India’s passenger-vehicle market has witnessed astonishing growth in the past decade. Barring the current hiccups, on account of ongoing urbanisation, increasing expenditure from the middle-class and young generation, and the country’s economic growth and supportive regulations and policies, India is expected to emerge as the world’s third-largest passenger vehicle market in future. However, the growth story will bring severe challenges for the parking space segment, especially in metro cities for which parking space has been a perennial issue.

As per a survey, a person spends an average of 17 hours a year for searching parking slots in New York, and the situation is grimmer in India where on average a person spends around 80 hours per year on finding parking. However, the situation varies in different cities.

Amit Lakhotia, Founder and CEO, Parviom Technologies, which owns Park+, faced car parking-related issues like any other Indians residing in metro cities. “Every day, we face challenges in finding an available parking slot, be it in office parking, malls, hotels or any other busy places. This leads to frustration and loss of time and fuel as well,” says Lakhotia. Due to difficulty in finding spaces for parking, people park their vehicles in the non-parking area or on the roads that occupies half of the road and which again causes traffic congestion, accidents, environmental hazards and even criminal activities.

“Parking related day-to-day issues were on my mind for some time while I was working with Paytm,” recalls Lakhotia. Having faced such parking-related issues, Amit Lakhotia found a business opportunity and launched the App, Park+, in 2019, which provides a suite of solutions around parking and more. With the help of Park+ app, users can discover parking, book their slot as well as other services such as car wash and pay digitally. They also provide RFID based security solutions to apartments and corporate setups.

Early this year, Park+ has raised $11 million in a financing round co-led by venture capital funds Sequoia India and Matrix Partners India. Prominent angel investors, including Deep Kalra, Rajesh Magow, Ashish Hemrajani, Kunal Shah, Kunal Bahl and Rohit Bansal also participated in the round. Park+ is also the first company to collaborate with Aarogya Setu app for crowd management in malls.

The Park+ business model starts with identifying hot spots and taking suppliers- parking operators -onboard in these areas. For a selected site, the company takes the responsibility to build and maintain the infrastructure needed for the business. Infrastructure includes different servers and hardware. Light hardware is used to monitor entry and exit, while complicated hardware is used for barriers, parking sensors and RFID based security solutions. “Deployment of infrastructure is based on the needs, but charges vary accordingly,” adds Lakhotia.

Park+ earns a commission from the parking operators of the parking space and a service charge from that availing of the service.

Lakhotia is confident that his app-based business will boom on the surging numbers of smartphone users and operators. Explaining further, he says, “Till 2015-16, the internet had not reached to the last mile space in any sector. Online search, ordering, payments, tracking and delivery were not as smooth as of today. However, Ola, Uber, Swiggy and other e-commerce portals brought a revolution in the online payment system and have made it very convenient for users and last-mile operators. Online businesses are also taking good efforts on their last mile employees for reading maps and handling deliveries. Till last a few years, parking operators did not have smartphones with internet connectivity, but now they have. Users and operators were ready, so we felt this is the right time to launch the business.”

India had the world’s second-largest internet population of around 483 million users in 2018, and, of these, 390 million users accessed the internet via their mobile phones. As per a report, India will have over 760 million smartphone users in 2021.

Mobile-phone based parking apps have already been running in the developed markets such as the USA and Europe, but challenges for Park+ will be unique and tough considering the rapidly concentrating population, unplanned structures, and scarcity and skyrocketing prices of lands in cities. Expansion of cities in the western world have been well planned, and vehicle parking has been an integral part of the design of the new cities and the development of old cities. With the growing urbanisation, India is likely to have over 500 million people living in cities by 2030.

Considering the challenges for finding and booking parking space in India, the sweet spot for the Park+ is to help users to find and book parking spaces more conveniently and parking operators to utilise parking spaces more optimally.

“Since there is a minimal scope to build new infrastructure to make parking sites, we focus on to make these parking spaces available more efficiently. For instance, on weekdays, parking space is fully occupied in corporate parks, but malls, hotels and shopping complexes are less crowded, so are their parking sites. This scenario is vice versa on weekends. If a corporate park is near to a mall, the former can use the parking site of the latter on weekdays; the same can be done vice versa on weekends. That is how parking space can be used effectively, and operators’ revenue can go up,” explains Lakhotia.

Though as now of Park+ is offering its services in major cities, it sees opportunities in Tier -2 as well. Residents in metro cities are still reluctant to buy a car owing parking and traffic issues and opt for the shared mobility but growing middle-class incomes pushing car sales in Tier-2 cities. “What parking-related issues we are facing in the Tier-1 cities, eventually we will face the same in Tier-2 in future. So, we also see big business opportunities in Tier-2 cities in the country,” predicts Lakhotia.

Park+ will also explore possibilities to tie up with city corporations which operate parking sites in the cities. “We are looking for such tie-ups. It is just a matter of time when we can have to tie up with municipal corporations.”

Apart from the core service, Park+ is also offering services for insurance, pollution control certificate, RTO service, and information on traffic rules and fuel prices. The company now plans to widen its service offering with vehicle services, maintenance, washing and others. “Some of these services will be provided by third parties, while some services we will provide to the customer directly,” adds Lakhotia.

The company will also explore the option to have tie-ups with OEs to provide the Park+ inbuilt services in their vehicles. “We will try to make available our services to OEs as the business scales up.”

Lakhotia has spent more than ten years building significant size internet businesses. He is ex-Paytm, Tokopedia and Makemytrip and played a critical role in scaling them to multi-billion dollar companies. His experience with the internet business is helping him to build his own business. “Paytm is a digital platform which is being used by masses in India. It is being used by auto drivers, tea sellers, literally by everyone. The distribution of Paytm is available everywhere for both users and merchants in both urban and rural areas. When we started the business, we never thought we would go that big. It does not matter how great your product is; it should work on all devices and networks. The product should win the trust of users since you are handling their money. Transparency is must in internet businesses,” says Lakhotia.

Today, the company has around two lakh subscribers, and Lakhotia expects the subscriber number will reach two million by 2021. The company adds 40,000 cars to the network every month, and 300,000 cars have their RFID tags. So far, the company has set up 800 sites in India. “Currently, we have around 18,000 real-time slots available, and overall, we have 60,000 slots.”

Talking on challenges, Lakhotia says Park+ is a pioneer in the business, and the challenges are new and unpredictable. “Since it is a real-time business, the challenge is how to deliver the services in the expected time. Also, this is a low-ticket business; we will have to make sure it will work smoothly.” (MT)

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Kia India, one of the leading passenger vehicle manufacturers, has announced a landmark three-year partnership with the Tennis Premier League (TPL), coming on board as the league's Exclusive Sponsor.

The multi-year agreement integrates the automaker across the entire TPL ecosystem, including its digital application and all eight franchise teams as the front-of-jersey sponsor.

The partnership marks a significant milestone for the homegrown league, which broadcasts live on Jio Hotstar and has completed 7 seasons under the auspices of the All India Tennis Association (AITA).

The event is backed by Indian tennis legends Leander Paes and Sania Mirza, alongside celebrity franchise co-owners Sonali Bendre Behl (Lucknow Blazers) and Rakul Preet Singh (Hyderabad Strikers). The league has established itself as an impactful non-cricket sporting property in India.

A core focus of the multi-year deal is the expansion of TPL’s grassroots and talent-identification infrastructure. Over the past two years, the league’s flagship ‘Race to Gold Scholarship’ initiative has provided developmental support to more than 80 young tennis players across the country.

With Kia India’s financial backing and resources, the program plans to empower an additional 120-plus young athletes in the coming years. The long-term objective of this sustained investment is to nurture Olympic-level talent capable of competing at the 2036 Olympic Games.

Atul Sood, Senior Vice President - Sales and Marketing, Kia India, said, “At Kia India, we believe sports have the power to inspire aspirations and create meaningful cultural connections. Tennis, with its youthful energy, global appeal, and premium character, strongly resonates with our brand philosophy. Our partnership with Tennis Premier League reflects a shared vision to make tennis more engaging and relevant for a new generation of audiences in India. Through TPL’s growing ecosystem and grassroots focus, we look forward to supporting greater participation, engagement, and talent development around the sport.”

Kunal Thakkur, Co-Founder, Tennis Premier League, added, "This partnership with Kia India is a great moment for us. Over the last few years, we have focused deeply on building a strong grassroots ecosystem through our app and initiatives like Race to Gold along with our League. Having a global brand like Kia India recognize and back this vision gives us the confidence to scale our efforts and truly impact the future of Indian tennis."

Mrunal Jain, Co-Founder, Tennis Premier League, stated, "TPL has always believed in creating a complete tennis ecosystem—from identifying young talent to giving them a platform at the highest level. With Kia India coming on board, we are not just adding a sponsor; we are gaining a long-term partner who shares our vision of building champions for India."

Leander Paes, 18-time Grand Slam Champion, remarked, “Over the years, Tennis Premier League has created a strong platform that is helping tennis grow at every level – from grassroots development to professional competition. Partnerships like this with Kia India is extremely important for the future of Indian tennis, as they bring long-term vision, credibility, and meaningful support to the ecosystem.”

The alliance links Kia's global sports portfolio, which includes a 25-year legacy as the major partner of the Australian Open, with India's emerging contemporary sports culture.

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Caterham has unveiled a new limited-edition model, the Seven Nürburgring Edition, marking a century of the famous German circuit widely regarded as the world’s most demanding race track. Production will be strictly limited to just 100 units globally, with customers able to choose between the Seven 420R or Seven 340R platforms depending on their market. Pricing in the United Kingdom starts at GBP 48,995 (approximately USD 65,690) including VAT.

Engineered specifically for the challenges of the Nürburgring, the car features a bespoke race suspension developed exclusively by Bilstein using its advanced vertical dynamics test rig. The setup was refined to deliver exceptional capability on both road and track, resulting in a tailored package unique to this edition. Power comes from a naturally aspirated 2.0 litre Ford Duratec engine producing 210 brake horsepower at 7,600 rpm, giving a power-to-weight ratio of 375 bhp per tonne. Paired with a five-speed gearbox, the Seven Nürburgring Edition sprints from zero to 60 miles (approximately 96 km) per hour in 3.8 seconds and reaches a top speed of 136 miles (approximately 219 km) per hour.

As a fully licensed Nürburgring product, the car incorporates distinctive circuit branding and logos, along with three available paint finishes named Traffic Red, Agate Grey and Basalt Grey, though custom colours are also offered. Exterior upgrades include a red track day roll bar, a mesh grille with a dual-colour Seven logo, a 620-style nosecone with carbon aero whiskers, a Gunmetal Grey chassis, carbon front wings and a Black Pack comprising a black windscreen, headlamp bowls and exhaust heat shield. Inside, leather seats feature Nürburgring embroidery and red stitching, echoed on the transmission tunnel, while carbon interior panels, four-point road harnesses, sequential shift lights and an individually numbered plaque for each of the 100 cars complete the package.

For a century, the 12.9-mile circuit in Germany’s Eifel Mountains, nicknamed the Green Hell, has served as the ultimate proving ground for cars and drivers with its changing elevation and 73 corners. Caterham has flourished there for decades, most notably achieving an 11th place finish at the Nürburgring 24 Hours in 2002 driven by Chris Cooper, Chris Harris, Clive Richards and Peter Haynes.

Trevor Steel, Senior Vice President – Operations, Caterham Cars, said, “For a century, this track has championed values that are at the heart of what the Seven is all about – balance, precision and an unmatched driving experience. We set out to capture the spirit of the ‘Ring, with every element of the car being honed to reflect the track’s unique demands and character. Designed both for use on the track and the road, the Seven Nürburgring Edition is a unique vehicle that perfectly pays tribute to this famous, globally renowned circuit.”

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South Korean auto major Hyundai Motor Group has entered into a multilateral agreement with 9 corporate partners from South Korea, Mainland China, Hong Kong, and France to develop an integrated hydrogen ecosystem in Hong Kong.

The announcement was made during the International Hydrogen Development Symposium 2026, coinciding with a separate intergovernmental Memorandum of Understanding (MoU) signed between the governments of South Korea and Hong Kong to align clean energy policies.

The corporate alliance is structured to establish a regional hydrogen market while positioning Hong Kong as an operations base for the Group’s expansion across the Asia-Pacific territory. The project is aligned with the Hong Kong Government’s Climate Action Plan 2050 and the city's 2024 Hydrogen Roadmap, which provides financial subsidies via the New Energy Transport Fund for zero-emission infrastructure.

The execution plan focuses on localised energy production and transit infrastructure to operate by the end of 2030. Key initiatives include:

• Waste-to-Hydrogen (W2H) Production: Utilising local landfill gas (LFG) resources to generate low-carbon fuel.
• Fleet Deployment: Introducing fuel cell commercial vehicles, focusing on tour buses and airport shuttles to service the transit sector.
• Refuelling Network: Constructing hydrogen refuelling stations (HRS) in high-traffic freight corridors.

Seung Kyu Shin, Executive Vice-President and Head of Energy & Hydrogen Policy Sub-Division, Hyundai Motor Group, said, “This MoU was signed as Hyundai Motor Group’s commitment to advancing Hong Kong’s proactive hydrogen policies and driving the acceleration of its hydrogen ecosystem utilising the Group's hydrogen business capability and experience. Starting with Hong Kong, we look forward to expanding our collaboration and business opportunities across the broader Asia-Pacific hydrogen market.”

Alpha Lau, Director-General of Investment Promotion of Invest Hong Kong, stated, “Today multi-party signing is both a landmark moment for Hong Kong’s green economy and a clear signal that the city’s hydrogen ecosystem is gaining real traction. Over the past three years, InvestHK has helped leading hydrogen enterprises establish themselves in Hong Kong, several of which have since listed on the Hong Kong Stock Exchange, raising over HK$2.5 billion in total. For businesses with global green ambitions, Hong Kong is where business growth takes shape.”

The Group's HTWO Guangzhou facility, its first overseas fuel cell production site, will manufacture and supply the vehicle systems required for the regional deployment. Under the timeline established by the consortium, project site selection will be finalised by 2027, followed immediately by the engineering design phase for the production plants.

The division of responsibilities among the ten signatory companies is structured as follows:

This project expands the Group’s global W2H portfolio, which includes the HTWO Energy Cheongju facility in South Korea utilising sewage sludge and an active landfill-to-hydrogen joint venture in Indonesia with Pertamina.

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Hyderabad-based electric vehicle company Keto Motors has marked its debut on the Bombay Stock Exchange following the completion of its reverse merger with Taaza International.

The transaction, which received approval from the National Company Law Tribunal (NCLT), Hyderabad Bench, alters the corporate identity and core business operations of the listed entity to focus on the commercial electric vehicle (EV) market.

The listing coincides with the development of the company's INR 3 billion electric bus manufacturing project in Telangana. The facility, situated in Jadcherla, is being established to support the assembly and production of commercial EV platforms, including the upcoming rollout of the Urbanova KE9, a 9-metre electric bus platform that has secured Central Motor Vehicles Rules (CMVR) Type Approval certification.

To support its engineering requirements, Keto Motors has formed a technical association with Taiwan-based TRON Energy Technology. The collaboration provides the manufacturer with access to powertrain solutions, battery systems and chassis engineering technologies for its vehicle line-up. The company is targeting demand from State Transport Undertakings (STUs), institutional fleet operators, and urban transit networks.

Venkatesh Challa, Director, Keto Motors, said, “Our BSE debut marks an important milestone in Keto Motors’ journey as we continue building a scalable electric commercial mobility business in India. This development strengthens our ability to expand manufacturing capabilities, accelerate product innovation, and support the growing adoption of sustainable transportation solutions across the country. We believe India’s commercial EV sector is entering a transformative phase, and Keto Motors is well-positioned to contribute meaningfully to this transition.”

“To all our shareholders, I would like to convey that this journey is not only about business growth, but also about contributing to India’s progress. We remain committed to building cutting-edge technology, world-class manufacturing capabilities, generating employment, and advancing sustainable mobility solutions that can play a meaningful role in the country’s growth story,” added Challa.

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