Shares of ASK Automotive fell by 5.4 percent to its day’s low of INR 442.05 on the BSE on 26 September 2024 as the automotive supplier’s INR 5.16 million Offer For Sale (OFS) opened for subscription for the non-retail category.

The floor price for the issue has been set at INR 433 per share and 119,271 shares are available for subscription. At this price, the total size of the issue would come to is INR 5.16 million.

Claimed to be India’s largest manufacturer of brake shoes and advanced braking systems (ABS) for two-wheelers with a market share of about 50 percent in FY2022-23 in terms of production volume for OE and organised aftermarket, Delhi NCR-based ASK Automotive expanded its manufacturing footprint recently to supply to electric two-wheeler products from OEMs like TVS Motor Company, Ather Energy, Hero MotoCorp, Greaves Cotton, Bajaj Auto and Revolt.

While it increases its market share in what is considered to be an extremely competitive and ruthless market place, its promoter Kuldip Singh Rathee is said to be keen to sell a 6.05 percent equity position through an OFS on 27 September 2024.

Comments (0)

ADD COMMENT

Link Copied!

Tier 1 automotive supplier Uno Minda has launched its next-generation 2-Way and 3-Way Car Dash Cam DVRs in the Indian aftermarket. The launch meets the growing demand for in-car safety technology and reliable evidence in the event of accidents.

The new DVRs offer multi-channel recording with up to 4K Ultra HD resolution, aiming to provide smarter and safer driving experiences for consumers.

The new dash cams feature advanced capabilities for comprehensive road coverage:

The two new Car Dash Cam DVR models feature a Gravity Sensor that automatically locks footage during impacts. The top-tier 3-Way Car Dash Cam DVR, available for INR 14,999 (including a one-year warranty), offers Triple Channel Recording with up to 4K/2K Ultra HD for the front camera and 1K resolution for both the in-cabin and rear cameras for all-round coverage, alongside a 120degree–140degree Wide Field of View to minimise blind spots. In contrast, the 2-Way Car Dash Cam DVR, priced at INR 12,999, provides Dual Channel Recording with 4K Ultra HD from the front and 1K from the rear camera for journey coverage, and features a 160-degree Wide-Angle Lens that captures a broader view of the road.

Karna Markan, Head – Sales & Distribution (Accessories), Uno Minda (Aftermarket), said, “At Uno Minda, our mission is to bring advanced automotive technology into the hands of everyday consumers, making driving safer, more convenient, and more enjoyable. These advanced DVRs are designed to offer multi-channel recording with upto 4K Ultra HD resolution, view recorded videos wirelessly on mobile phone, and advanced safety features, ensuring a smarter and safer driving experience. These products represent a significant step forward in providing consumers with reliable and easy-to-use aftermarket solutions that enhance both safety and driving confidence.”

Comments (0)

ADD COMMENT

Link Copied!

Meta Materials Circular Markets (MMCM), a circular economy solutions platform, has announced the launch of India’s first circularity-linked carbon credits from End-of-Life Vehicles (ELVs). The company expects the project to achieve 2 million tonnes of CO2 savings by the end of the decade.

Under the Cercarbono standard, MMCM said it has introduced a global solution by integrating circular economy principles into carbon markets. This establishes a verifiable mechanism that links carbon reduction with material recovery.

The credits are expected to see demand, positioning India as a supplier of high-integrity, circularity-linked carbon assets. The project has the potential to unlock INR 10 billion in climate finance for the Registered Vehicle Scrapping Facilities (RVSFs) ecosystem.

MMCM has partnered with over 20 RVSFs nationwide, including Tata Re.Wi.Re and Mahindra CERO.

For every one tonne of ELV responsibly scrapped and recycled, approximately 0.6 tonnes of CO2 emissions are saved. These credits not only capture avoided emissions but also the recovery of materials such as steel, aluminium and plastics, which are reintroduced into manufacturing cycles. This creates a dual advantage for India Inc – credible Scope 3 emissions offsets and the development of low-carbon supply chains.

Nitin Chitkara, CEO, MMCM, said, “Circularity-linked carbon credits open a new paradigm where India can decarbonise while simultaneously creating value from recycling. This model not only supports India’s net zero ambitions but also strengthens industrial ecosystems with sustainable resource recovery. As COP30 nears, India is ready to showcase carbon innovation with global impact.”

Yashodhan Ramteke, Head of Carbon BU, MMCM, added, “By quantifying and trading ELV-linked carbon credits, we are demonstrating how emission savings and circularity can work together, setting the stage for India to become a leader in next-generation carbon finance.”

The initiative aims to reimagine ESG (Environmental, Social and Governance) strategy by turning automotive waste into an economic opportunity, strengthening industrial supply chains and accelerating progress on the Net Zero pathway.

Comments (0)

ADD COMMENT

Link Copied!

Ola Electric has scaled up its Hyperservice into an open platform, making its proprietary service infrastructure and technology available to the wider industry. This move, the company said, will extend access to genuine spare parts, diagnostic tools and service training modules to independent garages, mechanics and fleet operators across India.

Starting now, genuine Ola Electric spare parts can be purchased directly through the Ola Electric Customer App and website. The company aims for this to mark a new era of service freedom for its customers, allowing them to choose where and how to service their vehicles.

In the initial phase, key spare parts are available, with subsequent phases during the quarter planned to extend access to diagnostic tools and technician certification programmes.

The company states that its Hyperservice scale-up will further strengthen its unit economics by expanding its high-margin parts and accessories vertical, which scales organically with its customer base. By opening access, Ola Electric aims to drive higher volumes through its supply chain, creating a scalable and profitable model.

Bhavish Aggarwal, Chairman and Managing Director, Ola Electric, said, “We have built our service ecosystem from first principles, using technology to make it fast, transparent and efficient. With Hyperservice scale-up, we are opening this capability to everyone. Every garage, fleet, and customer can now access the same high-quality tools, parts, and systems that power Ola’s own network. Genuine parts, full transparency and no middlemen. This is true service freedom, only possible in a D2C model.”

The initiative is also designed to create an opportunity for India’s garage ecosystem, allowing mechanics to self-train and become Ola-certified on EV technologies, potentially creating new income streams and skilled EV technicians nationwide.

Comments (0)

ADD COMMENT

Link Copied!

Shriram Automall India (SAMIL), one of the leading platforms for pre-owned vehicles and equipment, generated business worth over INR 1 billion during its Diwali Auction 2025. This result was achieved across more than 135 live auctions conducted nationwide, despite recent price cuts on new vehicles under the new GST rates.

The company said over 11,000 pre-owned vehicles and equipment were transacted from various sellers, including NBFCs, Banks, OEMs and insurance firms. Approximately 13,000 buyers participated in the auction across the country.

The auction was powered by SAMIL’s 'Phygital' model, which seamlessly integrated live, on-ground auctions at Automalls with real-time digital bidding via the MySAMIL App and its website.

Sameer Malhotra, Director and CEO, Shriram Automall India, said, "The SAMIL Auction 2025 was a celebration of India’s entrepreneurial spirit and the power of its festive joy. Hosting 135 auctions simultaneously and achieving over INR 1 billion in transactions in a single day is not just a milestone; it’s a testament to trust, technology, and teamwork. Our auction model, AI-powered bidding, and real-time dashboards have redefined how Indians buy and sell pre-owned assets.”

As part of its corporate social responsibility, SAMIL awarded Junior Einstein Scholarships to children of individuals from the automotive industry. Additionally, the company conducted tree plantation drives at every auction location to support environmental sustainability.

Comments (0)

ADD COMMENT

Link Copied!