Sundram Fasteners Limited registers highest ever Standalone Net Profit
- By MT Bureau
- July 30, 2022
Sundram Fasteners has reported highest ever standalone quarterly net profit of INR 1.3 billion in Q1 FY 22-23 as against Rs 1.12 billion during the same period in the previous year, marking a 15.6 percent year-on-year increase.
The company reported revenue from operations at INR 12.39 billion for the quarter ended June 30, 2022, as against INR 9.3 billion during the same period in the previous year, registering an increase of 32 percent. The domestic sales for the quarter were at INR 7.9 billion as against INR Rs. 5.59 billion during the previous year, marking an increase of 42.6 percent.
The export sales for the quarter ended June 30, 2022 were at INR 4.05 billion as against INR 3.56 billion, marking an increase of 13.9 percent. Reporting finance cost (comprising of interest cost at INR 21.1 million and exchange loss of INR 29 million) for the quarter ended June 30, 2022, at INR 50.1 million, Sundram Fasteners is looking at investing about INR 3.5 billion over the next five years to develop and manufacture advanced automotive products.
Continuing to post a robust growth in export sales, Sundram Fasteners, according to sources, it has reported the finance cost for the corresponding quarter in the previous year at INR 41.7 million. This is made up of an interest cost of Rs. 11.1 million and an exchange loss of INR 30.6 million.
Having earmarked an investment of INR 3 billion for wind energy business, the company reported Profit before Tax (PBT) for the quarter ended June 30, 2022, at INR 1.71 billion as against INR 1.51 billion during the same period in the previous year.
Arathi Krishna, Managing Director, Sundram Fasteners Limited, said, “The Company has registered a strong operating performance and reported highest ever profit despite a challenging environment posed by continuous increase in raw material prices, inflationary impact in indirect materials and steep increase in freight costs and other inputs. We continue to be cautiously optimistic about the ensuing quarters.”
Ola Electric To Unveil India Inside Vision On 15th August
- By MT Bureau
- August 06, 2025
Bengaluru-based electric vehicle maker Ola Electric is set to host its annual event ‘Sankalp’ on 15 August, at its Gigafactory in Krishnagiri, Tamil Nadu.
At the event, the company shared that it will unveil its ‘India Inside’ vision across products and technologies. This year, Ola Electric has made its event public inside the Gigafactory, which will be live-streamed on its official channels with more details to be announced soon.
Force Motors Launches AI-powered Connected Vehicle Platform, Sets Up Command Centre In Pune
- By MT Bureau
- August 05, 2025
Pune-headquartered automotive major Force Motors has unveiled Force iPulse, its new connected vehicle platform designed to enhance operational intelligence and vehicle lifecycle management.
Developed in partnership with Intangles, the platform uses state-of-the-art artificial intelligence (AI) and hybrid analytics to provide insight into vehicle performance. It continuously analyses high-resolution data to predict issues, enabling the early detection of performance problems and component failures.
Unlike traditional monitoring systems, Force iPulse goes beyond simply reporting faults. It performs root-cause analysis on key subsystems, including the engine, powertrain and electrical and thermal systems, allowing for proactive intervention to prevent unplanned downtime. This enables fleet operators to make precise, data-backed decisions.
Prasan Firodia, Managing Director, Force Motors, said, “At Force Motors, we believe in value-driven innovation, and this launch is yet another step in our mission to deliver superior, intelligent mobility solutions. Force iPulse is more than just a technological solution—it is a business enabler for our customers. It brings in transparency, improves efficiency, and ensures safety across operations, thereby equipping our customers with complete control over their fleet operations. We are confident that this new initiative will be well appreciated by both our customers as well as our partners and help take us another step forward in delivering our promise of customer delight.”
The platform, built on a secure cloud-native architecture, provides access to real-time and historical vehicle data on both mobile and desktop devices. It offers a unified view of operations, helping fleet managers detect inefficiencies, enforce best practices and optimise the total cost of ownership.
Furthermore, to support the new technology, Force Motors has established an Intelligence Command Centre at its headquarters in Pune. Manned by diagnostics experts, the centre provides remote vehicle monitoring, alert management and expert guidance. This is backed by a 24x7 support infrastructure.
Force iPulse is now available across Force Motors’ network of more than 300 dealerships. It will be a standard feature on all new commercial vehicles and can also be fitted as a certified aftermarket solution.
Faraday Future Begins Trial Production Of FX Super One MPV In California
- By MT Bureau
- August 04, 2025
California-based e-mobility company Faraday Future Intelligent Electric has commenced the trial production phase of its new FX Super One electric MPV at its Hanford facility.
The phase will focus on validating production processes, workflows and quality standards. Factory engineers and staff are also undergoing training to prepare for full-scale production. The next stage will involve engineering validation, including safety testing.
Unveiled in Los Angeles on 17 July, the FX Super One features Faraday Future’s Super EAI F.A.C.E. interface and its 6x4 Embodied AI Agent architecture. The model is positioned as a premium alternative to traditional large SUVs like the Cadillac Escalade.
The company has invested around USD 300 million in its 1.1 million-square-foot Hanford facility, which could be scaled up to produce over 30,000 vehicles per year with further funding and permits. The plant may also support multi-model assembly lines.
Faraday Future recently secured USD 105 million in new funding, expected to cover most of the FX Super One’s launch costs.
Founded in 2014, the company aims to disrupt the automotive industry by creating a user-centric, technology-first and smart driving experience.
Schaeffler Introduces Radar-Based Hands-Free Vehicle Access Sensor
- By MT Bureau
- August 04, 2025
German tier 1 supplier Schaeffler has developed a hands-free access sensor that allows users to open and close vehicle trunks or sliding doors with a foot motion, without needing to press a button or use a remote. Based on Doppler radar technology, the system enables keyless and contactless vehicle access.
According to Matthias Zink, CEO Powertrain & Chassis, Schaeffler AG, “With the expanded portfolio of the Powertrain & Chassis Division, Schaeffler is positioning itself as a new provider of innovative sensor solutions for body applications. The hands-free access sensor is an example of Schaeffler’s growing, complementary product range following the merger with Vitesco Technologies – and marks another step toward our goal of becoming the world’s leading Motion Technology Company.”
The sensor activates when a person enters the radar field beneath the rear of the vehicle. It detects foot movements and analyses both speed and direction within a 60-centimetre range. Artificial intelligence is used in the calibration process, adapting the system to different vehicle models to improve detection accuracy and reduce false triggers.
Production of the sensor began in Europe at the end of 2024 for major automotive manufacturers.
Leif Reinhold, Head of the Powertrain Solutions Business Division at Schaeffler, responsible for the company’s sensor portfolio, said. “Schaeffler’s hands-free access sensor is a key component in the vehicle for intuitive access and also highlights our expanded sensor expertise in the market. We have been producing the hands-free access sensor in volume since the end of 2024 – in Europe, for major European automotive manufacturers. We also see additional growth potential in North America and China.”
Operating at a 24 GHz frequency, the sensor maintains performance in various weather conditions and temperatures ranging from –40 to 105 degrees Celsius. It connects to vehicle systems via a LIN interface and is suitable for various body styles including SUVs, minivans and sedans.
The sensor can be mounted either on the bumper or the chassis and is compatible with vehicles fitted with or without a trailer hitch. Installation involves a single screw-in component, removing the need for extra clips, brackets or antenna runs.
Comments (0)
ADD COMMENT