Q: How will synchronisation take place?

Raghavan: There are three significant areas where synchronisation will happen. One is on the supply chain, second on digital solution portfolios, and the third is the common process and policies of franchisees management and marketing. At least, in the short term, both companies will keep their own brand identities.

Q: Multi-brand car service is yet to become a profitable business in India. What does make you so bullish on the industry?

Raghavan: Profitability must be looked in a time perspective. It (multi-brand car service) is a very nascent business in India. It captures three things. One you have to change the cultural behaviour of the garages so all entrepreneurial will work. Second, you need to improve the productivity through adoption of technologies which the industry has not been using, and the third is you should able to have your supply chain right so that you can deliver spare parts on-demand at the reasonable costs. These all three elements, TVS has done in its ASPL businesses. Having the background of spare parts business, TVS ASPL has established a parts supply-chain to take a leadership position in however the small market it is as of now.

We strongly believe the three competencies - digital technology, parts and digital marketing, drive businesses and bring profitability in the garages. TVS ASPL has achieved profitability in that part of the business.

Q: Procurement of spare parts is the biggest challenge in the business? How do you deal with this challenge?

Raghavan: The focus is to access to spare parts. Your knowledge of parts says what are the choices of parts available. TVS has been historically in spare parts business so we have digitised and developed one of its kinds of catalogue which automatically cross-checks the differences to make the model engine and then which are the alternative parts you can use. The knowledge is very critical if you want to supply parts within committed time.

Q: What about investment in digital marketing and digitisation in the business?

Raghavan: It is city-wise; you need to determine where do you want to invest based upon your requirements. With this acquisition, once you got pan India coverage, your marketing costs and transactions get reduced drastically because the cost gets covered in wider geographic coverage and larger interest.

Q: Did you see an increase in the business post lockdown?

Raghavan: I will put into two different angles. If you ask if the business has come back to the pre-COVID stage, I will say yes. If asked, whether the business has been affected by COVID, I would say yes, it has been impacted at a large extent.

We strongly believe in developing an ecosystem where you will be able to help when there are growth opportunities. For example, for some of the franchisees, we have worked with NBFCs and banking to offer financial services and solutions. I would say, the business has come back to the pre COVID stage, but there are exceptions. The white-collar workforce, which is mostly not going to the office but working from home, so to that extent, the service and parts business of ours come down. But the two-wheeler business has picked up and is growing much faster than the pre- COVID stage. Making this business organised and lending to the brand name to it gives more confidence to customers to go to these franchisees for incremental services.

Q: How is the partnership with Google shaping up?

Raghavan: Google partnership is live. The ease of digital adaptation has increased, so I do not have to go physically to roll out solutions to garages. They can download from google and implement it. We have moved all our solutions on google cloud, and by January, our marketplace should be up for google. Any retailers or garages can download our digital solution and start implementing it.

Q: What is the role of digitalisation in aftermarket business?

Raghavan: Digitalisation can be looked at from three perspectives. One is as enablement through digital technologies. Garages can have our service management platforms and keep tracking the consumers’ behaviour, such as what repairs he did. The second, we have developed the AI algorithm to find what kind of services the customers need. Instead of recommending service for the core vehicle, can he replace his clutch or overhaul his air-conditioner or he should replace his brake pads. That’s where we can drive more trust of customers that I am monitoring the health of your vehicle. The third one is getting the vehicle diagnosed first time right. (MT)

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VSL PowerHive Pvt Ltd has unveiled the P261, a liquid-cooled battery storage system rated at 125 kW/261 kWh, targeting industrial and commercial customers in India and other global markets. The announcement represents the company's first official product launch under its own branding, distinguishing it from the earlier VION offering. This move positions the Vikram Solar subsidiary for accelerated growth in the competitive energy storage arena.

The newly introduced unit tackles operational requirements including emergency power provisioning, load smoothing during expensive tariff periods and maximised solar generation utilisation. Additional functions include curtailment of diesel generator usage, stabilisation of power quality, accommodation of EV charging points and enabling of microgrid networks. By drawing upon Vikram Solar's production capabilities, the company intends to serve clients navigating different phases of decarbonisation.

Compact cabinet construction combines with active liquid thermal management to preserve electrochemical stability and prolong service life relative to air-cooled designs. A built-in controller provides live system oversight and off-site troubleshooting, complemented by automated extinguishing mechanisms and redundant protection circuits. The modular layout permits future augmentation and merges photovoltaic inputs, mains connectivity, storage hardware and EV supply under one operating platform.

Embedded within the chassis is a 261 kWh lithium iron phosphate core with 832V nominal voltage and 314 Ah cells, facilitating rapid energy exchange in both grid-tied and standalone modes. Functional operation spans from -30°C to 50°C, with an IP52S enclosure safeguarding against particulate and moisture ingress. Practical benefits include diminished demand charges, intelligent solar shifting and resilient backup during grid failures. The system also supports fuel savings, fast-charging rollouts and power conditioning across distributed and bulk applications. Through the P261, VSL PowerHive addresses surging C&I storage demands while signalling future expansion across diverse market tiers.

Arun Mittal, CEO, VSL PowerHive Pvt. Ltd., said, "India's industrial and commercial sectors are ready for storage solutions that actually work for their needs, and the P261 answers that call. Bringing this to market as our first official product under PowerHive is a significant step, and there's much more in the pipeline."

Gyanesh Chaudhary, Chairman and Managing Director, Vikram Solar, said, "India’s energy transition is entering its most decisive phase, and storage will determine how fast and how far we go. With the P261, PowerHive moves from concept to commercial reality, built on the same manufacturing discipline and quality rigour that have defined Vikram Solar’s journey in solar. This is more than a product launch; it is the foundation of a business we intend to scale with real ambition as we work towards building PowerHive into a full-fledged storage solutions provider serving India and global markets in the years ahead."

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European auto major Stellantis has announced leadership changes within its Enlarged Europe organisation, effective 1 September, as part of the execution of its Fastlane 2030 strategic plan. The newly appointed executives report directly to Emanuele Cappellano, Chief Operating Officer (COO) for Enlarged Europe.

The company has announced that Arnaud Belloni will take on the role of Chief Executive Officer of the FIAT, Abarth and Lancia brands, alongside taking on the role of Chief Marketing Officer for Europe. He returns to Stellantis, where he previously spent 16 years managing marketing strategy for its Italian and French brands, after serving as global Chief Marketing Officer and Chief Branding Officer at Renault Group. He succeeds Olivier Francois, who will assist with the leadership transition through mid-October before taking up a role as a company strategic advisor.

Among other executive changes, Xavier Chardon has been appointed CEO of DS Automobiles while retaining his responsibilities for Citroen. Xavier Peugeot has been named Head of the Jeep brand in Europe, a newly created position focused on product, marketing and sales development within the European market. Meanwhile, Roberta Zerbi will focus on customer journey excellence and network development.

Under the reorganised Commercial Operations Enlarged Europe division led by Maurizio Zuares, Gaetano Thorel assumes responsibility for Enlarged Europe Lancia alongside his current duties for FIAT and Abarth, reporting functionally to Belloni. Laurent Diot takes responsibility for Enlarged Europe DS Automobiles alongside Citroen, reporting functionally to Chardon. Fabio Catone remains responsible for Enlarged Europe Jeep, Ram, and Dodge brands, with a functional reporting line to Peugeot.

Emanuele Cappellano, COO, Enlarged Europe, said, “These appointments mark another important step in accelerating the execution of our Fastlane 2030 strategic plan. They establish the foundations for a European marketing vision centered on creativity and innovation, reinforce Jeep’s growth through dedicated leadership, and clarify the positioning of Lancia and DS Automobiles as specialty brands, preserving their distinctive identities while strengthening integration with FIAT and Citroen, respectively. I would like to congratulate Arnaud as he joins Stellantis, together with all the colleagues taking on new and more challenging responsibilities. I am confident that each of them will play a vital role in delivering these strategic priorities. I would also like to thank Olivier for his outstanding contribution to the Company over more than 30 years managing iconic brands and shaping communication as Global Chief Marketing Officer. Olivier has embodied the perfect balance between dedication and empathy, combining a proactive mindset with unconventional spirit that truly sets exceptional creative leaders apart. I am sure we will take advantage from his expertise as a strategic advisor to our Company”.

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ICRA, a leading rating agency, has released a report stating that toll collection growth on national highways across India is projected to increase between 10 percent and 12 percent in 2027-28, up from an estimated 7 percent to 9 percent in 2026-27.

The projected recovery follows an expansion of 10 percent in 2025-26 and is expected to be supported by toll rate revisions alongside stable traffic growth of 4 percent to 5 percent.

The anticipated rise in toll rates in 2027-28 reflects movements in Wholesale Price Index inflation. Toll rate growth is projected at 6.2 percent to 6.4 percent for newer projects linked to December index figures, and 4.5 percent to 5.5 percent for older projects linked to March figures.

Suprio Banerjee, Co-Group Head, Corporate Ratings at ICRA, said: “Traffic growth on national highways largely moves in line with the gross value added (GVA) of construction, mining and manufacturing (CMM). GVA growth of CMM has increased by a notable 8.1% in 2025-26. Consequently, traffic on national highways witnessed a healthy growth of 6%. Coupled with a toll rate hike, toll collections increased by 10% in 2025-26. ICRA estimates the GVA growth of CMM to remain at 7-8%, which is likely to entail traffic increase of 4.5-5.5% in 2026-27, albeit partly impacted by export-related traffic challenges. This, coupled with a relatively lower toll rate revision of 3.4-4.0%, is likely to moderate toll collections growth in 2026-27. Thereafter, supported by a higher toll rate revision in 2027-28, toll collection growth is expected to increase to 10-12%.”

It further finds that road execution by the Ministry of Road Transport and Highways is expected to remain between 9,000 km and 9,500 km in 2026-27, compared to 9,380 km recorded in 2025-26.

Project execution during the first quarter of 2026-27 was affected by increases in bitumen prices and supply disruptions linked to events in West Asia. While, project awarding activity by the Ministry declined to approximately 7,000 km in 2025-26 from 7,538 km in 2024-25, following focus on land acquisition and environmental clearances prior to project allotment.

Budgetary allocations are expected to increase project awarding to between 8,000 km and 8,500 km in 2026-27.

Engineering, procurement and construction contracts accounted for 65 percent to 70 percent of total project awards in recent years, while hybrid annuity mode contracts represented 25 percent to 30 percent.

ICRA projects the share of hybrid annuity contracts to be between 24 percent and 26 percent in 2026-27, as projects exceeding INR 5 billion are directed toward hybrid annuity or toll models. The Ministry has introduced a revised model concession agreement for build-operate-transfer toll projects, featuring revenue support mechanisms during traffic shortfalls and termination provisions.

Bidding discounts for engineering, procurement and construction projects averaged median levels of -30 percent in 2024-25 and -35 percent in 2025-26, while hybrid annuity projects recorded median discounts of -16 percent and -19 percent over the same period. To address bidding margins, performance security norms were updated in June 2026, alongside plans for bundled highway project allocations.

Banerjee added, “The moderation in road execution is primarily attributable to the sustained slowdown in project awarding activity over the past three years. Consequently, road construction activity slowed down in 2024-25 and 2025-26, and ICRA expects road execution to remain in the range of 9,000-9,500 km in 2026-27. The Ministry’s move to revive the BOT (Toll) road projects through the revised model concession agreement is a welcome step and is expected to support increased private sector participation in the roads sector. However, the extent to which it translates into a meaningful revival in construction activity remains to be seen. Despite stricter bidding norms and the expected bundling of project awards, competition in the sector is unlikely to come down unless project awarding activity picks up materially.”

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JSW MG Motor India, one of the leading passenger vehicle manufacturers, has announced the appointment of Parth Jindal as its new Chairman, effective immediately.

Jindal has been instrumental in the company’s strategy since the formation of the joint venture between JSW Group and MG Motor India. He has been closely involved in the product strategy, localisation and manufacturing expansion for the automaker in India.

At present, Jindal also serves as the Managing Director of JSW Cement and JSW Paints. He is also the Chairman of JSW Dulux, Chairman of JSW MG Motor India and a Director on the Board of JSW Energy.

In addition, he is the Founder of JSW Sports and Chairman and Co-Owner of the Delhi Capitals.

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