Business India ×
 Climate Change

Mobility
Published on: May 11, 2022, 1:49 p.m.
Anand Group eyes EV biz
  • The auto component maker says it is on the lookout for acquisitions and partnerships

By Business India Editorial

The $1.5-billion diversified auto component major Anand Group is planning to invest over $100-150 million in future mobility business led by ventures in electric vehicle space, it is reported.

The group, which runs over a dozen joint venture businesses in India for over six decades, is reportedly scouting for acquisitions including partnerships in the UK, Europe, Israel, Japan, amongst other markets, to participate in the entire value chain of electric vehicles, right from battery, motors, charging system for two wheelers to cars. 

The group aims to be amongst the top three players in the country in the EV component segment and sees a business potential of half a billion dollars in the coming five years from this space. 

The group is in discussion with companies from the UK, Israel, Germany and Japan for an acquisition, alliance or a joint venture and its group president Sunil Kaul, who heads future mobility, has started meeting prospective partners around the world. 

“We are on the lookout for acquisitions and partnerships. We are in the middle of discussions with multiple companies, which will help us accelerate our penetration into the future mobility or clean mobility space,” said Kaul.

“We are going all out to participate in the fast transition electric two and three-wheeler space. Hence, we are preparing ourselves by entering into partnerships, getting into engineering of parts, testing and also into sourcing – to generate a significant part of our total business going ahead.” 

There will be at least four to five different companies, largely in the form of JV companies catering to future mobility space – right from motors, controllers, transmission system. “Our target is to generate $500 million worth of business from future mobility in the coming three to five years. By then the group turnover would have doubled to $3 billion, by 2026-2027,” said Kaul. 


E-vehicles

Tata is the only automaker currently building EVs in India

Tata Motors launches ‘affordable’ EV hatchback

Published on Oct. 5, 2022, 6:04 p.m.

Tata is the only automaker currently building EVs in India

Storage

UK researchers work on creating ‘soil battery’ to store solar energy

Power beneath your feet

Published on Oct. 5, 2022, 5:49 p.m.

UK researchers work on creating ‘soil battery’ to store solar energy

Renewable Energy

Private firms propose massive investments in UP’s green sector

UP’s green sector attracts investors

Published on Oct. 5, 2022, 4:52 p.m.

Private firms propose massive investments in UP’s green sector

E-vehicles

The VENICE ECO is equipped with fire-resistant Lithium Ferro Phosphate (LiPO4) technology

Komaki launches high-speed EV two-wheeler

Published on Oct. 5, 2022, 4:28 p.m.

The VENICE ECO is equipped with fire-resistant Lithium Ferro Phosphate (LiPO4) technology

E-MAGAZINE

Company Feature

Classrooms go live, thanks to Airtel

Published on April 5, 2022, 11:25 a.m.

Despite the pandemic, Bharti Foundation has ensured that children are not deprived of learning opportunities

Column

Collaborative excellence

Published on April 4, 2022, 8:53 p.m.

A policy perspective for meeting SDG-9 in low resource setting of developing economies

Column

Innovation and infrastructure

Published on April 4, 2022, 8:10 p.m.

India is well-positioned to become a model of corporate sustainability

Column

‘More for less’

Published on April 1, 2022, 10:12 p.m.

The merger of technology and SDGs – A game-changing win of the era