Tier 1 suppliers Valeo has announced that based on the successful joint development with a European OEM on the magnet-free electric motor technology (EESM – Externally Excited Synchronous Motor), it is now extending its portfolio of magnet-free electric motors towards upper segment vehicles together with component major Mahle.

The partners have joined forces to develop an innovative magnet-free electric axle system, targeting upper segment electric vehicles with peak power ranging from 220 kW to 350 kW.

The iBEE system (inner Brushless Electrical Excitation), is a cutting-edge technology that aims to revolutionise performance and efficiency of magnet-free electric motors. Valeo and Mahle signed a Joint Development Agreement to combine both Valeo’s expertise in electric motors, highly efficient inverters and associated motor control laws and the expertise of Mahle on magnet-free rotor with its Mahle Contactless Transmitter (MCT) technology.

They are working on an innovative cooling concept in order to achieve an outstanding continuous to peak power ratio. Moreover, the carbon footprint is expected to be reduced by more than 40 percent versus a permanent magnet electric motor of equivalent power. The testing of the first prototypes will be completed by the end of 2024.

Xavier Dupont, Valeo Power Division CEO said, “This cooperation with Mahle is a perfect match. Mahle develops the EESM rotor and their brushless excitation system. Based on our power electronics know-how, Valeo provides a dedicated control of this electric motor and brushless system embedded in our inverter. This partnership allows Valeo to complete its EESM portfolio towards upper segment and is key to support the evolution of the automotive industry towards more innovative sustainable solutions.''

Martin Wellhoeffer, Member of the Mahle Group Management Board said, “In this project two front runners of electrification are joining forces. The new e-axle will benefit from Mahle’s expertise in contactless transmitter technology. Together we will be setting a new benchmark in packaging and efficiency for EESM based e-axles and taking the next step for our customers towards future mobility.”

Valeo's first EESM development is based on cooperation with a European OEM launched in 2022 in order to create a new magnet-free electric motor generation (EESM). The initial targets of the project were double; first to get an all-in-one architecture with a new stator and cooling technology in order to increase by 30 percent the power density compared to the current motors equipping the current OEM’s vehicles on the road. Secondly, to shrink its carbon footprint by 30 percent versus an electric motor equipped with magnets (PMSM). A validation phase for more than 6 months was successfully ended with results level over the initial expectations in terms of power and efficiency especially thanks to Valeo inverter expertise.

The performances match the level of permanent magnet electric motors for B/C segment vehicles with all benefits of a magnet-free technology (no rare earth and lower carbon footprint)

As part of its electrification strategy Mahle has been focusing on developing electric drive systems. Its contactless transmitter technology for magnet-free electric motors is testament to the company’s strong expertise in this field. Thanks to its high maturity level it is a key enabler for the next evolution of EESM-based e-axles.

Avoiding the use of rare earth materials does not only positively contribute to the sustainability of e-mobility, but is also advantageous in terms of costs and resource security. The key feature is the inductive and thus contactless and wear-free power transmission allowing motor operation at benchmark efficiency level.

Kinetic Engineering Ltd (KEL), a key player in India's automotive components business, plans to issue convertible warrants worth INR 1.77 billion with an 18-month conversion term as part of a strategic move proposed by its promoters. With the consent of SEBI and shareholders, the promoters have pledged to spend INR 550 million by March 2025, which comprises 25 percent of the warrant subscription amount for further investments. A total of INR 171 million has also been subscribed for by outside investors in warrants; Transaction Square LLP and Sai Geeta Penumetsa are two significant contributors.

A phased commitment of INR 600 million by March 2025, INR 440 million by March 2026, and INR 730 million by March 2027 is outlined in the investment plan. With the help of this strategic plan, Kinetic Engineering Ltd. (KEL) hopes to surpass its present sales of INR 1.5 billion and reach its ambitious revenue objective of INR 10 billion by 2029. Additionally, it supports the promoters' goal of raising their ownership of the business from 59 percent to 70 percent by 2027.

The promoters' share has increased gradually since 2017, rising from 49 percent to 70 percent, representing a 21 percent total gain. By July 2027, the promoters will have received about INR 9.36 million in additional shares as part of this plan, increasing their overall holdings to 22.6 million shares and the company's total outstanding shares to 32.6 million. Along with family-owned trusts, the Arun Firodia Trust and the Jayashree Firodia Trust, the investment is led by Arun Firodia, the company's founder and chairman.

The promoters' faith in KEL's long-term plan is demonstrated by this capital injection and the sale of strategic warrants, which position the business to take advantage of new possibilities in the changing mobility market. The investment will be used to improve production capacities, boost working capital, and stimulate product development innovation, especially in high-growth sectors like electric vehicle (EV) components.

Ajinkya Firodia, Vice Chairman, Kinetic Group, said, “Kinetic Engineering Limited has over 50 years of experience in manufacturing. It has successfully transformed into an auto components business and enjoys strong relationships with the world’s largest OEMs. Leveraging these long-standing partnerships, we expect to finalise significant business deals shortly. Additionally, we are heavily focused on the EV segment, with plans for our subsidiary, Kinetic Watts & Volts, nearing finalisation. These initiatives will drive an 8x to 10x revenue growth, and we are pleased to make this investment to meet the required capital expenditure, working capital and growth initiatives. This infusion of capital from the promoters reinforces our growth blueprint, enabling us to take bold strides toward achieving our INR 10 billion revenue milestone. We are committed to using this investment to fuel innovation, improve operational efficiencies and meet the evolving demands of the automotive and EV industries. This capital infusion empowers us to accelerate our transformation journey, explore new business verticals and unlock greater value for our stakeholders. The time for Kinetic to reinvent, grow and scale up has arrived. Our priority is to build a future-ready organisation that anticipates market shifts and responds proactively.”

Kinetic Engineering Ltd. (KEL), a key player in India’s automotive components industry, unveiled a major strategic initiative involving a convertible warrant issue worth INR 1.7 billion. The warrants, with an 18-month conversion period, include an initial investment of INR 550 million by March 2025 from the promoters. This represents 25 percent of the warrant subscription amount for future investments, pending approval from SEBI and shareholders. Additional commitments include INR 171 million from external investors with notable contributors such as Transaction Square LLP and Sai Geeta Penumetsa.

The phased investment plan allocates INR 600 million by March 2025, followed by INR 440 million by March 2026 and INR 730 million by March 2027. This capital infusion supports KEL’s goal of achieving a revenue target of INR 10 billion by 2029, a dramatic increase from its current revenue of INR 1.5 billion. The strategy also aims to raise the promoters’ stake in the company from 59 percent to 70 percent by 2027.

Since 2017, KEL’s promoters have steadily increased their stake from 49 percent to 59 percent with the current initiative boosting holdings by an additional 11 percent. Approximately 93.5 lakh new shares will be issued to promoters, bringing their total to 2.26 crore shares and increasing the company’s outstanding shares to 3.26 crore by July 2027. The investment is led by founder and chairman Arun Firodia, supported by family trusts—the Arun Firodia Trust and Jayashree Firodia Trust.

The infusion of capital and warrant issuance highlights the promoters’ confidence in KEL’s long-term strategy, enabling the company to enhance working capital, improve manufacturing capabilities, and accelerate innovation in high-growth areas such as electric vehicle (EV) components.

Driving Growth Through EV and Innovation
KEL’s aggressive growth strategy focuses on an expanded export business, a diversified portfolio and cost-reduction initiatives. The company is sharpening its focus on EVs through its subsidiary, Kinetic Watts & Volts, incorporated in September 2022. The subsidiary is developing advanced drivetrain solutions, gear systems, and other innovative products set to be unveiled soon.

To deepen its footprint in the EV sector, KEL is bolstering its developmental capabilities and exploring collaborations with OEMs. Its long-term strategy emphasises sustainable growth, enhanced domestic and international market presence, and maintaining leadership in the automotive components sector.

The promoters’ commitment to increased investment and stake expansion underscores their confidence in KEL’s future, positioning the company to capitalise on opportunities in the evolving mobility landscape. With a focus on innovation, value creation, and strategic execution, KEL is poised for transformational growth in a competitive market.

Commenting on the development, Firodia said, “Kinetic Engineering Limited has over 50 years of experience in manufacturing. It has successfully transformed into an auto components business and enjoys strong relationships with the world’s largest OEMs. Leveraging these long-standing partnerships, we expect to finalise significant business deals shortly. Additionally, we are heavily focused on the EV segment, with plans for our subsidiary, Kinetic Watts & Volts, nearing finalisation. These initiatives will drive an 8x to 10x revenue growth, and we are pleased to make this investment to meet the required capital expenditure, working capital, and growth initiatives. This infusion of capital from the promoters reinforces our growth blueprint, enabling us to take bold strides toward achieving our INR 1,000 crore revenue milestone. We are committed to using this investment to fuel innovation, improve operational efficiencies, and meet the evolving demands of the automotive and EV industries.”

Tata Power EZ Charge took the spotlight at the Bharat Mobility Global Expo 2025, presenting its extensive infrastructure network and diverse offerings tailored to various customer segments.

At the event, Tata Power EZ Charge reinforced its commitment to seamless EV adoption in India, focusing on technological innovation, green energy integration and strategic network expansion. Its expansive charging network aims to eliminate range anxiety, offering solutions across urban areas, residential societies, highways and commercial hubs, catering to passenger cars, buses, trucks, fleets and more.

A key highlight was the EZ Charge mobile app, empowering users with real-time updates to locate chargers, check availability, and manage charging sessions effortlessly. Complementing this, the company introduced RFID-enabled cards, allowing EV owners—regardless of brand—to charge at Tata Power outlets without relying on the app.

The exhibit also featured cutting-edge solar-powered chargers and advanced solutions incorporating renewable energy. Prototypes of these chargers, alongside fast-charging systems and AI-driven monitoring technologies, showcased Tata Power’s leadership in EV charging innovation.

Tata Power’s EV charging network now comprises over 5,500 public chargers across 550 cities and towns, complemented by over 120,000+ home chargers and 1,100 bus charging points. Strategically placed infrastructure along more than 550 national highways connects key routes such as Delhi–Chandigarh, Bengaluru–Chennai, Mumbai–Goa, and Guwahati–Shillong, enabling long-distance EV travel. This network has already facilitated over 165 million green kilometres, advancing India’s clean energy transition.

Sustainability is at the core of Tata Power’s operations. With over 1,000 green energy-powered chargers including solar-integrated solutions, the company is reducing dependence on conventional energy sources and reinforcing its commitment to eco-friendly transportation.

Collaboration with leading OEMs, including Tata Motors and Jaguar Land Rover, has enabled the deployment of 5,500 public and semi-public chargers, ensuring compatibility with a wide range of EV models. Tata Power’s state-of-the-art Network Operations Centre (NOC) in Mumbai oversees the network in real-time, ensuring reliable performance and rapid issue resolution.

Looking ahead, Tata Power aims to install high-speed chargers along key highways over the next five years, prioritising accessibility in metropolitan areas, rural regions, and high-traffic tourist destinations. This growth aligns with the Indian government’s vision for sustainable transportation and initiatives like EV30@30 and the National Electric Mobility Mission Plan.

Through its robust infrastructure, renewable energy integration, and focus on innovation, Tata Power EZ Charge is driving India’s e-mobility revolution, paving the way for a cleaner, greener, and more accessible future.

Mahle is taking a significant step in its transformation by refining its corporate structure to enhance agility and efficiency under its 2030+ strategy. The changes involve merging business units to strengthen the core areas of electrification and thermal management, both structurally and operationally. As part of this restructuring, Mahle will acquire the remaining 25 percent minority stake in its thermal management subsidiary, Mahle Behr GmbH and Co. KG, cementing its commitment to this strategic area. The group management board reduced from seven members to four, effective 1 January 2025.

Starting in 2025, Mahle consolidated its five business units into three. Four existing units merged to form two new entities, aligning related production technologies to accelerate internal collaboration and establish a more cohesive operational framework.

“Mahle is doing its homework for the transformation,” said Chief Executive Officer Arnd Franz. He added, “Through these far-reaching changes, we will make our business ready for the future. We are accelerating the implementation of our group strategy which will position us as an innovative and sustainably profitable shaper of future mobility.”

Chairman of the Mahle Supervisory Board Dr. Heinz K. Junker said, “Through the reorganisation and the resulting streamlining of the Management Board, we will significantly improve the integration of our group and be able to make more effective use of synergies.”

The company’s Chief Exectuive Officer emphasised that this reorganisation would not only improve internal cooperation but also provide new opportunities for locations historically tied to combustion engine technologies, enabling them to apply their expertise to emerging, future-oriented sectors. This restructuring is also expected to create a high-performance production network while delivering cost savings.

The new powertrain and charging business unit will integrate the former engine systems and components and electronics and mechatronics units. This move will leverage Mahle’s extensive experience in engine systems to advance its electrification strategy, focusing on efficient electric motors and intelligent charging solutions. A key success in this area is the development of the electric compressor, one of the company’s most prominent products.

Similarly, the thermal and fluid systems business unit will combine the former filtration and engine peripherals and thermal management units. By integrating filtration expertise into its thermal management capabilities, Mahle aims to deliver competitive, future-oriented technologies to the market. The company’s dedication to thermal management is further demonstrated by its full acquisition of Mahle Behr GmbH & Co. KG, completing a process that began with its initial stake in 2010.

The aftermarket division with its established product range and growing focus on electrification and digitalisation will continue as a standalone unit under the new name lifecycle and mobility.

Franz will remain management board chairman and CEO while also assuming the role of statutory Labour Director, as human resources will no longer be a separate function on the board. Dr Beate Bungartz, the current labour director, stepped down on November 29, 2024. Markus Kapaun will continue as Cheif Financial Officer. Jumana Al-Sibai, currently responsible for the thermal management unit, will lead the new thermal and fluid systems business unit. Martin Weidlich, previously in charge of filtration and engine peripherals departed the company on November 29, 2024.

Georg Dietz, presently heading the engine systems and components unit, will lead the new powertrain and charging business unit. Additionally, Martin Wellhoeffer, currently overseeing the electronics and mechatronics unit, will transition to the thermal and fluid systems unit as Chief Operating Officer.

With its restructured organisation, Mahle aims to strengthen its position in electrification and thermal management while ensuring a more agile and cost-effective approach to future challenges. 

“Following several major acquisitions in the thermal management field, this step will successfully complete the integration of this business in the Mahle Group,” said Franz.

Commenting on the development, Junker said: “On behalf of the Mahle supervisory bodies, I would like to thank the management board members Dr. Beate Bungartz and Martin Weidlich, who are now leaving the group, for their excellent and dedicated work. In his five years with Mahle, Weidlich has performed great services both for the filtration and engine peripherals business unit and in his group responsibility for operational excellence, production and purchasing. Over the past two years, Bungartz has successfully continued the development of our human resources organisation and has initiated the transformation dialogue with employee representatives in Germany. Bungartz and Weidlich have my best wishes for their personal lives and careers in the future. Equally, the supervisory bodies and I would like to thank Wellhoeffer for his considerable commitment as a management board member. Under his leadership for almost two years, the electronics and mechatronics business unit has significantly expanded the competences of Mahle in the fields of efficient electric drive systems and intelligent charging. We are convinced that Wellhoeffer will forge ahead with the operational excellence and transformation as COO of what is to be our largest business unit in the future."