Magenta, India’s homegrown integrated Electric Vehicle (EV) charging solutions company, confirmed a significant investment into Axiom Energy Conversion Limited, a leading EV component manufacturer.
Tag: investment
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Piramal Enterprises-backed IndiaRF to invest $830 mn in Setco Group
India Resurgence Fund ("IndiaRF"), promoted by Piramal Enterprises Limited and Bain Capital Credit has made an announcement related to an investment of $830 million in Setco Group.
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SMIC to invest $8.87 bn to set up a wafer production line in Shanghai
SMIC established a JV with China (Shanghai) Pilot Free Trade Zone Lin-Gang Special Area Administration to contribute 51%. The new line will have a capacity of 100,000 12-inch wafers a month.
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Minda Corp buys 26% stake in charging solutions start-up EVQPOINT
Spark Minda acquired a 26% equity stake in EVQPOINT Solutions - a charging solutions start-up. Spark Minda will become the exclusive technology and manufacturing partner for battery chargers and EV supply equipment for EVQPOINT.
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Bengaluru-based start-up OTO raises $ 6 million
OTO, a two-wheeler buying, and financing innovator announced that it raised $6M in a Series A investment round led by Matrix Partners India.
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MG Motor to invest Rs 25 billion to increase capacity of Halol plant
The auto-major plans to launch its mid-size SUV, Astor, around Diwali. MG Motor India expects its sales to grow by 100%, despite the global shortage of semiconductors, which will last six months.
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China’s Great Wall Motors shifts $1 bn investment from India to Brazil
GWM is planning to shift its $1 billion investment in India to Brazil. Sources revealed that James Yang, the head of GWM’s operations in India, has been transferred to focus on the Brazilian market.
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Sundaram Finance buys additional 8.3 % stake in Mind Srl
SFHL’s board of directors approved an investment of two million euros in the form of cash consideration. This move will increase SFHL’s stake in Mind Srl from 40.6% to 48.9%.
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Amara Raja Batteries to invest in Log 9 Materials
Log 9 Materials, announced an equity partnership and collaboration with Amara Raja Batteries (ARBL), and raised an investment of $5 Million from ARBL during its ongoing Series A+ funding round.
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Omega Seiki Mobility to invest Rs 1 bn in new EV manufacturing facility
The first of the many EV manufacturing facilities will be set up in Ghazipur, Uttar Pradesh. Omega Seiki will be investing Rs 1 bn in the state and creating 10,000 jobs in the next two years in Ghazipur.