KKR, Allfleet India and PMI Electro Mobility Solutions have announced definitive agreements for a strategic partnership. KKR-managed funds will commit up to USD 310 million to scale Allfleet’s electric bus platform and enhance PMI Electro’s manufacturing capabilities.

As part of the transaction, KKR will acquire a majority stake in Allfleet and a minority stake in PMI Electro. This represents the eighth investment globally under KKR’s Global Climate Transition strategy and its first in India.

Established in 2022, Allfleet serves as the e-bus platform for PMI Electro, focusing on the ownership and operation of public transport fleets. The company is currently deploying over 5,000 electric buses under long-term service agreements with various state transport authorities across India.

The partnership will see an integrated model covering manufacturing led by PMI Electro, ownership and operations by managed by Allfleet and lifecycle support by technical maintenance and infrastructure management.

KKR’s investment is drawn from its Global Climate Transition strategy, which has committed over USD 44 billion to sustainability initiatives since 2010. The firm’s global portfolio in this sector includes transport electrification specialist Zenobe in the UK and solar developer Avantus in the US.

The capital will be used to expand Allfleet’s presence in Indian cities and support the national transition toward decarbonised urban mobility.

Neil Arora, Partner and Head, of KKR’s Climate Transition strategy for Asia-Pacific, said, “Transport electrification is a critical pillar of the energy transition, and India – with its scale, urbanisation trends and decarbonisation ambitions – represents one of the most significant opportunities for the sector globally. The differentiated combination of Allfleet’s proven, scalable platform and PMI’s manufacturing and service expertise stands out as a full-service solution in this market. We look forward to supporting Allfleet’s next phase of growth by working together with PMI and leveraging KKR’s global operational expertise and experience investing across climate transition.”

Aanchal Jain, CEO, PMI Electro and Director, Allfleet, said, “This investment by KKR marks a defining milestone in our journey and is a powerful endorsement of the integrated electric mobility platform we have built at Allfleet. PMI Electro’s vision is to create a scalable, reliable, and future-ready ecosystem that can transform public transport in India. As our cities grow and mobility needs evolve, clean, efficient, and accessible public transport will play a central role in shaping a more sustainable future.”

Comments (0)

ADD COMMENT

Link Copied!

German automotive major Daimler Truck Holding has further strengthened its Leadership and Supervisory Board with new appointments.

The company announced that John O’Leary (North America), Achim Puchert (Mercedes-Benz Trucks and BharatBenz) and Eva Scherer (CFO) have been reappointed till 2028, 2031 and 2032, respectively.

Furthermore, following the departure of four shareholder representatives, the board has added Wayne Eyre, Claudia Nemat, Britta Seeger and Vipin Sondhi to bolster expertise in digital transformation and global growth markets.

Interestingly, Sondhi joins the German truck major and is expected to further strengthen and counsel the company on its global boards. Formerly, Sondhi was the top boss at Ashok Leyland and JCB India. He currently serves as the Chairperson of National Board for Quality Promotion (NBQP) and is advisor to several companies.

Additionally, Kurt Sievers was appointed to the newly established role of Lead Independent Director to reinforce oversight and investor relations.

Daimler Truck shareholders also backed the ‘Remuneration System 2027+’, which aligns executive pay with the company’s ‘Stronger 2030’ strategy. The new framework, effective from FY2027, emphasises share-based long-term compensation and ESG-related targets.

A mandatory auditor rotation was also approved. KPMG will remain the auditor for the 2026 fiscal year, with PricewaterhouseCoopers (PwC) set to take over the mandate starting in 2027.

“The reappointments of John, Achim and Eva provide the leadership team with the necessary time horizon to drive the company’s rewarding transformation with foresight and continuity,” said Joe Kaeser, Chairman of the Supervisory Board.

Comments (0)

ADD COMMENT

Link Copied!

German luxury and high-performance vehicle manufacturing company Porsche is reducing its Executive Board divisions from 8 to 7 as part of a strategic realignment. The Car-IT division will be suspended and integrated into the Research and Development division effective 1 July 2026. Dr Michael Steiner, Member of the Executive Board for Research and Development, will lead the expanded department.

Sajjad Khan, who managed the Car-IT division for two and a half years, will step down from the Executive Board on 19 June. He will continue to work with the company through a software partnership model.

During his tenure, Khan led the development of connectivity and infotainment systems, including the introduction of the Porsche Digital Interaction design language in the Cayenne electric. These technologies are being rolled out to other models, with specific versions for the Chinese market being developed in Shanghai.

The restructuring is intended to adapt the company to current market conditions and increase the speed of software development.

Dr. Wolfgang Porsche, Chairman of the Supervisory Board of Porsche AG, said, “Porsche is in a challenging phase of transformation. We need to realign the company and are consistently adapting our structures under the leadership of Dr. Michael Leiters to the changed circumstances — including at Executive Board level. I would like to thank Sajjad Khan for taking on responsibility for the company. We will continue to benefit from his professional expertise and in-depth knowledge of our structures in the future.”

Sajjad Khan, stated, “I am proud of what we have achieved as a team over the past two and a half years. In a constantly evolving market environment, however, it is essential to continuously review and adapt structures and processes. Porsche’s outstanding engineering expertise, combined with agile, results-driven software development, provides an excellent foundation for the future development of software components.”

Comments (0)

ADD COMMENT

Link Copied!

The 47th International Vienna Motor Symposium concluded at the Hofburg Palace, gathering 1,000 industry professionals and 50 exhibitors to discuss the future of propulsion. The event featured 100 presentations focused on achieving carbon neutrality through a range of technologies rather than a single solution.

A highlight of the symposium was the European premiere of China SAE’s Roadmap 3.0, a strategy charting China's automotive direction through to 2040. Professor Xiangyang Xu of Beihang University detailed the plan, which anticipates that 1/3rd of new vehicle registrations in 2040 will still feature electrified combustion engines.

Madame Ruiping Wang of Geely Auto supported this view, stating that every technological solution is required to reach neutrality goals.

In the electric vehicle segment, Mercedes-Benz demonstrated the range of the new EQS, completing a 620-kilometre journey from Stuttgart to Vienna with 21 percent battery charge remaining.

PowerCo SE, the battery subsidiary of Volkswagen, reported that serial production of its ‘standard cell’ began in Salzgitter in December 2025.

Stefan Pischinger of RWTH Aachen University projected that battery electric vehicles (BEVs) could reach a 45 percent global market share by 2035 under favourable conditions.

The symposium also highlighted advances in internal combustion engine efficiency and alternative fuels:

AVL List presented an engine achieving 48 percent thermal efficiency.

Porsche detailed a direct oil-cooling system for high-output electric motors in the Cayenne Electric Turbo.

Horse Powertrain introduced a petrol engine platform designed specifically for range-extended electric vehicles (REEVs), a segment that saw 1.2 million sales in China last year.

Alpine CEO Philippe Krief discussed the potential revival of in-wheel motors.

Hydrogen remains a focus for both direct combustion and fuel cell applications. Professor Helmut Eichlseder of Graz University of Technology emphasised the importance of hydrogen research for industrial resilience.

Industry leaders expressed concerns regarding European competitiveness. Niklas Klingenberg of TRATON noted the need for harder work to remain competitive in Europe, while Matthias Zink of Schaeffler and CLEPA spoke on the challenges of navigating EU legislative environments. The 48th International Vienna Motor Symposium is scheduled for 21–23 April 2027.

Professor Bernhard Geringer, President of the organising Austrian Society of Automotive Engineers (OVK), and host for the annual symposium, said, “The big picture – from cradle to grave in terms of energy and propulsion – is what matters most.”

Comments (0)

ADD COMMENT

Link Copied!

Ferrari has secured the highest distinction from Germany’s Red Dot Award organisation, as the Ferrari SC40 earned the Red Dot: Best of the Best honour within the Product Design category. Additional triumphs for the Ferrari Amalfi, 849 Testarossa, 849 Testarossa Spider, 296 Speciale and 296 Speciale A further reinforced the manufacturer’s design prowess.

Now in its 72nd year, the Red Dot Award stands as a premier industrial design competition celebrating breakthrough work. Ferrari’s cumulative tally over the past 12 years has reached 35 Red Dot wins, a feat no other automaker has matched since the prize was established in 1955. Since 2015, the jury has presented Ferrari with 13 Best of the Best awards, including for the FXX-K, 488 GTB, Ferrari J50, Portofino, Monza SP1, SF90 Stradale, Daytona SP3, Purosangue, Vision GT, Roma Spider, 12Cilindri and 12Cilindri Spider, F80 and the SC40.

This year’s Best of the Best accolade also draws attention to the exclusivity and remarkable value of the Special Projects programme, where a limited number of clients work directly with Maranello’s designers and aerodynamicists to create a personalised One-Off Ferrari.

Visitors to the Museo Ferrari in Maranello can currently view the car’s full-scale styling buck, a key artifact from the design process. The display reveals how the model’s proportions and surfaces took shape before production, emphasizing the defining volumes and graphic details that give the vehicle its identity. The buck serves as a tangible bridge between the initial design phase and the final One-Off creation.

Comments (0)

ADD COMMENT

Link Copied!