Page 14- Industry Movement News

India has approved Lohum's project to manufacture rare earth permanent magnets, reducing import reliance. The move is part of a government scheme supporting 75 projects, with investments totaling ₹61,671 crore and 65,040 jobs expected.

Servotech Renewable Power System Limited has appointed Vipin Kaushik as Chief Financial Officer effective April 1, 2026. Kaushik brings over 20 years of financial experience and will support the company’s growth in EV and clean energy sectors.

Tsuyo Manufacturing will appoint Naveen Kumar Amar as Senior VP–Finance as it expands its EV powertrain business. The company has secured approval for a ₹250 crore facility in Hubli-Dharwad to boost local production and validation.

Mahindra has appointed Ankit Dhanuka as the new Chief Financial Officer (CFO) of its used-car division, Mahindra First Choice Wheels, effective April 2026.

JSW MG Motor India has appointed Amit Rana as Director of Purchase and Supply Chain, supporting its expansion into electric vehicles. The company plans six new models by 2027 and aims for 75% new energy vehicle sales.

Bijliride and Indofast Energy have partnered to expand battery swapping for EV rental fleets, aiming to reduce downtime and improve operational efficiency. This collaboration supports faster EV adoption in India’s commercial mobility sector.

Setco Automotive has announced plans to sell its entire stake in Setco Auto Systems Pvt Ltd (SASPL) to RSB Transmissions for Rs 510 crore.

Oil India Limited has signed a Memorandum of Understanding with CSIR-Institute of Minerals and Materials Technology to pursue joint research and development in critical minerals such as lithium, cobalt and rare earth elements.

Born out of IIT Bombay’s research ecosystem, Sedemac has evolved from a faculty-led deep-tech startup into a listed auto-ancillary powerhouse, reshaping powertrain and motor control for two-wheelers, EVs, generators, and global OEMs.

JSW MG Motor India has announced the appointment of Amit Rana as Director, marking a key step in its new-energy and electric vehicle growth plan.

Tata Motors has appointed Balaje Rajan as Group Chief Strategy Officer at Jaguar Land Rover, effective April 1, 2026. This move aims to enhance global integration, EV alignment, and international expansion, especially with the Avinya brand.

Hyundai Motor India appoints Madhurendra Malu as Genesis Vertical Head following record January sales of 59,107 units. His expertise promises a strong luxury debut in 2027.

Yamaha Motor India has named Hajime “Jim” Aota as its new chairman, leveraging his global strategy and venture investment experience. The move comes as the brand sharpens its focus on premium motorcycles and exports.

Bridgestone India has named Rajarshi Moitra as its new managing director, highlighting a major leadership change that aims to drive technological advancements and market expansion in the Indian tyre industry.

VinFast India has appointed Bhartendu Singh as Chief Marketing Officer, leveraging his extensive industry experience to boost brand presence and customer engagement in India's electric vehicle market.