RSB Group, one of India’s largest automotive component manufacturers, is celebrating its 50th anniversary and has plans to honour the decades of innovation, resilience and growth by achieving 3X growth in the next three to four years.

RSB Group was founded by brothers R K Behera and S K Behera in 1974 with just INR 200,000, which included a state subsidy for Technocrats for INR 20,000. The company has now expanded into an INR 30 billion-plus industry major, employing more than 6,000 people, and plans to celebrate the 50-year milestone by focusing on surpassing the INR 100 billion revenue mark before launching an IPO in the next 3-4 years.

These expansion aspirations will be greatly aided by a recent strategic alliance with Bain Capital, which made an investment in RSB a few months ago. With a strong emphasis on global markets, especially when it comes to growing operations in Mexico, this partnership will help both organic and inorganic growth. At the moment, RSB runs two factories abroad, 17 manufacturing sites in India and a tech subsidiary called I-DESIGN Engineering Solutions Ltd in Pune. Major domestic and foreign customers of the firm include Ford, Fiat, Isuzu, Cummins, John Deere, Volvo, Renault Nissan, JCB, Ashok Leyland, Mahindra & Mahindra and Tata Motors.

Early difficulties notwithstanding, RSB's journey acquired tremendous impetus with a crucial contract from Tata Motors, which resulted in growth of almost 75 percent annually until 1990 and a steady 25 percent CAGR after that. In order to give OEMs a comprehensive solution and establish itself as a powerful player in the e-mobility industry, RSB is also investing in the electric vehicle (EV) market as part of its sustainable growth plan. RSB is working with an Israeli startup to create EV solutions, such as controllers, motors, and e-axles. Over the next five years, the business plans to generate 25 percent of its income from EV components and 75 percent from conventional car components as part of a strategic revenue mix.

R K Behera, Chairman, RSB Group, stated, “Looking back on 50 years of RSB, I am deeply grateful for the journey we’ve taken. The celebration is not just about marking a milestone; it’s a tribute to the humble beginning, to the dedication and shared values that have brought us here. This journey wasn’t one I took alone; it was built alongside my brother, S K Behera, whose support and determination carried us through our most challenging times. In the beginning, we faced intense struggles – limited resources, financial setbacks and constant hurdles – but with SK by my side and the unyielding spirit of our employees, we persisted. Every success is truly a testament to the sacrifices, resilience and dedication of our RSB parivar. As we look forward, I urge our next generation to hold fast to these values of integrity, quality and respect. They are also expected to have a strong focus on sustainability. Together, we have not only achieved growth but also built a legacy that we can proudly pass on, impacting our communities and industry for years to come.”

S K Behera, Vice Chairman, RSB Group, said, “Our journey from a small workshop to an industry leader with an INR 30 billion-plus revenue base has been one of resilience, strategic vision and a focus on excellence. From the earliest days, we were guided by the belief that taking care of our people would allow us to achieve remarkable things. Every milestone reflects the hard work, talents and sacrifices of our employees, whose dedication and commitment have driven RSB forward. As we now embrace new opportunities – from electric vehicle technology to expanding into international markets – our focus remains on building with integrity and quality. Looking to the future, we will continue setting new industry standards, not just for growth but for creating lasting value and impact in every market we enter. We are exploring a few opportunities, and a decision will be taken in a few months.”

Minda Corporation, the flagship company of Spark Minda Group, has announced a strategic partnership with Pune-based component supplier Flash Electronics to further strengthen their role in the electric vehicle segment.

As per the understanding, Minda Corp is set to acquire 49 percent stake in Flash Electronics for a cash consideration of INR 13.72 billion. Flash Electronics is expected to clock INR 15 billion revenue in FY2025, EBITDA margin of 14 percent and ROCE of over 22 percent.

The strategic partnership will see Minda Corporation’s automotive body electronics and Flash’s automotive engine and powertrain electronics complement each other to offer a diverse range of solutions to its customers.

Furthermore, Flash is already a leading supplier of electricals and electronics for two- and three-wheeler segment, along with a diverse range of products such as motors, motor controllers and vehicle control units among others for EV powertrain. Minda Corp on its part has recently introduced a range of products such as DC-DC converters, battery telematics, power electronics products and battery chargers among others. The joining of forces between the two company will see them extend their relationships with automakers to become a complete system integrated supplier.

Ashok Minda, Chairman & Group CEO, Minda Corporation, said, “I have had the privilege of knowing Sanjeev Vasdev for many years, and we together are thrilled to embark on this strategic partnership journey with Flash Electronics. I am confident along with Sanjeev, I will be able to take this partnership to staggering heights. One plus one will be eleven. This partnership fits perfectly, strategically and financially in Minda Corporation’s long-term vision of creating value for customers and shareholders.”

Sanjeev Vasdev, Managing Director, Flash Electronics (India), added, “I am confident that this partnership will catapult both the companies to a different level, the thing I am most excited about is having Ashok by my side and also having the opportunity to interact and work with Aakash. I believe that this partnership will set new benchmark for the industry and create more opportunities for employees for both the companies through technology advancements.”

SEG Automotive,  one of the leading suppliers of start-stop solutions for the automotive industry, is now looking to make smart inroads in the Indian electric vehicle segment.

The company has expanded its product offerings in the country with three new products: the C8M alternator for IC vehicles, a 48V electric drive system and drive control unit, and a 3-in-1 electric drive unit for electric vehicles. These products will support a wide range of vehicle segments, such as two-wheelers (scooters and motorcycles), three-wheelers (L3 & L5), and passenger vehicles.

These three new products will enable the company to further scale up volume sales not only in India but also in the global market.

Ferdinando Sorrentino, Global CEO, SEG Automotive, said, “While the automotive market is moving towards newer sustainable technologies, SEG Automotive’s extensive range of product portfolio plays a pivotal role at the forefront of the sustainable mobility. To drive future growth, we are re-orienting towards ‘outside-in’ market approach, #New Journey, to be able to offer tailor made solutions for different markets in different regions through global synergies.”

Anil Kumar MR, Managing Director, SEG Automotive, said, “While we achieved a market leadership position in ICE with our innovative products, our commitment and innovations continue to remain strong for internal combustion engines (ICE), as part of the global strategy of ‘Last Man Standing’. We would also like to state with pride that SEG India is evolving as center of competence for light electric mobility (LEM) catering global needs. We are also developing system solutions for high-voltage applications, and our product portfolio ranges from 30kW to 250kW. This exemplifies our ability to #leadthechange based on market requirements.”

It is interesting to note that the new solutions from SEG Automotive will not only support the country’s electrification drive but also be explored as export solutions for several markets, including the ASEAN region, Africa, and neighbouring countries.

The company expects its early mover advantage, along with its existing relationship with ICE OEMs, to make it an ideal partner for their electrification journey.

Cummins Group in India (Cummins), a leading power solutions technology provider, will showcase its advanced integrated solutions for commercial vehicles (CVs) at the upcoming Bharat Mobility Global Expo 2025. 

The company will unveil various products such as fuel-efficient powertrains, zero-emission platforms and end-to-end ecosystem solutions.

Shveta Arya, India Region Leader for Cummins, said, “At Cummins, we are deeply committed to India’s growth story and take immense pride in our contributions to its journey of self-reliance. Guided by our long-term sustainability strategy, Planet 2050, we are leveraging our 60+ years of presence and technological expertise to power progress. This aligns with supporting the country’s vision of ‘Make in India’ and sustainable development. Our participation in the Bharat Mobility Global Expo reaffirms this commitment to address India’s evolving transportation needs and help it advance on its decarbonization journey.”

Nitin Jirafe, Managing Director, Tata Cummins and Head, Engine Business, Cummins, said, “The automotive industry is evolving rapidly, driven by stringent emissions regulations and the demand for innovative, cost-effective solutions. Cummins as an independent power solutions technology provider with a comprehensive technology portfolio, is uniquely positioned to address these dynamic needs. Guided by our Destination Zero strategy, we deliver integrated systems that offer unmatched performance, reliability and productivity. At the Bharat Mobility Global Expo, we will showcase future-ready technologies that empower customers to navigate the future of commercial mobility while achieving environmental sustainability and business success.”

Image for representational purpose only.

Portugal-headquartered Sodecia Group has inked a strategic long-term partnership with German automotive supplier Huf Group. Sodecia is set to acquire a minority stake in Huf Group along with commitment to increase its shareholding by 2028.

Furthermore, Sodecia will provide significant funds and enable Huf to execute its future growth strategy, along with Rui Monteiro, CEO and owner of Sodecia, will also become the new CEO of Huf next year.

It was last year that Huf had begun the search for a strategic partner to attain its growth targets in line with its new corporate strategy ‘Grow beyond’. Sodecia is set to acquire 30 percent initially of Huf's shares and in return will provide significant shareholder funds to execute future growth strategy.

The partners have further agreed that by 2028 Sodecia will acquire majority of Huf’s shares. All the while, Huf will continue to operate as a separate entity, headquartered in Velbert, Germany and with representatives of the Huf founding families Hulsbeck and Furst as part of Huf’s advisory board. Dirk Fischer will support Monteiro as the COO and Rainer Heupel as CFO.

Ulrich Hulsbeck, Chairman of the Huf Advisory Board, said, “Sodecia is the ideal partner for Huf. The family-owned company from Portugal has extensive expertise and resources that will enable Huf to not only strengthen its operational excellence, but also to invest in even more innovative car access and authorisation solutions.”

Florian Graf, Deputy Chairman of the Huf Advisory Board and a descendant of the second Huf shareholder and founder family (Furst), added, “We have built a very solid foundation of trust with those in charge at Sodecia and in particular with Rui Monteiro over the past months. We are pleased that Monteiro will take over the role of CEO at Huf next year. Tom Graf will leave Huf on 31 December 2024. We would like to thank Graf for his successful work over the last six years restructuring Huf and wish him all the best for the future.”

Rui Monteiro, CEO and Owner, Sodecia, stated, “Huf has enormous potential and I am looking forward to working with its employees. Huf has full order books, a future-proof product portfolio and dedicated teams worldwide. With Huf, we are gaining an established, global partner for the Sodecia Group with high reputation at automotive manufacturers and also known for top quality. The entire Sodecia Group and thus our customers, but also other partners worldwide will benefit from it.”

Huf Group has established its presence in 17 locations in Europe, America and Asia. It is a leading supplier of mechanical, electronic and software solutions for the global automotive industry.