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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Indian-origin lubricant manufacturer NDTH Energy has significantly advanced its global standing with the Volvo VDS-3 approval for its EnerG G Force XL engine oil. This prestigious certification confirms the lubricant's compliance with some of the most stringent international performance standards for heavy-duty engines, specifically in areas like extended oil drain intervals, superior engine wear protection and enhanced fuel efficiency for commercial vehicles.

This achievement is a major endorsement, positioning NDTH among a select group of global lubricant companies and greatly strengthening the product's acceptance worldwide. It follows another notable milestone for the company, which was the first from the country to secure the demanding Mercedes-Benz MB 229.51 and MB 229.52 certifications for its fully synthetic engine oil. These accomplishments collectively underscore the company's consistent ability to develop products that meet exacting original equipment manufacturer specifications.

Complementing its innovation in lubricants, NDTH Energy has also formed a strategic partnership with German additive specialist GAT GmbH. This collaboration has introduced the GAT X EnerG line of automotive care products, including fuel system cleaners and engine flushes, to the Indian market. This initiative supports the national Atmanirbhar Bharat mission by elevating domestic capabilities in the automobile sector.

Navkaran Singh Sethi, Founder, NDTH Energy, said, “This achievement is a proud moment for NDTH Energy as an Indian-origin brand making its mark on the global stage. The Volvo VDS-3 approval underscores our commitment to engineering excellence, quality and sustainability while showcasing the capability of Indian manufacturers to meet the most rigorous international standards.”

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Aligarh-headquartered automotive component maker Pavna Industries is forming a a 80:20 joint venture with Taiwan-based SmartChip Microelectronic Corporation (SMC).

As per the understanding, Pavna will undertake and carry on the business of inter-alia making electronic components for the automobile industry (ICE & EV) and other industries, including hardware for residential/commercial industries, aero and medical, among others in India.

The JV will leverage Pavna’s operational, manufacturing and procurement expertise, as well as its deep understanding of the Indian automotive market, to oversee and manage the operations in India.

On the other hand, SMC will contribute its present and future technical skills, innovations and R&D capabilities in automotive e-lock systems, EV components like motor controller, throttle body, dashboard for two-wheeler & three-wheeler, EV charging piles and e-locking solutions for residential and commercial applications. SMC’s engineering and product development expertise will ensure the JV remains technologically advanced and globally competitive.

Swapnil Jain, Managing Director, Pavna Industries, sai,d "This strategic partnership is an important milestone on our path to emerging as a mobility solutions leader in advanced technologies. By merging Pavna's manufacturing and market capabilities with SMC's state-of-the-art electronics knowledge, we expect to speed up the penetration of EV technologies in India as well as grow into new high-growth markets. With this partnership, we will also further enhance our capacity to serve domestic and global markets with innovative, dependable, and sustainable solutions."

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Gulf Oil Lubricants India Limited, a Hinduja Group company, has announced its unaudited financial results for the quarter ended 30 June 2025, reporting its highest-ever quarterly volume, revenue, and EBITDA. The company achieved double-digit volume growth, which was more than three times the industry growth rate. Consolidated quarterly revenue exceeded INR 10 billion for the first time.

On a standalone basis, the company's revenue from operations was INR 9.96 billion, a 12.57 percent increase YoY, with a Profit After Tax of INR 9.6 billion, up 9.81 percent YoY. Consolidated revenue reached INR 1.01 billion, an increase of 13.69 percent YoY and PAT grew by 12.90 percent to INR 951.7 billion, . The company's EV charger subsidiary, Tirex, also saw significant growth, with its revenue for the quarter increasing by over 163 percent.

Strategic Developments and Outlook

The Board of Directors has approved an INR 550 million capital expenditure (Capex) plan to increase manufacturing capacity by 70 percent, from 140 million litres to 240 million litres. This expansion will be spread over two years and is a key strategic initiative to support the company’s growth ambitions. The Silvassa plant's capacity will increase by 55 percent to 140 million litres, while the Chennai plant's capacity will double to 100 million litres.

Ravi Chawla, Managing Director and CEO, Gulf Oil, said, “The year began on a strong note, delivering yet another market leading performance achieving double-digit volume growth of 11% during the quarter, clearly over 3x the industry growth rate. This underscores the strength of our brand and continued trust of our consumers. Our EV charger subsidiary, Tirex, continued to perform well and closed the quarter with over 163 percent growth in topline catering to broader customer base."

Manish Gangwal, CFO, Gulf Oil, added, "We are quite excited to see our consolidated revenue crossing INR 10 billion as we concluded the quarter with highest-ever volume, revenue and EBITDA, driven by strong strategic execution resulting in profitable, volume-led growth.” He also noted that the company's operating profit for the quarter was Rs. 126.58 crores, a growth of 8.9% over the same period last year.

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Minda Corporation, the flagship company of tier 1 supplier Spark Minda, has announced its financial results for Q1 FY2026 with revenue of INR 13.86 billion, up 16.2 percent YoY, EBITDA of INR 1.56 billion, EBITDA margin of 11.3 percent and a net profit growth of 4.7 percent at INR 650 million.

The tier 1 supplier attributes the growth to its strong product portfolio, expanding customer base and a focus on product premiumisation.

During the period, Minda Corporation also entered into an agreement with Toyodenso to establish a 60:40 joint venture in India for manufacturing and selling of advanced automotive switches.

It aims to provide end-to end solutions for automotive switches across two-wheelers, passenger cars and other automotive segments in India. The new JV has already received orders from customers in India with a greenfield plant to be set up in Noida. The operations are expected to commence in H2 of FY2027.

Furthermore, Minda Corporation also inked a collaboration with Qualcomm to co-develop Smart Cockpit Solutions.

Ashok Minda, Chairman and Group CEO, Minda Corporation, said, “The first quarter of FY26 witnessed a strong performance, supported by resilient demand across key vehicle segments. Leveraging our focus on operational excellence, technology integration, and customer-centric initiatives, we continued to strengthen our market position. As we progress through the year, we remain focused on expanding our market reach, enhancing exports, and delivering sustainable value to our stakeholders through consistent execution and strategic initiatives.”

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