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.

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Cummins India (CIL), a power solutions provider, marked its 30th anniversary of listing on the National Stock Exchange of India (NSE) with a ceremonial bell ringing. The event was attended by Ashishkumar Chauhan, MD & CEO of NSE and Shveta Arya, Managing Director of Cummins India.

Since its listing on 29 March 1995, CIL has delivered returns for its shareholders and stakeholders. Over the three decades: the company has delivered 76x shareholder returns at a Compound Annual Growth Rate (CAGR) of 16 percent. Revenues have grown nearly 19x at a 10 percent CAGR and Profit After Tax has increased 30x at a 12 percent CAGR.

CIL now ranks among the top 100 companies by market capitalisation on the NSE, with its market cap surging by 76x since the listing. The company has cumulatively paid out INR 89.10 billion in dividends.

Shveta Arya, Managing Director, Cummins India, said, “For over six decades, we have powered India’s growth story. The anniversary of our 30-year presence on NSE is a significant milestone in that legacy. Since 1995, we have powered industries, enabled infrastructure, and advanced the transition to cleaner, more sustainable energy. This journey is the result of the trust of our shareholders, the dedication of our employees, and the enduring partnerships we have built with our customers, suppliers and communities. As India moves forward, we remain committed to advancing the national vision of Viksit Bharat with innovation, dependability, and inclusive impact for generations to come.”

Ashishkumar Chauhan, MD and CEO, NSE, said, “Cummins India’s 30-year journey on NSE is a remarkable milestone that reflects both resilience and purpose. Over the years, the company has grown in step with India’s progress, delivering value to shareholders, advancing innovation, and contributing to a more sustainable and inclusive future. At NSE, we take pride in being part of this journey and congratulate the leadership and employees of Cummins India on this achievement and look forward to their continued success.”

CIL has evolved into a diversified power solutions leader, now serving 10 industry segments, including rail, marine, defence, oil & gas, and data centres. The company also exports products to markets across Southeast Asia, the Middle East, Latin America, Europe and Africa.

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French tier 1 supplier Valeo will unveil its new electric compressor – the EDC-120, at Busworld Europe scheduled from 4th October to 9^th October 2025.

The component, featuring an integrated inverter, is designed for the electric bus segment. The company shared that this launch signals its move to extend its electrification expertise from passenger and light commercial vehicles into the heavy-duty and bus markets.

Claudine Rochette, Strategy & Communication VP, Valeo Power Division, said, “At Valeo, we are leading the electrification of the automotive market. With the launch of the EDC-120 electric compressor, Valeo drives into the electric bus market. This segment is expected to continue growing worldwide and Valeo’s ambitions do not stop at the electric compressor: we already have a wide portfolio of products for electric cars and light commercial vehicles that will be adapted for use in buses.”

The EDC-120 electric compressor has been engineered to meet the demands of electric buses in terms of performance, energy efficiency and reliability. This development uses Valeo’s existing portfolio of electrification solutions, including motors, inverters, DC/DC converters, heat pumps and other key components for electrified vehicles. Valeo plans to adapt these components further to meet the specific requirements for electric buses.

Valeo will also use its industrial scale and technological expertise to capture a share of the electric bus market. Production of the EDC-120 compressor is planned for 2026 in China, where the adoption of electric buses is most advanced. The company aims to establish a global presence, leveraging its international capabilities and local industrial footprint.

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Aurangabad-based auto component maker Dhoot Transmission Group has appointed Naveen Kumar as its new Group Chief Executive Officer, a key move aimed at accelerating its global growth and strengthening its leadership.

In his new role, Kumar will report directly to Founder and Managing Director Rahul Dhoot.

A Mechanical Engineering graduate from Manipal Academy of Higher Education and an alumnus of the senior management program at the Indian Institute of Management Calcutta, Kumar comes with over three decades of experience across the automotive, manufacturing and technology sectors, with a strong focus on strategic expansion, operational restructuring and forging international partnerships.

Prior to joining Dhoot Transmission, Kumar was the Group CEO of Napino Auto & Electronics. During his tenure there, he successfully scaled the company's revenues, dramatically improved operational performance, established a dedicated R&D centre and secured significant global joint ventures with major firms like Continental and ZF TRW.

Rahul Dhoot, said, "His extensive leadership experience, vision for innovation, and proven ability to deliver sustainable growth make him the ideal choice to lead Dhoot Transmission into its next chapter.”

The appointment aligns with the company's strategic focus on boosting innovation, enhancing competitiveness, and driving significant global expansion. Since its founding in 1999, Dhoot Transmission Group has grown to become a leading supplier of wiring harnesses for a wide range of vehicles – from two-wheelers and three-wheelers to commercial vehicles, off-road, farm and electric vehicles. Over the last 25 years, the Group has also diversified its offerings to include automotive switches, connection systems, advanced electronic components and comprehensive electric mobility solutions, such as charging equipment and battery assemblies.

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Nupur Recyclers, one of the leading players in the recycling and waste management sector, has announced a significant step in its forward integration strategy with the all-cash acquisition of Tycod Autotech for an enterprise value of INR 240 million.

The deal is set to pivot Nupur Recyclers from primarily a scrap processor to a manufacturer of high-value aluminium alloys and precision-engineered automotive components.

The acquisition is central to Nupur Recyclers’ ambition to move up the value chain, capturing greater profit margins beyond its core scrap processing and recycling operations. By acquiring Tycod, it instantly gains capabilities in value-added manufacturing for the automotive sector.

Following the deal, Nupur Recyclers has committed an additional INR 100 million to modernise Tycod’s production infrastructure. This investment includes the installation of High Pressure Die Casting (HPDC), VMC and CNC machinery, upgrades designed to increase manufacturing capacity and help attract new Original Equipment Manufacturer (OEM) partnerships in the coming quarters.

Rajesh Gupta, Managing Director, Nupur Recycling, said, “This acquisition is a strategic forward integration that allows us to capture greater value from our recycling operations. Tycod gives us the capability to not only expand our aluminium alloy ingot sales but also venture into precision manufacturing for the automotive sector. “We’re already dispatching over 100 tonnes of aluminium alloy ingots monthly to Tycod and are ensuring consistent quality and on-time delivery for our key OEM clients. Looking ahead, we’re targeting 300 tonnes per month to support in-house manufacturing of auto components by the year of FY2026-27.”

Tycod Autotech is a profitable entity operating out of a large facility within the 200-acre Tata Vendor Park in Rudrapur, Pantnagar. The company currently manufactures engine components for Tata commercial vehicles and supplies to key OEM partners, including Tata Motors, Sundaram Fasteners and Interpump Group.

The acquired facility features a 90,000 sqft industrial shed and robust infrastructure, making it a ready-to-scale manufacturing base.

Since the takeover, Nupur Recyclers has scaled Tycod’s operations, which currently employ about 175 people. The synergy between the two companies is already evident in the supply chain. NRL is currently dispatching over 100 tonnes of aluminium alloy ingots monthly to the Tycod facility.

The company is setting aggressive expansion targets, aiming for 300 tonnes per month of alloy supply to support in-house manufacturing of auto components by the fiscal year 2026-27.

Daksh Maheshwari from Tycod Autotech, said, “Joining hands with Nupur Recyclers has accelerated our growth trajectory. With a reliable raw material supply and new investments in advanced machinery, we are now poised to become a leading Tier-1 supplier to OEMs.”

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