Q: Globally, the car care market is bigger than the automotive aftermarket for paints. How is it in India. What is your current share in car care business and how do you plan to enhance it?

Malhotra: Car Care business is a new domain for us and we are just starting out. Globally and in India too, this is a large business area with potentially a larger market size than automotive aftermarket for paints. We are studying this business and working out our strategy. We will be offering our car care products as a product solution, through online and other channels, and as a service directly by us and our partners as well. This is an exciting area and you will soon see us becoming more visible.

Q: Your intent was to become a solutions partner, expanding into different areas like car care etc. Can you update on this journey?

Malhotra: We see ourselves emerging as a total solutions partner for customers, with car care encompassing refinishing of the paint as well. We call ourselves an augmented Finishing solutions company so our purpose is to provide excellent, unmatched finishing solutions for any surface, including cars.

This positions us quite uniquely in the market as no other player will be able to integrate paint into the car care proposition.

Q: Following car care technologies from the parent company in Japan may not be helpful as the geographical conditions are different in India. How do you customise it? Is your Indian R&D helping it?

Malhotra: While we leverage the knowledge and technology developed by our parent and sister companies, we essentially follow the market requirement. So we are in terms of technology and developments. We make for India, make in India and provide our solutions across India. That is how we operate.

For the automotive aftermarket business, our R&D set up in India is quite extensive and well resourced. Our technology centre in Manesar serves us well – both for the Indian market and as a key resource for the global business. This is where we do bulk of our developments – whether for paints or car care products.

Q: Till few years ago ceramic coating was popular in India. What is the current trend and how do you cater to the every changing customers’ expectations?

Malhotra: Ceramic coating is still quite popular but there are other products available too for the consumer. Our approach is to use our knowledge of surfaces and surface coatings to create unique and differentiated products for our customers. In this respect, we are developing new technologies. One of the unique products we have in this space is our CyGlaz clearcoat 9905 which creates a very strong film that far exceeds the performance of any normal coating or even a ceramic coating. So, there is a lot more in our kitty and we will soon be launching such products and services.

Q: What is Nippon’s USP? What are the compelling reasons for customers to look for NPI?

Malhotra: Every company tries to build its own compelling solution. Our differentiation comes from our widespread dealer network, our presence in over 1,000 towns in India, our unique products and services, our amazing sales and service team, our embracing of new ideas and platforms, our willingness and ability to customise, our short TAT between concept to creation and many more things. And all this stems from our unique DNA which makes us Nippon Paint. And this DNA is what makes us click across Asia Pacific and makes us the force that we have become.

The automotive aftermarket space is relatively very new for Nippon Paint and it is only in 2014 that we started focusing on this space as a separate, identified international business. So all that we have created is only in a short period of five to six years as compared to our illustrious competitors who have decades of legacy and knowledge. But I also feel that our freshness and ideas are helpful to give us a different perspective of the industry and emerging opportunities our uncluttered mind gives us speed to execute.

Q: Tell us about the Velocity Repair System; how many outlets are functional now and what the target for the next five years?

Malhotra: When we launched our Velocity Repair programme, there were not too many takers for it. Now, people who have used this product swear by it and use it extensively. In the first round, we focused on creating branded Nippon Paint Xpress Centres and set up around 50 such centres across India. Now, we take the product proposition across the country and make it available to all our major partner workshops. So, we have around 300 active users for this product line in India at this moment.

Our product proposition is still fresh and no competitors have been able to develop a similar system. In the future, we will continue to expand this portfolio and workshop network and take this to over 1,000 outlets. The key idea is for the car owner and not just the repair centre to experience this service and that’s what we are working on now.

Q: The secondary car market is always larger than the primary market and it is growing even bigger with the pandemic induced used-car sales. What kind of opportunity does this give you?

Malhotra: We are actively focused on the used car market and are working with leading used car players on the refurbishment side of things. Our solutions which give fast, efficient and high quality repairs make us the ideal paint partner for such used car companies and we are leveraging that capability.

In this field, we are also working on the concept of providing painting services and not just paint. Going forward, we see the refurbishment business relating to our used car customers growing into a very sizeable part of our business.

Q: What are the challenges NPI faced during the lockdown and COVID induced New Normal?

Malhotra: Several challenges; and we used this period to innovate. We relooked at our customer propositions. We developed and launched new products. We created new services. We set up new manufacturing concepts. We distributed our manufacturing from a single core to multiple units. We streamlined our supply chain. We localized more products and raw materials. We trained our workforce. We sharpened our optimisation focus. We developed new digital solutions. We empowered our managers. We cut our fat and become more lean and flexible. And yes, we didn’t forget our social responsibility and supported the painter community at this turbulent time.

So, in that sense, Covid-19 has been a great accelerator for us. Things that would have normally been done in a few years have been accomplished in a few months.

Q: What is the current status of the imported parts and accessories in India after the ban on imports from China? Does it anyway help affect you?

Malhotra: The paint industry has a fair share of raw materials and finished goods coming from China. At our side, we are not overly dependent on sourcing our products from China and more so, now our supply chain is more localised than ever. Yes, certain products sourcing from non-China sources is challenging but we are looking ahead at more localization and more diversified sourcing.

Q: With the life of automotive paints increasing due to technological advancements, how is the revenue being sourced nowadays?

Malhotra: We always aim to provide customers with more durable products. Our business is not impacted by the life of paint, but by the differentiation of the solutions that we offer. Our primary business in the aftermarket relates to collision repair which is not dependent on life but repair of paint due to accidents. Furthermore, as we expand into new products and new domains like wood coatings, car care, bus and application vehicles painting and light industrial coatings, our dependency even on collision repair induced paint consumption is also going down.

We always say – give the customer the best products and services and he will refer more customers to us. Give him a shoddy product with poor durability, we will shoot ourselves in the foot. So, we are absolutely clear that technology induced advancement of paint durability will always stand us in good stead.

Q: Can you tell us about your short-term and long-term plans?

Malhotra: In the short term, our plan is to utilise the learnings from the Covid induced lull to our advantage. As mentioned before, we have done a lot of things that will now help us. So, we will leverage these developments, regain our business and be back on growth. To that extent, October 2020 has been a good month where we were back on double digit growth and that gives us the satisfaction that we are back on track.

From the longer term perspective, the lockdown period has helped us to develop an alternative view about our business approach. We aim to be masters in Paint – Polish – Protect and we will be focusing on the various dimensions of this new strategy in the next two to three years. We are here to stay. And we are future ready. (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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