Archive: June 23, 2022

Michelin gets India’s first fuel efficiency 5 Star rating for passenger car tyre category

Mumbai, 22nd June 2022: Michelin, the world’s leading sustainable mobility company, has become the first tyre brand in the passenger vehicle segment in India to be accredited with the newly introduced star labelling program by Government of India. MICHELIN Latitude Sport 3 and MICHELIN Pilot Sport 4 SUV tyres receiving 5 Star rating is a real endorsement of Michelin’s commitment to offering the best of global sustainable technology and state-of-the-art products to its Indian customers. Recently, Michelin became the first brand in India to receive 4 Star rating by the Bureau of Energy Efficiency (BEE) for it’s made in India commercial vehicle tyre MICHELIN X® Multi Energy Z.

Manish Pandey, Commercial Director B2C for India Region said, “At Michelin, we believe that for mobility to have a future, it will have to be increasingly eco-friendly, efficient, safe and accessible. After receiving the first 4-Star label for our commercial vehicle tyre recently, we are thrilled to be recognised once again with India’s first 5 Star rating for two of our most popular passenger car tyre-lines in India. For our brand, this first 5 Star rating will add greater confidence among our customers, where they will be better placed to select tyres that are fuel-efficient, safe and contribute to decreasing carbon footprint in the country. We are dedicated to offering our Indian customers the most advanced technology best tailored to keep them safe, comfortable, and efficient on Indian roads” 

Government of India continues to make consistent efforts towards infrastructure development, with the pace of national highway (NH) construction in the country touching a record 37 km per day in 2020-21. To make these roads safer and drives more efficient, comfortable, and confident, the tyre industry has played a crucial role, with consistent efforts towards creating a more innovative contribution to the industry. As part of an ambitious road map by the Ministry of Power and Ministry of Petroleum and Natural Gas for a smooth transition towards green mobility, a final notification was published in 2021, proposing that the tyres of cars, buses, and trucks meet requirements of rolling resistance and wet grip as specified in BEE Schedule 30 based on Stage-I of the Automotive Industry Standards (AIS). Under this process, Michelin India is one of the first brands to register for both commercial vehicle as well as passenger car segment and was subsequently awarded India’s first 5 Star rating for Michelin Latitude Sport 3 and Pilot Sport 4 SUV tyres.

The new regulations will demand that all tyres sold in India meet crucial performance and safety standards such as rolling resistance and wet grip. When this regulation becomes mandatory, all domestic and foreign manufacturer and importers of truck, bus and passenger car tyres will be required to attribute BEE star label to tyres sold in India.

MICHELIN Latitude Sport 3 is the third generation of Latitude on-road SUV tyres from Michelin’s global line-up. The tyres are uniquely designed to offer the best in the segment, driving experience, better performance in terms of fuel consumption and an outstanding grip on all types of terrains. It provides better road grip on wet roads with minimal roll resistance, adding to better fuel efficiency. The tyre’s exceptional design offers a high level of comfort and maximum torque transfer while braking or accelerating, thus improving steering precision.

MICHELIN Pilot Sport 4 SUV tyre is a high-performance, premium SUV tyre developed to deliver unlimited driving pleasure, excellent longevity, impressive braking performance, and dynamic handling. Pilot Sport 4 SUV tyres outperform peers in dry and wet on-road braking, with shorter braking distances. Moreover, this tyre provides better roll resistance, resulting in greater fuel efficiency and Safety.

PARAMETERS FOR STAR LABELLING: 

AIS conducts star labelling test on tyres on various aspects, such as testing of rolling resistance coefficient and wet grip index. The rolling resistance coefficient test is done on the rolling ratio to the tyre’s load. In contrast, the wet grip Index test is done on parameters of the ratio between performance of the candidate tyre and the performance of the standard reference test tyre. Each test must meet the minimum threshold for each star rating band. 5 Star category has a lower limit of 0 kg/ton and an upper limit of 8 kg/ton.

IMPACT OF FUEL SAVINGS AND 5-STAR SIGNIFICANCE: 

A 5 Star product, on average, consumes up to 9.5% less fuel when compared to any other lower star-rated tyre, co-relating to lesser greenhouse gas emissions, a significant cause of global warming. On an average, there would be up to 750 kg less Co2 emissions when you switch to a 5-star product vs a lower-star rated tyre. As the fuel prices across the globe remain volatile, consumer can save a significant amount of money by switching to 5-star rated tyres.

Zeassetz in partnership with BramhaCorp launches TownHouse

Delhi, June 2022: Zeassetz, a subsidiary of Zolo (India’s largest co-living brand) and India’s largest and fastest growing residential rental investing platform in partnership with BramhaCorp, a leading luxury developer has launched BramhaCorp TownHouse, at a prime location in Balewadi, West Pune. BramhaCorp TownHouse offers smart and fully furnished studio apartments complementing the living standards of millennial living. Studios are now in popular demand as an investment option and an emerging asset class in the real estate industry.

Through this partnership, Zeassetz offers smart investing upto 5% Return on Investment (ROI) with lowest net EMI of approx. 3.5K with capital appreciation. These smart homes offer optimum utilization of space with private balcony, energy-efficient AC homes with futuristic amenities such as digital door locks, motion sensor lighting system, video doorbell, kitchenette with all white goods and utensils.

Commenting on the new launch, Sarabjeet Kukreja, CEO, Zeassetz said, “We are geared towards disrupting the pre-leased residential property market through our hand-picked or curated high returns and high-yielding proposition. This is a growing market segment and is currently valued at ($6.67billion) with a potential of ($13.92 billion) in the coming years. We are privileged to have partnered with BramhaCorp, one of the best luxury developers in India, to cater to this asset class through smart, affordable and furnished assets or studios that generate high rental income at a very nominal net – EMI investment.”

“We have been at the forefront of redefining the concept of luxury housing in Pune. Zeassetz is a partner we trust and know. BramhaCorp Townhouse will set a new benchmark in the real estate investment segment and change the way people invest in real estate. We aim at making investment in real estate affordable for masses without compromising on the product and quality” –Dinesh Agrawal, Co-Chairman BramhaCorp Ltd., said.

The Studio Apartments at BramhaCorp Townhouse, redefines the concept of housing in Pune and opens up immense possibilities for years to come. Being developed at a prime location, these premium studios further enhance your returns, which grow for years to come.

iCubesWire bags the Creative & Digital Mandate for Sharp Business Systems (India)

June 23, 2022, New Delhi NCR:iCubesWire, an interdisciplinary marketing agency, has announced its digital and creative mandate win for Sharp Business Systems (India) Pvt Ltd. The Indian subsidiary of Sharp Corporation carries a strong legacy of smart business and appliance solutions.

iCubesWire is well-versed in different marketing domains, from performance marketing to social media, video and influencer marketing.

According to the mandate, the agency will take charge of Sharp Business Systems (India) Pvt Ltd’s digital and creative practices. In addition, the agency will handle digital branding, media buying & planning and develop channel-based campaigns.

Commenting on the association, Mr.ShinjiMinatogawa, Managing Director, Sharp Business Systems (India) Pvt Ltd, shares, “iCubesWire has a strong foothold in the industry. Their experience clubbed with their team’s out-of-the-box thinking, pushed us to make them a part of our journey. We are glad to have the agency on board and look forward to penetrating new markets and efficiently reaching our potential customers.”

Adding on the win, Mr. Sahil Chopra, Founder and CEO, iCubesWire, says, “We are delighted that Sharp Business Systems (India) Pvt Ltd has entrusted us with the task of taking the brand to new heights. Our team is excited to work alongside the amazing team at Sharp Business Systems (India) Pvt Ltd to raise brand awareness and ensure growth.”

Skoda Octavia hits Historical Landmark with 101,111 Cars Sold in India

Mumbai, June 2022 – On the back of breaking monthly and quarterly sales records, ŠKODA AUTO India added yet another record to its cabinet when OCTAVIA number 101,111 was delivered to its customer. Along the way, the ŠKODA OCTAVIA has also hit the record of being the largest selling car in India via the Parts and Components (CKD) route. Moreover, the ŠKODA OCTAVIA now holds the distinction of being among the top longest-running nameplates in continuous sale currently in India.

Commenting on the landmark achieved by the ŠKODA OCTAVIA, Mr. Zac Hollis, Brand Director, ŠKODA AUTO India said, “The OCTAVIA is synonymous with ŠKODA AUTO since our entry into India. It introduced Indian consumers to a value luxury package of design, technology, comfort, versatility and driving dynamics and created its own segment when launched in 2001. It has since become the largest selling CKD of all time in India, recently crossing the 1 lakh sales mark. A big thank you to our family of fans and customers whose continued love and support to the OCTAVIA for over two decades has made this accomplishment possible.”

In an era where change is the only constant, four generations of the OCTAVIA have met, tackled, survived and succeeded in the face of constantly evolving challenges, market conditions, economic fluctuations and customer preferences. From a time when India was just about witnessing an influx of the latest cars from around the world, to a time where aspirations have moved from a hatchback to a sedan to an SUV, the OCTAVIA has stood its ground with its timeless design, quality, ability to engage the driver and its passengers and is a successful car in the C-segment in India.

The OCTAVIA name has Latin origins denoting the number 8. As it was the 8th all new model in ŠKODA’s post-war line-up and also the 8th car in ŠKODA’s modern generation of cars with independent all-wheel suspension. More importantly, in music, an octave is a perfect interval, a perfect cyclical rhythm of 8 beats and is the simplest rhythm to follow, in which nearly all music in all styles and forms is composed. And true to its name, the OCTAVIA has always been about balance, consistency, versatility and simplicity. The first time the OCTAVIA name was used was in 1959 with the OCTAVIA COMBI following in 1961. The model was in production till 1971, before being resurrected in 1996 under the VW Group. This was referred to as the OCTAVIA (OG) unofficially and the OCTAVIA (A4) by the company.

To quote Dirk van Braeckel, designer of the first-generation OCTAVIA, “When we ran our first customer tests, the unbelievable results that came back to us strongly suggested that we were really onto something. And it transpired that indeed we were. The OCTAVIA came along with this look that embodied tradition, quality and sporting ambition, and combined that with remarkable spaciousness, all at a very reasonable price. On top of that, the timeless design and the philosophy of evolution rather than revolution have been highly instrumental in lifting the OCTAVIA to its current heights.”

This first-gen OCTAVIA introduced internationally in 1996 brought in a number of technological features to ŠKODA production cars. Technology like front side airbags, power steering on all versions and turbocharged engines.

The OCTAVIA A4 came to India in 2001 followed by the vRS in 2004, which was the first ŠKODA to wear the iconic, performance-oriented badge in a production car. The vRS made its international debut in 2000. The year 2004 in India also saw the introduction of the COMBI in TDI, TSI and vRS forms. In fact, the vRS was the first ever turbo-charged petrol engine passenger car in India. The year 2005 saw the new generation of the OCTAVIA re-badged as the LAURA (A5), with the original OCTAVIA, with relevant updates, still catering to healthy demand till 2010. The A7 OCTAVIA came about in 2013 and got a vRS version with the vRS 230 in 2017 and the vRS 245 in 2020, which remains one of the fastest road-production ŠKODAs. The A8, the current OCTAVIA, drove in in 2021 and remains the sole product in its category today. Globally, over 7.5 million OCTAVIAs in all body styles, engines and iterations have been sold to date.

The OCTAVIA was also the first nameplate in the country to have a distinct, high performance version that was not a mere cosmetic job with the vRS. The vRS today has its own organic clubs and fan following in India.

Besides opening up the Indian market to its first premium sedan experience in that price range, the OCTAVIA presented a unique notchback design. This debuted the elegance and proportions of a classic sedan, but with the ability to lift the entire rear with the boot and glass section together. This Simply Clever engineering solution lent the OCTAVIA hatchback-levels of versatility and estate-levels of practicality with a 528-litre boot that could extend to 1,328 litres with the huge opening door offering an incredible loading area. The current OCTAVIA boasts 600 litres of bootspace with the ability to extend it to 1,555 litres maintaining consistency with the ethos of the OCTAVIA name.

BatX Energies raises $1.6 million in seed round funding led by JITO Angel Network

India, June 2022, India’s leading Lithium-Ion Battery recycling start-up BatX Energies Pvt. Ltd., raised $1.6 million (approximately INR 13 Crores) in seed funding round led by JITO Angel Network. BatX Energies has developed a proprietary Zero Waste – Zero Emission technology to extract critical Rare Earth metals, namely Lithium, Cobalt, Nickel and Manganese from scrap Lithium-Ion batteries. These critical materials are the key drivers of global electric mobility.

The investment will expand the start-up’s footprints in the Indian and International markets. With a key focus on investment towards advanced R&D for producing battery-grade materials, scaling up their capacity, and setting up micro facilities (spokes) across the country, the company aims to source and process locally. Through this it will also bring about an increase in job opportunities and a skilled workforce in the electronic waste management sector.

With this investment round, BatX Energies will establish a commercial-scale rare earth battery materials extraction plant integrated with AI and attain leadership position in India. In its recycling unit, which is already producing Black Mass (a mixture of battery anode and cathode materials), the company will start specific material extraction via their proprietary chemical process in Q3 of FY 22-23. BatX Energies is already in advanced talks with various global agencies to expand their operations and provide end-to-end service for preserving these rare earth materials, which are otherwise mined with exhaustive efforts and stress-generating carbon emissions on the planet. BatX Energies is on a mission to recycle approximately one billion Lithium-Ion cells in next three years; cutting carbon footprints significantly and producing sustainable battery materials for making fresh batteries.

“BatX Energies’ goal of creating a circular economy and promoting the ethos of sustainability strongly resonates with our own beliefs. We view the company as champions in green-tech solutions that would bolster global green energy transition. We are proud to associate with the company whose solutions have the potential to substantially reduce the cost of Lithium-ion batteries for use in electric vehicles (EVs),” said JITO Angel Network Vice Chairman Sunil Kumar Singhvi. “Solutions like these and support of investors in the field can greatly accelerate EV adoption and reduce dependency on imported Lithium-ion in the country, given the fact that India does not have reserves of rare metals like Lithium, Cobalt, Nickel and Manganese.”

Expressing his gratitude towards the investors, Mr. Utkarsh Singh, Co-Founder, and CEO, BatX Energies, said, “We are a team of green-tech enthusiasts dedicated to creating a circular economic and domestic supply chain of these Rare Earth metals for the production of affordable EVs. As India doesn’t have Lithium Cobalt, Nickel and Manganese as natural resources, recycling used Lithium-Ion batteries is the only way to produce them in India. These materials can be used infinitely in a closed loop. It is also our team’s driving force and motto “Beyond Limitations”. The cost of recycled material is far lower than mined material with greater environmental benefits. We are fortunate to have received a lot of interest from various countries for our economically viable solution and machinery; thus opening our routes for organic global expansion. We are also committed to achieve the United Nation SDGs 7, 11, 12, 13 and 15. BatX Energies will invest up to $50 million over the next 24 months in setting up our recycling units in different geographies.”

“With this investment, we plan to fill the demand and supply gap of Lithium, Cobalt, Nickel and Manganese in the EV industry reducing carbon emissions, for which we are constantly enhancing our technology and processes to treat all kind of Lithium batteries circulated in the global market,” added Mr.Vikrant Singh, Co-Founder and CTO, BatX Energies.

Associations taking over from builders: Lessons to learn

Bengaluru, June 2022. In a remarkable move, ADDA, a leading apartment management software company, is organizing a Learning Session on Builder to Apartment Association Handover. The session will highlight how associations can collaborate with the builder and manage the handover process. An array of activities, Q&A sessions, in-depth discussions about the process of building and handing over the project will be part of this. A first-of-its-kind handover meeting will be held on 25th June 2022 at Taj Vivanta Bengaluru, Residency road in Bangalore with insights from members of the governing council and experts in the industry (builders, legal heads).

The event aims to promote awareness of ‘Builder to Association Handover’ and to better understand its complexities. The event is geared toward associations and housing societies that are undergoing or are about to undergo builder handover. Individual apartment owners taking possession of their new property frequently complain about issues such as late handover and defects within the apartment. However, building-level issues are even more complex and frequently ignored, ranging from major defects to incomplete construction, a lack of documentation, improper maintenance corpus handover, and so on. First-time MCs may be lacking in awareness, resources, or both. Issues resurface a few years later, requiring the Association to spend a large sum of money with no or minimal support from the builder.

While expressing her excitement about the event, Ms. Aashika Sripathi, Co-founder & COO, ADDA, added, “We also aim to fix some of the common challenges encountered during the Builder handover during this event, in order to help the public understand how the Handover process works. We hope that this event will increase public awareness and familiarize them with the details of the handover procedure through four sessions presented by industry experts. Also we feel that these types of sessions are very useful for industry leaders as well as for the end users. In this event we will be discussing the landscape of handover management by exchanging useful information, thorough checklists, and how-tos.”

ADDA intends to bring together like-minded people under one roof, unlocking phenomenal opportunities and going beyond the ordinary. In addition, there will be a panel discussion covering all aspects of the builder handover. Each panel discussion will delve deeply into pertinent topics such as operational aspects of takeover with the opinions of experts in customer service and members of the MC and legal and regulatory considerations during handover. Among the panelists are Rahul Raj, Iswar Dixena, Uday Simha Prakash, Gautham Kamat, Adv. Mithun Girahalli Law, Satish Mokhashi, Col. Narsimhan, and Hareesh Sivaraman, among others.

Would it be wise to invest in a home early in your career

by Annuj Goel, MD, Goel Ganga Developments

Buying a home is that one dream which is harboured by every young man or woman. Many people take a lifetime to buy their own house, some achieve it early in their careers. While young, most of working professionals do not think about owning a home. However, if they start taking the baby steps towards owning an abode early in their career, they might own property very soon. Here is a lowdown on why one should plan and go for a property investment early in their career.

Lower EMIs- When you are young, there is ample time for you to pay back the home loan. When you are in your mid-20s (20-25 years), you can easily avail of a home loan of 20 plus years. The financial institutions are also willing to offer longer-term loans. With a working life of 25 plus years, you will own your sweet home early in life.

Moreover, as you grow in your career and the salaries get better, you can easily prepay the loan to get debt-free. At a time when you are unmarried, have no children and have limited liabilities can turn out to be the best time to invest in a property. A property investment in your 20s might turn out to be the best decision of your life.

Tax Benefits- When you are earning well, tax benefits and tax savings are a top priority. The acquisition of a property early in your career can support you in saving a significant amount of tax. When you take a home loan to acquire a property, it is eligible for tax benefits under Section 80 C of the Income Tax Act. A home loan comes with multiple tax benefits for a homebuyer. When you are young and invest in an under-construction home, you are eligible for a pre-construction interest rebate and can claim a deduction on the interest paid on the home loan.

According to the Income-tax Rules, deduction in five instalments, from the date when the property is acquired or construction is complete, is allowed under the IT act. However, the maximum deduction is capped at Rs 2 lakh. If your home loan falls under the ambit of section 80EEA, you can also claim an additional Rs 1.5 lakh claim.

Asset Acquisition- Buying a property at an early age will make you the owner of a reliable and appreciating asset. At the back of your mind, you can rest assured that even if nothing works out, you have an asset to bank upon. If you purchase land in your 20s, its value will appreciate and the ROI will be exponential after 10-15 years.

Rent Saving- If you have decided to invest in a home early in your career, it can save a significant amount of rent for you. When you acquire a home, you can avail of a home loan and the money that would have gone into rent can be utilized in the form of Equated Monthly Installments (EMIs). With the passage of time, the amount of EMIs also reduces, the loan gets reduced and eventually, you get your own home very early in your life.

Conclusively, a property investment early in your career is a wise decision, given the income range and other aspects are appropriately covered. However, experts caution that youngsters must weigh in all the factors before going for a home loan as in cases of job loss or recession or any unforeseen jib loss, the situation might get tough and repayment might be difficult. If you have your basic needs duly covered, you can go for a property.

EVTRIC Motors launches its first electric motorcycle RISE at Ex-showroom

Pune, 22 June 2022: EVTRIC Motors – a Pune-based electric vehicle venture by PAPL launched the electric motorcycle EVTRIC RISE. The high-speed motorcycle is the first electric motorcycle by the brand, flaunting an elegant style and high-end technology. EVTRIC Motors team launched this product during their dealers’ meet in Sikar, Rajasthan at INR 1,59,990 (Ex-Showroom India). Dealer partners from the entire Rajasthan participated in the meet and witnessed the launch of the new product by the brand.

The brand has been promoting the ultimate vision of ‘Make in India’ in the electric vehicle segment. The much-awaited electric bike EVTRIC RISE will clock a top speed of 70 km per hour and will easily cover 110 kilometers on a single charge. It comes with a lithium-ion battery which gets fully charged within 4 hours. The bike makes it convenient and safe for users to charge the battery with the accompanying 10amp micro charger which comes with the auto cut feature.

It flaunts a sporty look with a dash of sharp cuts on the sides. It is studded with LED with Day running light function. It also comes with unique rear winkers, providing the latest features to the users. RISE is powered by a 2000watt BLDC motor paired with a 70v/40ah lithium-ion battery. The new bike is available in stunning red and black color which adds a cool quotient to the daily travel.

Commenting on the brand’s first motorcycle launch, Mr. Manoj Patil, Founder & MD, EVTRIC Motors, “We are excited to bring our latest creation RISE, our first ‘make in India’ electric bike. The bike shall define the true quality experience for the customers who are still otherwise hesitant to switch from ICE to EV. We believe, it is a responsibility for Indian automakers to give their best to the ultimate e-Mobility mission and contribute towards the advancement of the market, and a pollution-free tomorrow. We with our years of experience in automation are well equipped to do our bit. And the new EVTRIC RISE is another milestone in the same direction.”

The brand has been launching back-to-back make-in-India products to offer fine quality electric vehicles to Indian users as they experience a transition from petrol to Electric vehicles. Currently, the brand already has 3 electric scooters on road- EVRIC AXIS, EVTRIC RIDE and EVTRIC MIGHTY, and has 125 touchpoints across 22 states in India.