Sunday, July 14, 2024

Ticker Tape June 20224

Equipment Ticker June 2024

Tata Motors, India’s largest commercial vehicles manufacturer, today announced the launch of Tata Motors Fleet Verse – a comprehensive and innovative digital marketplace for Tata Motors Commercial Vehicles. The platform offers features like new vehicle discovery, configuration, acquisition, financing, and is future-proofed to include a range of additional services and features, making Fleet Verse a one-stop digital destination for all commercial vehicle needs.

Built on five key pillars, Fleet Verse is designed to consolidate all aspects of commercial vehicle ownership onto a single platform. The Smart Search Vehicle Discovery, enriched with advanced semantic search features allows users to explore Tata Motors’ full range of commercial vehicles of 900+ models and 3000+ variants. With Product Configurator, users can key in their business needs, application, and choices to get the most appropriate vehicle recommendation. The 3D Visualizer offers an immersive experience to view vehicle exteriors and interiors in realistic detail. With Vehicle Online Finance, Fleet Verse partners with major financiers to offer fast and smooth finance applications and approvals. Finally, the Vehicle Online Booking feature enables users to book their desired vehicles in a few easy clicks and get prioritized fulfillment, simplifying the acquisition process.

Launching the Fleet Verse platform, Bharat Bhushan, Head – Digital Business, Tata Motors Commercial Vehicles, said, With the launch of Fleet Verse, we are setting a new benchmark in the commercial vehicle industry by providing  customers with an all-encompassing digital platform. We aim to streamline the commercial vehicle ownership experience, ensuring it’s fast, intelligent, safe, and reliable. This initiative underscores our commitment to innovation and enriched customer excellence, driving growth and convenience for both dealers and customers through digitalized value chains. We are excited to bring this transformative experience to our customers and look forward to continuously enhance the platform with new features and capabilities.”

All transactions on Fleet Verse are rendered through Tata Motors’ extensive pan-India dealership network, using a direct-to-dealer payment ecosystem. Serving as a digital bridge, the platform connects dealerships and financiers directly with customers, streamlining processes from enquiry to vehicle delivery. This enables a transparent, prompt and convenient procurement process for customers and Tata Authorised Dealerships —a true win-win scenario.

Indian tyre industry major and market leader in the tyre segment, JK Tyre & Industries Ltd. inaugurated its 12th brand shop for commercial vehicles in Maharashtra, enhancing their last mile presence in the State. This new facility operated by ARM Logistic Solutions Pvt. Ltd was inaugurated by Anuj Kathuria, President (India), JK Tyre & Industries Ltd.

Spread over 4,500 square feet and strategically located on State Highway 48 (Panvel-Kanyakumari), this cutting-edge one-stop shop is designed to deliver best-in-class customer solutions to commercial vehicle owners. The state-of-the-art facility features a wide range of standard and smart tyres for commercial vehicles, advanced wheel servicing equipment, highly qualified technical advisors, and an experience zone showcasing the unique attributes of JK Tyre’s exclusive stores.

Anuj Kathuria, President (India), JK Tyre & Industries Ltd., said, “At JK Tyre, we prioritize a customer-first approach by addressing their needs with innovative, high-quality products and exceptional after-sales service. We operate an extensive network of over 800 brand shops across various formats—Truck Wheels, Steel Wheels, and Xpress Wheels—throughout India, providing top-notch inline services.”

“The launch of our new brand shop highlights our commitment to providing premium products and services to our esteemed customers. Maharashtra, being a key market for commercial vehicles, holds significant importance for us, and we aim to extend our presence in the region through this new facility. With ARM Logistics Solutions, we look forward to strengthening our commitment to delivering innovation, quality, and convenience to our customers,” he further added.

The launch of the new Brand Shop in Maharashtra is in line with the company’s aim to bolster its retail presence in the state and across the country. These services include computerized wheel alignment, tyre rotation, nitrogen inflation, and tyre inflation, all performed under one roof to give the customer a 360-degree experience.

Manitou Group, as a world reference in handling, aerial work platforms and earth moving sectors, and Kiloutou, Europe’s third largest equipment rental company, are previewing the first “retrofit” electric telehandler. An opportunity for the groups to test a solution that is both sustainable and circular.  The partnership between Manitou Group and Kiloutou, which first began in early 2023, is really coming into its own with the exclusive presentation of the first electric telehandler based on a used combustion model. After studying the technical feasibility of the project for the past year, Manitou Group’s R&D and Services & Solutions teams have come up with an electrification kit in line with the specifications shared by Kiloutou. All the safety criteria are met, and performance is equivalent to the internal combustion version.  The retrofit is a transitional solution that is both sustainable and circular, with a 40% reduction in greenhouse gas emissions compared with an internal combustion machine. Once fitted with its electrification kit, the converted equipment will be integrated into the IMPAKT offer, dedicated to alternative, more environmentally friendly powertrains and available from Kiloutou branches in France.

Michel Denis, CEO of the Manitou Group, adds: “We are proud to present this first ‘retrofit’ telehandler. I would like to thank all the teams involved in this virtuous project. This close collaboration with rental customers like Kiloutou shows just how important it is to join forces to make quicker progress on sustainable solutions for the users of our machines. This development is fully in line with the objectives of our CSR roadmap, which aims to make the circular economy a priority.”

François Renault, Director of Equipment & Sustainable Development, Kiloutou Group, explains: “At a time when electric is set to become the norm and gradually replace fossil fuels, we see retrofitting as an alternative to mass replacement. It is perfectly aligned with a comprehensive fleet upgrade program, without the need to buy everything back. This project with Manitou Group pushes back the limits of the possible in terms of the circular economy and decarbonization. I’m delighted with this project, which enables our respective teams to share their know-how, and I’m particularly proud to see the expertise of Kiloutou’s Test Center and Purchasing Department at work.”

The two companies are now in the process of concluding a usage partnership with a major construction company, starting in September 2024. Over a period of one year, it will enable the equipment to be tested on various worksites and indicators such as range, charging methods and customer feedback to be analyzed in real-life conditions.”

Retrofit key figures:

  • 2,000 hours of development
  • 50 people involved in the project
  • 40% reduction in greenhouse gas emissions compared with internal combustion equipment
  • 25% reduction in the environmental score* with the electrification kit
  • 5 years of use minimum following installation of the electrification kit**

*Weighted average of 16 indicators (climate/biodiversity/health/resources) compared with keeping an internal combustion machine
** Number of years required in the specifications following equipment modification

Indian tyre major and leader in Truck Bus Radial tyres, JK Tyre & Industries, recently introduced an advanced range of tyres designed to meet the evolving needs of the transportation sector. JK Tyre plans to further strengthen their Truck & Bus Radial range with four new variants: JETWAY JUM XM, JETWAY JUC XM, JETSTEEL JDC XD, and the revolutionary JETWAY JUXe for electric buses. The expansion of its product portfolio underscores JK Tyre’s dedication to providing advanced, high-performance solutions that combine superior performance, economic benefits, and environmental responsibility. These new tyres mark a significant milestone for JK Tyre and its commitment to driving sustainable mobility solutions. By delivering tyres that enhance performance, operational efficiency, cost savings and sustainability, JK Tyre continues to lead the way in revolutionizing India’s transportation landscape. Speaking at the launch, Anuj Kathuria, President (India), JK Tyre & Industries Ltd, said, “As a leader in this category, we have a deep understanding of the segment and feel a responsibility to introduce sustainable solutions with advanced technology. Our latest offerings demonstrate our unwavering commitment to delivering high-performance, economically viable, and environmentally conscious solutions. We are confident that these tyres will serve as a dependable companion for fleet operators, ensuring safety on the move.”

All four tyres have undergone extensive testing in a variety of conditions to meet the highest standards of quality and performance. The four innovative tyres are:
JETWAY JUM XM: The JETWAY JUM XM boasts a 4-Star Rating and an RRc value of 4.9 KN/n, making it the most energy-efficient in its category. This next-generation tubeless tyre is designed specifically for buses and trucks to set new benchmarks for fuel economy and cost optimization. This translates to significant fuel savings for transporters, addressing a crucial factor as fuel expenses account for approximately 50% of total operating costs in India.  Additionally, reducing fuel consumption will also help to significantly reduce carbon emissions, providing a sustainable and economically viable solution for the transportation industry.

JETWAY JUC XM and JETSTEEL JDC XD: In response to India’s robust infrastructure development, the company has launched its cutting-edge X-Series product range: JETWAY JUC XM and JETSTEEL JDC XD tyres. Engineered to meet the current demand, these two tyres offer enhanced performance, durability, and efficiency. With a remarkable 10% longer tyre life, the JUC XM has been developed for tippers and trailers, delivering lower operational costs and increased efficiency, making it an ideal choice. Whereas, the JDC XD tyre is made to handle the demanding requirements of heavy-load transportation, ensuring long-lasting performance and reliability even in on- and off-road conditions. Known for its durability and sturdiness, the tyre is built for use in tippers on drive and dummy axles.
JETWAY JUXe: Specially designed for electric buses, the JETWAY JUXe is a revolutionary tyre in the category posited to redefine performance and sustainability standards in the electric vehicle (EV) segment. The low RRc tyres enable electric buses to travel more kilometers per charge, contributing to enhanced efficiency and operational cost savings. In addition to its energy-efficient design, the JUXe marks JK Tyre’s foray into low-noise tyres, aligning with the company’s commitment to sustainability. Low-noise tyres not only contribute to a quieter urban environment but also promote eco-friendly transportation solutions, making them ideal for the evolving needs of India’s sustainable mobility landscape.

The JETWAY JUXe tyre will also be deployed on TATA Motors’ EV buses, demonstrating a collaborative effort to drive innovation and sustainability in India’s public transportation sector.

Volvo Construction Equipment (Volvo CE India) unveiled the new EC210, a ‘Built for Bharat’ 20-tonne class hydraulic excavator today. The introduction of this excavator reinforces company’s strong commitment to the growing Indian CE market to provide innovative and technologically advanced solutions designed specifically to the needs of customers in the country. The EC210 excavator has a range of features to ensure superior performance, exceptional fuel efficiency and lower maintenance. Kamel Sid, (Global) Head of Operations at Volvo CE unveiled the new excavator in the presence of Dimitrov Krishnan, Managing Director, Volvo CE India and other senior leaders.

As part of the EC210 launch, Volvo CE has introduced a new brand campaign, ‘Karo Zyada Ki Umeed’. This campaign, via its soul film, reflects the human mindset of expecting more, striving for excellence and pushing boundaries. It highlights the key value proposition of EC210 under the 4 pillars of Zyada Performance, Zyada Value, Zyada Savings and Zyada Uptime.

The all new EC210, a 20-tonne class crawler excavator offers superior performance, versatility across applications, industry-leading safety and operator comfort, and ease of servicing. With best-in-class attachment configuration and next-generation positive control hydraulics system, it offers unmatched precision and faster response time. It also comes with Made in India, T3 electronic engine which is capable to deliver high torque even at low RPM and is yet exceptionally fuel-efficient due to 10 working modes for different applications. The do-it-all excavator offers high reliability and exceptional fuel efficiency at any of the light, medium or heavy-duty applications such as road building, rock breaking, general construction, waste management, quarries, sand mining, etc. Additionally, the users get to book a service at their fingertips through its user-friendly mobile app and get a service assurance within 48 hours to maximize machine uptime.

“As India embarks on its remarkable infrastructure growth journey driven by the government’s vision and commitment, we foresee exponential demand for construction and mining equipment across sectors such as rail, road, ports, airports, and power projects. At Volvo CE, we are committed to lead this transformation by offering India-centric solutions through our latest technological innovations,” said Dimitrov Krishnan, Managing Director of Volvo CE India. “The all-new EC210 exemplifies our commitment and approach to deliver products that deliver ‘Zyada’ performance and reduced cost of ownership to the value-conscious Indian customer. With this product launch, we have also built a supporting ecosystem by widening our sales network, investing in digital technologies to enable 48-hours service assurance and strategically partnering with Shriram Automall for easy exchange or disposal of used machines, thus enabling circularity,” he added.

Alongside the EC210 launch, Volvo Construction Equipment (Volvo CE) has also partnered with Shriram AutoMall (SAMIL), India’s largest ‘phygital’ marketplace for pre-owned vehicles and construction equipment. This collaboration aims to establish a robust ecosystem for machine exchange and disposal, serving customers interested in purchasing new Volvo machines by replacing their existing fleet. This initiative aligns with Volvo’s strategic ambition of promoting circularity in equipment lifecycle management, supporting sustainable practices for second-life and end-of-life disposal.

Ashok Leyland Limited, the Indian flagship of the Hinduja Group and country’s leading commercial vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with Bajaj Finance Limited, part of Bajaj Finserv, one of the country’s largest financial services groups, to enter into a strategic vehicle financing partnership for its customers across India. This MoU will enable both Ashok Leyland and Bajaj Finance to offer customized and seamless financial solutions to their customers.

The MoU was signed by K.M. Balaji, CFO, Ashok Leyland and  Harjeet Toor, President – Bharat Lending and Strategic Partnerships, Bajaj Finance in the presence of Sanjeev Kumar, President and Head- MHCV, Ashok Leyland. Through this partnership, Bajaj Finance will offer comprehensive financial solutions to Ashok Leyland’s customers. The partnership will focus on meeting customer needs by providing vehicle loans with convenient monthly repayment plans tailored to their preferences.

K.M. Balaji, Chief Financial Officer, Ashok Leyland said, “Ashok Leyland is delighted to partner with Bajaj Finance to provide customized finance solutions to our customers. This strategic partnership will strengthen Ashok Leyland’s market position. Our products, featuring innovative technology, offer industry-leading total cost of ownership, ensuring maximum profitability for our customers. We remain committed to delivering exceptional customer experiences.”

Sanjeev Kumar, President-M&HCV, Ashok Leyland said, “At Ashok Leyland, we are dedicated to continuously enhancing our customers’ experience and delivering greater value. With the combined strength of Bajaj Finance and Ashok Leyland, our customers will now have access to comprehensive financing solutions with specially curated easy repayment plans.”

Anup Saha, Deputy Managing Director, Bajaj Finance said, “We are delighted to collaborate with Ashok Leyland to provide commercial vehicle owners access to seamless financing solutions customized to their needs. We are confident that with Bajaj Finance’s best-in-class India stack processes more vehicle owners will gain from this partnership and scale their operations.”

The Sales and Marketing teams of Bajaj Finance and Ashok Leyland will join forces to develop joint marketing and financing programs, mutually enhancing business volumes.

Ashok Leyland today offers a comprehensive range of trucks and buses to meet the full spectrum of commercial vehicle needs, from intercity light commercial vehicles to long-haul trucks and a wide variety of buses. Our vehicles ensure safe transport and driver-friendly options.

As a pioneer in technological innovations within the truck and bus segment, Ashok Leyland is fully equipped with a range of buses powered by alternative fuels, dedicated to reducing pollution and promoting an eco-friendly transport system in India.

Bajaj Finance is one of the most diversified NBFCs in India with presence across lending, deposits and payments, serving over 83.64 million customers.

As of March 31, 2024, the company’s assets under management stood at Rs.3,30,615 crore.

Eicher Trucks & Buses, a business unit of VE Commercial Vehicles, announced the rollout of its 50,000th fully factory-built bus from its state-of-the-art Baggad Plant in Madhya Pradesh. The milestone vehicle is an Eicher Skyline Pro E electric bus, reflecting the unwavering commitment of the Baggad factory to cater to the rapidly modernizing Indian public transport segment.

Vinod Aggarwal, MD & CEO, VECV, stated, “We take immense pride in reaching this milestone. VECV has consistently remained ahead of the curve with significant advancements that offer best-in-class products across segments and compliant with all regulatory norms. This milestone further underscores our dedication to shape the future of the Indian bus industry. We extend our gratitude to our dedicated team, esteemed customers and channel partners for their unwavering support and making this achievement possible.”

Inaugurated in 2013, and situated across 43 acres in Baggad, Madhya Pradesh the award-winning  factory manufactures a diverse range of buses, including light, medium, and heavy-duty variants in diesel, CNG, and electric drivelines. Further this plant takes care of domestic and International markets catering to school, staff, Route Permit, Intercity & Tourist segments. VECV’s Bus Plant is also equipped with advanced robotic paint systems and certified for Integrated Management Systems, that exemplifies Eicher’s dedication to efficiency, quality, and environmental stewardship.

Eicher has undertaken a robust sustainability initiative in its manufacturing operations, centered on environmental, economic, and social sustainability. Among these initiatives, energy management systems have been implemented that utilize advanced energy monitoring and management systems such as VFD (Variable Frequency Drive)-enabled panels and energy-efficient motors to optimize energy use and reduce wastage. Eicher has also adopted strategies to achieve zero waste by reducing packaging waste and implementing safe disposal practices for hazardous materials. The Eicher plant operates on 42% renewable energy sources such as solar and mini-hydel, reflecting a proactive approach towards minimizing the environmental footprint. The plant was certified as Platinum Green Factory building by IGBC in 2016 and awarded Smart Factory of the Year in 2021.

Looking ahead, Eicher Trucks and Buses remains committed to advancing alternative fuel technologies such as CNG, LNG, and HCNG (hydrogen compressed natural gas), alongside its electric vehicle initiatives. The 50,000th bus, a Skyline Pro-E 9m model, embodies Eicher’s latest advancements in electric vehicle technology.

Designed for urban environments, it integrates high-energy storing batteries and a reliable all-electric driveline, ensuring efficiency, cleanliness, and silent operation. Safety and comfort features have been prioritized to enhance the passenger experience and meet stringent regulatory standards.

SANY India, a leading manufacturer of construction equipment, announced the signing of a Memorandum of Understanding (MoU) with Union Bank of India. Through this strategic partnership SANY India aims to provide substantial growth and development opportunities across the country along with enhanced financial support to its customers, while facilitating easier access to SANY India’s advanced product line along with readily available financial solutions.  The MoU was signed in the presence of Naveen Jain, Zonal Head, Pune of Union Bank of India, and Sanjay Saxena, COO of SANY India, accompanied by senior officers from both organizations.   This collaboration between SANY India and Union Bank of India is strategically designed to leverage the strengths of both entities, providing range of customized financial services tailored to meet the needs of the customers. This collaboration is designed to streamline the financing process, making it more efficient and customer-friendly, thereby empowering businesses across various sectors.

Sanjay Saxena, COO of SANY INDIA, stated, “We are happy to join hands with Union Bank of India, a leading institution of economic well-being within its operational areas. This MoU is a testament to our commitment to delivering exceptional financial services alongside our cutting-edge products, empowering customers across India.”

Highlighting the significant reliance on Union Bank of India for equipment financing, Saxena added, “The MSME Schemes offered by Union Bank of India are beneficial to all profiles of construction equipment customers. This partnership highlights the bank’s strong commitment to funding construction equipment. With Union Bank of India as our preferred financier, customers can conveniently access financing solutions for our earthmoving and construction equipment without the need to explore alternative options.”

Naveen Jain, Zonal Head, Pune of Union Bank of India, commented, “We are pleased to enter this strategic partnership with SANY India and continuously strive to provide beneficial opportunities for our customers. With construction and infrastructure activities thriving across the country, the demand for earth-moving and construction equipment is on the rise. Through our Construction Equipment Finance schemes, prospective buyers of SANY equipment can easily avail themselves of financing tailored to meet their financial requirements.”

This partnership marks a milestone in the financial and construction sectors, promising a collaborative relationship that will benefit customers, foster industry growth, and support national development goals.

Tata Motors, India’s largest commercial vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with Bajaj Finance Ltd., part of Bajaj Finserv Ltd., one of the country’s largest financial services groups. Bajaj Finance will offer financing solutions across the entire commercial vehicle portfolio, and customers will benefit from the company’s wide reach, competitive interest rates, flexi loan and digitally-enabled loan processing.

Commenting on this partnership, Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors Commercial Vehicles, said, “We are delighted to partner with Bajaj Finance, a company that shares our vision of providing top-notch solutions for customer delight. We are confident that their inaugural venture into commercial vehicle financing will allow them to tap the immense potential that the transportation sector brings in, and this partnership will benefit entrepreneurs across the country. With Bajaj Finance’s wide network in rural and urban areas, customers will have easy access to financing solutions as per their requirements. We look forward to providing enhanced convenience to our valued customers.”

Speaking on the development, Anup Saha, Deputy Managing Director, Bajaj Finance, “At Bajaj Finance, customer centricity is ingrained in our business ethos. We provide customers with convenient financing solutions that elevate their overall ownership experience. Our partnership with Tata Motors exemplifies this commitment. With our best-in-class process by using India stack, we aim to make the process of purchasing a commercial vehicle accessible and hassle-free. We are confident that the partnership will empower more commercial vehicle owners with financing solutions.”

Tata Motors offers an extensive range of sub 1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass mobility solutions, ranging in small commercial vehicles and pickups, trucks and buses segments to address the evolving needs of logistics and mass mobility segments.

The company ensures unparalleled quality and service commitment through its extensive network of 2500+ touchpoints, manned by trained specialists and backed by easy access to Tata Genuine Parts.

Bajaj Finance is one of the most diversified NBFCs in India with presence across lending, deposits and payments, serving over 83.64 million customers. As of March 31, 2024, the company’s assets under management stood at Rs.3,30,615 crore.

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