Daimler India to improve localisation of CVs
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Daimler India Commercial Vehicles has drawn up a 3-year plan to increase the indigenisation percentage in Indian-made commercial vehicles (CVs), said MD and CEO Satyakam Arya. The company has set a target to reach 95% localisation in commercial vehicles over the next three years. Currently, this stands at 90%, Mr. Arya said during a phygital meet. “Currently, DICV import components amounting to 10% of its turnover, while exports contributes 30%,” he said.
Describing the year 2020 as ‘rough and tough’, he said the sales of commercial vehicles dipped by nearly 60% against 34% in the previous year. The company has started seeing recovery from the Q4 of 2020, and is expected to see a possible growth rate of 40% to 90% during 2021. He also said that the market share of commercial vehicles doubled after the introduction of BS-VI in April 2020 and the company had also expanded its dealers touch-
End Red Tape, Roll Out Red Carpet
by Minhaz Merchant - Jan 18, 2021 07:06 AM
Finance Minister Nirmala Sitharaman.
Snapshot
In the post-pandemic world, being the fastest growing economy is an imminently attainable target for India.
However, for that, the government must double down on the ease of doing business reforms it has already initiated.
When Prime Minister Narendra Modi took office in May 2014, he vowed to end the red tape that for decades had choked Indian business. He pledged to instead roll out the red carpet, attract foreign investment and improve the ease of doing business in India.
More than six years later, on the eve of the 2021-22 Union Budget, itâs time to take stock.
BW Businessworld
Gearing Up For The Future
India s commercial vehicles industry s struggle with overcapacity, subdued may not end anytime soon. But the rough road to recovery is getting shorter freight availability, financing issues, the pandemic and lockdown rather than longer as demand shows an uptick in volumes
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No industry mimics the health OF THE economy as closely as the automotive sector, especially the commercial vehicles (CV) segment. And with a slowdown gripping the Indian economy over the past two years, it is hardly surprising that the CV industry, which until 2018 was booming with India as the world s third largest market and the fastest-growing globally, has slid into its worst recession in a decade.
Daimler India Launches Start-Up Sparks, A Platform For Early Stage Start-Ups To Pitch Their Ideas
Daimler India Commercial Vehicles (DICV) has launched a global competition Startup Sparks for early-stage start-ups to pitch their ideas. Shortlisted start-ups will receive funding, mentoring and infrastructure support to convert their ideas into Proof of concept.
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The competition open to early-stage startups, SMEs and entrepreneurs
Entries will be accepted from December 21, 2020, to January 29, 2021
Daimler India Commercial Vehicles (DICV) has announced the launch of a global competition Startup Sparks for early-stage start-ups to pitch their ideas. The new start-up incubator evolved from the company s internal innovation platform The Farm , will focus on the fields of Electric Vehicles and Alternate Mobility, Connectivity and Servitization, Future Mobility, and Customised Applications and Industrial Products. The competition will be held entirely online, and sta
Daimler India Commercial Vehicles (DICV), a wholly-owned subsidiary of Daimler AG, has launched a global competition, Startup Sparks , for early-stage start-ups to pitch their ideas in the fields of electric vehicles and alternate mobility, connectivity & servitisation, future mobility, and customised applications & industrial products. THE FARM is an incubator platform to drive innovation that offers early-stage entrepreneurs and inventors the chance to turn ideas into reality. Our vision is to develop and evolve mobility solutions to embrace a better life for people and the planet,” said Satyakam Arya, CEO & Managing Director DICV. The competition, which will be held entirely online in its first edition, will remain open from December 21, 2020 to January 29, 2021.