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. 


Biogas

BioEnergy will showcase its innovative biogas technology in India

German BioEnergy enters Indian market

Published on Aug. 17, 2023, 11:54 a.m.

BioEnergy will showcase its innovative biogas technology in India

Mobility

Ather aims to produce 20,000 units every month, soon

Ather looks to double its market share

Published on Aug. 17, 2023, 11:26 a.m.

Ather aims to produce 20,000 units every month, soon

Green Hydrogen

German Development Agency, GIZ is working on a roadmap for a green hydrogen cluster in Kochi

‘Kerala Hydrogen ecosystem a model for all states’

Published on Aug. 17, 2023, 11:06 a.m.

German Development Agency, GIZ is working on a roadmap for a green hydrogen cluster in Kochi

Renewable Energy

AGEL set to play a big role in India’s carbon neutrality target

Adani Green eyes 45GW RE

Published on Aug. 17, 2023, 10:45 a.m.

AGEL set to play a big role in India’s carbon neutrality target

E-MAGAZINE

Agriculture

The introduction of black pepper as an inter-crop in the sopari and coconut orchards, has enabled farmers to cultivate crops simultaneously

Skill Development

In 2020-21, the programme reached over 112,482 girls in urban and rural locations across six states in India, including 10,000 across Delhi

Collaboration

The event brought together stakeholders and changemakers to participate in a series of conversations on global trends and recent developments

Healthcare

The programme will focus on educating children on oral health and building awareness around the dangers of tobacco use