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Varroc Engineering has posted a 4% year-on-year increase in Profit After Tax (PAT) for Q2 FY24, with revenue growing by 10%. The company's strong performance was driven by robust demand in the automotive sector, strategic investments in electric vehicle components, and operational efficiencies. Explore the highlights and future outlook for Varroc in this detailed analysis.
Kinetic Engineering Ltd is set to invest Rs 30 crore in its subsidiary, Kinetic Watts and Volts, as part of a strategic push into the electric vehicle market. This investment aims to bolster research, development, and manufacturing of essential EV components, positioning the company for growth in a rapidly evolving industry. Explore the implications of this significant move and what it means for the future of sustainable transportation.
Minda Corporation Ltd has announced a groundbreaking partnership with China’s Sanco Connecting Technology, setting the stage for significant advancements in the electric vehicle (EV) market. Through this technology licensing agreement, the two companies will collaborate on developing cutting-edge EV components, including charging assemblies, power distribution units, and battery distribution systems. This strategic alliance not only promises to enhance local manufacturing capabilities but also aims to drive innovation in sustainable automotive solutions, marking a pivotal moment in the growth of the electric vehicle industry.