Freudenberg Group, a renowned global technology conglomerate celebrating its 175th anniversary this year, has announced unprecedented financial achievements for the fiscal year 2023. The conglomerate reported a historic surge in both revenues and operating profits, with sales reaching USD 12.8 billion, marking a 1.3 percent increase from the previous year's figures. Additionally, the operating profit soared to USD 1.19 billion, an impressive 15 percent rise compared to the preceding year, and breaking the USD 1 billion mark for the first time in the company's history.
The robust performance was underscored by Freudenberg's steadfast commitment to innovation, customer-centric strategies and adaptable problem-solving approaches across diverse industries. The conglomerate's success story reflects its unwavering dedication to delivering cutting-edge solutions and fostering strong relationships with its clientele on a global scale.
Freudenberg's Indian arm also experienced remarkable growth, reporting substantial sales of over INR 38 billion for the fiscal year 2023. Demonstrating its confidence in the Indian market, the group announced investments totalling close to INR 3.5 billion slated for the CY2024. These investments are earmarked for enhancing facilities in key regions such as Punjab, Karnataka and Tamil Nadu.
Notably, Freudenberg inaugurated a new production facility in Morinda, India, catering to its Vibracoustic Business Group and Freudenberg-NOK India joint venture. Moreover, the company's exports from India amounted to nearly INR 8 billion, highlighting its significant contribution to the country's economy.
In line with its global sustainability initiatives, Freudenberg Group is spearheading the transition towards renewable energy sources, aiming to achieve carbon neutrality by 2045. Sustainability lies at the core of Freudenberg's operations, with a focus on optimising energy and material resource utilization. The conglomerate is committed to reducing its CO2 emissions to zero by 2045 through a multifaceted approach encompassing energy conservation, electrification and the generation of green electricity.
Freudenberg's proactive stance towards sustainability is evident in its ongoing endeavours to harness renewable energy including solar and wind power systems. The conglomerate has installed approximately 20 new photovoltaic systems worldwide with plans for an additional 60 systems at various stages of planning and execution. These initiatives underscore Freudenberg's unwavering commitment to environmental stewardship and its determination to mitigate carbon emissions on a global scale.
Commenting on the group’s annual results and its financial figures made public, Chief Executive Officer, Dr. Mohsen Sohi, said, “Numerous records were set during fiscal year 2023. We achieved the highest figures ever for sales and operating profit. When we look back over the past 10 years, it becomes clear how impressive these figures are. Within a single decade, we have roughly doubled our sales and operating profit with an average annual growth rate of 6 and 7.7 percent, respectively. Our investments in research and development have grown by 9.4 percent annually, even more strongly and almost tripling. I would like to thank all our employees worldwide. Their commitment enabled us to achieve these historic results.”
Speaking at the occasion Director of Freudenberg Regional Corporate Center for India, G. Sivasailam, said, “As Freudenberg commemorates 175 years of operations globally this year, it is indeed a proud moment for Freudenberg India to be part of the continued growth journey. Freudenberg Group has been committed to its growing operations in the country, across diverse domains and across the group companies. We are continuing to invest in the expansion of our facilities and 2024 promises to be another year of key milestones we will achieve in India.”
Ather Energy Expands Charging Network in Tamil Nadu, Reaching 400 Fast Chargers
- By MT Bureau
- August 12, 2025
Bengaluru-headquartered electric vehicle major Ather Energy has announced that its fast-charging network ‘Ather Grid’ has surpassed 400 charging points across Tamil Nadu. This expansion aims to alleviate range anxiety for EV owners and support the growing adoption of electric vehicles in the state.
With charging stations now in 38 cities, including tourist destinations like Coonoor and Rameswaram, the network connects key travel routes such as Coimbatore to Bengaluru and Chennai to Pondicherry. The company also noted that a total of 480 fast charging points are available in the state, which includes over 50 LECCS (Light Electric Combined Charging System) chargers. Developed by Ather, the LECCS standard allows different brands of light EVs to use the same charging network.
Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said, “Tamil Nadu has been one of our earliest markets and ever since we entered the state in 2019, we have been investing in building a reliable charging network there. Charging has often been seen as one of the key barriers, and it’s something we’ve focused on solving from day one. Crossing 400 fast chargers in Tamil Nadu is a reflection of that commitment. It’s about giving riders the confidence that a charger is never too far away. As our retail footprint grows, the charging network will continue to scale alongside it, making EV ownership truly seamless.”
The company has partnered with local businesses like Coffee Day Global and Ganga Sweets to deploy these charging points. This expansion is part of Ather's broader national effort, which has seen the establishment of over 3,300 fast-charging points across India. The chargers can provide up to 15 kilometres of range in just 10 minutes, making it more convenient for riders on the go.
In addition to its charging infrastructure, Ather maintains a strong presence in the state with 44 experience centres and 42 service centres in 35 cities, offering comprehensive sales and after-sales support.
Japan’s TDK Ventures Makes Strategic Investment In Ultraviolette
- By MT Bureau
- August 12, 2025
Bengaluru-headquartered premium electric two-wheeler company Ultraviolette Automotive has announced a strategic investment from TDK Ventures, the venture capital arm of Japan’s TDK Corporation, along with participation from backing from existing investors Zoho Corporation and Lingotto (previously Exor Capital), among others.
With this TDK Ventures joins the likes of Qualcomm Ventures, Zoho Corporation, Speciale Invest, Lingotto (Formerly Exor Capital), and TVS Motor Company as a strategic investor in the EV company. It also counts the likes of Sriharsha Majety (Co-founder & CEO, Swiggy), Ankit Nagori (Co-founder, Cure Foods; former Chief Business Officer, Flipkart), Aprameya Radhakrishna (Co-founder, TaxiForSure), and Dulquer Salmaan (renowned actor and automotive enthusiast) among its early backers.
At present, Ultraviolette sells the F77 electric motorcycle and is gearing up to expand its product offerings along with manufacturing, research and distribution network globally.
Narayan Subramaniam, CEO & Co-Founder, Ultraviolette, said, “Mobility is undergoing a radical transformation, and at Ultraviolette, we are leading that change through cutting-edge innovation. Our partnership with TDK Ventures fast forwards our efforts, from advanced battery platforms to intelligent vehicle systems. This collaboration not only accelerates our vision of future ready mobility but also reinforces our commitment to delivering electric vehicles that are aspirational and globally relevant.”
Niraj Rajmohan, CTO and Co-founder of Ultraviolette, said, “Through this partnership with TDK Ventures, Ultraviolette will continue to innovate in deep-tech to shape the future of mobility. Together, we will continue to push the boundaries in building safer, smarter, and a more efficient electric mobility eco-system.”
Ravi Jain, Investment Director, TDK Ventures, said, “We look forward to bringing our TDK Goodness to Ultraviolette and their ambitious plan to design the next generation of energy efficient and performance EV 2W platforms. TDK Ventures is excited to support Ultraviolette in their relentless pursuit of growing their global reach."
Geely's Satellite Constellation Expands With New Launch
- By MT Bureau
- August 12, 2025
In a significant step toward creating a global ‘Internet of Things’ (IoT) ecosystem, Geely Holding Group’s aerospace subsidiary, Geespace, successfully launched 11 new satellites into orbit on 9 August 2025. The launch took place in Shandong Province, China, and marks the fourth successful orbital deployment for the company's Geely Future Mobility Constellation (GEESATCOM).
With this latest launch, Geespace now operates 41 satellites in low Earth orbit (LEO), bringing it closer to its goal of having 72 satellites in operation by end-2025. The company plans to accelerate deployments over the next two months to reach 64 operational satellites, which will establish comprehensive global satellite IoT coverage.
The GEESATCOM project is a key part of Geely's vision to build an integrated space and earth mobility ecosystem. The LEO satellite network is designed to provide highly reliable, wide-coverage communication services for various strategic industries, including:
- Connected vehicles and urban air mobility
- Emergency response and maritime operations
- Energy infrastructure
This network will support advanced driver assistance systems (ADAS) and connected vehicle platforms by providing crucial data for precision positioning and connectivity. Geespace has already established partnerships with telecom operators in over 20 countries and its proprietary satellite communication chips and high-precision positioning modules are now in mass production across Geely's vehicle portfolio.
To further demonstrate the technology, Geely is providing high-precision positioning and emergency satellite communications for official vehicles at the World Games 2025 Chengdu, showcasing the practical applications of its satellite infrastructure in real-world scenarios.
Kia India Partners ASDC For Promoting Skill Training
- By MT Bureau
- August 11, 2025
Kia India, a leading passenger vehicle manufacturer in the country, has signed an MoU (Memorandum of Understanding) with ASDC (Automotive Skill Development Council) to promote automotive skill training in the country.
The partnership will promote a 30-day training model module combining classroom-based theoretical learning and practical on-the-job experience. The course includes 15 days of foundational training at ASDC-certified training centers covering core automotive concepts and dealership functions. In addition, it will also feature Kia-specific process to familiarise candidates with brand standards, systems and product knowledge. The curriculum will provide students with 15 days of experiential learning at authorised Kia dealerships under expert supervision.
Joonsu Cho, Chief Sales Officer, Kia India, said, “This collaboration with ASDC represents a pivotal step in Kia India’s commitment to shaping a future-ready ecosystem, one that is anchored in skilled human capital and elevated customer experience. By creating a robust talent pool through structured training and certification, we are not only empowering India’s youth with meaningful employment but also reinforcing our dealer network with professionals who embody Kia’s values of quality, care, and innovation. Ultimately, this initiative will translate into a more seamless, informed, and rewarding journey for every Kia customer across the country.”
The co-developed learning model aims to provide candidates with the technical know-how and workplace readiness to be effective from day one. Upon successful completion of the program, candidates will undergo an evaluation at the ASDC centre, get certificate jointly awarded by Kia India and ASDC, and eligible for the direct recruitment by Kia dealerships into Sales and Service roles.
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