its EV business into a separate entity to drive its growth. Apart from this, the company has already announced plans to invest Rs 3,000 crores in EVs.

M&M plans to launch 13 new SUVs by 2027, and out of the 13 eight will be electric. Four out of these electric SUVs are expected to launch between 2025-27. In the light commercial vehicles (LCV) segment, the company has announced that it will launch 17 new products by 2027, out of which eight will be EVs.

M&M Managing Director and CEO Anish Shah has said that the company is not only focussing on EVs but also in other segments such as farm machinery and its other “growth gems.” The company is open to looking at funding coming in from outside, not just for the capital but also for the expertise that investors may bring in.

He also added that the company plans to see revenue growth of 15-20 percent over a three-year cumulative period by 2025. To recall, it had posted a consolidated revenue of ₹21,470 crores in the second quarter ended September 30, up 12 per cent from the same period last fiscal year.

Apart from EVs, M&M is also betting big on its farm equipment sector, which it believes will grow by 10 times over current levels by 2027 with 15 new products. The company expects the domestic farm machinery industry to grow from its current value of ₹5,000 crores to around ₹12,000 crores by 2027.

The post Mahindra plans to launch eight new electric SUVs and eight electric LCVs by 2027 appeared first on BGR India.



from BGR India https://ift.tt/3ofRrlN
via IFTTT
Email Post
Labels:

Comments

Post a Comment

add