Caption: Matthias Eden, Head of Group and Brand Purchasing Metal Raw Material and Exhaust Systems, Volkswagen Group Michael Bäcker, Head of Group Procurement Metal, Volkswagen Group Dennis Grimm, Spokesman of the Executive Board Thyssenkrupp Steel Simon Stephan, Sales Automotive, Senior Vice President, Thyssenkrupp Steel.

Volkswagen Group and Thyssenkrupp Steel have signed a Memorandum of Understanding (MoU) for the planned supply to Volkswagen Group of low-carbon steel from Thyssenkrupp Steel’s future direct reduction plant.

This agreement the partners state underscores the joint commitment to sustainability and climate protection, marking a further milestone in their long-standing partnership.

The Thyssenkrupp Steel direct reduction plant is scheduled to be commissioned from 2027. It will operate with hydrogen and green electricity, which will significantly reduce its carbon footprint. At the start of the ramp-up phase, the plant will use natural gas as the reducing agent, before the process is switched successively to hydrogen. The resulting product – bluemint Steel – will be certified in accordance with recognised standards and can qualify for the LESS Label A if the hydrogen used in production is generated entirely from renewable sources. This classification, developed by the German Steel Association flanked by Germany’s Federal Ministry for Economic Affairs and Climate Action, provides a full picture of a steel product’s climate impacts and documents its almost emission-free production.

Dirk Grobe-Loheide, Member of the Board of Management of the Volkswagen Brand responsible for Procurement and Member of Volkswagen AG’s Extended Executive Committee said, “Decarbonising supply chains is a decisive factor for the Volkswagen Group on the road to carbon neutrality. We want to achieve this goal by 2050 at the latest, and using low-carbon steel is an important step in making supply chains at Volkswagen Group even more environmentally friendly going forward. This MoU with Thyssenkrupp is an important building block in our strategic focus on the use of low-carbon steel.”

Dennis Grimm, Spokesman of the Executive Board of Thyssenkrupp Steel states, “Signing this memorandum of understanding marks an important step on our path to decarbonising key industrial processes in Germany. Our long-standing partnership with Volkswagen Group demonstrates that, alongside our technical development work, we can also collaborate in making great strides toward a sustainable future.”

Volkswagen Group is expected to benefit significantly from this innovative process to avoid CO2 emissions because 15 to 20 percent of an electric vehicle’s emissions are accounted for by the steel used. Moreover, this decarbonisation concept allows the manufacture of the full product portfolio in accordance with the usual specifications and in premium quality. Supplies are scheduled to start in 2028 and will then be expanded step by step.

The collaboration between the two companies increases their focus on the electromobility. It covers economical lightweight solutions for highly stable vehicle structures and electrical steel for efficient electric drive systems. Steel is playing a key role in the mobility transition, not only as a material for generators and electric engines but also as the material of choice for the bodies and other structural components of electric vehicles. In the context of electromobility, steel is becoming an increasingly important material because more of it is needed in electric vehicles – due to their large battery units – than in combustion vehicles.

The partnership between Volkswagen Group and Thyssenkrupp Steel demonstrates how sustainable solutions can be created thanks to innovative technologies and strategic alliances. It is one of a series of initiatives by the Volkswagen Group to expand the use of green steel in production. In addition to the collaboration with Thyssenkrupp Steel, Volkswagen Group has been in partnership with Salzgitter since 2022. Volkswagen Group and Vulcan Green Steel recently signed a MoU in respect of long-term partnership. The Group also has a stake in Swedish green steel manufacturer H2 Green Steel via its subsidiary Scania.

Tier 1 automotive component supplier Uno Minda has announced strategic restructuring of its leadership and Board of Directors. The transition effective from 1 April 2025, the company shared is a significant step towards enhancing governance, operational efficiency and long-term sustainability.

The company has announced a decisive move to separate the roles of Chairman and Managing Director, which it shared will enhance leadership clarity, reinforce operational focus and drive the company’s strategic vision.

Ravi Mehra, currently serving as Deputy Managing Director, will be elevated to the position of Managing Director, where he will oversee the company’s operations and management. Meanwhile, Nirmal Kumar Minda will transition to the role of Executive Chairman, focusing on strategic direction, business oversight and mentoring the leadership team. His role will also encompass championing employee development and fostering a sustainable organisational culture.

Mehra has been instrumental in the company’s growth since joining in 1995.

Furthermore, Uno Minda has also announced key appointments to its Board of Directors, which includes Shekar Viswanathan who brings over four decades of experience, having retired as Vice-Chairman and Whole-time Director of Toyota Kirloskar Motor.

Abhay Damle, Independent Director has held various key government positions, including Joint Secretary at the Ministry of Road Transport and Highways (MoRTH) and Director of the Central Institute of Road Transport, Pune.

Paridhi Minda and Pallak Minda, Non-Executive Directors, the daughters of Nirmal Kumar Minda add significant value through their diverse academic and industry experience. Paridhi holds a management degree from Bradford University, a certification from the London School of Economics, and has attended finishing school at Institut Villa Pierrefeu, Switzerland. Pallak is a graduate in Entrepreneurship from Delhi University, has also completed a Master’s Programme for Entrepreneurs and Family Businesses (MPEFB) from IIM Bangalore.

“This realignment and strengthening of our Board reflect Uno Minda’s unwavering commitment to robust corporate governance and sustainable growth. We are confident that Ravi Mehra’s leadership, along with the expertise of our new Board members, will be instrumental in driving Uno Minda’s continued success,” said Nirmal Minda.

Automotive component supplier Tata AutoComp Systems has entered into definitive agreements to acquire up to 80 percent shareholding of Artifex Interior Systems (formerly known as IAC UK). The move comes within less than a week of the company’s acquisition of IAC Sweden and is expected to further strengthen Tata AutoComp’s footprint in Europe. For FY2024-2025 Artifex is expected to clock a revenue of GBP 296 million.

Tata AutoComp has purchased the majority shareholding from Jaguar Land Rover Ventures, a subsidiary within the Jaguar Land Rover Automotive, which is part of Tata Motors. The move will further strengthen Tata AutoComp’s global presence and provide access to Artifex’s innovation in interior systems and components (including design, manufacture and integration of overheads systems, instrument panels, centre consoles, door panels and interior trim) to enhance the company’s relationships with key OEMs (including Jaguar Land Rover, BMW Mini, Bentley, INEOS, and Toyota) in the passenger vehicle segments, particularly in Europe.

Arvind Goel, Vice Chairman, Tata AutoComp Systems, said: “We are pleased to welcome Artifex into the Tata AutoComp family. This acquisition aligns with our strategic vision of expanding our global footprint and strengthening our expertise in automotive interior systems. Artifex’s advanced manufacturing capabilities and established customer relationships will enhance our presence in key markets, enabling us to deliver differentiated solutions and drive long-term growth.”

Manoj Kolhatkar, MD & CEO of Tata AutoComp Systems, added, “Artifex's technical expertise and advanced manufacturing capabilities enhance our technological leadership, strengthening our presence in the premium automotive segment.”

Pune-headquartered tier 1 supplier Varroc has appointed Liselott Kilaas as an Independent Director to its Board of Directors.

At present, Kilaas serves on the boards of multinational companies and has a proven track record of steering businesses through dynamic and complex environments. She holds a MBA from IMD Business School and Master’s Degree in Mathematics and Statistics.

This move the company shared is part of strengthening its leadership with global expertise and diverse perspectives.

Tarang Jain, Chairman & Managing Director, Varroc, said, “We are delighted to welcome Liselott Kilaas to our Board of Directors. Her vast experience and strategic insights will be invaluable in driving Varroc’s growth and enhancing our global competitiveness.”

Liselott Kilaas, said, “I am honoured and excited to join Varroc’s Board as an Independent Director. I look forward to contributing my expertise to support the company’s growth and strategic vision.”

American powertrain major BorgWarner has announced that it has elevated Chandrasekar Krishnamurthy as the Global Director of Product Management for BorgWarner PowerDrive Systems, effective 1 March 2025.

The company shared that the elevation is part of its future growth strategy, which aims to realign focus on its product family to drive competitiveness in cost, technical maturity, time to market, and compliance.

In his new role Krishnamurthy will be responsible for leading the product management team by accelerating product industrialisation readiness. Developing competitive product platform solutions in collaboration with other functions.

He will also focus on aligning product roadmaps with sales strategy, along with delivering competitive and compliant solutions on time. In addition, he will also contribute to engineering efficiency initiatives and continuously improve engineering development framework and product safety/security compliance.